I've seen over 300 pitch decks in the past five years. Most of them fail for the same reasons.
It's not that the businesses are bad. It's that the decks don't tell a clear story. They bury the important stuff, include the wrong details, and make investors work too hard to understand what's happening.
Here's what actually works.
The First Slide Is Everything
Investors look at dozens of decks. Many make a pass/continue decision by slide three.
Your first slide needs to communicate:
- What you do (one sentence)
- Why it matters (one sentence)
- Something that makes them lean in (a number, a hook, a surprise)
Bad: "[Company name] is an AI-powered platform leveraging machine learning to transform the future of work."
Better: "Acme replaces 80% of manual HR data entry. We're saving Fortune 500 companies $2M each, annually."
The second version tells me what you do, the impact, and who cares. In two sentences.
The 10-Slide Structure That Works
After seeing what works and what doesn't, this structure consistently gets meetings:
- Title: Company name, one-line description, your contact info
- Problem: The specific pain you're solving
- Solution: How you solve it (brief—demo later)
- Traction: What you've achieved so far
- Market: Size of the opportunity
- Business Model: How you make money
- Competition: How you're different/better
- Team: Why you're the people to do this
- Financials: Key numbers and projections
- Ask: What you're raising and how you'll use it
That's it. Ten slides. Resist the urge to add more.
The Problem Slide Mistake
Most problem slides are too abstract: "Businesses struggle with digital transformation" or "The healthcare system is broken."
These are too big to mean anything. Investors nod and learn nothing.
Be specific:
- Who exactly has this problem?
- How bad is it? (Quantify if possible)
- What do they currently do about it?
- Why is now the right time to solve it?
"HR teams at companies with 500+ employees spend 12 hours per week manually entering data from disconnected systems. 67% report data errors that affect payroll."
Now I understand the problem.
Traction: The Most Important Slide
Traction is the proof that you're not just an idea. Investors care about this more than almost anything else.
Show:
- Revenue (or pipeline, if pre-revenue)
- Users/customers (and growth rate)
- Engagement metrics (if relevant)
- Notable logos or partnerships
- Key milestones hit
Be honest about stage. Seed decks with pre-revenue traction are fine—but don't pretend you're further along than you are.
If traction is limited, explain why: "We're pre-launch but have 3 signed LOIs totaling $150K ARR."
The Market Slide Trap
Market slides usually fail in one of two ways:
Too big: "The global HR software market is $30B." Great—what does that have to do with you?
Made up: "If we get 1% of the market..." Nobody gets 1% of a market just by existing.
Better approach: Build from the bottom up. "There are 4,000 companies in our ICP with this exact problem. At our target contract size of $50K, our serviceable market is $200M. We have a path to capturing 5% within three years."
This is believable because it's grounded in specifics.
Competition: Don't Lie
Saying "we have no competitors" tells investors you either don't understand your market or you're being dishonest.
Everyone has competitors—even if they're just "the current way of doing things" (spreadsheets, manual processes, doing nothing).
Show a competitive landscape that demonstrates you've thought about this:
- Who else is solving this problem?
- How are you different?
- What's your defensible advantage?
The goal isn't to pretend competitors don't exist. It's to explain why you'll win anyway.
Team: What They're Actually Looking For
Team slides often list impressive credentials that don't matter.
What investors want to know:
- Why are YOU the right people to solve THIS problem?
- Have you worked together before?
- Do you have relevant domain expertise?
- Have you done this before (even if not successfully)?
"Former engineer at Google" matters less than "spent 8 years in HR tech and built the data pipeline at [Company] that we're now replacing."
The Financial Slide Reality
Early-stage investors know your projections are guesses. They're not looking for accuracy.
They're looking for:
- Do you understand your unit economics?
- Are your assumptions reasonable?
- Do you know what drives growth?
Include:
- Current metrics (ARR, burn rate, runway)
- 2-3 year projections (with key assumptions stated)
- Unit economics if you have them
Don't pretend to have certainty you don't have. "Our model assumes X, Y, Z—we'll validate these in the next 12 months."
The Ask Slide
Be specific about:
- How much you're raising
- What you'll do with the money
- What milestones you'll hit
"We're raising $2M to hit $1M ARR. Breakdown: $1.2M for sales and marketing, $600K for product development, $200K for operations. This gets us to Series A metrics in 18 months."
Don't be vague. Investors are deciding whether to fund a specific plan.
Design Matters (More Than You Think)
A messy deck signals a messy company. You don't need a professional designer, but you need:
- Consistent fonts and colors
- Readable text (minimum 24pt for presentations)
- One idea per slide
- Visuals that clarify, not decorate
If something takes two reads to understand, simplify it.
Before You Send
Test your deck by asking someone unfamiliar with your business to summarize it after reading. If they can't clearly explain the problem, solution, and why you'll win, revise.
The deck is just the beginning—it gets you in the room. But it won't get you in the room if it doesn't tell a clear, compelling story in under 10 slides.
Need help with clear, persuasive business communication? Try WriteBetter.ai to craft content that gets results.
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