Why you should have a problem slide in your pitch deck
Entrepreneurs frequently give reasons for starting their businesses, such as “I wanted to make the world a better place.” However, the response will be “I noticed a problem and solved it” much more frequently. And this is what it’s all about. The essence of entrepreneurship is problem-solving.
In your problem slide, you discuss the problem you’re attempting to solve as well as the reasons why the general public should care. Telling a brief story about a real person who encountered the issue and why they need a solution is a typical way to explain the issue you ran into. If you had the problem yourself, tell the story from your perspective.
Gaining your audience’s empathy for the issue is key. When you notice the investors nodding their heads in agreement, you know it was successful. It’s crucial to engage the investors’ emotions with your story. They are more likely to connect with you and your idea if you can create an emotional bond.
You should always keep in mind that investors are not your enemies at this point in your pitch. They want to collaborate with you to find a solution and invest in concepts that address actual issues. Therefore, get them into your boat so you can greatly benefit from it for the remainder of the pitch.
Present the opportunity slide rather than the problem slide if you are making changes to an existing solution to an old problem rather than creating a new one.
How you can build a killer problem slide
The slide's content
- A concise description of the issue you're trying to solve
- Any figures that demonstrate the problem's applicability
Questions your slide answers
- What's the issue?
- How important is the issue?
- What has been done to address the issue so far?
- What causes the issue to exist?
Common Slide Mistakes
- Describing the problem in a way that no one gets it (KISS = Keep it simple stupid)
- Addressing a problem that is not relevant
- Describing a problem with several solutions on the market
- Use a clear and quickly readable font style
- Make sure to use high-resolution graphics
- Keep the design simple