What does an investor look for in your pitch deck?

Can the reader understand what is being presented?

Carta explains that a deck can accompany a spoken presentation or stand alone as a shared document. Do not assume that a version built for conversation explains itself when sent without you; decide the reading context first.[4]

Before sending, note the purpose: an introduction, a progress discussion or a specific request. Check the recipient’s published submission instructions. Avoid calling the version suitable for every investor. Choose the level of detail needed for this conversation and separate the review copy from internal team notes or material you are not authorised to disclose.

What is the customer’s problem, and what changes?

Sequoia’s framework connects the customer’s problem, solution, timing, alternatives and market. These topics help examine the company’s logic; including them does not establish investment attractiveness or mean every investor will give them equal weight.[3]

Review exercise: replace ‘every company needs us’ with a specific customer, a difficult task and the existing alternative. Identify the available evidence, such as an interview, operational test or usage result, and its limits. Label a hypothetical illustration clearly instead of presenting it as a customer testimonial or commercial contract.

What has actually been learned or achieved?

Michael Seibel discusses progress in relation to what has been achieved and the time spent, with attention to product and customers. That is the author’s perspective, rather than a published numeric threshold applied by every investor.[1]

Create an internal table with three columns: achieved, being tested and not yet known. Do not equate a waiting list with active usage, or a letter of intent with received revenue. If the metric definition changed during the period, explain the change rather than plotting incomparable values as one continuous growth curve. Mark who can answer questions about each figure.

Can the reader examine the numbers and request?

Carta’s outline includes financial information and how requested funds would be used. Treat these as subjects to explain clearly, not as advice from this guide about an appropriate round size or company valuation.[4]

In your worksheet, connect proposed spending with the work it supports, a review date and conditions that could change the plan. Separate historical information from scenarios. Place the source, limits and included customers beside a market estimate, rather than turning a large number into an unexplained projected share. When a financial answer is unknown, prepare the question and supporting document for a qualified adviser.

What still needs further verification?

Check that team responsibilities, product information and supporting documents agree with the deck. Keep a list of difficult questions, including assumptions that might fail or resources not yet secured. An opened document or a request for another version is not an investment decision. Silence is not a documented assessment of company quality either. Seek clarification when communication instructions permit, without inventing an unexpressed intention.