difference between deck and business plan

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Home / Blog / Pitch Deck vs. Business Plan: What is the Difference?

Pitch Deck vs. Business Plan: What is the Difference?

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Deciding between a pitch deck and a business plan for your next fundraiser? In reality, both documents play an important part in your fight for the next round. 

• Research shows that a clear, concise pitch deck can increase the chances of securing an initial meeting with investors by up to 72% .
• A business plan reduces internal confusion by 25% by clearly outlining the goals, strategies, and financial projections, leading to a 30% increase in team collaboration .

Both documents require heavy research and are designed to convince investors to back your venture. However, they accomplish it in different ways.

Having raised over $505M in 2023 for startups with our pitch decks and business plans , we’ll walk you through a detailed Pitch deck vs. Business plan comparison and their role in the fundraising game.

What is the pitch deck?

A pitch deck is a 10-20-slide presentation showcasing the potential of your business idea and startup to investors. Briefly and compellingly, it introduces your company, product, market, business model and overall strategy. 

An effective must showcase your market research, traction to date, and a roadmap to where you want to get. No one-sized pitch deck exists, so you can even pitch someone in the elevator .

Think of it as an introductory sales document designed to pique investor interest and encourage further dialogue.

Components of a pitch deck:

• Introduction: Brief overview of your company and its purpose.
• Problem Statement: Clearly define the problem your product or service solves.
• Solution: Describe your product or service and how it addresses the problem.
• Market Opportunity: Showcase the potential market size and target audience.
• Business Model: Explain how your company plans to generate revenue.
• Traction: Highlight any milestones, achievements, or user statistics.
• Market Strategies: Outline your marketing and sales approaches.
• Competitive Analysis: Identify and analyze your competitors.
• Team: Introduce key team members and their roles.
• Financial Projections: Present forecasts for revenue, expenses, and profitability.
• Ask/Investment: Clearly state what you’re seeking from potential investors.

What is a business plan?

A business plan is a 30-100-page document showcasing an in-depth analysis of your business idea to potential investors to convince them to invest. It elaborates on things like:

• Your sales, marketing, and operational plans for growth
• Where your company will be in the next 1,3 or 5 years
• A step-by-step plan of how you’ll get there.

The business plan is the first part of the investor’s due diligence process before finalizing the deal. It lays out more detailed research on your industry and competitors, contains many charts, graphs, and pictures, and is very text-heavy. 

Think of it as a comprehensive blueprint of your venture designed to persuade interested investors to pull the trigger and invest.

Components of a business plan:

• Executive Summary: A brief business overview, goals, and plans.
• Company Description: Details about your business, mission, vision, and structure.
• Market Analysis: Research your industry, market, and competitors.
• Organization and Management: Information about your team, structure, and key personnel.
• Product or Service Line: Description of your offer and its benefits.
• Marketing and Sales: Your strategies for promoting and selling your product or service.
• Funding Request: If you seek funding, outline your financial needs.
• Financial Projections: Projected financial statements, like income statements and balance sheets.
• Appendix: Additional supporting documents, charts, graphs, etc.

What are the differences between a pitch deck and a business plan?

While the business plan and pitch deck give a view of your venture, they serve different goals, reach different audiences, and build the story differently. These distinctions manifest in the length, format, target audiences, and funding stages. 

Length and Format

• Pitch Deck:

Brief and eye-catching 10-20 slides with engaging visuals, like images, charts, and minimal text. Generally highlights critical points, like product or service, target market, business model, and future potential.

• Business Plan:  

Detailed 30-100 page text-heavy document armed with visuals like charts and graphs. It typically emphasizes projected revenue, expenses, and profitability through financial statements and forecasts. The document details strategies for sales, marketing, operations, and human resources, along with a description of team members’ expertise, experience, contributions to the company’s success, etc.

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Targeted Audience

• Pitch Deck: Investors (initial stages)
• Business Plan: Investors (due diligence), internal team

Stages and Objectives

• Pitch Deck: 1. Shines in early stages: Pre-seed, seed, Series A. 2. Captivates investors: Concisely delivers the problem, solution, market, and team.
• Business Plan: 1. Dominates later stages: Series B and beyond. 2. Secures substantial funding: Demonstrates viability and potential return on investment (ROI).

Frequency of use

• Pitch Deck: 1. High Frequency: Used frequently and repeatedly throughout the fundraising process. You might prepare several variations tailored to different investors or stages of funding. Examples: Initial investor meetings, pitch competitions, and conferences seeking investment opportunities.
• Business Plan: 1. Lower Frequency: Typically used once during the later fundraising stages, specifically during due diligence. 2. Focus: Providing detailed information for investors to thoroughly assess your business’s viability.

Pros and cons: Pitch Deck vs. Business Plan

Advantages:

• Comprehensive: This thoroughness is crucial for investors, lenders, and internal stakeholders.
• Strategically complete: Aids decision-making, resource allocation, and risk management.
• Supportive fundraising: Studies suggest that companies with a well-crafted business plan are 18% more likely to secure funding than those without one.

Disadvantages:

• Time-consuming: Requires potential expertise in areas like financial modelling and market research.
• Outdated quickly: Market dynamics and business strategies can evolve rapidly, necessitating regular updates to the plan to maintain its accuracy and relevance.
• It may not be read: Lack of time and poorly structured info can push away the potential investor.
• Concise and engaging: Studies reveal that audiences lose focus after 10-20 minutes of presentations. Pitch delivers a clear and quick message.
• Easy to adapt and share: Adapting the pitch deck for various audiences and situations is simpler due to its brevity.
• This can lead to meetings: Engaging presentations foster positive connections with potential partners and lay the groundwork for long-lasting collaborations.
• Sometimes limited information: By definition, it does not provide the in-depth financial analysis, operational details, and market research needed for comprehensive due diligence.
• Less suitable for later stages: As funding requirements and investor expectations increase, a pitch deck alone may not be sufficient for securing more significant investments.

Which is more important, the pitch deck or the business plan?

There is no one-size answer; in most cases, you need both. The importance of each depends on your industry and fundraising stage. The pitch deck is crucial early on , but investors scrutinise the business plan for details as you progress . 

The pitch deck is vital for visibility. Without it, you may miss opportunities with investors and hinder connections with mentors and partners essential for your startup’s success.

On the other hand, the business plan is crucial to validate everything you’ve outlined in your pitch deck. Investors can quickly spot unprepared founders or unrealistic propositions. While a compelling pitch may secure a meeting, a thorough plan will convince investors to back your venture.

Important: A well-crafted pitch deck often stems from a strong business plan.

When to use a business plan and not a pitch deck

• If you seek debt financing: Banks rely on business plans, emphasizing their importance for loan applications.
• If you fundraise above $500k: Careful planning is crucial for substantial fundraising. Investors will scrutinize your venture, so be thoroughly prepared.
• If you have cooperative ownership planning: A written plan is essential for co-owners to navigate challenges together, staying true to the initial vision while embracing necessary changes.

When to use a pitch deck and not a business plan

• When attracting equity investment: A concise pitch deck is essential to secure funds from venture capitalists, angel investors, or knowledgeable friends and family.
• When looking for networking with potential investors: Crafting a positive initial impression is paramount.
• For pitching opportunities for founders: Explore pitch competitions in the startup community, seizing opportunities for exposure and honing your pitching abilities with a solid pitch deck.
• When seeking co-founders: If you’re looking for cofounders, there is no better way to convey your concept and the value you can bring to the table than through a pitch deck.
• When applying to accelerator programs: A well-crafted pitch deck is typically required. It is a critical asset in the assessment process for entry into the accelerator’s next cohort.

You need both 

Need to grab attention and lock connections? Use a pitch deck. Need to showcase in-depth details and long-term potential? Use a business plan. Both tools are paramount in navigating your fundraising journey effectively.

Want to know how to craft pitch decks that secure investor interest? Check our pitch deck hub to learn all about it straight from the trenches.

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Hey there! I'm Anastasiia, a Content Writer at Waveup. With my marketing expertise and storytelling magic, I turn complex data and industry insights into your startup playbook, making the business world a breeze for you! At Waveup, I work with brilliant folks who make insights a never-ending flow. So, join, read, and enjoy!

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Pitch deck vs business plan: differences and which to use

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Have you ever spent time deciding between creating a pitch deck vs business plan? For startups and new business owners, where every minute counts, it’s crucial to concentrate on activities that deliver the most significant impact.

This blog article demystifies the pitch deck vs business plan, whether you aim to attract investors, secure a loan, or win over partners and clients. We’ll start with pitch decks, followed by business plans, with the goal of helping you choose wisely – so you can spend less time on paperwork and more time building your business.

1. What is a pitch deck?

A pitch deck is a slideshow that concisely conveys your business idea, market opportunity, and value proposition in a presentation format. Also known as a business or investor deck, they are used to quickly present business ideas, products, or services in 10 to 20 slides.

Purpose of a pitch deck

The purpose of a pitch deck is similar to that of an elevator pitch: tell a compelling story to grab the attention of potential investors, partners, or clients.

The goal isn’t to seal a deal on the spot but to spark sufficient interest to secure follow-up meetings and negotiate potential funding.

How long should a pitch deck be?

Your pitch deck should pack a punch, not bore your investors. Aim for 10-20 impactful slides . For complex ideas or specific industries, slightly more might be okay.

The 10/20/30 rule is your friend: make a 10-slide deck that grabs attention. Investors see hundreds of pitch decks a year. Choose quality over quantity – make each slide count!

💡 Related article: How many slides do you need for a 10-minute presentation?

What should be in a pitch deck

Most successful pitch decks follow a similar flow to keep investors hooked. The tried-and-tested 10-slide pitch deck format is a great starting point but be prepared to adjust or add slides for emphasis.

These are the 10 core slides for a pitch deck based on Guy Kawasaki’s 10/20/30 rule:

• Problem slide
• Solution slide
• Market size and opportunity
• Product/service
• Business model
• Competition
• Financials and key metrics
• Ask (funding needs)

Here are additional slides you may include based on specific business and investor preferences:

• Introduction
• Go-to-market (GTM) slide
• Sales and marketing strategy
• Use of funds
• Exit strategy

💡 Learn more about the 10/20/30 rule: How to create a pitch deck (and the 10 slides you need)

Pitch deck examples

Curious how some tech unicorns have pitched their ideas in the early stages? Here are two examples that have proven successful.

✅ Snapchat pitch deck (2013, Pre-seed)

✅ Tinder pitch deck (2016, Seed)

Examples from Best Pitch Decks

2. What is a business plan?

A business plan is a written document with detailed information that acts as a roadmap for your business. A traditional business plan is a formal document that outlines all aspects of your business, including its goals, strategies, market analysis, operational structure, and financial forecasts for the next 3 to 5 years. Most business plans are created in a Word document or report format, ranging from 10 to hundreds of pages long. 

There are other types of less formal business plans used by startups or for internal alignment:

• Lean startup plan/Lean canvas: Summarizes the value proposition and business model into a single page, with a focus on the problem-solution fit.
• One-page business plan: Fits the essential information of a business into one page. Great for quickly testing an idea’s viability or getting immediate feedback.
• Internal business plan: Less formal, designed for use within an organization — for example, a feasibility business plan, operations plan, strategic, or expansion plan.

Purpose of a business plan

Business plans aren’t just for paperwork – they drive action and results. Think of your business plan as a multi-purpose tool that serves several vital functions:

• Attract investors
• Fundraising or securing loans
• Map your strategy
• Provide a strategic roadmap
• Track business progress or provide a performance benchmark
• Win over partners, talents, and potential hires

Components of a business plan

Business plans don’t have a right or wrong format; only different situations call for other formats. You can mix different plan types to prioritize components that directly support your objectives.

