Top 3 TIPs to improve your (pre)seed pitch deck today

June, July, October 2023 + January 2024

Having reviewed 100+ pitch decks for VCs, accelerators, and as an advisor and mentor, this year alone (!). I’ve got some/many opinions :) – here, here, and here.

Here are the top 3 mistakes I see the majority of the founders make, time and time again. By fixing just these 3 things today -- your pitch deck will stand out!

Mistake #1: Assuming the audience has Ph.D. or 10+ years of experience in your field

I shared this tip at a panel I spoke at last month on the topic of "Expanding in the US and fundraising, everything you need to know". Yes, I’m flattered :), but I also can’t follow along; so your deck gets low scores and is sidelined.

Signs that the pitch deck is too technical, beyond the (technical) word choices:

Math/chemical formulas, (uncommon) acronyms, anatomical images, technical diagrams, or pictures of computer parts -- without easy-to-understand context.
Mentions of "vector databases" -- or any databases for that matter by name. (This happened twice last month!)
Videos of surgeries (that I can't follow along and have no idea what's going on as a non-surgeon, can't tell where the product is or how it's used, and I just get queasy...) or of product simulations -- and not demos (that leave knowledge gaps around how it actually works in practice, how much has been developed, and what's still missing).

My co-panelists had additional advice:

Yannis Moore took it a step further and pointed out that if Analysts don't understand the pitch, they also can't pitch the start-up to their VC partners. So you’re not getting that next meeting.
TIP: Guillaume Bourcy suggested updating the deck so that an 8-year-old gets excited about your product.

Mistake #2. Solution doesn't tie into current customer habits to solve their pain point(s)

It's not clear what the status quo that you're disrupting is.
Sometimes it seems like the solution was developed independently of the customers and you’re now raising money, to figure out what that solution is – and pivot.
TIP: I can’t stress enough the "fake front door test" to help you identify and understand your customers’ needs, expectations, and habits ASAP, ideally before developing an MVP.
1. - Lego IDEAS is a great example of the "fake front door test": if not enough people support the project, it won't get created.

Mistake #3: Forgot to mention milestones you're raising funds to achieve

What outcomes will the raise help you move the needle on?
Instead, you mention that the raise will help you transition to full-time founder, hire people and/or use it for ad-spend. This raises investment risk and your deck gets sidelined.

TIP: Don’t forget who you talked about milestones using the X-Y-Z format on your resume; the “X” or accomplishment is key to calling out here.

Bonus Advice: Consider Alternatives to VC Funds

I don’t have to tell you it’s hard to fundraise right now. It’s even harder if you’re fundraising to fund the development of an MVP. Here’s what to try instead:

"Fake front door test"
Wireframes or no-code apps to DIY an MVP
NSF SBIR Seed Fund grants for start-ups with a fast-pitch, 1-page application and ~1-month turnaround time for decision or feedback on what can be improved (!), for non-dilutive grants up to $2M
- - Texas A&M SBIR training on YouTube can also help you prepare to apply (I recommend Sessions 1 and 3 over the panel sessions)

Top 3 TIPs to improve your (pre)seed pitch deck today

Mistake #1: Assuming the audience has Ph.D. or 10+ years of experience in your field

Mistake #2. Solution doesn't tie into current customer habits to solve their pain point(s)

Mistake #3: Forgot to mention milestones you're raising funds to achieve

Bonus Advice: Consider Alternatives to VC Funds

If you’d love more feedback on your pitch deck, schedule a flat-fee session. Good luck!