Are you a startup founder? If you are, then you understand how crucial a pitch deck is. In this blog post, we will take you on a journey of company called Trym, how they used a pitch deck to secure funding and changed the game in the financial services industry. Let’s dive in.
Who is Trym?
Trym is a micro business insurance startup based in Arizona. The company was founded in 2015 by Kirk Morales, with the vision to provide insurance services to Small and Medium Enterprises (SMEs). It operates in the financial services sector, a multi-billion dollar industry which is innovating and expanding every day.
Trym’s Early Stage Funding
In 2016, a year after the startup’s establishment, Trym successfully raised a seed investment of $125K. And it all began with a compelling pitch deck, a tool that every startup should leverage when seeking investment. A well-structured pitch deck not only outlines the business idea but also provides insights into the startup’s roadmap, business model, team, and unique selling points.
The Importance of a Pitch Deck
A pitch deck can serve as a persuasive visual aid when you’re discussing your business idea and endeavoring to raise funds for your startup. It’s an anchor that keeps your explanation more structured. It illustrates your business model, the problem you’re solving, your team members and what makes your startup stand out from the competition. Indeed, a pitch deck is more than just a presentation; it’s a reflection of your startup’s professionalism, strategic thinking and compatibility with the market.
Creating a Successful Pitch Deck
The following are some elements that a good pitch deck, much like the one used by Trym, should include:
Simple and Clear:
Your pitch deck should be easy to understand, even for someone unfamiliar with your industry. It should not be overloaded with jargon; instead, it should speak the language of your potential investors.
Problem and Solution:
The pitch deck should clearly outline the problem your startup is solving and how its product or service proposes the solution. Trym, for example, noticed that SMEs were struggling to find suitable business insurance providers, and hence, came up with a solution especially designed for micro businesses.
Market Analysis:
Your pitch deck must include a thorough market analysis, demonstrating your understanding of the market, competition, and the segment your startup aims to target.
Investors are always on the search for the next big thing in startups. By looking at Trym, we can see the importance of a well-thought-out and well-executed pitch deck in attracting seed investment. Understanding what to include and how to structure a pitch deck can mean the difference between securing funding or not. As a startup founder, it is important to spend time crafting a pitch deck that accurately represents your business and vision.
So, whether it’s a business idea you’re trying to pitch or an investor you’re trying to impress, remember, a great idea deserves an excellent pitch deck. If Trym did it, so can you!