What to include in a traditional business plan:

• Executive summary: A concise overview of your entire business plan, highlighting the most critical points.
• Company description: What your business does, the problem it solves, your target market, and competitive advantages.
• Market analysis: Research data like market size, trends, competitors, and customer demographics.
• Organization and management: The business structure, roles, and experience of key team members.
• Products or services: Details on your offer, including features, benefits, pricing, and any intellectual property considerations.
• Sales and marketing strategy: How you plan to reach your target customers (market) and tactics to promote and drive sales.
• Financial projections: Forecasts of your income, expenses, cash flow, and profitability for the next 1 to 5 years.
• Funding request: If you are fundraising, state the amount, how it will be used, and the terms you offer investors.
• Appendix: Include any supplemental information and documents.

💡 Pro tip: Customize your plan! Add, remove, or rearrange sections to achieve your goals.

How long should a business plan be?

Think about your reader and your goal.  Need a detailed plan for a bank loan? That might be 15-25 pages. Want a quick internal roadmap? A one-page Lean Canvas could work. Consider your industry, who’s reading it, and what you need the plan to do.

💡 Pro tip: Choose quality over quantity. Focus on clarity, regardless of length.

How long does it take to write a business plan?

It can take anything from 20 minutes to 20 weeks. The whole process of creating a business plan can be time-consuming (if opting for a long format), and it can also be quick (for example, the Lean Canvas).

The general advice is: Don’t overthink your first business plan. Start simple, move fast, and build as you grow. Business plans aren’t static, so be prepared to refine and expand your plan as the business evolves.

💡 Pro tip: It’s not uncommon to uncover some challenging sections while writing the plan – the key is to show awareness of these issues and ways to overcome them.

Business plan templates

Not sure where to start? Use these example plans and templates from these reputable sources to get you started: 

• SBA.gov: Write your business plan –  Has the traditional business plan and lean startup business plan templates
• SCORE.org – Has business plan templates for a startup , an established business , and the Business Model Canvas
• Bplans has over 550 business plan examples across multiple industries, which you can use for inspiration.

3. Pitch deck vs business plan: the differences

Now that you understand pitch decks and business plans, let’s dive into their key differences.

• Pitch decks are short and punchy, designed to grab investors’ attention and get you that crucial meeting.
• Business plans are thorough and detailed documents, perfect for in-depth analysis or large funding requests.

💡 Think of it this way: Pitch decks are the attention-grabbing movie trailers that sell the whole project. Business plans are your complete blueprint.

Both documents can serve you, but understanding their differences helps you select the best tool for attracting investment or charting your company’s path.

4. Do you need a pitch deck or a business plan?

In the past, business plans were the standard document to present a business idea to investors. However, simple business plans and pitch decks are increasingly popular, especially in startups.

Here’s how to choose the right tool for the job:

🎯 Pitches and investor meetings

Pitch decks provide a snapshot of your business or idea’s potential to spark interest and secure future investor meetings.

🎯 Early stages or for idea validation

Use a simple business plan or Lean Canvas, as the format forces you to focus on the core problem you’re solving and the solution.

🎯 Internal roadmap and planning

Formal business plans will aid in longer-term strategic planning, or they can be shorter since they are for internal use.

🎯 Complex business model

Create a thorough business plan with intricate details; short plans and pitch decks wouldn’t cut it for specific industries or complicated business models.

🎯 Fundraising, loans, or traditional financing

Banks, investors, and government-funded grant applications often require a detailed business plan. Whether you seek debt or equity funding, angel investors, VCs, and banks need compelling reasons to support your venture.

💡 Pro tip: You’ll still need a traditional business plan for detailed strategy or significant funding!

5. Conclusion

Pitch decks and business plans aren’t simply documents – they’re essential tools for driving your business forward. Now that you know the difference, consider your current needs. Ready to capture investor attention? Start crafting a compelling pitch deck. Need a detailed roadmap? Begin writing a winning business plan. Use the resources in this guide to get started and put your business on the right track toward success!

When should you write a business plan?

According to research by Harvard Business Review , between six and 12 months after deciding to start a business. For various reasons, crafting a comprehensive business plan either earlier or later doesn’t necessarily impact business success:

• Most startups pivot from their original ideas and plans.
• The time needed to create a thorough plan is better spent on other business activities (at least initially).
• Creating an elaborate plan may distract entrepreneurs from seeing opportunities in real time and responding to real customers’ needs.

Planning is valuable, and entrepreneurs who plan are more likely to start a successful business. However, you don’t need a complex business plan to begin working on your business. It’s okay to create a plan early on but remember; it’s more about being strategic with your time than trying to forecast the future from the start.

What’s the difference between a business plan and a canvas?

They differ in complexity and length. Business plans are longer and more detailed and are typically used to secure funding from investors or financial institutes.

A canvas, Lean Canvas , or business plan canvas, is a 1-page business plan. The Lean Canvas template helps you deconstruct your idea and focus on finding customer problems worth solving without a significant time investment. 

It is popular as a direct replacement for traditional business plans within startups. The canvas can be used for quick and efficient brainstorming of multiple business models in a few hours or less.

How do I turn a business plan into a pitch deck?

Once you’ve done the groundwork of creating a business plan, you can reuse some of the insights, data, and information for a pitch deck. 

• First, extract the core details from the business plan, such as the problem you solve, the solution, the size of the market, team strengths, and financials.
• Translate that information into your chosen pitch deck template (for example, the 10-slide pitch deck ) or use an AI presentation generator tool such as SlidesAI to structure your slides. 
• Add and emphasize visuals. Replace some text with charts, diagrams, and graphs whenever applicable.
• Edit and keep the pitch deck focused and clear. Quality over quantity!
• Get feedback, practice your pitch, and then iterate on the deck until you are ready to show it to investors.

💡 Related article: 5 best free AI pitch deck generators 2024

Is a pitch deck only for investors?

No, while the primary purpose of a pitch deck is to attract funding, it can be adapted for various audiences and goals, such as partnerships, customers (especially enterprise customers), grant applications, startup or pitch competitions, or even for internal alignment within your team.

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Pitch Deck vs Business Plan — Which One Do You Need?

Uncover the differences between a pitch deck and a business plan and discover which is essential for your startup. Learn and create with PitchBob.

In this dynamic world, where ideas can spark revolutions and dreams become realities, two essential companions await your journey: the pitch deck and the business plan. These tools aren’t just documents but the wind beneath your entrepreneurial wings. Let’s set sail into the world of pitch decks and business plans, unraveling their magic and discovering when to wield their power.

Imagine standing at the helm of a ship, gazing at the uncharted waters ahead. Your startup is that ship, and at your disposal, you have instruments that can guide it through the unpredictable currents of the market. These instruments are the pitch deck and the business plan — crafted to impress and chart your course with purpose and strategy.

What is a Pitch Deck?

A pitch deck isn’t just a collection of slides; it’s the vibrant tapestry that weaves your startup’s narrative. Visuals, text, and passion converge to create a captivating story. Think of it as your startup’s cinematic trailer, offering a sneak peek into the adventure you’re embarking upon. It’s not just about presenting facts; it’s about evoking emotions and igniting curiosity.

When you’re at a startup event surrounded by potential investors and decision-makers, it is your chance to condense your startup’s essence into a visually striking, emotionally resonant package. The pitch deck shines brightest in scenarios where time is short, attention spans are fleeting, and impact is paramount.

What is a Business Plan?

Now, let’s steer our ship toward a different horizon. Imagine a comprehensive map that not only outlines your journey but also details every landmark, every challenge, and every resource needed. This map is your business plan — a strategic document that transcends mere ideas and dives deep into strategy, operations, and financial projections. It’s the blueprint that guides your ship through uncharted waters.

Where your startup has gained some traction, you’re no longer just presenting an idea. You’re showcasing a vision backed by research and planning. This is where the business plan takes center stage. The business plan becomes your guiding star when seeking substantial investments, forging partnerships, or outlining your startup’s long-term trajectory. The document demonstrates your commitment, knowledge, and foresight to potential investors and stakeholders.

Main Differences Between Business Plan and Pitch Deck

Let’s pull out our magnifying glass and explore the nuances that set these two powerhouses apart:

1. Purpose and Usage:

• Pitch Deck: The pitch deck is akin to your startup’s captivating movie trailer — a visual and concise introduction that sparks curiosity, leaving the audience eager to learn more about your venture. It’s your chance to pique interest and create a memorable initial impression that lingers.
• Business Plan: In contrast, the business plan is your startup’s comprehensive screenplay. It delves deep into the plot, character development (or market analysis), and intricate details of your venture’s journey. This document captures attention and provides a comprehensive roadmap for potential investors, partners, and your internal team.
• Pitch Deck: Like a thrilling teaser, the pitch deck is succinct, comprising a carefully curated collection of 10-15 impactful slides. Each slide is a trailer frame, revealing essential plot points of your startup’s story.
• Business Plan: In-depth, the business plan reigns supreme. It stretches across 20 to 50 pages, meticulously laying out every scene of your startup narrative. Your comprehensive manuscript covers everything from your startup’s origin story to its grand finale — the financial projections.

3. Audience Focus:

• Pitch Deck: The pitch deck is tailored to a bustling audience, including potential investors and partners. They have limited time, seeking a snapshot of your startup’s possible and unique selling points. The deck’s visuals and succinct content aim to capture their attention swiftly.
• Business Plan: Here’s where you zoom in. The business plan caters to investors, potential partners, and your internal team. It invites them to explore the finer nuances of your startup universe — the market analysis, the competitive landscape, and the intricate strategies that will propel your venture forward.

4. Creation Process:

• Pitch Deck: Crafting a pitch deck is a delicate dance of creativity and strategy. It’s about weaving compelling visuals, impactful messaging, and the right balance of information. Each slide should be visually appealing, grabbing attention and guiding the audience through the story.
• Business Plan: Assembling a business plan is akin to preparing an epic saga. It requires meticulous research, strategic planning, and attention to detail. Your business plan showcases your commitment to realizing your startup’s potential, demanding a systematic approach to ensure each detail is accurate and well-structured.

Pitch Deck vs. Business Plan — At What Stage Will You Need Them?

As you journey through the startup landscape, timing is everything. Knowing when to whip up your pitch deck and business plan is essential for a delectable startup recipe, just as a chef adds ingredients at precisely the right moments. Let’s break it down, shall we?

When Do You Need a Pitch Deck?

Imagine you’re at the starting line of a grand marathon. The gunshot goes off, and you sprint to capture attention, make connections, and spark interest in your startup. This is where the pitch deck becomes your secret weapon. In the early stages of your venture, when your idea is ripe with excitement and potential, your pitch deck steps into the limelight. Think of it as your startup’s dazzling overture — a concise yet impactful introduction that beckons investors, partners, and decision-makers to notice.

You’ll want your pitch deck ready when you’re:

• Introducing your startup idea at networking events, pitch competitions, or investor meet-ups.
• Seeking initial funding to transform your idea into a reality.
• Elevating your startup’s visibility and attracting potential collaborators.

When Do You Need a Business Plan?

Now, picture your startup as a mighty oak tree. It began as a tiny seed, and now it’s growing tall and strong, casting its shadow across the industry. But as it grows, it requires a well-thought-out plan to sustain and nurture its growth. Enter the business plan. When your startup has evolved beyond the ideation phase and is gearing up for significant growth, that’s the cue for your business plan to take center stage. It’s not just about capturing interest; it’s about showcasing your startup’s depth, potential, and strategic prowess.

