Imagine someone builds a beautiful house, but it’s completely landlocked. It’s entirely surrounded by other properties and there’s no road leading to it. None of the windows face south and the doors are all on the second floor.
Inside, the occupants worry about one thing: what color to paint their house. Because it’s a house and always will be. It will never be a home.
I was recently asked to edit an investor pitch deck. And it was one of “those” houses. It would have meant a lot of money, but I’m no painter.
So I politely declined. Why?
The deck targeted ten industries simultaneously. Investors want focused positioning. First decide where your product can help an underserved market or unmet need. Show investors you know the market space you’re entering.
Fall and spring come and go one time each year. Investment seasons are tied to them. Plan outreach ahead of time. Starting in October to land meetings in November isn’t going to work. Work with the seasons, not against.
There is a rule of three. It also applies to pitch decks. The process typically sees three decks: a teaser deck (5 pages), meeting pitch deck (10-12 pages), and a due diligence deck (up to 20 pages). Don’t go in the door on the second floor by sending the wrong deck at the wrong time.
I’m curious. What do you do when you spot one of “those” houses, but the price is right? I remind myself I’m not a painter.