LEGENDS & MYTHS
Created on November 6, 2022
LEGENDS & MYTHS: Project Plan
The Problem If there wasn't a problem to begin with, you're going to have a hard time getting your business going. Don't go into competitors here. You'll be able to do that later in your deck. Instead, explore the problem you've discovered and who it affects. Consider using storytelling to make the problem you're going to solve feel relatable. The more an investor can imagine this problem as one that they or people around them have, the more likely they'll be interested in your idea.
The Solution There's a bit of debate over when to present the solution to the problem you've presented. Some suggest leaving the solution slide for after your slide on your target market. If the opportunity is obvious, you may want to build suspense up to your solution instead. If, on the other hand, you think the size of your target market will surprise investors, you may want to save it for after. Either way, your solution slide should explain the big idea behind your product. A good visual will go a long way here.
The Market This is the part where you talk about how large of a market you're targeting and who you imagine will be using your product. How big is this opportunity really? Whenever possible, include important figures such as the amount of money is currently being spent in your target market. Rather than trying to make your market out to be huge, it's likely to be more appealing to investors if they see that your market is reachable and well-defined. Keep it real because you're unlikely to fool potential investors who've played this game before.
FEVEREIRO Use stories and illustrations or pictures to show your solution in action. It will have a bigger impact than simply describing your product.
The Team Highlight key members of your team, the experience they have to offer and their past success. You should make a case for why you and your team will be able to make this product successful? Why you and your team and not someone else? If your team is still missing key members, explain which positions need to be hired for and why they're necessary.
Your Competition Don't underestimate the importance of this slide. In a DocSend study which analyzed 200 pitch decks, investors spent an average of just under 4 minutes on each pitch deck and spent the most amount of time on the slides describing the team, financials, and competition. Think you don't have competition? Think again. Even if you're opening up a market that's new, the people you're hoping to win over are currently using some alternative for their problems. Show what you've learned from studying your competitors before explaining where you differ. What's your advantage that will make potential clients choose you over another solution?
Click on the pushpins to learn more about what to include in each point.
Traction Investors are looking to see that you've tested at least part of your business model and that it has early indications of working well. This is where you should talk about any sales you've had or early users.