It’s time to unleash your business plan when you’re:

• Seeking substantial funding from investors who want a comprehensive view of your venture’s future.
• Navigating partnerships and collaborations that require a detailed roadmap.
• Planning the subsequent phases of your startup’s growth and expansion.

How Can PitchBob Help to Create Pitch Deck and Business Plan?

Hold on to your compass because we’re introducing you to a game-changer — PitchBob! Imagine a platform where creating pitch decks and business plans is efficient and creative. PitchBob empowers you with customizable templates, user-friendly tools, and the freedom to infuse your unique voice into your documents. Whether you’re aiming for elegance or innovation, PitchBob has you covered.

In a world where startups rise like constellations, your pitch deck and business plan are the guiding stars that illuminate your path. They’re not just documents^; they’re your dynamic ensemble, your tag team. The pitch deck takes the stage, captivating hearts, and minds, while the business plan works backstage, ensuring your startup’s strategy is solid and future-proof.

As you navigate the waves of uncertainty and opportunity, remember that you’re armed with these potent tools. Whether stepping onto a stage bathed in the spotlight or sitting across the table from investors in a boardroom, your startup’s journey is powered by the fusion of innovation, strategy, and vision. May your pitch be as compelling as your plan is meticulous, and may your startup voyage be filled with discovery, triumphs, and the realization of your dreams.

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Learn the differences between a business plan and a pitch deck and when to use each one. Discover the pros and cons of both and how to create a winning pitch deck or compelling business plan.

November 20, 2023

Pitch deck vs. business plan: which one do you need for your business, and when? As a businessman or entrepreneur, do you sometimes wonder why your potential investors aren't responding after you've sent them a long and detailed business plan or a catchy pitch deck? This could be due to the minimal information provided in the pitch deck or the lengthy, boring, and irrelevant details in the business plan that repelled them from reaching back to you. However, you should also know how to send pitch decks to investors. Therefore, it's crucial for an entrepreneur to understand which approach is best for their venture. Before seeking out investors, one should be very well aware of the difference between a pitch deck and a business plan. Luckily, we have all the information you need. Check out our resource on how to send a pitch deck to investors.

Pitch Deck vs Business Plan

What are pitch decks and business plans, and how do you write them? Let’s find out.

A business plan identifies, describes, and analyzes a business opportunity and/or an existing business. It focuses on the technical, financial, and economic viability of the idea, and explains in detail the plans your company has for the next 1, 3, and 5 years. This document is used as a reference point by potential investors when deciding whether or not to invest in your company. Furthermore, it's frequently used in a due diligence step in the funding process. A pitch deck, on the other hand, is a much more summarized version of a business plan that aims to excite investors about a company, to set up a second meeting and the possibility of an investment discussion. It is a pitch presentation used by business owners or entrepreneurs to give potential investors, like venture capitalists or angel investors, a concise but informative overview of their startup or company. Investors can use it to see where your business stands and where it is going, and decide whether they want to support it in getting there. It is purposefully sent to potential investors in order to set up a face-to-face meeting or used as a visual aid during a live presentation to potential investors.

Included Information

A business plan contains the research you have conducted on your industry and competitors as well as your company's operational, marketing, and sales strategies. It also includes financial analysis, growth, success projections, and a road map of where your business will be in the future and how it will get there. These nine sections are combined in a traditional business plan design in one way or another:

• Executive summary
• Business description
• Market research
• Operational plan and management
• Service or line of goods
• Sales and marketing
• Money request
• Financial estimates

If you want a professional business plan, it is highly recommended to use a business plan consultant. On the other hand, a pitch deck usually covers the following sections:

• Introduction
• Target market
• Marketing and sales strategy
• Pitch Deck Competition Slide
• Funding request
• Financial Strength

You can find all the details in our Pitch Deck Outline article. Another element of information that should be included in a pitch deck is how much money the company intends to raise, for what amount of equity, and how the money will be spent. Therefore, it must contain expected financials and a pre-money company valuation. You can also include a timeline of significant events in the company's history, which will help convince investors to approve the funding.

The business plan is a lengthy, in-depth document that typically has 10–100 pages and is created in Word. It is primarily text-based. On the other hand, the pitch deck's length ranges between 10 and 20 pages and is produced using PowerPoint with the intention of using visual aids such as pictures, graphs, tables to convey as much of the critical information as quickly as possible.

Situations Where a Business Plan Is Needed

• Obtaining Debt Financing from Conventional Banks: If you want to obtain any type of loan from a bank, you will need to submit a business plan, as they still review them.
• Company Having Multiple Co-Founders and Co-Owners: A business plan is quite helpful in managing a bigger board of seniors in the company. It ensures that everyone sticks to the company's core values and carries out the intended plans to achieve long-term goals. This should be a dynamic document that is continually updated as circumstances warrant.
• Fundraising over $500K: If you are raising a large amount of cash, you better have a strategy in place for how you are going to use it. Be ready for due diligence from investors.

For an in-depth guide on startup business models , click here.

Situations Where a Pitch Deck is Needed

• Meeting or Starting a Conversation with an Investor: A pitch deck is a conversation starter that encourages investors to get in touch with you. You can email a PDF file or send a printed copy to start building a relationship with investors.
• Pitching in a Competition: The startup community organizes many pitch competitions and events that provide business founders the opportunity to practice pitching their business and gain exposure. In these competitions, a pitch deck is a must-have document that effectively communicates the startup plan.
• Seeking Equity Funding: If you are seeking funding from venture capitalists, angel investors, or knowledgeable friends and family, you need a clear pitch deck.

What to Write First - Business Plan vs Pitch Deck?

At the initial phase of a business, a fundamental document called a business plan is written. This plan is updated as the business develops and as needs and goals change over time. The lengthy document can serve a variety of purposes, including internal use within the company or in banks that still require business plans for loan applications today. Additionally, the business plan document can be very useful in creating a compelling pitch deck. In the eyes of professionals, the pitch deck is considered a child of the business plan. Having a prepared business plan makes it much easier to get depth and length in your plans, which eventually results in more clarity and strong points that you could include in a pitch deck. Research is already completed when writing a business plan, which allows the pitch deck to focus on composing the already-existing information in such a manner that encourages the investor to approve the funding you need.

The Pros and Cons of a Business Plan vs. a Pitch Deck

Both business plans and pitch decks have their advantages and disadvantages. Let's take a closer look at the pros and cons of each.

Business Plan Pros

• Comprehensive: A business plan is a comprehensive document that covers all aspects of your business, from your market research to your financial projections. It may be helpful to seek assistance from a financial modelling agency when creating your financial projections.. It provides potential investors with a detailed understanding of your business and its potential for success.
• Strategic: A business plan helps you to think strategically about your business. By analyzing your industry, your competitors, and your own strengths and weaknesses, you can create a plan that maximizes your chances of success.
• Useful for fundraising: A well-written business plan can be an effective tool for raising funds from investors. It provides potential investors with the information they need to make an informed decision about whether to invest in your business.

Business Plan Cons

• Time-consuming: Writing a comprehensive business plan can be a time-consuming process. It requires a significant amount of research, analysis, and writing.
• Outdated quickly: Business plans can quickly become outdated as your business evolves and circumstances change. This means that you may need to update your business plan regularly to ensure that it remains relevant.
• May not be read: Some investors may not have the time or patience to read a lengthy business plan. This means that your hard work may go to waste if your plan is not read by the right people.

Pitch Deck Pros

• Concise: A pitch deck is a concise document that provides potential investors with a quick overview of your business. It is designed to be easy to read and understand, which makes it more likely that it will be read by potential investors.
• Engaging: A well-designed pitch deck can be an engaging and memorable way to present your business to potential investors. It can help you to stand out from the competition and make a strong impression.
• Can lead to meetings: A pitch deck is often used to secure meetings with potential investors. If your pitch deck is well-received, it can lead to a face-to-face meeting where you can provide more detailed information about your business.

Pitch Deck Cons

• Limited information: A pitch deck provides only a limited amount of information about your business. This means that potential investors may not have a complete understanding of your business and its potential.
• Not suitable for all businesses: A pitch deck is not suitable for all businesses. If your business is complex or requires a significant amount of explanation, a pitch deck may not be sufficient.
• Not as useful for fundraising: While a pitch deck can be used to secure meetings with potential investors, it may not be as effective as a business plan for actually raising funds.

Ultimately, the decision to use a business plan or a pitch deck will depend on the specific needs of your business and the goals you hope to achieve. It's important to understand the pros and cons of each and use them appropriately to effectively communicate your ideas to potential investors.

How to Create a Winning Pitch Deck

Creating a pitch deck that stands out can be a challenging task, but it's essential if you want to attract investors to your business. Here are some tips to help you create a winning pitch deck:

1. Start with a Strong Introduction

Your introduction slide should grab investors' attention and make them want to learn more about your company. Use a catchy tagline, a powerful image, or a compelling statistic to draw them in.

2. Focus on the Problem You're Solving

Your pitch deck should explain the problem you're solving and why it matters. Use real-world examples and statistics to illustrate the problem and show why it's important.

3. Explain Your Solution

After you've described the problem, explain how your product or service solves it. Be clear and concise, and focus on the benefits of your solution.

4. Show Traction

Investors want to see that your company is gaining traction and making progress. Include data on customer acquisition, revenue, and growth to show that your business is on the right track.

5. Describe Your Marketing and Sales Strategy

Your pitch deck should explain how you plan to market and sell your product or service, including specifics on your target market, your marketing channels, your sales process, and any startup market research services you may use to gain insights into your target audience and industry.

6. Highlight Your Competitive Advantage

Investors want to know what sets your business apart from the competition. Explain your competitive advantage and show how it gives you an edge in the market.

7. Be Realistic About Financial Projections

Your pitch deck should include financial projections, but they should be realistic. Don't exaggerate your projections or make unrealistic promises. Instead, focus on achievable goals and realistic timelines.

8. Keep It Simple and Visual

Your pitch deck should be simple and easy to follow. Use visuals, such as graphs, charts, and images, to convey your message and make your presentation more engaging.

9. Practice, Practice, Practice

Finally, practice your pitch deck until you're comfortable delivering it. Practice in front of friends, family, or colleagues, and ask for feedback. Refine your presentation until it's polished and persuasive.

By following these tips, you can create a winning pitch deck that will help you attract investors and grow your business. Remember to start with a strong introduction, focus on the problem you're solving, explain your solution, show traction, describe your marketing and sales strategy, highlight your competitive advantage, be realistic about financial projections, keep it simple and visual, and practice, practice, practice.

Tips for Writing a Compelling Business Plan

Writing a business plan can be a daunting task, but it's an essential step in securing funding for your business. Here are some tips to help you write a compelling business plan:

1. Know Your Audience

Before you start writing your business plan, it's essential to know your audience. Who will be reading your plan? What are their goals and objectives? What information do they need to make a decision? By understanding your audience, you can tailor your plan to their needs and increase your chances of success.

2. Keep It Concise

While a business plan is a detailed document, it's essential to keep it concise. Avoid using jargon or technical terms that your audience may not understand. Instead, use short sentences and simple language to convey your message. Use bullet points and headings to break up the text and make it easier to read.

3. Focus on Your Unique Value Proposition

Your unique value proposition is what sets your business apart from the competition. It's essential to focus on this in your business plan. Explain why your product or service is better than what's already available in the market. Show how you plan to differentiate yourself and capture market share.

