Do you need a pitch deck or a business plan?
That is the million-dollar question, and the answer depends on what stage you are at with
in your business.
Keep watching to find out which you need and when.
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You are at that stage where you are expanding your business and looking for finance or an
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Hi, I’m Antonia from aok.com.au, and I am a pitch deck specialist.
I mentor clients on their businesses strategic message and develop powerful presentations
that grow their businesses.
Whether you’re a first-time business owner, a hopeful start-up or a seasoned entrepreneur
- you may have wondered what the difference is between a pitch deck and a business plan.
Which one comes first?
And why would you use a pitch deck over a business plan?
I’m going to start with a quick explanation of each, and then we’ll dive into them in
more detail.
So, you think you have an excellent idea for a business.
The best way to find out whether you do or don’t is to do your research and write a
business plan.
This quick exercise will allow you to develop an in-depth strategy for your business and
find out if it’s feasible.
If your business idea is feasible and you are looking for equity, you move on to a pitch deck
A pitch deck is a brief presentation that you would use to present to your investor
as a concise overview of your business idea.
You would draw the information from your business plan into your pitch deck.
You would mainly use your pitch deck to gain the initial interest of an investor.
If an investor were impressed, they would ask for your business plan for more detail.
In short, write your business plan first and then develop your pitch deck.
Let’s start by looking at each in more detail and see if you agree with me.
Your first stop is a business plan
A business plan is a formal document that includes your business goals, the methods
on how you will accomplish those goals and the time frame in which you will achieve those goals.
Creating a business plan clarifies your business vision and can also add structure around how
you manage your business.
A business plan will contain in-depth information about your business.
As a business owner, you’ll refer back to your business plan from time-to-time to reference
how you are tracking and to ensure you’re staying focussed.
If you are going to your bank for finance, they’ll require a business plan for loan applications.
As I mentioned earlier, you’ll also need to have your business plan ready if investors
want more detail about your business when you are out there pitching.
A corporate business plan for a large organisation can be hundreds of pages long.
However, for a small business, it’s best to keep your business plan short and cap it
at 30 pages. But do your best to keep your content lean and easy to read.
Referring back to your business plan throughout the life of your business is a great idea.
Making that plan too long may mean it ends up gathering dust in a bottom drawer.
Be realistic with your business plan. It’s supposed to be all about getting to the heart of whether your business
is feasible. So the only person you would be lying to is yourself if you got it wrong.
Ask the hard questions and be 100% certain with your answers.
Can you achieve everything you’ve outlined in the business plan?
No matter the size of your business, a business plan is a great way to ensure you’ve thought
of everything before you spend a dime.
Have you started a business without a business plan?
Let me know yes or no in the comments below.
Now, on the other hand, your pitch deck is a highly visual presentation of your business idea.
If you started with your business plan, you would have all the essential content you need
to populate your pitch deck.
However, many can't find a way to shorten their message to no more than 30 words on a slide.
It's challenging to be concise but crucial that you are in a pitch deck.
If you are having trouble making that transition successfully; get me to do it for you.
Having an objective person outside the business can be a great way to bring perspective to
your business message.
On my website, you'll find four solutions designed to suit most business needs.
Upload it to me, and I'll have you out pitching with a powerful pitch deck in no time.
The link to that web page is in the description below.
Whether you go with a pitch deck or a business plan, it is vital to make sure they look on
brand, professional and visually appealing.
A business plan is generally a Word document, but it's essential that it also 'looks good'.
Don't overlook matching it to your overall brand.
Now it's time to look at WHEN you'll need each of them.
Usually, pitch decks are presented face-to-face to get investors to ask for more information.
I like to think of pitch decks as the child of your business plan.
You'll probably use and send your pitch deck to more people - but it doesn't mean it's
more important than your business plan.
A business plan is an in-depth document and is often very heavily text-based.
You won't need to present or send this to investors as often - they won't have time for that unless they are
serious about you and your business idea. So if they have ask for your business plan, that's a really good indication.
If you haven't already, jump onto your business plan and when you are ready, download my
guide on the key points investors are looking for in your pitch deck.
It has some tips on how to expand on those points and will make developing your pitch
deck a breeze.
You'll find that link in the description.
Is there anything I missed that you would like covered?
Let me know in the comments, and I'll make that the subject of my next video.
Please like my video and give me a thumbs up.
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While you’re down there, subscribe to my channel.
Growing a business and finding finance isn’t easy, but don’t forget, you are following
your dream, so keep on pitching with passion!