Most of us are visual thinkers. We like to visualize ideas, form an opinion about a product we can see and test, and connect our imagination to some kind of prior reference or judgment. The same applies to engaging others in your venture: if an elevator pitch or email from a founder is exciting, we (the VC) naturally want more colour and context right away. So if you think your pitch is likely to pique VCs’ interests, it’s a waste of opportunity not to send a deck.
But still roughly 20% of the proposals from start-ups seeking our funding, do not include a power point presentation along with their email. I am guessing that this might be based upon companies’ concern that we could break confidentiality, or fear, that by sending over their business idea in advance, they lose the “Aha” moment. But I strongly believe that this is a mistake and here’s my advice:
Send your power point presentation in advance. View it as part 3 of your “VC pitching trilogy”. Social proof, elevator pitch and slide deck.
A well-crafted power point presentation about your venture visually reinforces and substantiates your elevator pitch. It puts us in a better position to understand your idea and where you want to take it. And don’t forget the more subtle signaling effect of a high quality, well-structured investor presentation.
As a last piece of ~oft-enunciated~ advice, I would suggest to refrain from sending any word documents or even a 50-page business plan when you initially approach your potential investors. Words docs are more demanding of your readers and risk not being read for fear of boredom; and the business plan fits better in the process at a later stage – meeting #2 perhaps…
Image Source: © gradt - Fotolia.com
