First of all, thank you, Nora, for having me on. I enjoy all of our conversations and am happy we are doing this in a format where others can listen in and hopefully glean some insights along the way.

I’m originally from the US. I moved to Israel when I was 18 and spent over a decade in the Israeli tech ecosystem. Three years ago, we moved to Budapest, where we plan to stay for at least a few more years. In Israel, which is a hub for tech and innovation, I initially studied political science and international relations, followed by a second degree in political science. I was planning to pursue a PhD but got involved in a few local Israeli social startups along the way. I loved being part of bringing new ideas to life

During this time, I co-founded a small marketing and operations consultancy with a close friend,Etan Efrati. Etanworked at OurCrowd and other successful Israeli startups like Freightos. Our consultancy began gaining traction, and we started receiving inbound inquiries for our help. This led us to realize the value of our services, even though we didn’t end up working with Techstars as initially anticipated.

One of our notable clients was Jack Zerby, a multi-exited founder and design expert. Jack is particularly known for his tenure as the Director of Design at Vimeo, now he is the Head of Design at Gumroad. Jack brought us on initially to help market educational courses and cohorts. This collaboration evolved into teaching people how to build pitch decks and eventually into building pitch decks ourselves. Jack’s involvement in building pitch decks for top VCs and startups opened more opportunities in this niche. We began directly helping startups craft compelling narratives for fundraising.

At Design For Decks, we help founders tell their stories. Despite being a boutique firm, we are fortunate to work with top startups. I personally read every inquiry that comes in and am always happy to help, whether it’s answering a simple question, providing access to resources, or assisting with pitch deck reviews and building.

Over the past three and a half years, we have scaled our operations and worked with some of the most impressive founders and startups. I’ve also taken on roles with some of the companies we’ve helped, including Tallk.ai, where we assist SMBs and local businesses in communicating value through AI, chatbots, and meaningful content.

Nora: It would be great to learn from your experience about the common mistakes you see in startups. Are there any specific issues that differentiate local startups, say from Budapest or the Central European region, from those in other parts of the world?

Sam: I haven’t thought about it much before, but if I were to quickly refer to my experiences with Central European founders, I’d say two things. The first is the concern about English proficiency. Many founders worry that their less-than-perfect English might reflect poorly with investors. I compare this to Israeli startups, where founders might make grammar mistakes or use incorrect words, yet this has never hindered their ability to raise funds. If English isn’t your first language, don’t let that discourage you. Investors are betting on you as an impressive founder solving a big problem, not on your English skills.

The second issue I see is related to technical communication. In Hungary and Central Europe, there are many brilliant minds with strong STEM backgrounds. However, they often dive too deep into the technical details of their product during pitches. It’s crucial to focus on who the product is solving a problem for and what it does. In initial pitches, trying to get into the technicalities can be detrimental. The key is to present a clear, concise narrative about the problem and the solution.

Nora: And they find it hard to adopt this approach, right?

Sam: Absolutely. They often think they need to convince investors about the technicalities first. It’s challenging for Hungarian entrepreneurs, especially those with strong technical backgrounds, to shift the focus to the problem-solving aspect and the team behind the product rather than the product itself. It’s about conveying that while the current solution is strong, it might need to pivot, and that’s okay.

Let me share a recent anecdote.

About two and a half weeks ago, one of the VCs we work with in the US, a very large firm that writes substantial checks, sent me an email. They said, „Hey, we have a founder we want you to work with.” When I reached out, I discovered that this founder was somewhat of an enigma. Before agreeing to work with a founder, I always try to understand what ingredients they bring to the table. In this case, the VC had just written a large check to a founder who had only recently met his co-founder, had no clear idea of what his MVP would be, and had no traction. He had almost nothing going for him. But he did have a previous exit, which was what the VC was betting on.

Initially, I was skeptical. He wasn’t a great storyteller and lacked many of the qualities you’d typically expect to see in someone poised to raise significant funds quickly. So we’re about to deliver his final deck in the next few days. Over a few weeks, I noticed a significant transformation. Based on our conversations, he now has an extremely clear narrative, a beautiful brand, and a full team of impressive individuals that he brought on board recently.

If I had to pinpoint his greatest quality, it’s his ability to make clear, fast decisions and move the ball forward effectively. When I first met him, I was surprised they had given him such a large check despite having almost nothing. He didn’t even have industry experience in the area he was tackling. But now, I see what they were betting on. They were betting on the founder himself. Despite lacking many traditional ingredients for success, he’s managed to secure a large check and make meaningful progress in just a few weeks. Now he has a clear narrative, a strong brand, and a team of impressive individuals. He’s been able to make swift, impactful decisions, which is why the VC invested in him despite his initial lack of traditional markers of success. It was both refreshing and eye-opening to see this approach in action.

He’s now well on his way to raising a very large seed round, which he hadn’t initially planned on doing. Bringing on this big investor made it much easier to attract additional investment. He’s impressing people in his meetings, not with his charisma, English skills, storytelling, or industry knowledge, but with his ability to think clearly, make decisions, and drive progress meaningfully.

The VC was betting on him as a founder due to his clear decision-making ability and his capacity to move forward quickly. The founder’s ability to make clear decisions and drive progress is critical. And it’s important to convey that effectively in a pitch deck. I’d be hesitant to reveal the founder’s identity without permission, but he’s on his way to raising a substantial seed round, impressing investors with his decision-making and progress rather than just charisma or storytelling skills, despite lacking an MVP, traction, or even industry experience.

Nora: Thank you so much, Sam. This discussion has provided a clearer picture of the value of a well-crafted pitch deck. Despite being an old-school format, it’s still essential for presenting a startup’s value proposition effectively. It’s not just about what the founder knows, but how it’s presented. Your insights into helping founders formulate their value proposition are invaluable.

Further resources:

Growthmentor: https://app.growthmentor.com/mentors/sam-eisenberg

https://www.youtube.com/watch?v=VZ5bmgpXoSY&t=2216s

 

https://www.linkedin.com/in/sam-shmuel-eisenberg/