What’s More Important - the Pitch Deck or the Business Plan?

 

When appealing to an investor, your two most useful tools are the Pitch Deck and the business plan. Each serve their own unique purpose and have a very valuable role in presenting and “selling” your business. However, there is some debate over which is more useful or important. Is one truly more powerful than the other?

The Pitch Deck: First Impressions Matter

First Impressions Matter

It has long been repeated that first impressions are lasting impressions. In many instances, the pitch deck is the very first introduction to your business that a potential investor will have. With the sheer number of pitch decks and proposals that come across an investor’s desk, this first impression is absolutely vital. You get one chance, sometimes only a few pages, to make an impression and convey your business concept.

Getting Your Foot in the Door

Another argument towards the prominence of the pitch deck is that it gets your foot in the door. An investor will never look at your business plan without first being compelled by the pitch deck. Without a strong pitch deck, your business plan could be completely irrelevant. In other words, without your pitch deck to open the door, your Business Plan doesn’t really matter, therefor the pitch deck is more important.

The Business Plan: Closing the Deal

The Main Attraction

Those that argue that the business plan is more important point to the fact that no one goes to the movies just for the previews. Sure, the previews get you excited but, you buy a ticket to see the main attraction. In this metaphor, buying a ticket to the movie is the equivalent of an investor taking a full meeting. Investors invest based on the full business plan, not the pitch deck, and without an investment it’s all for naught.

Closing the Deal

The entire purpose of a pitch deck and a business plan is to “close a deal” by securing an investment. The business plan does that, not the Pitch Deck. In sales, it’s one thing to have a lead, it’s another thing entirely to actually make the sale. In this perspective, it points to the business plan as the actual substance of the sales process that allows you to finish what you set out to do. Without it, it’s impossible to advance your business by securing funding.

Combined, They Make a Strong Business Case

So, which one is more important? That’s ultimately up to you to decide. Whether or not one is more important than the other, the one certainty is that they both matter. In the end, you won’t be able to secure an investor if both aren’t strong. Investors see dozens if not hundreds of pitch decks and business plans every day. They expect a certain level of quality, a certain level of professionalism.

If you are planning on pursuing an investment for your business make sure both documents are in order and of the highest quality. You may even want to consider hiring a Professional Business Plan Writer, specifically with experience preparing documents for investors. This can help ensure your pitch deck makes a strong first impression and the business plan drives your concept home.