Episode 174- What are some of the best practices w

Welcome to the end to end ICU series where you learn how to launch your own ICU straight from the experts. So let's look at a few more things with respect to pitch decks. How much does it cost? How long will it take? What are the best practices? What's the process? What are the essential components? We've already looked at the essential components of a pitch deck. So

relevant to the point or the idea or the concept or any other text that you have on that slide with very simple text, three, four lines of text. And does it apply to most slides? Maybe not. But if you carefully sit down and think how to take fluff out of anything, that's exactly what it looks like. So if you want a good pitch deck, engage a

visual designer, there are lots of online resources, 99.99 Designs.com. www.fifuhr.com, www.upwork.com, www.freelancer.com. You can get an amazing template done and you can also send your rough pitch deck out to them with some suggestive pictures. And some of them will practically all of them. Everybody, every designer that's worth a sword will turn around amazing looking visual slides. I've done that myself before. When I wanted to get

a pitch deck done, I've looked out for designers on 99 Designs.com. I've paid maybe about $300 to get a slide deck of maybe 16 to 17 slides long. So that's the timeline. If you really sit down and write down your storyboard and put your rough thoughts together, unless you have a lot of research that you need to do, even in which case you should take no

more than a week for you to put this rough outline together. And as soon as you put this rough draft together, if you send it out to a designer, here she must be able to get it back to you max within a week's time. So end to end, we had really looking at no more than 15 days for a pitch deck. Common errors. Some of the

common errors that go into a pitch deck are adding too much text, too much detail, not really being very concise, getting language wrong, getting spelling wrong, getting grammar wrong, not having photographs of founders, not having the right structure. Where are you of those errors, not having page numbers, getting more market data wrong, fudging numbers, having wrong numbers, those sorts of things. Remember, like we've discussed before,

it has to be concise, it has to be simple, it also has to be a true reflection of where your business is at and where you're going. Make sure you pay attention to all of these and then you will have a great stunning looking error-free pitch deck. Let's take a look at the details. Take a look at some of the best practices, some of the best

practices, which we've already discussed in some form of fashion, make the pitch deck simple. Another big best practice is not to use jargon. Now we know we are dealing with the crypto world, so some amount of jargon has to creep in, right? Not quite. If you're a friend of mine used to say, if you're able to explain your business concept to a grandma or if you

work with kids to a fifth grader, we know there's a show called I Use Marta than a fifth grader where adults appear to be much more number than the fifth grader. We are not talking about those sorts of fifth graders. What we are essentially talking about are middle school kids who possibly may not understand what we are talking about. So, if you're a friend of mine,

something really complex should be able to get your concept in a jeepy. So, your grandma or your fifth grader, so that's one best practice. So, if it has to be simple, it has to be concise. Remember what Einstein said. It takes genius to achieve simplicity. Normal people create complexity, right? And if you were to go into the heart of this, why do we insist that something

be simple and be understood by a grandma? Because if an obscure grandma can understand your concept and pony up a few hundred dollars to invest in your concept, if you were looking for investments from folks like those, then your investment is a hit. Think about all those guys that you know from around you, who were possibly not as smart, which is very ordinary people who did

not understand Bitcoin, cryptocurrencies four or five years ago, and all of them are thinking of it. So, investing in a cryptocurrency or some sort of a crypto issue, that's the power of simplicity. They understand a few things. Well, a lot of them haven't done build diligence. They are speculative too. We are not talking about folks like those. We are talking about people who get these concept

simple. So, best practices, keep it simple. Keep it concise. Keep it free of jargon. You may be the only person that understands that term. And maybe just a handful of people from the crypto community, but you'll still find a lot of benefit not putting any sort of complex terms or complex jargon. If you need to put it in, make every effort to actually simplify them and

make someone that's perhaps not from that space, understand it. So, those are some best practices. We've also discussed some other best practices. Keep the presentation shot. Keep make sure all numbers in there can be referenced, can be cross check, can be verified. Let it be a true and accurate reflection of your business and your idea. Subscribe at www.cryptonites.io That's C-R-Y-P-T-O-K-N-I-G-H-T-S.io.