4. Be Realistic

When writing your business plan, it's essential to be realistic. Don't exaggerate your projections or make unrealistic promises. Instead, focus on achievable goals and realistic timelines. Provide evidence to back up your claims and show that you've done your research.

5. Include Financial Projections

Financial projections are a crucial part of any business plan. They show how you plan to make money and when you expect to become profitable. Include projected income statements, balance sheets, and cash flow statements. Be sure to explain your assumptions and include a sensitivity analysis to show how your projections could change under different scenarios.

6. Get Feedback

Before submitting your business plan, get feedback from others. Ask friends, family, or colleagues to review your plan and provide feedback. Consider working with a business coach or mentor who can provide guidance and support.

By following these tips, you can write a compelling business plan that will help you secure funding and grow your business. Remember to tailor your plan to your audience, keep it concise, focus on your unique value proposition, be realistic, include financial projections, and get feedback.

Key Components of a Business Plan and a Pitch Deck

A business plan and pitch deck have different components that are essential to the success of your company. Here are the key components of each:

Business Plan

• Executive Summary: This section provides an overview of your entire business plan. It should be concise and highlight key points about your company, such as the problem you're solving, your target market, and your competitive advantage.
• Business Description: This section describes your company in more detail, including your mission, vision, and values. It also includes information about your team, your product or service, your target market, and your business model.
• Market Analysis: This section analyzes your industry and your competitors. It includes information about your target market, your competition, your marketing strategy, and your sales strategy.
• Operational Plan and Management: This section explains how your company will operate on a day-to-day basis. It includes information about your organizational structure, your management team, and your operational processes.
• Service or Line of Goods: This section describes your product or service in detail. It includes information about the features and benefits of your product or service, as well as any intellectual property you've developed.
• Sales and Marketing: This section explains how you plan to sell your product or service. It includes information about your sales strategy, your marketing strategy, and your pricing strategy.
• Money Request: This section explains how much money you're raising and how you plan to use it. It includes information about your funding needs, your use of funds, and your financial projections.
• Financial Estimates: This section includes your financial statements, such as your income statement, balance sheet, and cash flow statement. It also includes any other financial information that investors may need to make a decision.

• Introduction: This slide includes your company name, logo, and tagline. It's the first thing investors will see, so it should be attention-grabbing.
• Problem: This slide explains the problem your company is solving. It should be concise and clearly explain why your product or service is needed in the market.
• Target Market: This slide describes your target market. It should include information about your ideal customer, such as their demographics, psychographics, and buying behavior.
• Solution: This slide explains how your product or service solves the problem you identified earlier. It should be concise and clearly explain the benefits of your product or service.
• Traction: This slide describes any traction your company has gained so far. It should include information about your customer acquisition, revenue, and growth.
• Marketing and Sales Strategy: This slide explains how you plan to market and sell your product or service. It should include information about your marketing channels, your sales process, and your pricing strategy.
• Competition: This slide describes your competition. It should include information about your competitors' strengths and weaknesses, as well as how your product or service is different.
• Funding Request: This slide explains how much money you're raising and how you plan to use it. It should be concise and clearly explain why you need the money.
• Financial Strength: This slide includes your financial projections. It should include your revenue, expenses, and profit margins.
• Team: This slide describes your team. It should include information about your management team, your advisors, and any other key team members.

Keep in mind that these are just the basic components of a business plan and pitch deck. Depending on your industry and your company's unique needs, you may need to include additional information.

Both a pitch deck and a business plan are essential tools for entrepreneurs seeking funding for their ventures. While a business plan provides a comprehensive overview of a company's operations and financial projections, a pitch deck is a more concise and visually appealing document that seeks to excite potential investors about a company's potential. Understanding the differences and appropriate use cases for each document can greatly increase an entrepreneur's chances of securing funding and growing their business. By following the tips outlined in this article, entrepreneurs can create compelling pitch decks and business plans that effectively communicate their vision and attract potential investors.

Key Takeaways

A business plan analyzes a business opportunity and/or an existing business, while a pitch deck aims to excite investors about a company and set up a meeting for an investment discussion.

A business plan is a lengthy, text-based document, while a pitch deck is a concise document that uses visuals to convey critical information as quickly as possible.

A business plan is helpful for obtaining debt financing from conventional banks, managing a bigger board of seniors in the company, and fundraising over $500k, while a pitch deck is useful for starting a conversation with an investor, pitching in a competition, and seeking equity funding.

A business plan is comprehensive and strategic, while a pitch deck is concise and engaging.

Both business plans and pitch decks have their advantages and disadvantages, so it's essential to understand the pros and cons of each and use them appropriately to communicate your ideas effectively.

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Answers, To The Most Asked Questions

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Pitch Deck vs. Business Plan – 3 Differences You Should Know About

by admin | Jul 27, 2017 | Pitch

Pitch deck vs. business plan

Before we start the big pitch deck vs. business plan comparison, we need to understand the basic information.

What is a pitch deck?

A pitch deck is a number of slides which summarizes your company. A pitch deck is not something you present, but rather something you send to potential clients or investors. Because of this, you should make sure that the pitch deck includes all the information required, since you can’t add information during a presentation.

What is a business plan?

A business plan is a detailed description of your company. It explains what your company does, how things are going and what your future plans are. A business plan can be as long as anywhere between 10 and 100 pages.

A business plan usually has two functions:

• You send it to investors, to give them information about your company
• You can use it later as a reference guide for yourself, to see if you’re still on track

So now you know a little bit about the differences between a pitch deck and a business plan. Does this mean you should only create one of them?

No. For your company you should always have both of them. I’ll explain why.

Why should you create a pitch deck and a business plan?

It’s not always pitch deck vs. business plan. In fact, you should create them both.

Since a pitch deck and a business plan have a very different set up, you should also treat them differently. A pitch deck is used when a potential investor, partner, or client wants to know the basic information about your company. Since it takes a long time to read a business plan, this one is usually sent over only when an investor is seriously contemplating investing in your company.

Because of this a pitch deck is usually the way to go. The ratio ‘sending a pitch deck’ vs. ‘sending a business plan’ will probably be around 10:1. As a rule of thumb, you only should send a business plan when somebody explicitly asks for it.

What is the difference between a pitch deck and a business plan?

When do you send a pitch deck or a business plan.

Pitch deck: As descried, a pitch deck can be sent early in the process. This can be done through cold ‘acquisition’, but preferably from an introduction via a mutual connection.

business plan: As described, a business plan doesn’t get sent too often. You need to have a business plan for yourself as a reference guide, but also for cases when an investor asks for it.

What is more important: a pitch deck or a business plan?

Since you’ll be sending a pitch deck way more often than a business plan, you might say that a pitch deck is more important. However, a pitch deck is usually created after creating your business plan. The business plan is the foundation for your pitch deck, and therefore is equally important.

We can help you with your pitch deck

If you don’t have experience with creating a pitch deck it can be a tough ride to create one. You want it to have a slick design, but even more important, it should communicate the right things. We can help you with this. Drop your information at https://pitchskills.com/pitch-deck/ and we’ll create one for you!

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Pitch Deck vs Business Plan: Understanding the Differences for Startup Success

Have you ever wondered what sets successful startups apart from the rest? While many factors contribute to their success, one crucial distinction lies in the way they present their ideas and plans to potential investors. Pitch decks and business plans are two commonly used tools in the startup world, each serving a unique purpose. In this article, we will dive deep into the world of pitch decks and business plans, understanding their differences and exploring how they can lead to startup success.

What is a Pitch Deck?

A pitch deck is a concise and visually appealing presentation that outlines the key aspects of a startup’s business plan. Unlike a traditional business plan, which is typically a detailed document, a pitch deck focuses on capturing the attention and interest of potential investors in a short amount of time. It is designed to be presented in person or virtually, usually accompanied by a verbal pitch. Picture it as a teaser trailer for your startup, where you have just a few slides to captivate your audience and make them eager to learn more.

The Power of Visual Storytelling

One of the key elements that differentiate a pitch deck from a business plan is its emphasis on visual storytelling. While a business plan relies heavily on words and numbers, a pitch deck incorporates compelling visuals to communicate the startup’s vision, market opportunity, product or service, business model, and team. By using eye-catching images, charts, and graphs, a pitch deck can effectively convey complex ideas and data in a visually appealing and easily digestible format.

What is a Business Plan?

A business plan, on the other hand, is a comprehensive document that provides an in-depth analysis of a startup’s business model, market research, financial projections, and operational strategies. It serves as a roadmap that outlines the company’s goals, target market, competitive landscape, marketing and sales strategies, and much more. A well-crafted business plan demonstrates a startup’s understanding of its industry and showcases its long-term vision and potential for growth.

The Art of Detailed Planning

Unlike a pitch deck, which focuses on capturing attention through visuals and concise messaging, a business plan delves into the nitty-gritty details. It requires thorough research and analysis, presenting a comprehensive overview of the startup’s market, competition, and financial projections. A business plan provides potential investors with a deeper understanding of the startup’s operations, strategies, and potential risks. It acts as a blueprint that guides the startup’s growth trajectory and helps align the team on a shared vision.

When to Use a Pitch Deck?

Now that we have a basic understanding of what a pitch deck and a business plan entail, let’s explore when it is most appropriate to use a pitch deck. Generally, a pitch deck is the preferred tool for initial investor engagements, such as introductory meetings, networking events, or pitching competitions. Its concise format allows for a quick overview of the startup’s key value proposition, market opportunity, and growth potential. A well-designed pitch deck can leave a lasting impression, leading to further discussions and potential investment opportunities.

The Art of Captivating Investors

When creating a pitch deck, it is essential to strike a balance between providing enough information to pique the interest of potential investors and not overwhelming them with too much detail. The key is to craft a compelling narrative that highlights the startup’s unique selling points, demonstrates market demand, and convinces investors of its growth potential. By focusing on telling a captivating story, a pitch deck can make a strong impact and generate investor excitement.

When to Use a Business Plan?

While a pitch deck is ideal for initial investor engagements, a business plan comes into play as discussions progress and potential investors express deeper interest. A business plan provides a more detailed and comprehensive understanding of the startup’s operations, strategies, and financial projections. It acts as a reference document that potential investors can review at their own pace. Additionally, a business plan is often required when seeking larger investments or securing bank loans.

The Blueprint for Long-Term Success

A business plan serves as a roadmap that guides the startup’s growth and operations. It helps align the team on the company’s goals, strategies, and milestones. A well-crafted business plan demonstrates a startup’s understanding of its industry, target market, and competitive landscape. It provides clarity on the startup’s revenue streams, cost structures, and financial projections. By developing a comprehensive business plan, startups establish a solid foundation for long-term success and growth.

Final Thoughts

In summary, both pitch decks and business plans play crucial roles in startup success. While a pitch deck acts as a visually appealing and concise tool for capturing attention and generating investor interest, a business plan dives deep into the details, outlining the startup’s operations, market strategies, and financial projections. Understanding the differences between these two tools and knowing when to use them can significantly impact a startup’s ability to attract investors and pave the way for long-term success. So, whether you’re preparing for a pitch competition or seeking funding for your startup, make sure you have a compelling pitch deck and a comprehensive business plan ready to showcase your vision and potential to the world.

References:

• Business plan on Wikipedia
• Pitch deck on Wikipedia

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How do business plans differ from pitch decks?

If you are a new entrepreneur you might get confused with some of the business terminology and have trouble understanding what type of document an investor or other stakeholders may require from you.

