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Understanding Competition Slides
Competition slides can be a key part of your deck if done correctly. Unfortunately, for the vast majority of decks, they are just one of the many “mandatory” slides that founders shove in without much real thought or care just to give investors the information they think they want.
If you want to level up your deck instantly here is some advice that you can apply today and have a better deck in the next 30mins…
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Improving your Competitions Slide
Make your value proposition clear - When you start a new business, there needs to be one thing you are doing differently from incumbents that you believe will set you apart. Your competition slide is a place where you can differentiate your value proposition by showing investors exactly how you are different from competitors and why that will attract customers.
Prove demand - A market with many competitors is a market with many customers. Don’t be afraid of admitting that you have competitors. In fact, many investors will get concerned if you claim to have none! Use this as a way to show that there are lots of people who want a product/service like yours.
Key decision-making factors - Even customer group has a few key decision-making factors that they use to determine what product they will buy. For example the key factors in buying a smartphone are price, camera, network, ports, operating system. If you can show investors that you know these key decision-making factors and then compare/contrast how you perform vs competitors, you will give them the confidence that you can survive in this market.
Do you have a persuasive competition slide? |
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