The complete pitch deck checklist VCs actually use
The same 3 slides that kill every pitch deck
Last Friday, I was invited by my friend Melih to join the jury at Pitch Challenge Istanbul. My role was simple: watch founders pitch, then give feedback after each presentation.
I’ve done this before, even with the chance to review some decks in advance. One thing always strikes me: the first startups to present set the tone. As a judge, you inevitably compare each one to the last. But the real evaluation only happens once you’ve seen enough pitches to spot the patterns.
And the patterns I saw that day? Painful.
By the time I watched pitch number 25 (out of 59!), I realized I had to leave—not because I wasn’t interested, but because the same mistakes were being repeated again and again. That’s when I knew I needed to write this piece and create a simple checklist for founders.
What I Noticed
I assumed by 2025 that basic pitch training was no longer a problem. But watching those pitches proved me wrong.
Founders are still overloading slides with jargon.
Decks still talk more about features than problems.
Too many visions of “changing the world” without a clear path to traction.
The result? Startups get rejected—not because they’re bad founders, but because their decks fail in the first 3 seconds.
Investors decide quickly:
3 seconds → Do I get what you do?
30 seconds → Do I believe it matters?
3 minutes → Do I want to learn more?
Most startups never make it past second one.
Why Decks Matter More Than You Think
A pitch deck isn’t just a formality. It’s not even about getting investment directly. Think of it as your ticket to the game. If your deck doesn’t reach a certain standard, you’re not even allowed to play.
I’m not claiming to be the world’s best investor. I’ve made plenty of mistakes myself. But one thing I know for sure: some startups are rejected instantly, and the reason is usually obvious—bad slides, unclear language, missing evidence.
My Takeaway
That’s why I put together The $0 Billion Pitch Deck Checklist. It’s not rocket science. It’s a simple tool every founder can use before hitting “send” on their deck.
Because the truth is:
Investors don’t invest in slides.
They invest in clarity, traction, and confidence.
Your deck only gets you in the door. Your business keeps you there.
SLIDE 1: COVER
The Hook Test ✓
☐ Company name and logo visible
☐ One-line value prop includes WHO you help
☐ One-line value prop includes WHAT you do
☐ One-line value prop includes HOW you do it
☐ Contact email visible
☐ Website URL visible
☐ Can be understood in 3 seconds
☐ NO buzzwords or jargon
☐ Would pass the "elevator pitch" test
SLIDE 2: PROBLEM
The Pain Test ✓
☐ Specific customer segment identified (not "everyone")
☐ Exact cost of problem stated in dollars
☐ Frequency of problem occurrence stated
☐ Supporting data/statistics included
☐ Source and date for all statistics
☐ Problem feels urgent and painful
☐ NO vague statements like "industry is broken"
☐ Investor can empathize with the pain
SLIDE 3: SOLUTION
The Clarity Test ✓
☐ Solution explained in one simple sentence
☐ 3-5 step process showing how it works
☐ Before state clearly defined
☐ After state with measurable improvement
☐ NO technical jargon or buzzwords
☐ 12-year-old could explain it
☐ Clear connection to problem stated
☐ Outcome-focused, not feature-focused
SLIDE 4: WHY NOW?
The Timing Test ✓
☐ External market shift identified (regulation/technology/behavior)
☐ Specific date or timeframe provided
☐ Source cited for timing claim
☐ 12-24 month window of opportunity stated
☐ Explains why solution wasn't possible before
☐ Explains why waiting would be too late
☐ Creates sense of urgency
☐ Can be verified independently
SLIDE 5: PRODUCT DEMO
The Show Test ✓
☐ Real screenshots (not mockups)
☐ Actual user interface shown
☐ Key workflow demonstrated (3-5 steps)
☐ Before state shown
☐ After state shown
☐ Results/outcomes visible
☐ Looks like working product
☐ NO architecture diagrams or tech stack
SLIDE 6: MARKET SIZE
The Math Test ✓
☐ Bottom-up calculation shown;
☐ Number of target customers stated
☐ Price per customer stated
☐ Calculation: Customers × Price × Time
☐ Show a small, winnable SAM (<$1B for seed) with clear bottom-up math
☐ Expansion opportunities mentioned
☐ NO top-down TAM calculations
☐ Math can be verified
SLIDE 7: BUSINESS MODEL
The Unit Economics Test ✓
☐ Who pays clearly stated
☐ How much they pay stated
☐ Payment frequency stated (monthly/annual)
☐ Customer Acquisition Cost (CAC) stated
☐ Customer Lifetime Value (LTV) stated
☐ LTV:CAC ratio > 3:1
☐ Gross margin percentage stated
☐ Payback period stated
SLIDE 8: TRACTION
The Evidence Test ✓
☐ Number of customers stated
☐ Monthly Recurring Revenue (MRR) stated
☐ Growth rate (MoM or YoY) stated
☐ Retention/churn rate stated
☐ One clear chart showing growth
☐ Trend line going up and to the right
☐ If no traction yet → show early signals
☐ NO vanity metrics (signups, downloads)
☐ NO fake traction (LOIs, pilot programs, press)
SLIDE 9: COMPETITION
The Positioning Test ✓
☐ 2-3 actual competitors named
☐ Specific differentiator for each competitor
☐ Differentiators are measurable (not "better")
☐ Explains why customers care about difference
☐ Shows understanding of market landscape
☐ NO "we have no competition"
☐ NO "we're better at everything"
☐ Honest about competitor strengths
SLIDE 10: GO-TO-MARKET
The Channel Test ✓
☐ Primary distribution channel identified
☐ Customer acquisition cost stated
☐ Sales cycle length stated
☐ Early results/pilots mentioned
