5+ Ways to Raise Money for a Business Without a Pitch Deck
Last Updated on December 18, 2022 by Selina Parker
Most entrepreneurs and small business owners are under the impression that they can only raise capital by creating a pitch deck. It is probably the most common method of raising money, but it is also the most difficult.
Pitch decks are not easy to create and take time away from running your business. Instead of going through the troubles of creating a pitch deck to raise capital to fund your business growth and turn your business ideas into reality, you can raise money in other ways.
This article will discuss five different methods to grow your company and get capital without writing a lengthy pitch deck.
How Important are Pitch Decks?
In recent years, pitch decks have become inextricably linked to capital raising in emerging companies. A company borrows money from investors by creating pitch decks. But the need for this is not limited to obtaining external financing only. Besides serving as blueprints for focusing teams, they are used for internal planning, attracting cofounders, investors, and key employees.
If you are an entrepreneur, you will probably get asked “send me your deck” in any serious discussion, significantly when raising money.
Is It Possible to Raise Money Without a Pitch Deck?
Without the full pitch deck presentation, aspiring entrepreneurs and seasoned serial founders have raised funds.
A startup business owner can send out an email about their company or ideas instead, even missing crucial details like projected revenue numbers and how much funding they need.
Types of Fundraising that Need Pitch Deck
The most common way to get startup money is through venture capital groups. It is how most successful companies and most prominent tech companies today get their start.
Getting funding from venture capital firms is not an easy process and requires a lot of convincing for them to invest capital into your growing business.
For a small business, crafting an excellent pitch deck for venture capitalists is essential because it can make or break how interested they are in what your company does.
Angel groups are collaborations of investors working together. Combined, they can help startups identify and vet potential investment opportunities. Other angel investors give start-ups access to more significant check amounts and networks that are often beyond the reach of one-person angels.
It is unlikely that they will fund small businesses without a pitch deck due to their members’ responsibilities and the need for organization.
Corporate Strategic Investors
Strategic corporate investors are on the rise in today’s startup ecosystem. They can be beneficial as early partners for startups with an enterprise focus, providing a lot of help and resources during the development stage and distribution.
Again, you will need a pitch deck to get funding successfully.
How to Raise Money for a Business Without a Pitch Deck
All types of loans like small business loans, bank loans, and equity financing are good ways to raise funds. Many banks will lend capital for business or personal use without a pitch deck and will even write up the agreement for you.
To complete a loan application, you need legal documents like a solid business plan, bank statement, and profit and loss statement for the bank to feel comfortable loaning you money.
Small Business Administration
You can seek government programs to raise money for your business. Consider applying for SBA funds, but keep in mind that they are very competitive. Another way for a firm to receive funding from the government is to apply for a grant.
Many companies and individuals choose crowdfunding as an easy way to secure the funds they need for their product development and launch. Crowdfunding sites such as Kickstarter allow entrepreneurs with promising ideas to raise money by offering rewards to those who contribute.
It is an excellent way to avoid writing a pitch deck, but you will need campaign material so that backers understand how they can help and how you will use their funds.
Connecting with individual investors can be a great way to get capital without writing up a pitch deck.
It takes time and effort to cultivate and strengthen those relationships and trust. They could include angel investors or individual amateur investors. You may find that much of their investment decision is determined by how they believe in you.
Having an equity partner or cofounders not just for their skills or how much money they have, but how well their vision aligns with yours.
Many startups find it beneficial to give up a share of equity in their company for the right co-founder or early hire who has experience and connections to help them grow. You can do it without writing a pitch deck because you are not seeking outside funding from this individual.
Customers can be your strategic partners in raising more money for your business. You can sell to your customers without writing a pitch deck and let those sales generate revenue.
Every transaction validates your business ambition and notion. Your company doesn’t have to give up ownership or management, nor do you shoulder the burden of monthly debt service and interest payments.
Friends and Family
It is the easiest route to get funding for your business without a pitch deck. Your friends and family are familiar with your strengths and weaknesses, how passionate you are about the business idea, and how hardworking you are.
They may not be professional investors, but they understand what it takes to make a company grow from its infancy stages to success.
They want to see that happen for you because they believe in your potential. Many entrepreneurs have successfully raised money for their businesses through this technique.
Raising money is never easy for new businesses. But with these methods, you can avoid writing a pitch deck and save the time, effort, and energy that goes into creating one.
Remember to be patient, persistent, and focused on how you can improve your business idea and how you communicate it.
Need more strategies to raise capital for your business? Check out The Fully Funded Method now. You can also get the TFFM manual for free to get started.
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ABOUT THE AUTHOR
“What began as a life and career coaching services company to aide entrepreneurs through the early-stage challenges and tough transformations of starting a social venture has evolved over the years to include mergers and acquisitions, organizational consulting, and business growth advisory services to mission-driven organizations that strive to improve access to basic physiological, safety, and security needs while increasing their profit margin. Clients include founders and organizations with the purpose of addressing deficiencies in delivering quality healthcare and mental health services, sufficient employment, access to clean water and air, safe shelter, adequate food, and more.”