Are you building a pitch deck for your startup? Make sure to include in your pitch deck a clear and memorable Problem slide.
In this series of articles we show you how to create a stunning pitch deck for your startup.
The Problem slide explained
The Problem slide is the 2nd slide of your pitch deck: this is the “why” of your business.
Why have you built this product and your company? What problem are you aiming to tackle here?
Ideally you would list the 2/3 friction points you aim to fix. For instance, for most tech businesses, digitalisation usually fixes multiple problems at once: it is fast, seamless and accessible (vs. slow, prone to errors and non-readily available / accessible solutions).
The most efficient problem slide explains a common problem everyone understands.
Naturally, your startup will be all the more relevant if you are trying to address a problem affecting the masses, including the investors themselves.
Yet, your startup isn’t necessarily addressing an issue everyone knows, or understand. For example, if you are a SaaS business offering a software for human resources teams that make it easier for them to do things such as recruitment or managing payroll, people who aren’t working in a HR department might not be concerned at all.
That’s why you need to make the problem crystal clear, so everyone can relate to it. Remember: the greatest businesses are solving big problems, yet they aren’t necessarily obvious.
Using our HR example above, explain in clear terms what is the problem at play here: are HR team wasting time on paper-based solutions and losing track of applicants in a flurry of emails exchanges? Use numbers whenever relevant: recruitment managers are losing X hours per day syncing all the different recruitment platforms they use for example.
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