Differentiating between business plans and pitch decks in particular is a well known struggle. Whilst they may feel like similar documents that can help you raise capital, a pitch deck varies significantly from a business plan in the way it is created, structured, and used. 

Luckily for you, this guide covers what each of the documents are, how they differ, how they are used and what tools businesses can use to create them.

In this guide:

What is a business plan?

What is a pitch deck, business plan vs. pitch deck: what do they have in common, business plan vs. pitch deck: what are the differences, what tools can you use to write a business plan, what tools can you use to create a pitch deck.

A business plan is a document providing detailed information about your business and its objectives for the years to come (usually 3-5 years).

To keep it short and simple, a business plan consists of two parts: 

• A financial forecast which provides information about the expected growth and profitability of your business, your potential funding requirements, and cash flow projections.
• A written part which provides the context and details needed to assess the relevance of the forecast: company overview, description of products and services, market analysis, strategy, operations, etc.

Formal business plans are usually written: to secure financing, to get buy-in from stakeholders (board members, investors, business partners) on the plan of action for the coming years, to convince suppliers to do business with the company, or to communicate the company's vision to staff members.

Financial savvy businesses regularly track their actual financial performance against the forecast included in their business plan and re-assess their progress against what was planned, and update their plans as needed.

Need a convincing business plan?

The Business Plan Shop makes it easy to create a financial forecast to assess the potential profitability of your projects, and write a business plan that’ll wow investors.

Strictly speaking, a pitch deck is just a generic term to design a document format: a pitch deck consists of slides and can refer to any type of presentation given to stakeholders.

For example, you can use pitch decks to:

• Pitch an investment opportunity to an investor: example pitch deck from Buffer
• Pitch a product to a prospective buyer: example sales pitch deck for Office 365
• Pitch an agency's capabilities: example agency pitch deck from ANL Creative
• Pitch new business ideas internally

Pitch decks are used everywhere, for the rest of this guide however, we will focus specifically on pitch decks designed to help secure new funding from investors.

Business plans and pitch deck share similarities between them, let's have a look at some of them.

Help secure funding for business

Both documents are used when trying to secure funding from investors for a business.

Typically, a pitch deck summarizes key information from the business plan and is used to pitch the highlights to investors before sending them your fully fledged business plan.

Visual elements

While a pitch deck may rely more on visuals, considering it is designed to be a presentation, both items use visual elements. 

A business plan, just like a pitch deck, may contain graphs, charts, and pictures to illustrate information, especially in the market analysis section.

Financial information

Since both are intended to provide information to stakeholders regarding the business, both a pitch deck and a business plan will likely contain projected financial information. 

Since a pitch deck is more of an introductory pitch, it is likely to not go into as much detail as a business plan does.  

Strategy and decision-making

Because both introduce potential investors to the business, a pitch deck and a business plan discuss business strategy. 

They typically reflect how a business plans to operate and generate income, showing investors why it makes for a worthwhile investment.

As a result, both are used as decision-making tools regarding investing in the business. 

While they boast some similarities, pitch decks and business plans vary significantly in many ways. Some of these differences include:

Means of delivery

The way a pitch deck is presented is very different from a business plan - Being a visual presentation, it contains a series of slides with information about the business. 

Pitch decks are not standalone items and are accompanied by a senior manager or partner providing commentary. The contents of the slides also typically do not go into much detail, simply highlighting key messages instead. 

While the aim of the pitch deck is to draw investors to the business idea, the business plan provides more in-depth information to help them make a final decision about whether to invest or not. 

Business plans carefully detail the business, its strategies, future goals and are written as formal documents that can be read and understood on their own. 

Given the different modes of delivery, the format of both documents also differ. As mentioned previously, pitch decks use slides to convey information to the reader, and each slide is likely to hold limited information written in large(r) font. 

Pitch decks are also likely to contain far more graphical elements such as charts, images, drawings and graphs. Business plans are often not as visually appealing but richer in substance and more formal.

The length of the two documents can vary but as a general rule, business plans tend to be longer than pitch decks. 

A pitch deck will typically consist of about 10 to 15 slides (one slide usually takes 1-2 minutes to be presented), though further appendices may be added to answer specific investor questions. 

A business plan usually spans between 20 and 30 pages and contains a lot more information, whilst also including appendices at the end of the document.

Amount of financial information

Both business plans and pitch decks contain financial information but the quantity and type usually differ.

Pitch decks usually have no more than one slide dedicated to financials and prefer to zoom in on key figures.

Business plans, however, include a detailed balance sheet, a profit and loss account, and a cash flow forecast. 

Order of creation

In terms of presentation, a pitch deck is offered to investors first as an introduction to the business. 

However, it can only be created once the business plan has already been produced, as the pitch deck summarizes the information presented in the plan.

Frequency of use

A pitch deck is typically created for one-off use. Once the financing round is complete and you’ve met with all the potential investors, you’re unlikely to need the same document again. 

However, you will need to refer to your business plan down the line to ensure that the business is on track to achieve its forecasted financials and goals (and adjust as needed). 

Need inspiration for your business plan?

The Business Plan Shop has dozens of business plan templates that you can use to get a clear idea of what a complete business plan looks like.

In this section, we will review three solutions for writing a professional business plan:

• Using Word and Excel
• Hiring a consultant to write your business plan 
• Utilizing an online business plan software

Create your business plan using Word or Excel

Writing a business plan using Word or Excel has both pros and cons. On the one hand, using either of these two programs is cheap and easy to learn. 

However, using Word means starting from scratch and formatting the document yourself once written - a process that can be quite tedious. There are also no templates or examples to guide you through each section.

Creating an accurate financial forecast with Excel is also impossible for a business owner without expertise in accounting and financial modeling. As a result, investors and lenders are unlikely to trust the accuracy of a forecast created on Excel.

Ultimately, it's up to you to decide which program is right for you and whether you have the expertise or resources needed to make Excel work. 

Hire a consultant to write your business plan

Outsourcing a business plan to a consultant or accountant is another potential solution.

Consultants are used to writing business plans, and accountants are good at creating financial forecasts without errors.

This means that they will be able to create an effective business plan with accurate financial estimates without much effort.

However, accountants often lack the industry expertise to accurately forecast sales. And hiring consultants or accountants will be an expensive endeavour: budget at least £1.5k ($2.0k) for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with investors).

For these reasons, outsourcing your business plan to a consultant or accountant should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their own business plan using an online software.

Use an online business plan software for your business plan

Another alternative is to use online business plan software . There are several advantages to using specialized software:

• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can be inspired by already written business plan templates
• You can easily make your financial forecast by letting the software take care of the financial calculations for you without errors
• You get a professional document, formatted and ready to be sent to your bank
• The software will enable you to easily track your actual financial performance against your forecast and update your forecast as time goes by

If you're interested in using this type of solution, you can try our software for free by signing up here .

A pitch deck is presented as a series of slides and so applications such as Microsoft Powerpoint, Google Slides and Prezi are ideal to create the presentation.

Pitch decks are notoriously time consuming and tedious to produce: designing and correctly alligning elements in order to make the slides "look good" is a real time sink - especially for entrepreneurs who aren't expert at PowerPoint.

Therefore, the polishing of pitch decks is often outsourced to graphic designers or freelancers that specialize in creating presentations in order to save time and get a document that looks professional.

We hope that this guide helped you get a better understanding of the differences between pitch decks vs. business plans. don't hesitate to contact our team if you have any questions left unanswered.

Also on The Business Plan Shop

• Business plan steps: everything you need to know
• Business plan vs business case: what's the difference?

Know someone in need of a little guidance in making a business plan? Share this article and help them out!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Pitch Deck vs Business Plan

A relatively common question we get revolves around business plans. A good amount of our customers asks us if we can write a business plan for them, and we always respectfully decline. 

I believe a startup should NOT write a business plan. It's a terrible waste of time for the founders in the early stages of the company when they should be focusing on validating their business premises.

We are going to look into why the business plan is an outdated way to approach starting a business, and how new frameworks like The Lean Startup are a much more effective way to build companies.

Definition of a business plan 

"A document setting out a business's future objectives and strategies for achieving them."

If you look at most business plan templates available online, you are often looking at a 20-40 page document that touches on The Opportunity, Problem, Market Size, Execution, Sales Plan, Company, Team, Financial Plan...

Well, guess what, a pitch deck touches on every single one of those topics; the difference between a pitch deck and a business plan is that a pitch deck can take a few hours to write (less than an hour if you use that a really awesome tool we've mentioned before). In contrast, a business plan will take you days and days of writing, proofreading...

An angel investor or venture capitalist evaluating a startup for a seed round is not going to sit down and read a 40-page document. They want to know that you are on the right track. They want to confirm that you have a plan to grow the business, but that doesn't need to be a 20-page document. 

Any starting business is built on assumptions. On the assumption that this product or service is going to appeal to these users. The assumption that these marketing tactics are going to be effective in converting them. Yet, all of these assumptions might be wrong, and it's the CEO's job to test these assumptions fast, and if the premises incorrect, pivot the company in the right direction as fast as possible. 

In the end, it's a race against time. How many iterations of your product, audience, and marketing/sales strategy can you go through before you run out of time? For a startup, time = Funding/Money. 

If you had to spend two weeks putting these assumptions on paper, proofreading them, and styling that business plan, you literally wasted two weeks of precious time. You could have run two audience experiments at that time and find out right away, instead of just 'planning.' 

That's my problem with business plans, in a nutshell. They take too long to write. You should spend that time validating instead of planning. 

This mentality comes from the framework most startups these days abide by, laid out on The Lean Startup by Eric Ries . It's a fantastic book any entrepreneur should read, and we'll be giving away a few- so stay tuned on how to get them. 

The methodology that the book proposes is the Build - Measure - Learn cycle. 

- First, you BUILD an iteration of your product. That may be an MVP, a website, a version of your app or service.

- Then, you MEASURE . You throw this iteration to the world and measure its success. That may be conversion rate, sales, click-through rate. You need to understand if your premise is correct and if it has a measurable impact on your company performance. 

- Finally, you LEARN . You study the results, understand if they were positive or negative, and create a new premise based on them. Once you are done with this analysis, you BUILD again. 

Every key aspect of our business was built this way. 

We first launched a simple landing page to figure out if people would be interested in this pitch deck, AI design product. We measured conversion rate, compared it to our expectations, and then built our next iteration, which became our first beta. 

Every single marketing campaign we do is a Lean Startup product. We come up with a new campaign, "BUILD" it as fast as we can, MEASURE it, LEARN, and then improve on it. 

Our last relevant iteration was our pitch deck consulting service. We had a theory that many startups who were using our product to build pitch decks would benefit from a real human assisting them. We didn't know.

Instead of running market studies or business plans, we BUILT a quick landing page, threw some traffic in there, and MEASURED results.

When I say build a landing page, this was a few-hour project. The first few leads were landing directly on my cell phone, and I used to handle both the sales, quoting, writing, and design stuff. This is as lean as you can get. 

Only when we LEARNED that this business made sense, that the economics worked, and that we could scale it, we went back to BUILDING a new iteration, with a much more elegant page, sales and nurturing process. 

We had the answer to this question in less time than it would have taken us to write a business plan, and that's the moral of the story. 

We've also built countless lean startup experiments that have failed, by the way. But that's the point, we MEASURE fast, LEARN that we were wrong, and carry on. 

Pitch Deck vs. Business Plan

A pitch deck is The Lean Startup version of a Business Plan. 

