Module 08 · The fundraising deck~22s dwell · weight 9
Business Model
Show how you make money and prove the unit economics hold up. Investors spend ~22 seconds here, one of the most scrutinized slides.
Include
- Pricing (real numbers, not 'contact us')
- Revenue streams, subscription, usage, transaction, hybrid
- Unit economics: ACV, gross margin, LTV/CAC or a credible path to it
- Key assumptions behind the numbers, called out plainly
Cut
- Vague 'we'll monetize later'
- A model too complex to explain in two lines
- LTV/CAC without stating the payback period
Red flags a reader notices
- No pricing at all
- 'We'll figure out monetization later'
- 80%+ gross margin claimed with no cost breakdown
Pitfalls behind them
- Pricing is 'contact us' or 'usage-based, will figure out'.
- Gross margin is stated but the cost of goods behind it is not.
- LTV/CAC is a headline but the payback period is missing.
60-second self-test
- · Can a partner underwrite your model in one glance: price, ACV, margin, payback?
- · If a customer asked 'what will this cost me a year from now,' can you answer without a call?
Template
$[X]/mo per [seat / customer / API call]. ACV $[Y]. Gross margin [Z]%. Payback [N] months.
Weak
"SaaS pricing based on customer needs. We'll iterate."
Strong
"$39/contractor/mo, floor $975/mo per customer. ACV $11.7K. 74% gross margin (FX + banking rails dominant). CAC $4.1K, payback 5.2 months."
Everything a reader needs to underwrite the model in one line, matching the $11.7K ACV used on Nimbus's market slide.
Quick quiz
1. A seed-stage business model slide should…
- ✓ State pricing and the core unit economics in one glance.
- ○ Defer monetization to later stages.
Even at seed, investors want a credible path to revenue.
2. Which unit-economics line is most credible?
- ○ 'SaaS with strong LTV/CAC.'
- ✓ 'CAC $4.1K, payback 5.2 months, gross margin 74%.'
Numbers, units, and a payback period an investor can sanity-check.