Green Flags/ Red Flags in Pitch Decks, slide by slide

1. Intro Slide
Succinct Elevator Statement “When I don’t understand
explaining the business model, what the business does in the
target audience, and USP e.g. first 10 seconds, I switch off.”
- Seed/ Series A stage UK based VC
“Female led London-based B2B PropTech
putting the mortgages on blockchain.
Revenue generating in June this year
(contracts signed), raising $1m Seed”

Attention-grabbing visual or Too much text/ information

statistic + professional design overload
and branding

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 Green Flags/ Red Flags in Pitch Decks, slide by slide
2. Problem
Clearly articulates a real, urgent
and sizeable problem with
facts, figures, statistics, and
quotes from credible sources.
Uses storytelling and examples
to make the problem relatable.
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Too many slides describing
the Problem/ too much text
overall. Too many Problems
(signals no laser focus on the
core issue)
Problem seems minor, niche
or already solved. No data or
evidence that the problem
actually exists. Unclear
problem statement.
 Green Flags/ Red Flags in Pitch Decks, slide by slide
3. Solution
Strategically used screenshots
of UI/ Product to show the main
Value Prop. Presents a unique
and innovative solution.
Solution addresses the
Problem identified accurately.
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“Whilst for some companies
it’s applicable, hearing ‘we are
the Airbnb of… / Uber of…’
has become so tiring.”
- Pre Seed stage London based investor
Solution isn't clearly
differentiated or innovative.
 Green Flags/ Red Flags in Pitch Decks, slide by slide

4. Market Size

SOM > $100m and a bottom-up Top-down analysis, outsized

analysis of realistic market numbers, lack of credible
segments capture. sources of information.

Demonstrates a large and Over-reliance on periodical/

growing market opportunity. seasonal trends or hype.
Identifies target market
segments.

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 Green Flags/ Red Flags in Pitch Decks, slide by slide

5. The Opportunity (“Why Now”)

A focused explanation of “Why Unclear why this team/

Now” makes sense, factoring in company will win versus
key external and internal factors. others. Not showing path to
unfair advantage.

Highlights why the company is Doesn't explain why the

well-positioned to capture timing and opportunity are
the opportunity. ripe now.

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 Green Flags/ Red Flags in Pitch Decks, slide by slide
6. Competition
Comprehensive analysis of the
competitive landscape,
distinguishing between Direct/
Indirect Competitors
Slide built out to a fuller
‘Landscape Mapping’,
including Coopetition,
Partnerships, Suppliers, etc...
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“Green ticks next to all the
product functionalities, but,
many of them are actually
not yet even developed”
- Seed stage London B2C VC
Claiming “We have no
competition” or
underestimating competition.
 Green Flags/ Red Flags in Pitch Decks, slide by slide
7. Competitive Advantage
Advantages are defensible and
based on unique technology, IP,
expertise, partnerships, etc.
Presents barriers to entry for
potential competitors and
does not go against big
players in the market (rather,
complements them)
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“Points on competitive
advantage that are actually
easily replicable, too generic
or just not strong”
- Pre Seed/ Seed stage Angel Investor
Underestimating threat of
new entrants. Going against a
dominant player in the
market (“We’re like Tik Tok,
but done better”)
 Green Flags/ Red Flags in Pitch Decks, slide by slide

8. Business Model

Clear and concise explanation of Pricing seems arbitrary or

how the company will make misaligned with market
money. rates. Complex/ convoluted
model that is hard to
understand.

Scalable model that isn't Easily replicated business

constrained by labor, model with low barriers to
geography, regulations, etc. entry.

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 Green Flags/ Red Flags in Pitch Decks, slide by slide
9. Go-To-Market
Go To Market timeline that
outlines how will you acquire
first 1000 users (B2C) / first 10
paying clients (B2B), split into
different channels
(Partnerships/ Word of Mouth/
Digital Marketing/ Direct Email
etc) and stating how many users/
clients will come from each
channel, at what CAC, and to
what LTV.
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Over-reliance on a
single GTM channel.
Long CAC Payback
Periods (>12 months).
Unclear or missing GTM
strategy. Unrealistic
assumptions. Lacks focus.
Tries to target too many
segments at once.
 Green Flags/ Red Flags in Pitch Decks, slide by slide

10. Financial Projections

Maximum 3 revenue streams + “...outsized and irregular

3 upsells in the first 3 years
(since inception)
Disciplined approach to
burn rate and runway.
Attractive unit economics and
a clear path to profitability,
supported with the GTM
strategy.
jumps YoY, that a founder
cannot justify, are a red flag”
- Seed stage US-based Angel Investor
Projections appear overly
aggressive or "hockey stick".
Unsustainable unit
economics. Too confident.

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 Green Flags/ Red Flags in Pitch Decks, slide by slide

11. Traction
Demonstrates product-market Vanity metrics that don't
fit and demand for the solution. show real business progress.

Includes logos of key customers Missing Traction slide (very

or partnerships. common at Pre Seed pre
launch, YET, there are still
traction points there that can
Shows strong early traction with be shown!)
key metrics (revenue, users, sign
ups on waitlist, growth rate,
progress in discussions, etc.)

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 Green Flags/ Red Flags in Pitch Decks, slide by slide

12. Future Roadmap

Clear timeline of future activities “I don’t like the future

quantified into measurable roadmap slides if they are
milestones (e.g. 1st paying client too generic. Looks more like
LTV ~$20k, +2 Team Members ) wishful thinking”
- Seed stage UK-based VC

Shows additional Overly focused on short-term

opportunities for expansion. without long-term vision.
Can mention a potential Exit Future growth not large
in the future. enough to deliver the returns
VCs are seeking.

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 Green Flags/ Red Flags in Pitch Decks, slide by slide

13. Team
BAE bios: stating Backgrounds, Team bios missing, too
main Achievements, and short, or not convincing.
Experience.
Founding team has relevant
domain expertise and track
record (Founder-Market Fit)
Team lacks relevant
experience or skills.
Team is well-rounded with
complementary skill sets. Key
advisors and investors add
credibility.

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 Green Flags/ Red Flags in Pitch Decks, slide by slide
14. Investment Ask
Funding ask is appropriate for
current stage and clear
milestones given that the funding
will unlock.
Clearly states amount of
funding sought and use of
proceeds. High % Use of
Funds going to growth-value-
add activities e.g. Sales, BDM,
Marketing.
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Overinflated valuations (or
no valuation at all). Lack of
clarity around how much
you’re raising.
Overdiluted Founders (or
‘broken cap table’)
Disproportionately high Use
Of Funds going to Ops
Expenses/ Overheads.
Raising to repay debt or
loans.
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