As a startup founder, you already know that attracting investors is a critical make-or-break moment for your venture. During the challenging process of startup fundraising, your pitch deck should stand as one of the most essential tools to attract the right investors and secure the capital you need. The ins and outs of a successful pitch deck were explored in Vestbee’s ebook - Perfect Pitch - The Ultimate Startup Guide - which can be downloaded here.
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In our previous articles, we've explored some slides of the compelling pitch - the team slide, and the all-important problem slide. Now, having effectively set the stage by highlighting the problem your startup is set to solve, it's time to showcase your plan on how to do it - it’s time for the solution slide!
So, without further ado, let's learn how to create a compelling solution slide in Investors Pitch Deck.
What is a solution slide?
The solution slide should directly follow the problem slide and be in direct response to what you have already explained to the investors. Its primary goal is to provide a clear response to a fundamental question: What problem are you going to solve?
This slide is very important in the entire presentation, as it should distill your entire business project into 2 or 3 key sentences. It serves as a reference point for investors to understand the essential value that your startup brings to the market. And when the slide is placed before the technical details of your product and its functionalities it can become a jumping-off point for the more detailed slides that will follow.
Why should you include a solution slide in your Investor Pitch Deck?
The solution slide is a crucial part of the Investment Deck because it showcases your startup's ability to address a specific and well-defined problem with a compelling solution. By including it in your pitch you demonstrate to investors that you have a clear understanding of what your startup aims to achieve. Without it, even the most technically advanced solutions can fall flat, leaving investors asking: “Wait, why exactly are they doing this whole thing?”
How to create a perfect solution slide?
Your solution is a simple and straightforward explanation of what your product is and how it’s going to solve the problem laid out in the previous slide. It should be focused on the core value proposition, highlighting your uniqueness. To ensure the maximum effectiveness of your solution slide, consider the following key points:
- Be direct and visually linked. Your solution should be a clear and direct response to the problem slide. Consider visually linking the two slides to enhance understanding. Keep in mind that investors should quickly grasp your solution without spending too much time digesting the content.
- Address pain points and showcase value. Your solution should demonstrate how it remedies your customer's pain points or provides additional value. If you have time and space to go more into detail consider highlighting the benefits and competitive advantages that make your solution unique, and identifying the gaps it fills in the current industry landscape.
- Be realistic but innovative. Strive for a balanced approach that is both realistic and innovative. Avoid overly complimentary language or excessive exclamation marks and hyperboles.
- Don’t overcrowd the slide with excessive technical details. While a general overview of the technology or basic product features can be included, remember that there will be more time and space to delve deeper into these aspects later in the pitch.
How to leverage the power of storytelling in a solution slide?
When it comes to crafting the perfect pitch deck, one aspect consistently emphasized by investors and experts is storytelling. It is all about crafting a compelling narrative around your product. This holds true even in the world of VC negotiations, where storytelling becomes a potent marketing technique that forges an emotional connection with investors.
Incorporating storytelling into your pitch deck can elevate the significance of the solution slide, making it a fundamental building block of the narrative surrounding your startup. By doing so, you invite your audience to connect with your proposition on a deeper level, allowing them to envision themselves as characters in the story, with your product or service as the perfect solution to their needs and challenges.
As you construct your pitch, embrace the classic storytelling technique: begin with a description of a problem that highlights the pain that can be experienced by many users. Then, gradually showcase how your innovative product or service can be a remedy to it, positively impacting lives or even transforming industries.
Another thing to keep in mind is that if you find yourself with extra time or space during your presentation, consider taking investors on a journey of how you arrived at your solution. This demonstration of your thinking patterns and problem-solving approach can strengthen trust and confidence in your startup's abilities.
Key questions your solution slide should answer
Crafting a concise and impactful solution slide may seem challenging, as you must distill your product's essence and leave out all the extra details. To help you define your solutions clearly, consider these guiding questions:
- What problems are you solving?
- How are you going to solve these problems?
- How is this problem currently being solved by your customer base?
- Why are you better?
- Why should your solution be developed and invested in?
Remember, a perfect solution statement can be communicated in just 1 or 2 sentences - keeping it succinct and to the point is key to an effective solution slide.
More tips for a perfect solution slide
- Be prepared for follow-up questions. While the slide should be concise, ensure you have a deeper understanding of your solution to address any additional questions from investors.
- Balance information and graphics. Avoid overcrowding the slide with excessive details or complex flowcharts. Instead, opt for a visually clean and straightforward design.
- Use clear and concise language. Avoid using overly technical jargon that might confuse investors who are not familiar with your industry.
Too many problems or too many solutions?
One common mistake is to include too many issues in your problem slide. When the problem is defined too broadly, the solution slide can't adequately address all aspects, leaving your solution looking incomplete or inadequate. To avoid this, clearly define the problem and ensure your solution is tightly linked to it.
On the other hand, presenting a solution that is too broad is equally problematic. Listing an overwhelming array of product functionalities without focusing on the most critical aspect dilutes your message. Limit the scope of your solution slide to what truly matters.
Remember, the solution slide isn't the entire argument you're making; it serves as a guiding light for the rest of the pitch deck. At this point, investors only need to understand your solution - the time to convince them that it’s a perfect one is still ahead of you!
Examples of good solution slides from successful startups
Airbnb Source
Revolut Source
Careerist Source
Zestful Source
Conclusions
In conclusion, the solution slide plays a crucial role in your Investor Pitch Deck. In order to succeed, make sure you provide a clear response to the problem you're solving and use the power of storytelling to connect with investors. Avoid cluttering the slide with excessive details or jargon and try to strike the right balance between information and visual appeal. And remember to let your solution slide set the course for the rest of your presentation.
For more assistance in writing your Investor Pitch Deck and pitching your startup to investors see the following articles:
- How to Create a Perfect Problem Slide in Your Pitch Deck?
- Tips for Crafting the Perfect Ask Slide In Pitch Deck
- Common Mistakes In Startup Pitch Deck To Avoid During Fundraising
- A Bunch Of Tips On Pitching Your Startup To Investors
- How To Write Elevator Pitch For Investors
- How To Create A Pitch Deck That Will Get Your Startup Funded
And for even more insights on how to create a perfect investor pitch deck click here to download Perfect Pitch - The Ultimate Startup Guide, an ebook prepared by a team of experts and investors addressing the question of how to make your startup fundraising process successful.
Related Posts:
Startup Fundraising: How To Create The Perfect Product Slide In The Investment Pitch Deck (by Katarzyna Groszkowska, Editor, Vestbee)
Startup Fundraising: How To Create The Perfect Market Slide In Your Startup Pitch Deck (by Katarzyna Groszkowska, Editor, Vestbee)
