Today we are going to look at the term Pitch Deck. If you have ever wondered what is a Pitch Deck or wanted to know the you the Best Startup Pitch or even simply Examples, Definition or Meaning of the phrase check out this video.
As a former Dragon on BBC Online Dragons Den, business columnist for The Scottish Sun and Serial entrepreneur, I know a thing or two about business, my new series of vlogs where I will turn you into a business expert who even knows the lingo Along with throwing in a few entrepreneurial words of wisdom…
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Don’t get bogged down in baffling business lingo. If you’re thinking about becoming an entrepreneur, you need to know the jargon that banks, investors, partners and potential customers are using. My series Speak Like Shaf can guide you through the minefield of misinformation and throw in the occasional nugget of business advice. This week, we will be looking at the phrase pitch deck.
If you haven’t heard of this before, don’t worry. It’s nothing to do with football, camping or even decking. Nope, a pitch deck is a brief presentation to provide an audience with an overview of your business and your plans for it. You can use a pitch deck during a face-to-face meeting, over FaceTime or Skype to try and convince investors and customers to choose you.
Let me introduce you to somebody very special. This is my friend from the Stone Age, Rab the Rock Star. He was one of the world’s first entrepreneurs when he realised that, unfortunately for him, he was a rubbish hunter. He did however have one redeeming quality, what he was good at though, was making tools for his pals who weren’t rubbish hunters. He made tools and initially swapped them with hunters for food. But soon money came into the transaction and Rab was selling his tools.
He whittled sticks to make spears and bows and arrows and carved hammers and cleavers from flint. At first the hunters were sceptical, they didn’t have a clue what they were supposed to do with these new fangled tools. So Rab pitched his idea to them. One night he gathered them around the fire and showed them his products and explained how they could help them. He spoke to them about what he expected out of the deal and why his products would change their lives. And do you know what? His little pitch did the trick and that night he was inundated with orders.
If you are just starting out a pitch deck is a great idea. Rab didn’t have PowerPoint to get slides together but you do and it’s a good tool to create your presentation on. Don’t get bogged down in detail. Make sure your pitch is structured. A pretty safe formula is a brief introduction, information about your product, the market, business model or business plan, your competition, your budget, and how much you are hoping to attract in investment. What will the investment be spent on, plus the best way of contacting you.
When I did Online Dragons’ Den, I sat through a host of pitches. Some were more memorable than others, and not always for the right reason. If you want to see one of my most memorable pitches from Dragon’s Den there’s a link at the end of the video.
Getting back to today’s Speak Like Shaf. A perfect pitch is what you’re aiming for. If you get it right, in front of the right people, your business could get a massive boost. If you need some tips on pitching, business plans, budgets or even how to do research, check out my Seven Hacks Series on my YouTube Channel. The good news is it won’t cost you a penny. Before you go I would appreciate if you subscribed to my YouTube Channel, and just for your convenience there’s a link coming up in a second.
See you next week.
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