April 4, 2024

210. The Real Reason Long Pitch Decks Are A Red Flag

210. The Real Reason Long Pitch Decks Are A Red Flag
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Season 4

Text your thoughts directly to Rich.

I didn't have time to make a short deck, so I made a long one instead.

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About SpringTime Ventures
SpringTime Ventures seeds high-growth startups in healthcare, fintech & insurtech, and logistics & supply chain. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $600k. You can learn more about us and our approach.     

Transcript
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Over the past several months, we've spent a lot of time discussing the type of content that investors look for in a pitch deck, including timing and specificity.

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In doing this though, we've glossed over a key unstated function of the pitch deck—communicating the most important parts of the business to investors.

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Of course when you stop and think about it, this purpose is quite obvious and intuitive.

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All of the inks that has been spilled on how to craft a winning pitch deck is in service of exactly this.

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The suggestions offered in countless bogs are designed to help founders understand what investors, the target audience for any pitch deck care about the most.

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The pitch deck, doesn't just convey information on a company, it is a reflection of how a founder prioritizes and thinks about the business.

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If a founder can't condense the story to a reasonable amount of time or slides, it sends a red flag about a founder's ability to broadly focus on what matters.

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In other words, investors extrapolate about a founder's potential to identify and pull the levers that matter most to the business from the presentation.

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Just like there isn't an infinite amount of time to explain all of the different parts of your business to investors or any other stakeholder for that matter.

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There isn't an unlimited amount of time to do everything you might want to do in a day.

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One of the big risks and investor takes with an early stage team is their ability to execute and move the business forward.

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It's easy to get distracted by activities that don't drive outcomes and the pitch deck is a good litmus test to see if a founder can stay focused on what's critical to achieving success.

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As episode 54 highlights, the best CEOs are relentlessly prioritizing.

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If it isn't materially impacting long-term goals, it doesn't happen.

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Similarly, if a slide or piece of information is significantly adding value to the story about why your business is a great investment, it needs to go.

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As mark Twain said, I didn't have time to write a short letter, so I wrote a long one instead.

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The same applies to pitch decks.

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Don't get bogged down in details for an intro deck or pitch.

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Spend the time to hone the message and communicate the most important pieces of your business.