The modern startup world is brimming with ideas. Every founder dreams of standing in front of a room full of investors, presenting the perfect pitch deck that sparks the interest of a venture capitalist. But beyond flashy slides and buzzwords, what truly captures an investor’s attention? We sat down with Gagan Singh, an expert in venture capital and CEO of Wows Global, to break down the secrets behind what makes a pitch deck stand out — and why most of them fail.

The Team Behind the Idea

Investors often speak about “betting on the jockey, not the horse,” and Gagan reiterates this in no uncertain terms. Especially for pre-seed companies, the most critical element is the team’s expertise.

“It starts with the founders,” Gagan explains. “If you’re solving a fintech problem, you better have experience in that space — whether that’s remittance, payments, or institutional systems like PayPal. A solid team can pivot, learn, and execute. A team without the right background will struggle.”

Investors aren’t looking for generalists but rather specialists — people with the kind of deep, insider knowledge that allows them to navigate an industry’s complexities. For instance, if a team is developing an AI solution but has a background in e-commerce, that’s a red flag. Gagan warns that without the right expertise, “you’re going to face uphill battles.”

Problem, Not Solution

Ironically, despite the importance placed on innovation, the solution a startup is offering isn’t always front and center during early-stage evaluations.

“At the pre-seed stage, the solution itself is less important unless it’s something groundbreaking, like curing cancer,” Gagan quips. What matters far more is whether the startup is tackling a big enough problem. “I want to know if the problem you’re solving is significant,” he explains.

At its core, a successful startup addresses a real pain point for a large enough market. The problem needs to resonate, not just with investors, but more importantly, with the target customers.

Traction: The Golden Ticket

If the team is the vehicle and the problem is the destination, traction is the engine driving the car. It’s the indisputable proof that the market is responding to your solution. “Traction is key. You can have zero experience, but if your company is growing 20% month-on-month, investors will jump on board,” Gagan says.

He cites the example of Ritesh Agarwal, the founder of OYO Rooms, who had no significant experience before launching his startup. Yet, his ability to scale and capture market attention attracted substantial investment, including backing from SoftBank. The same was true for Adam Neumann, who despite lacking a stellar resume, rapidly gained traction with WeWork.

For Series A funding, Gagan emphasizes the importance of demonstrating strong traction: “At this point, I’m less interested in the team and more focused on whether you’ve scaled and how fast.”

A Sharp Deck Reflects a Sharp Team

Beyond the content, the polish of a deck speaks volumes about a startup’s professionalism. According to Gagan, it’s often an overlooked detail, but a messy deck filled with spelling errors or inconsistent formatting immediately sets off alarm bells. “If you can’t get your deck right, how will you build a fully functional product?” he asks rhetorically.

Crafting a pitch deck is no small task — it is often the first impression a startup gives to potential investors, and attention to detail here reflects broader organizational competence.

The Perils of Valuation Miscalculations

Market size estimations, commonly known as TAM (Total Addressable Market), SAM (Serviceable Addressable Market), and SOM (Serviceable Obtainable Market), are another area where founders often misstep. Gagan has seen countless startups overestimate their market size. “If you’re building a hotel booking app and claim that your TAM includes the entire travel industry, flights and all, you’re way off,” he says, citing a common mistake.

Founders need to be laser-focused on their specific segment of the market. Gagan stresses that an accurate understanding of TAM, SAM, and SOM is a signal to investors that founders have done their homework. “Misunderstanding your market size is a big turnoff for investors,” he notes.

Second-Time Founders vs. First-Time Founders

There’s a distinct difference between how first-time founders and second-time founders approach building a business. “First-timers want to build the perfect product and then figure out how to sell it. Second-timers? They’re all about revenue from day one,” Gagan observes.

Second-time founders are more pragmatic. They understand that selling early — even if the product isn’t perfect — creates valuable feedback loops and shows investors that customers are willing to pay. This experience and focus on monetization make second-time founders more attractive to investors.

In contrast, first-timers often fall into the trap of perfectionism, burning through cash in hopes that a flawless product will naturally attract users. “It never happens,” Gagan says with a smile. “That’s where second-time founders have the upper hand.”

Avoiding Common Red Flags

While there’s no single formula for a perfect pitch deck, Gagan highlighted a few red flags that can quickly derail a startup’s chances:

• Too many advisors: “One or two is fine, but when I see seven advisors on a pre-seed deck, I know the founder is spreading themselves too thin,” he says. “Too many cooks spoil the broth.”
• Overlapping skills among co-founders: Startups should aim for complementary skill sets. Two business people without a technical co-founder? That’s a no-go.
• Burning cash without results: Gagan recalls startups that have raised millions but still have little to show for it. “If you’ve raised $2 million and your product still isn’t up to scratch, that’s a problem.”
• Delusions about competition: Many founders underestimate their competitors, assuming that their product’s small differentiations make them unique. “But from a consumer’s perspective, they’re not analyzing features. They’re comparing overall value propositions.”

Due Diligence: More Than Just Numbers

Gagan reminds us that due diligence is about much more than just financials. For early-stage startups, it’s about validating the founders. “We’ll check degrees, previous job roles, and even LinkedIn profiles to verify the team’s background. If they have customer data, we want to talk to those customers — even if they’re not paying yet,” he explains.

The Emotional Side of Investment

Fundraising, at its core, is an emotional process. For a founder, the pitch needs to create momentum, excitement, and trust. “Investors have short attention spans,” Gagan points out. “As a founder, you’re expected to pitch your business well. Practice your pitch dozens of times.”

Once the momentum is there, timing is everything. “Make sure your due diligence room is ready before you start pitching. Don’t take two months to respond to investor requests. By then, they’ve moved on.”

Final Words: Bootstrapping Isn’t a Dirty Word

Gagan’s final advice is grounded in pragmatism. While venture capital is the dream for many, it’s not the only path to success. “Some of the most successful businesses were bootstrapped,” he says, citing an HR tech startup that hit $17 million in revenue without raising a single dollar in outside capital.

In a landscape where excess funding can be as dangerous as too little, Gagan’s wisdom is clear: Focus on revenue, understand your market, and get your traction early. The rest will follow.

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Gagan Singh is the CEO of WOWS Global, a fintech platform that connects promising startups with investors, facilitating both primary and secondary transactions. A Chartered Accountant by qualification, Gagan began his career in corporate finance with UK-based Vedanta Resources before moving to Southeast Asia to work with Polyplex.

He later became a Partner & CFO at Inspire Ventures, where he played a pivotal role in making strategic investments in companies like aCommerce, Deliveree, Super Awesome, and more. In 2015, Gagan joined the founding team of Deliveree, a leading B2B logistics firm in Southeast Asia, serving as Group CFO and board member. His leadership helped secure over $120 million in funding for the company.