Introduction:
NOQX, a Stockholm-based startup, recently secured a $200,000 pre-seed round to support its mission of assisting companies in improving their goal-setting and collaboration processes. Founded in 2023, NOQX was established by a team that felt frustrated by the lack of effective goal management tools for businesses. This article provides an in-depth analysis of NOQX’s pitch deck, highlighting its strengths and areas for improvement.
Three Problem Slides:
The pitch deck begins with three slides addressing the problem NOQX aims to solve. However, multiple slides dedicated to the same issue can be repetitive and fail to captivate investors. Instead, a single punchy slide with a stark headline, such as “70% of companies are failing to achieve their goals,” would have been more effective. This approach would have allowed NOQX to emphasize the dire consequences of this problem and highlight the potential for profit and scalability that their solution offers.
Three Solution Slides:
Similarly, the pitch deck includes three slides outlining NOQX’s solutions. To improve clarity, it is advisable to separate the solution, value proposition, and product slides. The solution slide should clearly articulate how NOQX’s product or service addresses the identified problem and why it is superior to existing alternatives. The value proposition slide should highlight the unique benefits and advantages that differentiate NOQX from its competitors. Finally, the product slide should provide specific details and functionalities that showcase the value customers can derive from using NOQX’s platform.
Timeline Slide:
The timeline slide in NOQX’s deck fails to effectively communicate its value to investors. While it may work well in a sales deck, it is not essential in an investor pitch. Instead, NOQX could have focused on highlighting the company’s value proposition and explaining how its solution addresses market needs.
Traction Slide:
NOQX’s traction slide lacks key information and fails to present the company’s accomplishments and milestones achieved to date. It should have included charts and graphs demonstrating solid and accelerating growth. Additionally, it would have been helpful to outline specific time goals for future milestones and clarify the steps needed to reach them. Simply stating “smart investors” and “repeatable sales process” is not enough to convince investors. They want to know how NOQX plans to attract investors and establish successful sales processes.
Why Now Slide:
The “Why now?” slide in NOQX’s pitch deck falls short in creating a sense of urgency. While it provides a good start, it lacks insights and thought leadership. NOQX could have explained the impact of evolving organizational structures, changing meeting dynamics, and the significance of goal setting and cadence. By adding more specific and compelling information, NOQX could have generated a sense of fear of missing out (FOMO) among potential investors.
Team Slide:
The team slide in NOQX’s pitch deck is cluttered with too much text and lacks relevant context. It is essential to provide specific details about team members’ relevant experience and why it is valuable for building the company. Additionally, including links to LinkedIn profiles would facilitate investor research and save time. The team slide should focus on showcasing the founding team’s ability to build a solid team rather than providing individual team member details at this stage.
Vague Presentation:
Overall, NOQX’s pitch deck lacks specificity, which raises concerns for investors. It is important for a startup to clearly articulate its goals, strategies, and market understanding. NOQX’s go-to-market slide, for instance, is too generic and fails to address key investor questions about customer acquisition, conversion rates, and retention strategies. Investors need a comprehensive understanding of the company’s competitive landscape, business model, and customer acquisition strategies before making investment decisions.
Conclusion:
While NOQX’s pitch deck demonstrates bold design choices, it falls short in terms of clarity and specificity. By streamlining the problem and solution slides, presenting clear milestones, improving the team slide, and providing more specific insights and thought leadership, NOQX can enhance its pitch deck and increase its chances of securing future funding. A pitch deck should not only be visually appealing but also substantiate the company’s value proposition and potential for success.