I think that pretty much summarizes my article. But let’s chit-chat more. I feel like you have a few minutes to spare.
Clients ask me to create pitch decks for their startups in order to raise investments. I go through a heck of a process because I kind of take this seriously. It’s not really about them. It’s about my love for entrepreneurship. I want to storyboard, write, and design a beautiful pitch deck.
Usually, I start off by proposing a structure. It’s my area of expertise anyway. After a week or two, we’re talking about the market size slide.
Airbnb did something a long time ago. They created a slide showing the TAM (total addressable market), SAM (Serviceable Addressable Market), and SOM (Serviceable Obtainable Market). This was brilliant because it showcases how much money is in your market in specific.
It makes it easier for the investor to assess how much money you could be making. So as per any good structure, many startups followed it. But the problem is, too many startups did that. The catastrophe though, is that they always find the answer they’re looking for.
I just did that this morning — I was wondering whether black tea is healthier than green tea for me in the morning. The internet says, “Yes!”
Then I enjoy my black tea in peace. Stupid green tea just sitting in the corner. No problem there, right? But you know how it is, if I had asked Google if green tea is healthier for my morning routine, Google would’ve said, “Yes!”
The SEO game made everyone want to be on top of the search results. How do you get on top of the search results? By giving the searcher what they want. I have no clue which tea is better. I actually don’t care at that stage. They’re both teas.
But when I see that the floppy disk industry is growing annually by 12%, I won’t believe the next startup that tells me that its market size is growing.
So when the clients start creating the market size slide of their pitch deck, they find quite a credible source that tells them that their blockchain market size is forecasted to grow by 33% annually. It sounds logical but it’s far from credible. Do you know what’s credible? Acknowledged purchases.