To write a compelling pitch deck, you also need to have figured out your Total Addressable Market and your Go to Market Strategy. The difference is the pitch deck fulfills the purpose of pitching this to an investor without requiring the extended version. 

More importantly, the reality for any company is that they are going to be wrong about their assumptions in the early stages. Their pricing might change, or their 4-page sales plan might not work at all, so they need to be able to change course as fast as possible. 

On your pitch deck, you should be passionate about your expansion strategy; you should believe in it, and show your metrics to prove whether it's working or not. Still, everybody in the room knows your success will depend on your ability to come up with new strategies and deploy them faster than your competition. 

Another pair of fantastic tools that can help you replace a Business Plan is the Business Model Canvas and the Lean Validation Board. Both of them can help you figure out the answers to these questions. 

In summary...

Make sure you can answer these key questions about your business. 

• How big can it be? Is it a $1MM, a $10MM or a $100MM company? 
• How fast can you get there? 
• If you are B2C or business to consumer- Who is your perfect customer? How old are they? Where do they live? What apps do they have on their phone? What do they do for fun? 
• If you're a B2B or business to business - Who is your perfect client? How big is the company? 
• Who in the company do you need to get in touch with? How makes the call to buy your product? How much money do you make per customer, and therefore, how much can you afford to spend to sign them up? 

Most of the companies we work with are missing one of those questions, which makes it really hard to define the type of investor they need to look for.

If YOU can answer them, then summarizing them into a slide is a no-brainer, especially with a platform like Slidebean that takes care of the design for you. Don't forget to subscribe to our channel !

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Pitch deck vs business plan – Which do you need for your business?

What is a pitch deck.

A pitch deck is a presentation that entrepreneurs use to sell their business idea to potential investors. The purpose of a pitch deck is to give an overview of the business, its products or services, its market opportunity, and its team in order to persuade the audience to invest in the company.

What is a business plan?

A business plan is a document that outlines the goals, strategies, and financial projections of a business. It is used to persuade potential investors to invest in the company.

Pitch deck vs Business plan

Pitch decks and business plans are different in their purpose, content, and format.

Pitch decks are typically shorter and more visual than business plans. They are used to give an overview of the business and its opportunity, and to persuade the audience to invest in the company. Business plans are longer and more detailed. They are used to outline the goals, strategies, and financial projections of the business.

Whether you need a pitch deck vs a business plan will depend a lot on the type of business you are running or planning to set up.

Both these documents help entrepreneurs navigate their businesses over the next few years. And both these documents help investors in deciding whether to fund the business or not. However, where business plans are essential for traditional businesses that have a more concrete pathway to success, startups don’t require business plans. A pitch deck is more appropriate for a startup as a lot will change in the course of business.

In this post, we will discuss the differences between pitch deck and business plan and help you determine which one is necessary for your business.

The purpose of a pitch deck is to raise money from venture capitalists and angel investors. The purpose of a business plan is for traditional businesses or late-stage companies to raise money from investors and banks and also to forge partnerships with other organizations.

A pitch deck is a summary to help investors get a decent understanding of the business and helps create opportunities for entrepreneurs to get meetings with venture capital firms and angel investors. Business plans on the other hand serve as full-proof research to help investors understand whether they should invest.

As mentioned previously, pitch decks are more apt for tech startup companies whereas business plans are prominently used by established businesses, small or big.

If I am an angel investor or a venture capitalist investing at a seed stage (up to $1 million), I am more interested in the team and the idea and how the business could disrupt a whole industry or create a new one. When the company has grown from an idea to a company with employees and millions of dollars in revenue, I am more interested in seeing how they will reach stability and become the number 1 or 2 player in the market, and I am interested in detailed strategies. That is when I want to look at the business plan and understand how they will execute their plans.

Pitch decks can range between 10-50 pages and depend on the stage of the startup. For example, investors who invest in very early-stage startups require not more than a 10-page pitch deck. However, as the startup grows and raises more money, investors who come in at a later stage would want more information and might require a detailed pitch deck that can range up to 70 pages.

Business plans on the other hand are very detailed as cover every aspect of the business and can easily be 100 pages long. A business plan can even contain forecasts for the next 5 years.

A typical investor will spend 2-3 minutes going through a pitch deck but needs to spend more time going through a business plan as there are more details.

Audience Focus

A pitch deck focuses on the team, product, market, and traction metrics. These are 4 primary features investors look at to decide whether to invest or not. And these features can easily fit into a 10-page deck.

When the relevant audience looks at a business plan, they want to know if the business they are getting into is/can be profitable and also runs stable operations. In other words, since business plans look at a much longer-term, it includes a lot of details.

Presentation

Pitch decks are more visual compared to business plans and are presented vocally to an audience or a set of investors. Business plans are presented verbally as they are read by the relevant audience. Since business plans are longer, they are not presented to an audience.

Pitch decks are usually created with software like Microsoft PowerPoint or Google slides. There is also other software like Prezi and Slidebean which specifically help in preparing pitch decks.

Business plans are usually prepared in Word format as they are heavily text-based.

These are the key differences between startup pitch decks vs business plans.

Pitch deck vs business plan, w hat comes first?

The pitch deck is a teaser and comes first. If you are running a business and have decided to raise funds from investors, it’s obvious that you probably don’t know most of them. So, a pitch deck is a great way to get your foot on the door and make a good first impression.

With many new entrepreneurs starting up, you can imagine that every investor gets plenty of pitch decks and business proposals to invest in. Probably hundreds, every month. So, if they have to read lengthy business plans, they won’t have time to actually make investments. That’s why it’s essential to capture their attention with a crisp 10-15 page pitch deck that introduces them to the team, the idea, and how the business can make investors rich.

Do you have all the elements of a good pitch deck?

A good pitch deck gives you the opportunity to grab the attention of investors. A good pitch deck contains most of the necessary information required for investors to make a decision on whether they should talk to you. Take the free assessment to find out if you have all the elements that should be included in your pitch deck .

Also, check out our post on how to create a good elevator pitch to get investors interested in what you’re building.

Tips for creating a good pitch deck

Here are a few tips for creating a successful pitch deck:

– Keep it short and sweet: Remember that you only have a few minutes to make your case, so make sure your deck is concise and to the point.

– Focus on the key points: Investors will want to know about your team, your business model, your traction, and your financial projections. Make sure you hit on all of these points in your deck.

– Use visuals: A pitch deck is a great opportunity to show off your company with some visuals. Include slides with graphs and charts to illustrate your key points.

– Practice, practice, practice: Before you ever step in front of investors, make sure you’ve practiced your pitch a few times. This will help you deliver it confidently and ensure that you don’t leave anything out.

Do you need a pitch deck and a business plan?

This is a common question for entrepreneurs. The simple answer is that it depends on your stage of business and what you’re using the documents for.

A pitch deck is a shorter, more visual version of a business plan that you use to introduce your company to potential investors, customers, or partners. A business plan, on the other hand, is a more formal document that you use to map out the details of your business, including your business model, marketing plan, financial projections, and other operational details.

So which one do you need? If you’re just starting out, you’ll probably want to focus on creating a solid business plan. Once you’ve got that in place, you can use it as the foundation for your pitch deck. If you’re further along in your business and are looking to raise money or secure partnerships, then you’ll need to create a pitch deck.

Creating a pitch deck is a good way to concisely communicate your business plan and get feedback from potential investors, customers, or partners. If you’re raising money, your pitch deck will be one of the first things investors look at, so it’s important to make a good impression.

Partha Chakraborty

Partha Chakraborty is a venture capitalist turned entrepreneur with 17 years of experience. He has worked across India, China & Singapore. He is the founder of Tactyqal.com, a startup that guides other startup founders to find success. He loves to brainstorm new business ideas, and talk about growth hacking, and venture capital. In his spare time, he mentors young entrepreneurs to build successful startups.

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Business Plan vs. Pitch Deck

by Alejandro Cremades

Business plan vs. pitch deck? Which should you be focusing on first as a startup founder?

For decades entrepreneurs and business owners believed they needed to focus on building a comprehensive business plan. All before taking real action. There were good reasons for that. More recently, many entrepreneurs have gone almost exclusively with pitch decks in place of a traditional business plan.

Which of these two approaches is best? Does it depend on the type of business you are starting or if you plan any fundraising efforts? Is a hybrid approach the wisest move? Or should you stay intensely focused on one before the other?

*FREE DOWNLOAD*

The ultimate guide to pitch decks.

Here is the content that we will cover in this post. Let’s get started.

• 1. Definitions: Business Plans Vs. Pitch Decks
• 2. Uses For A Business Plan Today
• 3. The Pros & Cons Of Business Plans Today
• 4. Uses For A Pitch Deck Today
• 5. The Pros & Cons Of Pitch Decks Today
• 7. FULL TRANSCRIPTION OF THE VIDEO:

Definitions: Business Plans Vs. Pitch Decks

A traditional business plan is a fairly lengthy text-based document. It lays out all of the parts of the business.

From the corporate structure to marketing plans to startup needs and growth plans and financial forecasts for the next five years. Plus the much longer-term game plan. This is typically in a Microsoft Word style format, and can easily run 25 pages. It begins with a brief executive summary . Which can be 1-3 pages long on its own. 

A pitch deck is a slide-based presentation. Think PowerPoint or Google Slides formatting. Ideally, your pitch deck will run between 5 to 20 slides. It is a very short, simple and compact version of a traditional business plan. Pitch decks emerged specifically for pitching startups to potential investors for fundraising. However, they are increasingly replacing business plans. 

Uses For A Business Plan Today

Are business plans still relevant today?

Yes and no. Every business and entrepreneur should have a plan. We all know what failing to plan means. Yet, what is effective and valuable in terms of business plans may be changing and evolving.

A business plan really helps you get depth and length in your plans. It gives more clarity than you could ever fit into a pitch deck. This process helps entrepreneurs really think through the details and big vision and long term game plan. It helps you get granular with marketing plans, startup costs, cash flow needs, and financial projections.

It also helps to give you a framework to start building on. As well as really thinking through a functional business model .

Investors, advisors and other key players may be completely satisfied with seeing a one-page business plan, executive summary, and bullet-pointed action plan. Providing that accompanies a great pitch deck.

However, there may still be some scenarios in which you will be asked for your business plan. This includes applying for some types of loans, leasing space and joining certain groups or applying for licenses. 

The Pros & Cons Of Business Plans Today

The advantages of business plans:.

• Being forced to think through the details
• Having an in-depth plan and awareness of your real needs
• Being able to back up the hype with something tangible
• Credibility with potential partners and early investors
• Being prepared if you are asked for it
• Having a comprehensive guide and roadmap to follow

The cons of business plans:

• Chances are no one else will ever read it
• Things move so fast, most may be irrelevant in a couple of months
• It’s a black hole for your time, energy and momentum
• Many entrepreneurs get bogged down here and miss their best opportunities
• Additional expenses with negligible returns
• Appearing like a novice to experienced investors

Uses For A Pitch Deck Today

A pitch deck is for more than just fundraising. Below is a video where I cover how to create a pitch deck.

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In fact, you’ll find pitch decks useful from before day one through your exit. 

These scenarios include:

• Honing your initial concept and model, like with a business plan
• Gaining initial feedback 
• Recruiting cofounders
• Enrolling advisors
• Hiring early and key team members
• Pitching investors on and offline
• Securing early customers and strategic partnerships
• Through multiple fundraising rounds
• Getting to an exit

The Pros & Cons Of Pitch Decks Today

The advantages of pitch decks:.

