Pitch Deck vs Business Plan (WHICH SHOULD YOU USE)

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. How exciting! You are at that stage where you are expanding
your business and looking for finance or an investor. There’s much work to be done to get investor-ready,
and that’s why you need to subscribe to my channel Pitch Decks (WOW INVESTORS). You’ll find a wealth of information focused
on improving your chances of closing a deal with an investor. I’ll be posting new tips and tricks every week for you. Hit the bell, and you’ll be notified when they are posted. 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. Every thumbs up helps. 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!

2 thoughts on “Pitch Deck vs Business Plan (WHICH SHOULD YOU USE)

  • October 14, 2019 at 3:55 am

    Do you find business plans useful?

  • October 14, 2019 at 9:29 am

    Awesome info again! 👍👍


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