☐ Specific tactics outlined (not "viral growth")
☐ Shows repeatable process
☐ Matches market and customer type
☐ Has evidence it's working
SLIDE 11: TEAM
The Founder-Market Fit Test ✓
☐ Only key team members shown (2-4 people)
☐ Relevant past experience highlighted
☐ Specific achievements with metrics
☐ Connection to this problem shown
☐ Technical capability demonstrated
☐ Sales/business capability demonstrated
☐ NO generic titles like "serial entrepreneur"
☐ NO advisory board unless truly active
SLIDE 12: FINANCIAL PROJECTIONS
The Reality Test ✓
☐ 12 month projection only
☐ Monthly breakdown for first 12 months
☐ Current metrics as starting point
☐ Month-by-month progression shown
☐ Key assumptions listed
☐ Growth rate believable for your stage and market
☐ Matches go-to-market strategy
☐ Shows how today's metrics + this raise → next round readiness
☐ Path to breakeven/profitability shown (if relevant)
☐ Matches go-to-market strategy and unit economics
☐ Shows how funding extends runway to next milestone
☐ NO hockey stick graphs
☐ Break-even point clearly identified
SLIDE 13: THE ASK
The Use of Funds Test ✓
☐ Exact amount requested
☐ Specific use of funds breakdown
☐ Number of hires and roles specified
☐ Marketing budget allocated
☐ Operational costs outlined
☐ Runway stated in months
☐ Clear milestone to achieve
☐ $ ask → hires → milestones → next round readiness
☐ Milestone matches amount raised
FINAL QUALITY CHECKS
Overall Deck ✓
☐ 10-13 slides maximum (cut ruthlessly if over)
☐ Consistent design/formatting
☐ No typos or grammatical errors
☐ All numbers have sources
☐ All claims can be verified
☐ Tells coherent story
☐ Each slide passes its test
☐ Deck tested with 1-2 outsiders (do they get it in 30 seconds?)
The Ultimate Test ✓
☐ Can someone explain your business in 30 seconds?
☐ Does every number have proof?
☐ Would YOU invest based on this deck?
☐ Have you removed all adjectives and buzzwords?
☐ Is everything specific and measurable?
Red Flag Scan ✗
☒ "Revolutionary/disruptive" claims
☒ "Uber for X" comparisons
☒ Unsubstantiated projections
☒ Team slides with 10+ advisors
☒ Press logos as traction
☒ "Viral growth" without evidence
☒ "AI/blockchain" without clear use case
☒ Financial projections over 18 months
☒ Top-down TAM calculations without bottom-up validation
☒ Market size without addressable market breakdown
The Uncomfortable Truth
Scoring pitches is theater. Points don't matter. What matters is whether an investor will take the next meeting.
Your beautifully designed 30-page deck? Investors spend 3 minutes on average. Most never make it past slide 3.
This checklist won't make you fundable. But it will stop you from being instantly rejected.
The Pitch Competition Trap: Why We Stopped Running Them
We used to run pitch competitions constantly for more than 10 years. The energy was electric. Founders loved them. Audiences packed the room. Everyone left feeling inspired.
We were wasting everyone's time.
Here's what took me too long to realize: Pitch competitions are theater, not business.
The Uncomfortable Reality
After running dozens of these events, the pattern became clear:
What Actually Happens:
Founders optimize for judges, not customers
The "winner" gets social media congratulations
Everyone puts "Winner of XYZ Pitch Competition" in their deck
Zero correlation with actual funding success
What Should Happen:
Founders practice explaining their business clearly
They learn to handle tough questions
They get comfortable with public speaking
They test if their message resonates
The problem? You can achieve the second list without the first.
The Validation Illusion
The worst damage from pitch competitions is this: Founders think winning means validation.
It doesn't.
I've seen competition winners add their trophy to their traction slide—right next to "Featured in TechCrunch" and "10K newsletter signups."
Investors see this and know immediately: You have no real traction.
Validation comes from exactly one source: customers paying money.
Not judges giving scores
Not audiences clapping
Not accelerators selecting you
Customer. Revenue. Period.
When Competitions Actually Work
Pitch competitions aren't completely worthless. They're practice rounds. Training simulations. Nothing more.
Use them to:
Test if strangers understand your business
Practice handling hostile questions
Build speaking confidence
Network with other founders
Never use them to:
Validate your business model
Prove market demand
Impress investors
Replace actual customer development
My Recommendation
Stop calling them competitions. Call them "Pitch Practice Sessions."
Remove the prizes. Remove the winners. Remove the scoring.
Instead:
Founders present
Everyone gets harsh, honest feedback
They revise and present again
Repeat until the pitch actually works
The goal isn't to win. It's to stop losing when it actually matters.
The brutal truth: Your competition trophy is worth exactly what an investor will pay for it: $0.
Focus on the only competition that matters—getting customers before you run out of money.
Closing Thoughts from the Jury Table
I’m not the world’s best investor—many of my own bets haven’t worked out. But I’ve seen one truth play out again and again: some startups are rejected instantly, and it’s almost always because of the deck.
Sunshine and compliments don’t raise money. Clarity, evidence, and readiness do.
So here’s my advice, founder to founder: Every slide is a test. Pass them all—or pass on funding.
Nice one!
Brilliant framework Burak - I simply love your content ✨