• Expected when raising capital
• A streamlined framework for creating a mini business plan
• Easily and efficiently updated for multiple purposes and overtime
• Much faster to create
• More likely that you will use and refer to it often
• Easier to share
• Enables you to get down to business faster

If you want to go more in detail you can view the video below where I cover this.

The cons of pitch decks:

• Can be an excuse not to have a real plan of model
• Dangerous gaps from not thinking through the details
• Not prepared when a business plan is requested
• Emphasis on fluff and hype versus substance
• Very short term outlook

Summary 

There are many advantages and disadvantages of solely running on a traditional business plan or new modern pitch deck. Trying to juggle both simultaneously can further compound the cons, distraction, and length of time before you really get into the game. 

Today, it seems the best-prepared entrepreneurs, especially when it comes to getting funded are those with a strong pitch deck, and at least a one-page business plan, and strong executive summary. 

Do not dismiss the importance and value of having a real plan. You could be sabotaging your own mission and future. If you plan to stay small local business or solopreneur forever a real business plan is smart. Though as the founder of a fast-moving startup that needs funding, a pitch deck can be even more important. You’ll probably be moving so fast your business plan will never keep up. 

If you have to choose one, it should be focusing on knocking out a winning pitch deck. This process will also give you many of the answers and framework for fleshing out your real business plan. At least this way you’ll be poised to raise money, and build out your team and gain early clients in the meantime. 

Remember that storytelling plays a key role in fundraising and you will need capital to scale things up. This is being able to capture the essence of the business in 15 to 20 slides. For a winning deck, take a look at the template created by Silicon Valley legend, Peter Thiel ( see it here ) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.

Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.

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FULL TRANSCRIPTION OF THE VIDEO:

Hello, everyone. This is Alejandro Cremades, and today we’re going to be talking about the main difference between a pitch deck and a business plan. Essentially, a pitch deck is a 15 to 20 slide presentation, while a business plan is a 10 page to a 100-page document. Both have been sent in the past or have been used to be sent to investors when you’re raising capital. So with that being said, let’s go into it and really understand the difference between one and the other.

In terms of the actual use: the actual use of the business fund, I think it’s a great way to give a complete inside to the business to the investor. Remember: it’s a 10 page to 100-page document. The thing about a business plan is that it tends to be lengthy. Data shows that typically investors, right off the bat, especially doing the first discussions, they’re going to be only allocating to reviewing your opportunity about 2:41. That’s it. 

With that being said, the main difference here is that, for example, on the pitch deck, you’re really giving that possibility to the investor of reviewing everything in those 15 to 20 slide of the business, understanding the 30,000-foot view, and really knowing if that’s an opportunity that they want to pursue further, or perhaps that it makes no sense because maybe it’s not a fit with their investment thesis.

In terms of the actual disadvantages of maybe pitch decks or business plans, the main disadvantage of a business plan is the fact that your business is going to be constantly changing. No single business plan is completely bulletproof to the market. So you may be investing a ton of time in putting those 100 pages. Then you go to the market, and you realize that you need to either optimize or iterate on the business model in order to get it right. So that’s basically going back to the drawing board.

What I like about the pitch deck is that it’s just a 15 to 20 slide presentation where you can continue to iterate and optimize the presentation as you go based on the feedback that you’re getting from investors, from customers, from employees, whoever that is that is helping you to understand how you’re positioning this better towards the investors that are going to be reviewing the document.

In terms of the business plan today, certainly, it has taken a backstep towards the fundraising process when it comes to pitch decks. Pitch decks today are used more than business plans, and they’ve been taking the lead over the course of time.

Now, the beauty here of business plans, though, is that they’ve taken a backstep, but they’re a great document that you could use with your team and then also to showcase to investors if there’s further interest as an 18 to 24-month roadmap as to how you’re planning to execute the business.

For the pitch deck, again, it’s a great way to showcase the 30,000-foot view of your business in a way in which you can continue to change depending on the concerns and those questions that you’re receiving while you’re out there raising the capital.

Lastly, as part of the difference between the business plan, and then also the pitch deck, remember timing. Timing is the reason why you’re going to be sending a business plan is because the investor is about to make the investment. It’s one of the last things that they need in order to push forward and give you the money.

Then while you’re sending the pitch deck is because you want a secure meeting because you want to maybe convince the investor further. But, really, the difference is that one is going to be lengthy, while the other one is going to provide a 30,000-foot view of the business.

So with that being said, if you like the video, make sure that you Like this video and then also hit the Subscribe so that you don’t miss any other videos, and then leave a comment. And don’t forget to check out the fundraising training where you’re going to be able to see how we help founders from A all the way to Z with everything related to fundraising, live Q&A, templates, agreements, you name it. Thank you so much for watching.

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The differences between a business plan, pitch deck and an elevator pitch

• Pitch deck design /
• Presentation design

Over the years we encountered confusions between our startup clients regarding whether they should have a business plan before making a pitch deck or if they need one in the first place. So let’s put it like this, the business plan is your house, the pitch deck is your window that shows the indoor beauty and the elevator pitch is your alley to the house.

First things first, you need all three of these materials prepared when you want to start a business. Before we start to talk about the differences between them, let’s go through some basic information.

What is a business plan?

A business plan is a document that contains a detailed description of your business. You will use it as a roadmap for how to structure, run and grow your new business. It is built to store and transmit your plans for the next 1, 3 or 5 years, including the research of the industry,  the competitors. It covers the sales predictions, the marketing strategy and the operational plans.

The document is based on charts, representations of growth and financial strategy, but mainly the information is transmitted through plain text. A common business plan has a length of 10 to 100 pages. As nobody has the patience to go through a 100 pages document you should keep it simple, but well structured.

In the end you are making the business plan for you, to reflect the vision and the direction you are going. After that, the goal of a business plan is to give investors information about your company, to show them how do you plan to use their investment. 

Tip: You should be honest with yourself in your business plan, which is why it’s important to consider challenges and opportunities. If you’ve got a strong idea, let it stand on its merit.

What is a pitch deck?

A pitch deck is a presentation that summarises the business plan and it gives an overview of your company. It is usually made using PowerPoint, Keynote or Prezi as a visual support and used in face-to-face/ online meetings with potential investors, customers, partners or presented in pitch competitions.

The pitch deck contains 10 – 20 slides and should include all the information required, as you may be asked to send it after the presentation. The structure can vary from business to business, but it must include company details, who it serves and why, the size of the market, you added value. 

The goal of the pitch deck is to show investors where you are, where you are going and most important to get a meeting or start a conversation with one about funding you.

If you want to know more about what to put in a pitch deck read

How to create a great pitch deck .

What is an elevator pitch?

As its name says an elevator pitch is a brief description of your business, like a movie trailer, that can be presented during an average elevator ride 10 – 30 seconds. An elevator pitch should be pre – prepared so when the occasion arises you will know exactly what to say.

You can also look at it as a positioning statement. Start with Who do you help , this is also important to set for yourself. Now they are listening to you so you continue with what you help them with .

The elevator pitch can be used in other situations, such as job fairs, networking events, your LinkedIn bio. It is a great way to introduce you to people that you meet as a conversion starter.

The goal of this speech is to be short and spark interest to your elevator ride so they want to know more about your business.

Focus your elevator pitch around “ We are X and we help Y to do Z “

What are the differences?

Basically all three of them have the same content, but it’s a matter of details. You start with the business plan that has everything about the business, then make a more compact version for the pitch deck and finally you create an elevator pitch that has the essence of your business.

The link between the business plan, the pitch deck and the elevator pitch

We talked about the differences, but now let’s see what is the connection between these three. 

As we know the pitch deck and the business plan include mostly the same section and while the business plan is more detailed, the pitch deck offers high level information on some sections ( problem, solution, product, market, team). We can consider the pitch deck a visual summary of the business plan.

The elevator pitch is used without an additional support, but when presenting a pitch deck the first information has the role of an elevator pitch, to catch the attention of the investors for the rest of the presentation. You open the pitch deck presentation with the elevator pitch.

Looking at the big picture we can see that the elevator pitch is included in the pitch deck, which in his turn is included in the business plan.

Download a Free Guide to design your pitch deck

We recommend having all of them prepared. For the business plan you can use all kinds of templates and platforms to build one or having a consultant working with you. The pitch deck should be made with a pitch deck designer as it needs to be compelling, but there are also a lot of tips for how to create one. And for the elevator pitch follow a structure that puts your advantages in the spotlight.  

Hope this helped you to have a clear perspective about what is a business plan, a pitch deck, an elevator pitch, when to use them and what are the differences between them. 

If you already decided that you need to have an stunning design for your pitch deck we are here to make that for you.

Need help designing or structuring your next presentation?

Our team can help with everything from research, to creating your presentation flow, writing the content, designing and building your slides.

Get in touch

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Understand the difference b/w pitch deck and business plan

Radha Dhaked | May 31, 2022 May 31, 2022 | Pitch Deck

What is the difference between a pitch deck and a business plan?” has probably crossed your mind at some point in your career as an entrepreneur, whether you’re just starting out or whether you’re a successful entrepreneur. What’s the most effective strategy for your start-up? Is it really necessary to have either one? Questions like this are critical that you are asking.  Especially when you’re creating and expanding a business and you’ve got a limited amount of time. Prior to answering these questions, let’s go through what a pitch deck and a business plan are.

What is a Pitch Deck?

A pitch deck is a visual presentation consisting of 10 to 20 slides that give investors an overview of the company’s business plan. An investor’s initial exposure to an organization is generally through a presentation like this. In many respects, the investor’s first impression of a firm is critical.

In other words,  Pitch decks are used to introduce a company to potential investors and provide them a basic overview of its operations. As a bonus, it makes it easier to communicate simply and clearly about a company’s products, services, and the market in which they operate.

Pitch Deck acts as an essential tool to attract investors. It also sets out market tactics, looks at future prospects, and describes your business strategy. In addition, a solid pitch deck aims to convey your research and insights in the most aesthetically beautiful manner possible.

Investors may see how far you’ve come, where you are now, and where you plan to be in the future by looking at your financial information in the pitch deck.

What is a Business Plan?

A business plan is a thorough explanation of your company’s operations. structure, operation, and expansion of your new company are all outlined in this document. It is designed to store and convey your ideas for the following one, three, or five years, as well as your research into the industry and the competition. It includes the sales forecast, the marketing strategy, and operational strategies.

The majority of the information is conveyed by plain text, although charts and graphs are also used to illustrate growth and financial strategy. A typical business plan is 10 to 100 pages long. Nobody has the time to read a 100-page paper, so you need to make it concise but well-organized.

As a result, it’s a well-researched document that covers all aspects of your organization, from marketing to financing, in great depth. It also contains information about your long-term goals of the organization.

A thorough investigation of your company and the industry in which it operates is also an important component of the business plan. SAS an added benefit, the business plan  describes the inner workings of senior management, what each individual contributes to the table, and how the company plans to achieve its goals

Know the difference b/w Pitch Deck and Business Plan

5 Benefits of Outsourcing to get Startup Best Pitch Deck

Moreover, If you want any other guidance relating to  Business Plan & Project Report , please feel free to talk to our business advisors at 8881-069-069 .

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Deck vs. Patio: Costs & Differences

$5,000 – $10,000 average deck cost (10' x 20'), $2,000 – $3,400 average patio cost (10' x 20').

Deck vs. patio comparison

Both patios and decks enhance your outdoor living space, and the final choice comes down not only to budget but also aesthetic preferences, durability, and maintenance requirements. The following table compares costs and important features to help you decide which option is best for your home.

