{"id":81,"date":"2021-09-08T20:09:40","date_gmt":"2021-09-08T20:09:40","guid":{"rendered":"https:\/\/blog.mazoudier.com\/?p=81"},"modified":"2023-01-03T14:01:30","modified_gmt":"2023-01-03T14:01:30","slug":"pitching-without-slides-is-a-thing-and-you-should-be-doing-it","status":"publish","type":"post","link":"https:\/\/blog.mazoudier.com\/index.php\/2021\/09\/08\/pitching-without-slides-is-a-thing-and-you-should-be-doing-it\/","title":{"rendered":"Pitching Without Slides Is a Thing (and you should be doing it)"},"content":{"rendered":"\n<p><em>This can be highly controversial and many founders simply won\u2019t manage to do it. I do still think preparing to pitch without slides can be an interesting exercise. If you manage, it works like magic, but be aware it\u2019s not for everyone \u2013 and that\u2019s okay. There\u2019s plenty of other strategies you can learn in order to lead your funding round.<\/em><\/p>\n\n\n\n<p><strong>Die, pitch, die!&nbsp;<\/strong><\/p>\n\n\n\n<p>There, I said it. Kill it.&nbsp;<\/p>\n\n\n\n<p>Over, done, never again.<\/p>\n\n\n\n<p>I\u2019ve never been a big fan of the word &#8220;pitching&#8221;. It implies that something isn\u2019t really true, that some of it is fake or concealed, or made up, some kind of repetitive sales job \u2013 and also that it\u2019s <em>scripted<\/em>. Which implies acting, rehearsed, fake, not real life. I don\u2019t like it.<\/p>\n\n\n\n<p>I know I\u2019m not alone with this view. Most people (and certainly most investors) dislike it too; nobody enjoys being \u201cpitched to\u201d or have to review endless \u201cpitch decks\u201d or suffer boring, scripted investor pitches in &#8220;pitch mode&#8221;. Personally, I think that era deserves being sent off to pasture \u2013 we\u2019ll all be better for it. Long live the more honest and interesting <em>narrative<\/em>, <em>storyline<\/em> and <em>conversations<\/em>.&nbsp;<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">How investors wish to invest<\/h2>\n\n\n\n<p>VCs (and others) invest in people first, especially at early stage \u2013 in truth they have little else to go by. They typically go after the founder with the passion, the smarts and the insatiable determination to solve a specific problem, ideally with an A-star team around them.<\/p>\n\n\n\n<p>Then, beyond the logic, financials and data, investors back people they LIKE (kind of obvious, really, why waste 7-10 years building a business with somebody you dislike?!), and that needs time, trust, and a personal connection.<\/p>\n\n\n\n<p>Finally, <strong>investors look for the new-new thing<\/strong>, the never-thought-of invention, or the maverick go-against-the-grain dissident, the next big thing. Outliers, misfits, creators, creative, geniuses\u2026 you know the tags they love to use. <strong>Different is just not cool, it\u2019s now mandatory<\/strong> \u2013 investors seek outliers, not copycats<em> (well, some do, but that\u2019s another topic altogether!)<\/em>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Pitch templates<\/h2>\n\n\n\n<p>And yet, what do most founders typically do? They go for a template, a \u201cblueprint\u201d, typically the best seller (translate: biggest number of copies in circulation). Where\u2019s the outlier, innovator or rebel in <em>that<\/em>? All that passion, driven stubbornness, that excitement\u2026 they never come out on templated slides (especially with tech founders who, let&#8217;s face it, aren&#8217;t exactly Hollywood actors).<\/p>\n\n\n\n<p><strong>So you lose the excitement, and you lose the person investing. It&#8217;s as simple as that.<\/strong><\/p>\n\n\n\n<p>I could recommend the \u201cby all means you can have a deck, but then build your own story, your own path, your own style, your own differentiator\u201d.<\/p>\n\n\n\n<p>But I won\u2019t \u2013 today I\u2019ll argue for you NOT to build any deck at all.&nbsp;<\/p>\n\n\n\n<p>Yep, you read that right: no slides, no pitch. None. Zilch, nada. Not one. Yes, I mean it. I want you to think about pitching without slides. And the best part is, <strong>it works like magic<\/strong>. It makes you really stand out from the crowd, gives investors ALL of the information they need, with none of the boring parts, and builds something decks can\u2019t get you: <strong>trust<\/strong>.<\/p>\n\n\n\n<p>Wanna know how to achieve that?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Choose pitching without slides and focus on having a meaningful, natural, two-way conversation<\/h3>\n\n\n\n<p>Instead of preparing scripts and PowerPoint slides, prepare for a conversation.<\/p>\n\n\n\n<p>Why?&nbsp;<\/p>\n\n\n\n<p>Because a good conversation is 10x more effective than a scripted pitch. A good, well-planned and structured conversation has many benefits.