We look at a pitch deck for about three minutes on average. Which questions do we want answered in that time and which slides make the difference?
We read an average of 22 pitch decks a week and spend about three minutes on each in the first read. At the end of that time we make one of two decisions: schedule a meeting to look in more detail, or thank the founder with feedback. Here are the 10 slides we look for in those three minutes.
1. A one-sentence summary
The cover should say what the company does and who it is for in a single sentence. Instead of phrases like “an innovative AI-powered platform,” we prefer a concrete sentence such as “software that automates small businesses' collections.”
2. Problem
Who experiences the problem, how often, and how do they solve it today? A problem story supported by numbers is more effective than hundreds of words of explanation.
3. Solution and product
Product screenshots or a short demo. The result the user gets, rather than technology details, should stand out.
4. Market size
A market size calculated bottom-up rather than top-down (number of customers × average annual revenue) is more convincing.
5. Traction
This is often the slide investors look at most: monthly revenue, growth rate, number of customers, pilots, waitlists. The chart's source and time range should be clear.
6. Business model and unit economics
Pricing, gross margin, customer acquisition cost (CAC) and customer lifetime value (LTV). If there is no revenue yet, explain how assumptions will be tested.
7. Competition and differentiation
Teams that ignore competitors do not inspire confidence. A two-axis positioning matrix and a “why we win” sentence are enough.
8. Team
Who is the right person for this job, in which area and why. Honestly naming critical missing roles builds trust.
9. Financial plan and ask
The amount you are seeking, the milestones in 18 months and what this amount will be spent on. You can calculate your cash runway with our runway calculator.
10. Vision
What will this company become in 10 years? A story that shows how you start in a small market and expand into a large one is the last part of the deck to be remembered.
Final tips
Keep your deck to no more than 12–15 slides, one message per slide, and a PDF no larger than 20 MB. You can find the sample template our team uses in the Reports and Documents section.
Common mistakes on slides
The mistakes we see most are: too much text, unverifiable market size figures, not listing competitors, hiding gaps in the team and truncating axes on traction charts. If we cannot read a slide in 30 seconds, neither will an investor.
