fundraising

Two slides to cut from your pitch deck

There's a lot of conflicting information out there about how to construct the perfect pitch deck. But there's one thing that most early-stage VCs agree on.... most decks are too long.

At Hustle Fund, we recommend just 5 slides:

  • Team
  • Problem
  • Solution
  • Market
  • Traction

But many pre-seed and seed-stage decks are closer to 15 or 20 slides. Yowch.

If you're someone with a long deck, here are two slides we think you could cut (and why).

The Competition Slide

At first glance, it may seem like the competition slide is a no-brainer. But let's take a step back. What are we trying to accomplish with this slide?

1) that your startup is differentiated from the other players

2) that you stand a chance to win, despite the other players

Well, I'll argue that there are more effective ways of accomplishing these goals than the traditional competition slide.

Traditional competition slides typically showcase a matrix or positioning chart. You know – where your startup is in the center and the other key players are scattered around like constellations. The problem with the traditional competition slide is that it actually can do more harm than good. It causes VCs to compare you to those other companies, as if it's an apples-to-apples situation.

And when comparing apples to apples, VCs will probably not bet on the tiniest, least developed apple of the bunch (ie – you). Suddenly, you're defending your position instead of showcasing your potential.

So what's a founder to do? Rather than talk about your competitors, focus instead on showcasing your ability to learn and execute insanely fast.

Let me explain.

The best companies out there weren't the first companies to the market. They out-learned and out-executed all the other players. Stripe, Facebook, Tinder? These organizations were up against major competition when they launched. And look at them today.

So instead of a competition slide, showcase this instead:

  • how many customers you've talked to
  • insights from those conversations
  • results from all the growth + retention experiments you've run

Success isn't about who else is in the race. It's about how fast you can run, adapt, and leap over hurdles. Your ability to execute and learn at lightning speed? That's your superpower.

Remember, you're not just another player in the game. You're the game-changer.

The Exit Strategy Slide

Another slide we think you should cut from your deck: the exit strategy slide.

This is another slide that tends to do more harm than good. It's possible that founders include this slide because they want to prove they're thinking ahead. Or perhaps they believe VCs want to see a clear path to returns.

But here's the truth:

  1. It can make you look short-sighted. VCs want to know you're in this for the long haul.
  2. You might accidentally anchor yourself to a low valuation. We're talking $10M-$200M exits. Sounds like a lot, right? Not to a VC.

Here's the deal: VCs are looking for the next big thing. Think unicorns, not ponies.

In order for an early stage fund manager to produce fund returning outcomes, they need to see a 50x or 100x outcome on their investment into your business.

So, what should you focus on instead?

  • Talk about your customer acquisition experiments.
  • Show how much customers love your product.
  • Highlight ways the business could expand in the future, like through vertical or horizontal expansion.

Remember, VCs want to see huge outcomes. They're looking for the next Google, not the next Google acquisition.

Let's recap.

  1. The competition slide: It's not about who else is in the race, it's about how fast you can run.
  2. The exit strategy slide: Focus on building an empire, not planning your escape route.

Here's the million-dollar question (literally): Does every slide in your deck contribute to telling your startup's story and demonstrating its potential?

If not, it's time for some ruthless editing.