Written By: Dan Dragicevich
A few weeks ago, I stumbled upon DocSend’s Q4 2023 Seed report. They spilled the tea on which slides make some pitch decks winners and others, well, not so much. They showcased how it’s not just the usual suspects like Traction, Business Model, Problem, and Solution stealing the show (though they still matter, of course). In 2023, founders had a new MVP slide in town…“Why Now?”
Let’s take a look at 3 reasons why this slide has taken over as top dog.
- VCs spent 65% more time checking out the “Why Now?” slide in 2023 compared to 2022. Why the extra attention? With today’s economic challenges, VCs are being extra cautious with their money – no surprise there! They are looking for founders who can create long-lasting businesses.
- Kerosene’s perspective: This slide acts as the mic drop moment. We believe it has the power to leave VCs still thinking about you in their next founder pitch. And that’s because a strong ‘Why Now’ can help tell a compelling story. Investors need to understand what makes your business so relevant to this point in time that they must get involved now.
- Successful pitch decks strategically integrated “Why Now?” as a central element of the pitch. How did they do this? They positioned “Why Now?” near the beginning of the deck, allowing founders to seamlessly weave the timing of their business into the narrative of the problem and, ultimately, the solution. This strategic alignment resonated well with investors as it demonstrated that founders were not only aware of current market conditions but were also prioritizing them effectively by communicating early in the pitch.
- Kerosene Perspective: We spend a lot of time with our founders understanding the problem they’re solving and how the “Why Now?” connects to it. While we encourage founders to position ‘Why Now’ at the end of their deck, we spend quite a bit of time weaving ‘Why Now’ into the entirety of the pitch and drawing back to this. We believe communicating this effectively throughout the pitch is what ultimately makes the biggest difference.
- Successful founders relied on what has always mattered – traction and they used that to their advantage. What does that mean? Well, they proved their “Why Now?” by showing that the dogs are eating the dog food. That people are willing to pay for their product. FYI, even though “Why Now?” became the most important slide in 2023, Traction remained a close second.
- Kerosene Perspective: Although investors are spending more time considering the “Why Now?”, traction remains paramount. Demonstrating your traction and backing up your ‘Why Now’ with data goes a long way.
Being a founder means you’re always adapting to your surroundings and showcasing your business in the best possible way. What has resonated with investors as it relates to your business?
Kerosene Ventures: Connecting Great Founders with Great Investors