How to Pitch Your Startup
Everything you need to know: From pitch deck templates to delivering great presentations
tl;dr Pitch Deck Templates
Don't have time to read the guide? You can access our Pitch Templates quickly below.
Introduction
If you're like most founders, you probably think about your startup 24/7. You wake up in the morning brainstorming product features, and you fall asleep at night contemplating marketing campaigns.
You can't remember the last movie you saw at the theater; your idea of a fun, Saturday night is collaborating with developers overseas. And stalking VCs on LinkedIn has become a favorite pastime.
Passion, hard work and a healthy amount of obsession are essential ingredients to entrepreneurial success. However, it's not uncommon for founders to become hyper-focused on initial ideas at the expense of an important fact:
A startup founder's ultimate success is dependent on others buying into his or her vision.
Translation: Your progress is contingent upon your ability to pitch the value of who you are, what you're doing and why it matters.
Reaching important milestones like raising venture capital, sourcing top talent and acquiring new customers all require the same skill — telling a story that makes someone say, "Heck, yeah!"
Sometimes you have 30 minutes to make that happen; other times you have 30 seconds. Regardless, your job is to clearly communicate why a given audience should care about your business.
Remember:
A startup founder's ultimate success is dependent on others buying into his or her vision.
Not sure how to start your fundraising journey?
The Startup Funding Bootcamp helps you build a strategy for today’s market and become investor-ready with feedback from real investors.
The purpose of a presentation deck is to enable entrepreneurs to effectively tell the story of their business. In many ways it's like a structured scientific proof. You want to walk the listener through an argument as to why this is going to be an amazing business.
One of your most powerful tools in achieving this objective is the pitch deck. Early-stage founders can use templates to create visual presentations that provide brief overviews of business value propositions, market opportunities, and metrics.
At the Founder Institute, we see dozens of decks every week. The majority of them are completely forgettable because someone overlooked a few essential ingredients to storytelling success.
The reality? Phenomenal pitches aren't thrown together in a weekend — they are thoughtfully contemplated, tested and refined.
In this guide, we'll make a case for why founders should master The One-Sentence Pitch, The Elevator Pitch, and The 1-Minute Pitch before tackling decks. We'll also provide guidelines for constructing narratives, customizing pitch deck templates and communicating with potential investors. These are many of the same techniques Founder Institute alumni have used to procure $1.85BN+ in funding.
Finally, we'll conclude with some examples of real decks utilized by globally recognized startups. After reading this guide, you will know exactly what it takes to create a compelling deck, give a memorable presentation and stand out from the crowd.
Let's get started...
Three Types of Startup Pitches
Think back to elementary school: Did your foray into your first language begin with a 1,200-page copy of War and Peace?
No, you started by learning simple words. Similarly, you shouldn't expect to construct 'the perfect' pitch deck right away. Instead, begin by constructing the simplest description of your business possible: The One Sentence Pitch.
As a startup founder, you will meet hundreds of people at various meetings, events and conferences. You will also, routinely, introduce yourself to complete strangers by email. In such situations, you have seconds to pique someone’s curiosity. And the best way to do that is a compelling One-Sentence Pitch.
This one-sentence statement explains what you do, who you serve and why it matters in simple language.
Founder Institute CEO and Co-founder Adeo Ressi has developed an awesome One Sentence Pitch Template, which you can see at FI.co/one-sentence-pitch
Use the template to craft your own.
Let's go through each of the items
Mediocre Elevator Pitch Example
Is developing a revolutionary, social utility
To help female consumers
Find deals online faster.
What’s wrong with this pitch?
- The offering is vague: A 'social utility’ could be a phone company. The pitch should read ‘ecommerce website.’
- The adjectives are empty: This person may think their business is revolutionary, but it’s an over-inflated claim. Let the numbers speak for themselves!
- The audience is vague: It could be more clearly defined (e.g. female consumers between the ages of 18 and 25).
- The problem isn’t obvious: Why can’t the target consumer use search engines to find deals online? Why is this platform better than her current options?
Including these details implies the person has done their homework, knows their stuff and has a viable business idea.
Improved Elevator Pitch Example
Is developing an ecommerce website
To help female consumers between the ages of 18-25
Shop for hip, baby products at wholesale prices,
With automated ordering of diapers and other staples.
As you can see, the Elevator Pitch format is deceptively simple. The key to standing out is (a) being super specific, and (b) emphasizing your startup’s ‘secret sauce.’
In this case, the founder’s unique differentiator is providing a fashionable solution at an unusually affordable price. Mastering this exercise is extremely helpful in refining Unique Value Propositions.
Once you’ve articulated your One-Sentence Pitch, you are ready to expand into a proper Elevator Pitch.
Our Elevator Pitch Template starts with your One-Sentence Pitch, and then expands to include the answers to these key questions:
- Why Now? Timing can make or break a company. Why is NOW the right time for this?
- Why You? Great companies start with great people. Why are YOU (or your team) the right people to execute on this?
- What is Your Ask? Everyone is a potential connector or source of feedback. Always be asking- whether it's for investment, potential collaborators, potential partners, advisors... or even just feedback!
