Sebastian Diemer is the Co-Founder and Chief Executive Officer of Kreditech. Kreditech is a digital bank which is the market leader in big data scoring and online lending. We had the privilege of interviewing Sebastian to find out his thoughts on pitching:
Q: Describe your very first pitch deck? Did you create it on your own?
A: First pitch deck ever was terrible, it was 30 slides with detailed information that nobody cares about. No story, no emotions, no numbers. After reading this principle, my pitch decks became exponentially better: http://guykawasaki. com/the 102030 rule/
Q: Did you send blind pitch decks to VCs (without an intro)? How successful was your deck at impressing them before a face to face?
A: No, never sent a pitch deck cold. Driving through Berlin with a megaphone has a higher chance of bringing investors in. Don't know a single VC who has ever invested in a pitch deck that came in through contact form.
Q: What are your tips for "must have content to include in a pitch deck?
A: Problem, Solution, Secret Magic /unfair advantage, Market, Unit Economics, Team. That's it.
Q: As an investor, what is the first thing that attracts you to a pitch?
A: Understanding the case in 30 seconds.
Q: When you look at decks, is content king or does design also play a major role in your mood when judging potential deals?
A: Not so much the design but the UX - how intuitive and flowing has content been arranged. Design plays a more subconscious role.
Q: How can startups create pitch decks that stand out from the pile?
A: Shorter and crisper is better. Ideally tease with a one pager and send 10 slides when interested. Then excel unit economics / business plan.
Q: How did you sell your idea as an entrepreneur? How can someone sell their idea to you as an investor?
A: Tell me a story. A crisp, exciting one.