The ‘asking and using funds’ slide is a chance to shine as a founder. Don’t waste it.
There is one slide that almost every founder is wrong when they put together a pitch deck to raise money from venture capitalists. The slide is usually known as “the question” and usually lives towards the end of the pitch deck.
It aims to do something very simple: explain how much money a startup is raising and for what. It shouldn’t be rocket science, but it’s almost universally a struggle to get it right.
These are the most common errors:
- Forgot to record the slide at all.
- Do not list a specific dollar amount that you are raising.
- Includes a rating on the slide.
- Just leave out what the money will be used for.
- State a specific runway, for example, “This will allow us to run for 18 to 24 months.”
Let’s explore in detail why these mistakes are so detrimental to your fundraising process and how best to incorporate these points into your deck.