Once you’ve articulated your Elevator Pitch, if you are raising money then you are ready to move on to the One-Minute Pitch. Here you can add several key details to your Elevator Pitch that are relevant to investors: such as Market Size, Differentiators, etc.
Check out the easy-to-use 'One Minute Pitch Template' from the Founder Institute.
Preparing to Pitch Investors
Before you begin creating your pitch deck, it’s important to consider the perspective of potential investors.
Top VCs see and hear dozens of pitches per week, both in-person and via email. Luminary Silicon Valley venture capital firm Andreessen Horowitz (a16z) hears from around 3,000 startups each year. How many of those companies procure investments? Only 15 of them.
Pre-requisites for Pitching to Investors
As Mike Suprovici (Founder Institute EIR) lays out in his Startup Guide: How to Raise the First Round of Funding for Your Startup, before you even begin to approach investors, you need the following:
A strong startup idea that is vetted and backed by solid market research. See this startup idea guide from the Founder Institute.
A prototype, a patent, or a proof of concept for the final idea.
A simple and scalable startup financial model that shows at least $10M in revenue after 3 years. See this revenue forecasting template from Aaron Patzer, Founder of Mint.com and FI Mentor.
A strong 10 to 15 page presentation that meets investors' expectations. We will discuss this in the section below.
An incorporated entity with a smart capitalization table ('Cap table'). See this simple cap table from Venture Hacks.
The ability to quit your job and live for six months on savings while you conclude the financing and launch the business.
Metrics that fit into these Startup Benchmarks.
Another factor to consider is what kind of investor you are approaching. Consider the stage of your own company, before trying to pitch to certain investors. Do you meet their pre-requisites? If you are raising your first round of funding, then you are likely still at a pre-angel or angel investment stage. As a result, you should NOT try to pitch venture capitalists.
What Investors Want to See in a Pitch
If you are ready to pitch angels or venture capitalists, it's critical to understand what those investors are looking for. In order to stand out, your pitch must include both (a) the specific informational components investors are seeking, and (b) a memorable story that illustrates a compelling opportunity.
Investors make decisions based on return and risk: How big of a return could they receive? And what might prevent them from receiving that return? Most VCs want a 10-20x return.
As a founder, your job is to convince investors your startup offers the greatest potential return, with the least amount of risk — in comparison to the others on their list.
Generally speaking, investors will evaluate risk in three main areas:
- Market Risk: Are you addressing a large, growing market?
- Product Risk: Do you have a sustainable competitive advantage?
- Execution Risk: Can your team ‘pull it off?’
The biggest challenge of making a memorable deck is building a storyline that echoes outside of the pitch deck. This means, building a storyline that is not only easy for investors to remember, but also a storyline that’s easy for them to repeat and regurgitate to other potential investors.
What Makes a Startup 'Fundable'?
During one of Naval Ravikant's (Founder of AngelList) talks at the Founder Institute, he described 'The Anatomy of a Fundable Startup', which you can watch below:
Similarly, when Aaron Patzer (Founder of Mint.com) described his Pitching Secrets to the Founder Institute, he outlined four main questions investors will ask themselves whenever they evaluate a startup pitch:
- Does it solve a problem?
- Does it solve that problem in a big market?
- Is it something that has a competitive or sustainable advantage?
- Can you make money or make a profit?
Address those four questions, and you will have a much higher chance of attracting funding from professional investors.
Guidelines
Think of your deck like a visual business plan. Your objective is to succinctly illustrate your marketplace knowledge, business model and qualifications for execution.
A standard deck consists of 10 to 14 slides. The most common mistake made by newbie founders? Providing too much detail, too soon. Jenny Lefcourt, General Partner at Freestyle Capital, cautions early-stage founders against making this error:
What's really important is to not go into the weeds of all the details because what you’re trying to do is give them enough information that they want more information. Your goal at meeting No. 1 is to get people interested enough that they want meeting No. 2.
Do:
Don’t:
Make Two Decks
Many founders are surprised to learn they need two decks: (1) a detailed version that can be shared with investors via email, and (2) a simplified version that can be elaborated upon in person.
It’s not uncommon for investors to request to see a deck before agreeing to meet. For this reason, your "reading" version should include enough detail to stand alone.
Conversely, a standard deck should be streamlined to ensure investors spend more time listening and less time reading. Most of the presentations available for online viewing showcase "listening" decks.
We recommend beginning with the construction of the "reading" deck, which can then be edited for pitch presentations.
Telling a Story
Is there a RIGHT way to organize a pitch deck?
The answer is both yes and no. In terms of information provided, there are certain points you absolutely must cover. However, you have creative freedom when organizing and presenting your slides, and telling a compelling narrative is paramount in delivering a strong pitch.
Read our Pitch Structure Guide
This guide will provide you with several top frameworks for structuring your pitch deck
How to Ace Your Presentation
Here are some of Adeo Ressi’s best pitch presentation tips:
Keep it under 10 minutes: Be respectful of your audience’s time, and summarize your ideas into a brief presentation.