&nbsp;<\/p>\n\n\n\n<p>For starters, it has its own flow, timing, errands and digressions, never twice the same. It\u2019s also a great way to easily spot what your prospect investor likes or not, believes or not, knows well or not, finds exciting or not. My favourite of all: it gives you the chance to ask your own questions, which you can\u2019t do when pitching. Ask about her, how she sees a point you just made, what she likes about it, what she\u2019s seen elsewhere. It\u2019s the real, instant, natural feedback spoken freely and in real-time, not days after your pitch.<\/p>\n\n\n\n<p>Good conversations carry logic, questions and answers, arguments and counter-arguments, admissions and changes of opinion, none of which you can get in a scripted pitch. And that weird and wonderful sequence is <strong>what builds trust between people<\/strong>.&nbsp;<\/p>\n\n\n\n<p><em>Trust is gold in fundraising.<\/em><\/p>\n\n\n\n<p>Finally and boy oh boy do they loooove data \u2013 they crave it. So be generous with it, they\u2019ll love you for it \u2013 don\u2019t be smug or lecture anybody, just share pertinent bits as you develop a point, use it to support your claims; don\u2019t swamp, just drop some numbers and move on casually to the next point. <a href=\"https:\/\/blog.mazoudier.com\/index.php\/2021\/08\/04\/financial-storyline-telling-the-story-behind-your-numbers-in-a-single-slide\/\">We wrote a whole article on this the other day<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What you must have when pitching without slides?<\/h2>\n\n\n\n<p>It is obvious, but it\u2019s not easy. It requires IQ, EQ, and a ton of effort. Let\u2019s delve in.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Hard facts to support your claims (IQ)<\/h3>\n\n\n\n<p>Like with any good conversation, If you don\u2019t have the hard facts to support your claims your conversation will end rather quickly. <strong>Leave a couple of important questions open<\/strong>, with no satisfactory reply, and investor trust will plummet.&nbsp;<\/p>\n\n\n\n<p>Rule number 1: <strong>know your stuff or don\u2019t do it \u2013 you only get one shot at this.<\/strong><\/p>\n\n\n\n<p><em>(it reminds me of the \u201ccoffee chats, not a pitch\u201d meetings that nearly always end up in disaster, with the founder in tatters and never invited to meet again. As we said before, <\/em><a href=\"https:\/\/blog.mazoudier.com\/index.php\/2021\/06\/15\/not-all-investors-are-equal-this-is-why-and-how-you-must-prioritise-them\/\"><em>there are no coffee chats, folks<\/em><\/a><em>\u2026 <\/em><strong><em>if the investor leaves the meeting thinking \u201cno thanks\u201d or even \u201cmeeeh, not that special\u201d, you\u2019re done<\/em><\/strong><em>.)<\/em><\/p>\n\n\n\n<p>So you\u2019d better <strong>come equipped with those compulsory data points<\/strong> especially when you&#8217;re pitching without slides.<\/p>\n\n\n\n<p>Market size, competitive landscape, all financials. Other important questions you must answer are why now, why you, team CV takeaways and so on and so forth. Naturally, <strong>you obviously MUST know your numbers<\/strong>.<\/p>\n\n\n\n<p>You will be judged based on the &#8220;minimum knowledge\u201d a CEO must possess, so come armed with it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Emotional Quotient (EQ)<\/h3>\n\n\n\n<p>This is one of the reasons why those casual chats usually take place with more seasoned entrepreneurs.&nbsp;<\/p>\n\n\n\n<p>To think about pitching without slides, you\u2019ll need to have a good grasp of people; read the investor\u2019s mind and body language, what intrigues her, what she finds exciting or positive, or unconventional wisdom, and read those <em>\u201coh, never thought of that\u201d<\/em> moments. You need to be good enough with people.&nbsp;<\/p>\n\n\n\n<p>You\u2019ll need to convey points firmly but calmly when challenged, and move the conversation on to the points you want to make, sometimes against the investor\u2019s will. <strong>You\u2019ll have to develop a relationship, showing strengths and certainty but also admit weaknesses and doubt.<\/strong>&nbsp;<\/p>\n\n\n\n<p>It takes years to get to this level of comfort for most founders, and some simply can\u2019t stop faking it <em>\u201ctil you make it\u201d<\/em>.&nbsp;<\/p>\n\n\n\n<p>Remember: you\u2019re not here to lecture or show off, <strong>you\u2019re here to show that you have discovered a great \u201cwhite space\u201d in the market (and\/or have started building it and it\u2019s starting to look good across your KPIs), have a healthy mix of confidence, proof points, data and knowledge, and trustworthiness<\/strong>.