This past week, I listened to a founder describe their business. I’ve talked to them before and noticed a significant change in tone and confidence. They had more clarity on the problem they’re solving, how they’re going to solve it, and why they’re better suited than most to solve it. This wasn’t the case a few months ago. So what changed?

The founder spent a few weeks putting together a pitch deck. During that time, I provided feedback on how the deck should be structured and the questions the deck should answer. The result: a polished deck. But more importantly, the founder’s thinking is crystal clear.

Pitch decks are great for trying to raise capital. They quickly give potential investors an overview of your business. But the real value in pitch decks is that they are a great thinking tool for founders. When you create a pitch deck, it forces you to think about the business logically. Seeing your thinking on paper exposes the gaps in your thinking, which forces you to think deeper to close those gaps. Equally important, it allows you to communicate your thinking to someone in writing. This can be a game-changer because others can easily identify errors in logic and provide alternative perspectives. Also, when you write something down and share it, assuming it’s high quality, people put more effort into critiquing your thinking.

If you ever want to think through your business at a deeper level or have others provide feedback on your business, consider creating a pitch deck. The output is helpful, but the exercise of creating the deck is a powerful thinking exercise.