Tell a story: Don’t just talk numbers — take your audience on a journey of why this business matters.
Have a clear UVP: Investors often hear dozens of presentations a week. Stand out with a real unique value proposition.
Show your passion: Don’t be afraid to let investors see your excitement over your idea.
Anticipate questions: Though it may not seem like it, getting interrupted is a good thing; it shows your audience is listening and cares enough to voice their concerns. Think through answers to potential questions ahead of time.
Investor Pet Peeves
Investors listen to a ton of pitches, so it is only natural for them to see (and be slightly irritated) by common mistakes.
One of the biggest pet peeves of Manu Kumar, of K9 Ventures, is when presenters say they will answer a question later:
You have to follow the flow. When somebody asks you a question, that’s the right time to address the question. Even if it means you have to jump ahead or jump back.
Over the years, we’ve spoken with several VCs who echo this sentiment — entrepreneurs must demonstrate flexibility, spontaneity and willingness to “jump off” script. You may be eager to talk about your team because it’s in the next slide. However, the investor sitting in front of you may care more about customer acquisition costs.
Which is why practicing your pitch in low-stakes situations is SO important. The more familiar you become with addressing unexpected interruptions, the more confidently you will handle diversions in meetings that matter.
Adeo Ressi (CEO of the Founder Institute) has something that frustrates him even more:
One of my biggest pet peeves is when founders pitch me a business, and they don’t clearly define who their customer is. If you don’t know The Who, it’s very hard for me to understand The What or The How.
See more investor pet peeves from funding experts Manu Kumar of K9 Ventures, James Cham of Bloomberg Beta, Adeo Ressi of the Founder Institute, and Alex Gurevich of Javelin Venture Partners below.
The bottom-line
Delivering “the perfect pitch” takes practice. It’s normal to feel nervous before speaking to a room full of strangers. However, the more you do it, the easier it becomes. Founders who want to expedite progress should consider joining an intensive accelerator program.
Successful Pitch Examples
Below are some examples of decks and presentations — from both big and small names — that have resulted in funding.
Notice the common elements we’ve discussed woven throughout the decks. And take note of any presentation strategies that might be advantageous to your startup.
Pitch Deck Examples
Mint.com
Founder: Aaron Patzer
Funding: $31.8M in 5 rounds, acquired by Intuit
Airbnb
Founders: Brian Chesky, Joe Gebbia, Nathan Blecharczyk
Funding: $4.4B in 13 rounds (as of March 2019)
Pitch Presentation Examples
Should you study the pitch presentations of legends like Steve Jobs, Marc Benioff and Elon Musk? Absolutely.
However, it’s often helpful to watch entrepreneurs who are less removed from your current stage of business. Below are some pitch presentations from up-and-coming Founder Institute Alumni:
Bridgr
Bridgr, a Montreal FI company founded by Amira Boutouchent, is an online platform that helps small and medium-sized manufacturing companies find and collaborate with validated and qualified independent experts to solve their operations issues, allowing them to grow quickly without the need for expensive and time-consuming consultancies.
Climber
Climber is a Lisbon FI company founded by Mário Mouraz. They build revenue management software that takes data from external sources, such as weather, air traffic, online shopping, and claims regarding a hotel’s reputation. They cross analyze all of that with information from the hotel user, in order to automatically calculate what to sell and how much to sell it for.
MeetGeek
Aplicate
Aplicate is a wellness mobile app founded by Liliana Medina. They create custom and comprehensive health plans in seconds through a personalized experience. In August 2022, Aplicate was acquired by Daisies.
Conclusion
Constructing a pitch deck is a crucial component of delivering a compelling investment presentation. A winning deck clearly articulates a target audience, a problem worth solving and a scalable solution. It also mitigates the three types of risk investors care most about: Product Risk, Market Risk and Execution Risk.
However, displaying something ‘technically correct’ isn’t enough. For better or worse, most investors associate good storytelling with entrepreneurial capability. Therefore, ‘mastering the pitch’ is crucial for founders wanting to secure venture capital. The easiest way to enhance your entrepreneurial storytelling skills, and improve your pitch, is to join a startup community dedicated to your success.
About The Founder Institute
The Founder Institute is a 3-month accelerator program designed to transform pre-seed founders into storytellers capable of achieving funding. We provide members with weekly business mentoring, pitch deck feedback and plenty of pitch practice opportunities.
Our startup curriculum is led by leading startup experts with proven track records of success. This approach has led to more than 7,500 companies launching and raising $1.85BN+ in funding.
7,800+
Portfolio Companies
$1.85BN+
Portfolio Company Funding
200+
Chapter Cities
100+
Chapter Countries
6
Continents
35,000+
Global Mentors & Advisors
The Founder Institute is the world’s most proven network to turn ideas into fundable startups, and startups into global businesses. Since 2009, our structured accelerator programs have helped over 7,800 entrepreneurs raise over $1.85BN in funding. Based in Silicon Valley and with chapters across 100 countries, our mission is to empower communities of talented and motivated people to build impactful technology companies worldwide.
