The Ask Slide: Don’t Leave Money on the Table

We’re in the home stretch of our pitch deck series. We’ve covered a lot of ground, but now it’s time to talk about a slide that often feels like a throwaway: the ask slide. This is where the rubber meets the road, folks. It’s your moment to clearly state what you need and why you need it. Let’s dive into how to nail what is often the final slide of your pitch deck.

The Cardinal Sin: Omission

Before we get into the nitty-gritty, I’ll share the biggest red flag I see with ask slides: not having one at all! Seriously, it happens more often than you’d think. Don’t leave your investors guessing. If you’re pitching, you’re asking for something. Make it crystal clear what that something is.

How Much Are You Raising?

This isn’t a time to be coy. You need to have a specific number in mind, and it should be based on solid projections and a well-thought-out proforma. But here’s the kicker: you can have more than one version of an ask slide! More on this later.

With any “ask,” you need to make sure the capital you’re asking for is enough to get you to the next level. For most early-stage companies (pre-seed through Series A), it’s about raising enough to hit the metrics that will unlock your next round of funding. In some cases, it might mean reaching cash flow break-even, but even then, you need a plan on how to keep growth up, otherwise, you won’t be able to raise the round.

Show Me the Money (and What It Does)

Here’s where a lot of founders miss the mark. They focus on how they’re going to spend the money — a breakdown of hires, marketing spend, R&D costs. But you know what? That’s not what we’re really interested in at this stage.

What we want to see is what that money is going to unlock. For example:

“We’re raising $2M in this seed round. With this funding, we project hitting $3M ARR, which will position us for a strong Series A raise.” I will undoubtedly ask questions throughout the process on how you are going to hit that $3M ARR but I want to know you have thought through where you are going to get with this money.

This tells me you’ve thought beyond just getting the money — you’re thinking about how this funding fits into your broader growth strategy. It shows you understand the funding landscape and what metrics you need to hit for future rounds. Showing me buckets of spend is a throwaway and it is probably going to change later anyway. Put a hiring plan in the appendix. That will give me far more insight into how you think than broad spend buckets that no one ever pays attention to.

The Valuation Question

Unless you have a signed term sheet, leave the valuation off this slide. If you’re just starting your raise, you don’t have terms set yet, so don’t box yourself in.

The exception? If you’re doing a party round or a self-led SAFE round, then yes, include those terms. But be aware — this may immediately knock some funders out of contention (or you may sell yourself short!).

One Size Doesn’t Fit All

As mentioned earlier, some savvy founders have multiple versions of their ask slide. They might have a small raise slide and a larger raise slide, depending on who they are talking to.

Why? Well, if a fund typically writes $3M checks and you’re pitching them on a $2M round, they’re probably not going to bite. You can have two plans, but there needs to be substance behind both. You have to be able to tell a credible story of what you can do with each unique amount. “This is where $3M gets us, and this is where $5M gets us, and why it unlocks the next level for our startup.”

The Appendix is Your Friend

Remember all that detailed spending info I said to leave off the main ask slide? That’s perfect appendix material. A slide breaking down planned hires, marketing spend, etc., can be great to have in your back pocket if investors ask for more details.

Evolution of the Ask Slide

As you progress from seed to later stages, your ask slide will evolve. In later rounds, investors will expect more detailed financials and concrete evidence of how you’ve used previous funding to drive growth. But at the seed stage, it’s more about the vision and the potential.

The Bottom Line

Your ask slide isn’t just about the money — it’s about demonstrating that you have a clear, strategic plan for using that capital to drive growth and create value. It’s about showing investors that you understand the funding landscape and have a roadmap for success.

Remember, in the world of startups, money is fuel for your rocket ship. Your ask slide is your chance to show investors that you know exactly how much fuel you need and where that fuel will take you.

Hopefully, this series has been helpful! Go forth and ask with confidence. Your next round of funding is waiting!