*For pressure-treated pine

Deck vs. patio cost

When comparing the cost of decks vs. patios, a wood deck costs $25 to $50 per square foot on average, while a paver patio costs $10 to $17 per square foot, and a poured concrete patio costs $5 to $15 per square foot , including installation.

However, costs for decks and patios can vary considerably depending on the type of wood or pavers and the design complexity.

The cost to build a deck made of pressure-treated pine is $25 to $50 per square foot . Other wood deck materials, like bamboo or cedar, cost $27 to $70 per square foot for installation. Composite decking is a more low-maintenance option and costs $40 to $80 per square foot with installation.

Decks use materials like lumber, concrete footings, and railings and involve more extensive labor for framing and construction to meet building codes. This drives up the overall cost significantly. However, decks offer the advantage of being elevated off the ground, which many homeowners prefer for their outdoor living area.

A patio costs $5 to $35 per square foot , depending on the material. The most common paver patios cost $10 to $17 per square foot installed. Paver patios use modular paving stones or concrete pavers laid directly on a prepared gravel base. The installation process is straightforward, which keeps costs down.

Natural stone patios are more expensive, requiring more skilled labor to fit the individual stones. However, the end result is more unique, and the durable stones can last over 100 years with proper care. A poured concrete patio is the cheapest option but typically isn't considered as attractive as pavers or natural stone.

Pros and cons of decks vs. patios

Both decks and patios have pros and cons. Decks tend to be more expensive but offer better views, more customization, and higher resale value. Patios are generally more budget-friendly, low-maintenance, and longer-lasting.

Understanding the benefits and drawbacks of each option will help you make an informed choice that enhances your home and aligns with your lifestyle.

Deck and patio FAQs

What is the difference between a deck and a patio.

The main difference between a deck and a patio is that a deck is an elevated, off-the-ground structure, while a patio is a ground-level, hardscaped area.

Is it cheaper to build a deck or patio?

It is usually cheaper to build a patio since the ground-level construction is more straightforward. An elevated deck requires permitting to meet building codes and more materials and construction labor. The cost to install a patio can be up to 60% less than the cost to build a deck, depending on the materials you choose.

Why should I choose a deck versus a patio?

You should choose a deck if you want elevated views, design flexibility, and a better return on your investment. You should choose a patio if you have a flat yard and want a better connection to the landscape, lower upfront costs, and reduced maintenance.

Is a deck or a patio easier to care for and maintain?

Patios require less ongoing maintenance compared to decks. Patios only need occasional cleaning with a hose or pressure washer, while wooden decks require regular staining, sealing, and repairs.

Getting estimates from deck and patio installers

Before hiring a patio builder or deck builder near you , follow these tips to help you make the best decision for your home and budget:

Get estimates from at least 3 different contractors using the same materials and measurements.

Discuss the size, materials, and features of the deck or patio you want for more accurate estimates.

Consider the contractor's expertise, especially for complex or custom deck or patio designs.

Discuss any permitting or site preparation needs, including excavation or foundation work, that can significantly increase costs.

Ask about the contractor's warranty coverage and any guarantees on their work for peace of mind and to evaluate the long-term value.

Questions to ask a patio or deck builder

Ask the builder these questions to ensure you hire the best pro for the job:

Are you licensed, bonded, and insured?

How long have you been in the patio or deck business?

Can you provide references or a portfolio of past work?

Do you recommend a patio or deck in my yard?

What type of deck materials and design options do you offer?

What materials do you most often recommend for patio projects, and why?

Do you take care of the permitting process for my deck project?

What kind of warranty do you provide for your work?

Who will be the main point of contact during the project?

What is your estimated timeline for completing the project?

Can you provide a detailed breakdown of the project costs?

Using our proprietary cost database, in-depth research, and collaboration with industry experts, we deliver accurate, up-to-date pricing and insights you can trust, every time.

Fixed Capital vs Working Capital: What’s the Difference?

Understanding capital is crucial for the stability and growth of your business. Two kinds of capital that small business owners encounter are fixed capital and working capital . They’re vital for your company’s financial well-being — but the distinction between them isn’t always clear.

Let’s explore the key differences between these two types of capital and a few strategies to manage them effectively.

What’s the Difference Between Fixed Capital and Working Capital?

Fixed capital refers to long-term assets like real estate and equipment. These types of assets are a fundamental part of your business. Investing in fixed capital can help pave the way for future growth and success.

Working capital, on the other hand, includes more liquid assets such as cash and accounts receivable. It’s important for maintaining the day-to-day operations of your business. It ensures a smooth cash flow and the flexibility needed to meet your financial obligations.

What Is Fixed Capital?

In general, fixed capital represents tangible assets that are essential to the long-term operation of your business. These long-term assets may not directly generate income, but without them, your business would not be able to provide goods or services. Fixed capital is often captured as a line item on your balance sheet under “plant, property, and equipment” (PP&E).

Fixed capital investments often require careful planning. You should consider your business needs and how you plan to grow. Investing in upgraded technology, new equipment or more space can help you take your business to the next level.

Examples of fixed assets include:

• Real estate.
• Equipment and machinery.
• Company vehicles.
• Technology.
• Office furniture.

What Is Working Capital?

Essentially, working capital is the difference between your company’s current assets and current liabilities. (“Current” = one year or one accounting period.) It’s a measure of your company’s liquidity, financial health and operational efficiency. It consists of short-term assets that can be used to cover day-to-day business operations, expenses and short-term debts.

Working capital is important because it helps ensure your business has enough to meet its financial obligations. It can help maintain smooth operations and allows you to invest in new opportunities when they come up.

How to Calculate Working Capital

Calculating your net working capital is fairly simple. You simply need to subtract your current liabilities from your current assets. Keep in mind there are other working capital formulas you may want to consider, such as your working capital ratio or your working capital requirement.

Net Working Capital = Current Assets – Current liabilities

Examples of current assets can include:

• Cash or cash equivalents.
• Accounts receivable.
• Raw materials.

Examples of current liabilities can include:

• Accounts payable.
• Income taxes.
• Short-term loans.

Fixed Capital vs Working Capital

How do fixed capital and working capital impact a company’s financial health.

Fixed capital. Fixed capital plays an important part in your company’s financial health and it’s often critical to your operation. Investments in these capital assets can enhance efficiency and productivity, but they can also come with a hefty price tag. You’ll want to be sure to have an effective strategy in place to help find the balance between long-term growth and short-term liquidity.

Working capital. Adequate working capital is essential to current operations and future growth. A positive working capital ratio can show financial stability, which can be attractive to lenders and investors. Insufficient working capital can put a strain on your cash flow, affecting your ability to pay suppliers, wages and other operational expenses. Carefully managing and monitoring your current assets and liabilities can help you maintain a healthy cash flow and boost profitability.

How to Manage Fixed Capital and Working Capital

Budget. A budget can serve as your financial blueprint, enabling you to forecast revenues, plan expenditures and allocate resources effectively. Setting financial goals for your business can help you cut back on spending and optimize your investments. It can also help you make informed decisions and adjustments when unexpected expenses pop up.

Monitor your cash flow and other financial statements. Many small businesses are concerned about cash flow . Monitoring your business’s cash flow and financial statements provides a real-time snapshot of your business’s financial health. It can help ensure that you have sufficient liquidity and be prepared for cash flow gaps.

Consider an accountant. When making strategic financial decisions for your business, you may want to consider seeking professional advice. They can help you make the right business moves and help your company succeed.

DISCLAIMER: This content is for informational purposes only. Enova, OnDeck and its affiliates do not provide investment, financial, legal or tax advice.

This content is for educational and informational purposes only, and is not intended as financial, investment or legal advice.

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Rachel Reeves the chess player has an eye on the economic endgame

The shadow chancellor is often criticised for her centrist positions, but Labour’s plan for a long-term rescue is a vital difference between the parties

W hen preparing to become Labour’s chancellor in 1964, James Callaghan used to go up to Oxford for economics lessons at Nuffield College. The present shadow chancellor, Rachel Reeves, is already steeped in economic knowledge, including that of the UK’s economic history, as her recent Mais lecture at Bayes business school made clear .

I was amused by some of the pre-lecture media speculation that Reeves might express her admiration for Margaret Thatcher. On the contrary, she let it be known, in an aside not in the printed text, that distaste for Thatcherism was one of her motives for going into politics.

It is now a commonplace that the wounded chickens of Thatcherism are coming home to roost. It is a myth that Mrs Thatcher injected a new entrepreneurial dynamism into the British economy: whole sections of manufacturing industry were damaged or even destroyed by her early flirtation with what I dubbed “ sado-monetarism ”. In the end, Thatcher resorted to membership of the European single market in 1986 as a means of attracting crucial overseas investment from countries such as Japan. These valued their access to the wider European market from a safe base in the UK.

Alas, thanks to the all too successful campaign run by the egregious Nigel Farage and his predecessors, the safe base was removed by the ill-conceived referendum of 2016.

One of the many benefits of our membership of the EU was steadily tightening anti-pollution rules – which no longer apply , as the scandalous dumping of raw sewage into our rivers reminds us.

The damage resulting from the chickens of deregulation coming home to roost is all around us. The scale of the problems facing a putative Labour government is so manifest that Keir Starmer and Reeves lose no opportunity to warn that, if elected, it will take them two terms to repair the damage .

Starmer and Reeves are doing their best to shake off any echoes of Corbynism and to woo the City and big business. They are desperate not to diminish their impressive lead in the polls. Reeves’s emphasis on the importance of “fiscal rules” leads many people to wonder whether there is any significant difference between what they offer and the present government’s approach.

Well, her Mais lecture provided a welcome answer. While wanting to have strict rules about balancing current expenditure with tax receipts, Reeves recognises that investment which brings benefits in the long term does not have to be paid for in one year! The canard, promoted by too many Tory politicians, that capital expenditure must be balanced by taxation year-by-year is one of the reasons why the UK has underinvested for more than a decade, resulting in what my old friend the late Prof JK Galbraith famously described as “public squalor”.

Contrary to what the pre-Keynesian brigade still argue, public sector investment does not land future generations with the cost: it lands them with the benefits.

It is interesting that the former top civil servant at the Treasury Lord Macpherson has said that the financial constraints facing the next government may not be as severe as widely feared. He ought to know, and his qualifications for fiscal responsibility are second to none.

Reeves places great emphasis on long-term investment. This will be a necessary condition of a rescue plan for this economy. But – I knew, gentle reader, that you were waiting for this – we also need to remove the trade barriers that have increasingly been restricting growth since Brexit .

Having criticised the inhibitions on investment that have characterised the 14 years of government since 2010, Reeves added: “A rushed and ill-conceived Brexit deal has brought further disruption, with the Resolution Foundation estimating that new trade barriers are equivalent to a 13% and 21% increase in tariffs for our manufacturing and service sectors respectively, and the OBR finding that long-run GDP is expected to be 4% lower.”

So what will a Labour government do about it?

If it wins handsomely, the party can stop being so timid about the “red wall” voters who were conned into voting for Brexit. For sustained growth we need the investment and reduction in trade barriers that rejoining the EU would facilitate.

I find Lord Mandelson’s view that our former EU partners would not wish to engage with a UK request to rejoin seriously defeatist. We may be on the verge of war with Putin’s Russia. The EU needs us back.

On a lighter Easter note, I like the story, told by herself, that Reeves, a junior chess champion, once cheekily asked the great Russian grandmaster Garry Kasparov for a game. When one of her aides said it was a bad idea because she had another appointment, Kasparov apparently said: “This won’t take long.” It didn’t.

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