You have advanced big time! In Phase 1
you created a strong basis for the fundraiser. In Phase 2
you gained a clear understanding of how much money you should raise. And now in Phase 3 you’ve worked out a solid plan on how to triple your valuation with the money you’re going to raise.
It is now time to work out the first draft of your pitch deck (also called teaser). This may be the most crucial document needed for the fundraiser. It will be sent out to investors to gauge their interest — and if they are interested, it will serve as a basis for the first call.
So this document has two objectives:
Start writing a compelling storyline that contains the following information (based on a template
provided by Sequoia):
Make sure the deck is short and simple to understand: Max 12 pages, ideally 8-10. An average investor will spend a few minutes flipping through your deck, and may never have heard about your company before: If she does not immediately get it, you have lost your chance.
Keep the first version of the deck super simple: A good title, one or max. two key messages per slide, and potentially a picture or illustration to strengthen the message. Design is not important at this stage – a very minimal, clean version is all that is needed (design will come into play in Phase 5
are some pitch decks of startups that have successfully closed financing rounds at different stages. Have a look at it if you need inspiration.
Last but not least: We strongly recommend writing the teaser (and all the documents following in the next phase) in English, even if most of your potential investors may speak Spanish, Swahili or Finnish. If you have global ambitions, there is no way around this, and the earlier you start doing it the better.