Elevator Pitch vs Pitch Deck - A Guide for Entrepreneurs
Knowing how to present your business is crucial. Two key tools for presenting are elevator pitches and pitch decks. They serve different purposes but are essential for success. Both are responsible of conveying various aspects of your business to the audience.
What Is a Pitch Deck?
A pitch deck is a set of slides that is used to showcase information about the business to the investors in a compelling way. This information includes the overview of the company, business model, roadmap, team members and the financial projections.
Pitch deck is crucial in fund raising for the business. It provides all the necessary details investors are looking for. Before an investor can move forward with investing in your business, they need to understand your business, goals, and roadmap.
What’s in a Pitch Deck?
A pitch deck is used mainly in formal settings like investor meetings, so it provides a comprehensive view of the business. Pitch decks include various elements:
- Introduction: Who you are and what you do.
- Problem: The gap your business fills.
- Solution: How your product or service solves the problem.
- Market: Who needs your solution and why.
- Product: What you offer and its benefits.
- Traction: Your business growth and success so far.
- Team: Who is behind the business.
- Financials: Your current financial status and future projections.
How long is a good pitch deck?
Typically, a pitch deck is about 15 to 20 slides for a comprehensive overview. The length of the pitch deck varies depending on the business. A good pitch deck should be short and concise with appealing visuals that align with your business.
If you are willing to get professional writing services for your startup. You can hire our professionals for pitch deck creation services.
What Is an Elevator Pitch?
An elevator pitch is a short, persuasive speech about your business. It quickly explains your business idea in a time it takes on an elevator ride. It’s used in casual settings like networking events. The goal is to spark interest and lead to more discussions.
Elevator Pitch Vs Pitch Deck
The main differences when it comes to elevator pitch vs pitch deck are:
- Purpose: Elevator pitches are brief teasers. Pitch decks provide comprehensive business details.
- Usage: Elevator pitches are for spontaneous scenarios. Pitch decks are for formal presentations.
- Length: Elevator pitches are short, about 30 seconds to 2 minutes. Pitch decks are longer and more detailed.
- Audience: Elevator pitches target a broad audience. Pitch decks are for those already interested in your business.
- Creation Process: Elevator pitches focus on the essence of your business. Pitch decks need detailed planning and research.
How to Write an Elevator Pitch?
Here are some tips that can help you in building your elevator pitch.
- Define your goal.
- Clearly explain what you do.
- Highlight your unique selling proposition.
- Engage with a question.
- Practice to ensure a natural and confident delivery.
Understanding the difference when it comes to elevator pitch vs pitch deck is vital. Both play distinct roles in conveying your business idea. Mastering them opens doors to new opportunities and success. These opportunities can lead to funds, loans, and partnerships.