Hacker News new | ask | show | jobs
by ThomPete 1105 days ago
In my experience having pitched to VC's it's not that there is a perfect deck but many really bad ones.

I.e. there is diminishing returns on a "perfect" pitch deck. You just want to be in the category of not sucking and the decks level of perfection is no longer important.

Today I would even go as long as to say the pitch deck is much less important than a demo.

You can in theory pitch in an email, the rest is just to make everyone feel good about giving and receiving the money.

3 comments

The secret to raising money is getting the first offer. Everything falls into place after that, because investors are herd animals. Your pitch could go in one ear and out the other, but they'll suddenly start paying attention if you end it with "we've got an offer for $X at $Y cap, it's not from our ideal investor, and we'd prefer you lead the round, but we told them we'd get back to them by Wednesday and we just want to get back to work on building this thing."
100
> but many really bad ones.

Indeed, having spent 4 years at a VC where we all took part in initial filtering of decks, the typical reasons decks failed to even make it to our investment committee, were:

* Not describing the team, or not having a team, or thinking you could outsource key functions (e.g. we once rejected a "tech company" where the entire tech function including the CTO were outsourced to a consultancy with no link to the founders)

* Not clearly explaining the idea.

* Not setting out the size of the opportunity clearly.

* Not setting out unit economics.

* Not setting out a long enough plan (some might want 5, we wanted 10) that sets out an optimistic but possible case to a huge exit. If you go to an angel, they might be ok with a case for a 10m acquihire, but for a VC putting in $5m+, you better have a path towards a $100m+/year revenue business even if it's a long shot. It doesn't matter if the opportunity is huge if you plan to take a conservative approach that will hardly get you any of it.

If that's true.. I can make demos all day. Sometimes multiple. Or for something complex a few weeks.

Is there a service for people like me who are much better at that than other things?

I guess that's Product Hunt or something. But it seems even with that it's fairly marketing and networking focused.