<\/p>\n\n\n\n<p>This EQ thing is harder.&nbsp;<\/p>\n\n\n\n<p>But that quietly powerful, confident delivery and trust-building conversations\u2026 it\u2019s worth GOLD.&nbsp;<\/p>\n\n\n\n<p>That\u2019s when the tables turn and you get investors lining up.<\/p>\n\n\n\n<p>Something I learned from experience? Avoid more than one person in the room. There\u2019s always going to be one a&amp;&amp;hole trying to show off IQ or academic skills in front of the boss, taking away the conversation from where you\u2019re trying to lead it \u2013 extremely disruptive and 100% no value-add most times.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Effort and Practice<\/h2>\n\n\n\n<p>Unlike EQ skills, effort and practice are available and mandatory for all. You\u2019re going to need to learn a lot of data \u2013 a lot \u2013, from numbers to markets to people\u2019s names to historical and competitive facts, and be able to make use of them elegantly during a conversation.&nbsp;<br>You will also need to drive the conversation towards your strong points and field questions you haven\u2019t prepared for. All of this while you need to ensure that all usual categories of questions are covered \u2013 even if they are not asked <em>(investors have this mental checklist they go through, so don\u2019t wait to be asked, just tell them)<\/em>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/FredDestin_tweet.png\" alt=\"\" class=\"wp-image-82\" width=\"730\" height=\"279\" srcset=\"https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/FredDestin_tweet.png 1150w, https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/FredDestin_tweet-300x115.png 300w, https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/FredDestin_tweet-700x268.png 700w, https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/FredDestin_tweet-768x294.png 768w, https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/FredDestin_tweet-800x306.png 800w\" sizes=\"auto, (max-width: 730px) 100vw, 730px\" \/><figcaption><em>Our good friend Fred Destin created a mini-tweetstorm with that one \u2013 and he\u2019s one of a rare kind of VCs who doesn\u2019t demand a deck immediately and encourages pitching without slides, so he&#8217;s allowed. But he\u2019s the exception, not representative of the entire class.<\/em><\/figcaption><\/figure>\n\n\n\n<p>If you&#8217;re having trouble putting this together,<a href=\"https:\/\/fundraising-bootcamp.com\/calendar\/\"> join our next Bootcamp<\/a> and get funded efficiently.<\/p>\n\n\n\n<p>That&#8217;s what we do \ud83d\ude09&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This can be highly controversial and many founders simply won\u2019t manage to do it. I do still think preparing to pitch without slides can be an interesting exercise. If you manage, it works like magic, but be aware it\u2019s not for everyone \u2013 and that\u2019s okay. There\u2019s plenty of other strategies you can learn in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":92,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-81","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pitch-perfect"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pitching Without Slides Is a Thing (and you should be doing it)<\/title>\n<meta name=\"description\" content=\"No slides, no pitch deck. Let&#039;s talk about pitching without slides, whether you should risk it and when it makes sense.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.mazoudier.com\/index.php\/2021\/09\/08\/pitching-without-slides-is-a-thing-and-you-should-be-doing-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pitching Without Slides Is a Thing (and you should be doing it) &#8226;\" \/>\n<meta property=\"og:description\" content=\"No slides, no pitch deck. Let&#039;s talk about pitching without slides, whether you should risk it and when it makes sense.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.mazoudier.com\/index.php\/2021\/09\/08\/pitching-without-slides-is-a-thing-and-you-should-be-doing-it\/\" \/>\n<meta property=\"og:site_name\" content=\"Fundraising Bootcamp Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-08T20:09:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-03T14:01:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.mazoudier.com\/wp-content\/uploads\/2021\/09\/20211005_blog-francois-copy.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"984\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Francois Mazoudier\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Pitching Without Slides Is a Thing (and you should be doing it) &#8226;\" \/>\n<meta name=\"twitter:description\" content=\"No slides, no pitch deck. 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