How to Make a Pitch Deck for Investors Part 10 Slide 8 Your Competition Slide | Ep. 120 | Business Podcast
Summary
Part 10 of our mini series on how to make a pitch deck for investors to raise money for your company in 13 slides.
In this episode we continue with your Competition Slide. We explain exactly what to put on your Competition Slide of your pitch deck and how to present it when you’re meeting with investors.
We also drop a high percentage tip (HPT) of a mistake you want to avoid when presenting.
All these little things add up to seperate you from the other deals that investors are likely looking at so they invest money and time in you and your company and not the others.
What is this Perfecting Your Pitch Mini Series?
We’re perfecting your pitch so you have the very best chance to raise the money from investors to take your business to the next level.
If you want to raise or borrow money you need the right pitch deck. Do it wrong and it’s the difference between raising the money you need for your business and not raising any.
You’ll get it right by following this simple, proven, battle tested thirteen slide pitch deck outline.
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Hello Friends. Welcome to the show. Today we continue our mini series on how to make a pitch deck for investors so you can raise money for your company and we are on part 10 slide eight. Your competition slide, here we go. Welcome to build a business success secrets. The only podcast that provides straight talk for entrepreneurs whether you’re an entrepreneur starting with an idea or growing your business. This show is for you.
We’ll teach you how to build a strong mindset, powerful body and profitable business so you can achieve success. And here’s your host, Brandon. C White Live Eight, your competition side on this slide, we’re going to talk about who is your competition and what we really want to answer here is who is your competition? Where are they? How are you? Different and possibly what can you learn from them that you can leverage to either do better or different. There’s a few different ways that you can present your competitors on this slide.
One way is to do a square with four quadrants and you can have in the upper left, your challengers, in the right, your leaders in your lower left, the niche players and in the right visionaries, which is ideally where you’re probably going to put yourself with an arrow going up into leaders and on your X axis, that’s the axis running a horizontal. You could have a spectrum of completeness of vision and then within each one of those squares you would put your competitors on where they are in that quadrant and then on your why, which is the vertical axis.
You could put the ability to execute an ability execute could be rated on all different ways. Whether they’re bootstrap their venture funded, whatever that is, this type of presentation is something that happens in Gardener research what they call the magic quadrant and investors will generally be used to seeing this. It’s a good way to present competitors. Another way to do it is you could just have an X and Y axis and your X axis could be performance, your Y axis, your vertical axis could be price and then you could place all of your competitors in there.
What I like to do is just put my competitors logo. Now one thing when you present this slide that I don’t want you to do is I don’t want you to say your competitors name. What you do is you point to the slide, Maybe you have a little laser pointer, Maybe you’re near the screen where this is being presented and you go up and you point, but don’t say their name. We want the investors to remember your name, not the competitors. And saying a competitor’s name can trigger things in people, especially when you have big companies up there.
If you’re a technology company, you put Microsoft up there and you say Microsoft, that’s going to trigger a reaction. Yes. It’s going to trigger reaction by seeing it, but it’s going to trigger an even more impactful reaction in somebody when they hear it and then you’re going to get this line of questioning or if you’re an e commerce company that’s selling multiple goods and you put amazon up there, whatever.
If your clothing company, you put Patagonia up there, you put lulu lemon is gonna start to throw off red flags. But you can point to it and say these guys are here and we believe that we’re better or that we’re better positioned or that our product is better because, and you can do it that way, but just don’t mention the competitors name. It doesn’t help you. There’s nothing to gain. And we want people to remember our name and you want to say your product’s name several times as many times as possible without sounding sort of crazy in the presentation that you’re overemphasizing it. But we want people to remember. You also need to remember is you’re presenting to these investors that you may not be and likely aren’t the only deal or only meeting they’ve had today. So you want to pound that into them that they remember you now.
They’re going to remember you because you have something special and something special can be a really cool product and as importantly a product that’s starting to take off and has traction, which we set up in the last slide. So again, these are two ways that you can do it, you could do it as simply as a third way of just putting logos on the screen and you could rank them. Some people put a matrix up there with the different types of functions and features and why they’re better. I don’t like that slide. I don’t like doing it that way. And the reason is is because usually the font is small, the columns are hard to read and all people are doing is they’re trying to read that slide.
In fact, sometimes I’ve seen the investor get up out of their chair, walk towards the screen so they can actually start reading it and and here you are, you’re trying to talk about this and guess what? They’re not listening. Not because they don’t want to listen, but because they can’t read the slide and listen to you at the same time. So try to avoid that. That could be something in a follow up meeting or follow up materials once you’ve got people excited about your deal and that could be part of the due diligence process where you then present this intricate spreadsheet that shows why you’re better on a function and feature basis one by one however you want to do that.
But I encourage you to keep it as simple as possible. And the first two options here where you can do it by quadrant or you can just do it by a simple X. And Y. Access is going to be your best bet. Put your competition slide together and until our next episode, I’m rooting for your success. Thanks for being generous with your time and joining us for this episode of build a business success secrets. Before we go, let me ask you a quick question, Are you the type of person who wants to get 100% out of your time, talent and ideas? If so, you’ll love our monthly built a business Success Secrets newsletter. It’s a monthly playbook about the inner game of building a successful business.
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