The ‘Ask and Apply Funding’ slide is an opportunity to shine as a founder. Don’t waste it.
There is one slide Almost every founder makes a mistake when putting together a pitch deck to raise money from venture capitalists. The slide is usually called the “gate” and usually resides at the end of the pitch deck.
This means doing something very straightforward: explaining how much money a startup is raising and why. It may not be rocket science, but it’s almost universally a struggle to get it right.
Here are the most common mistakes:
- Forgetting to include the entire slide.
- You don’t specify a specific dollar amount to raise.
- Including the assessment on the slide.
- Avoid what the funds will be used for.
- Listing a specific runway, such as, “This will keep us running for 18 to 24 months.”
Let’s take a closer look at why these mistakes are so detrimental to your fundraising process and how you can best incorporate these points into your deck.