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Life in the Pitch Lane•Stop Me if You’ve Heard This Before
Rod Lenniger@AZRod
My Life In the Pitch Lane
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Pitch?
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Recipients
ApplicantsProfessors
Fiancee
Customers
Vendors
Investors
Employees
Boss
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What about a Business Plan?
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“Everybody has a plan until they get punched in the mouth…”
Business Plans
VS
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? ? Business Model Canvas
https://www.youtube.com/watch?v=QoAOzMTLP5s
Good Enough?Built from a Business Plan?
Competent or Excellent?
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Everybody Gives PitchGuidelines
The best will contain… “Guaranteed” to win over Investors
Always do this… Never do that…
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Bad Pitches
Can Kill
Good Ideas
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INVESTOR PITCH DECK OUTLINE1) Elevator Pitch2) Momentum, Traction, Expertise: Your key
numbers3) Market Opportunity: Define market size &
your customer base4) Problem & Current Solutions: What need do
you fill? Other solutions5) Product or Service: Your solution6) Business Model: Key Revenue Streams7) Market Approach & Strategy: How you grow
your business8) Team & Key Stakeholders (Investors,
Advisors)9) Financials 10)Competition11)Investment: Your ‘Ask’ for funding, Basic use
of funds
Optional Slides: Exit Strategy, Partnership Agreements, Product/Service Demo, Existing Sales/Clients, Your “Special Sauce”
Per “Crowdfunder”RAL Advisory Services
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Dave McClure, 500 Startups
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“Evangelist”
6/17/15 RAL Advisory Services
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Gary’s 10 Slides1. Title2. Problem/Opportunity3. Value Proposition4. Underlying Magic5. Business Model6. Go-to-Market Plan7. Competitor Analysis8. Management Team9. Financial Projections10.Current Status (Accomplishments to date, Timeline, Use of Funds)
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Killer Questions
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Sales ≠ Marketing
How will you get your idea to market?
Marketing ≠ Sales
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You Will Need a Marketing Plan
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Software Companies Need Sales and Marketing More!
• Common Misperceptions• Founders/leads come from tech- product first• Marketing seen as fluff luxury• Great products sell themselves/early adopters• …But R&D doesn’t generate income!
• Marketing Reaches People You Don’t Know• Have a plan ready when time to scale up• Cant just “turn on marketing”• Who? Pain points? How to reach?• Systematic. Trial and Error. Takes time
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The Big Boys spend more on Marketing than R&D!
• Dell spends 8 times as much on G&A than R&D
• 1H 2014 – HubSpot spent $9M on R&D; $33M on Sales/Marketing
• 2014 – SalesForce spent 15% on R&D; 53% on sales & Marketing
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Who’s Running this Show?
The Management Team
People and Chemistry Count!
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Expertise Opportunity
Passion
X
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Show You Share Focus
Pitch Deck Examples
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P R O B L E M
Weak Inventory Management
Money left on the table
No single buy/sell platform
Too slow and complicated
Too many middlemen
Seller
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Auction
Buy PlannerInventory Management
Profits
S O L U T I O N
Cloud Based – Real Time – Single Platform
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B U S I N E S S M O D E L
Uploads Inventory
Auction
Campaign Tools
Search
10 – 15% Commission
Net Proceeds
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U N D E R LY I N G M A G I C
Campaign planning/media buying tools
Inventory management
Collecting Payments
Tracking analytics/trends
Closing Sale
Executes auction model
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C O M P E T I T O R M A T R I X
FeaturesOne-Stop Shop (Buy/Sell)
Management System
Campaign Planning Tools
Available Inventory On-Line
On-Line, RT Auction
Near Real-Time Transactions
Demographic Targeting
Monetize Unsold Inventory
Smart Phone Access WIP
Analytics / Data Mining WIP
RFP Process Not necessary
35
SoftwareFully
operational
CURRENT STATUS, ACCOMPLISHMENTS TO DATE, T IMELINE AND USE OF FUNDS
Beta testing in first niche market (Balt/Wash, DC)
$$ for enhanced website front end, Marketing, SG&A
$BETA
36
Launch
2012Software Concept Developed
Digital Sign ExpoLas Vegas
Successful Demo’sto Inventory owners
Finalize Business PlanSeek External Funding Summer
Beta/Launch DC/ Baltimore October
Launch Dallas, Ft Worth & Chicago
2013 2014 2015
SUMMARY: EVERY PITCH HAS PURPOSE
Not to answer all possible questions, nor close immediate investment.
• Open investors minds to your vision and get them excited to know more. • The story you craft in your Deck gets them engaged to start filling in the
blanks for themselves
You want to give enough information to grab their interest, but not too much as to overwhelm them or have your story lose clarity & focus.
Give them enough to get excited about, but leave them wanting more.
Compelling Decks are concise, tell a story, are visual, 10-13 slides
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Bill Gross, Idealab (Ted Talk-March 2015)
• Why do some succeed and some not?
• Gathered Data from hundreds of companies
• Ranked on 5 key factors
• One factor stood out as success determinant…?
• Funding• Business Model• Idea “Truth” Outlier• Team Execution• Timing
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• Funding 14%• Business Model 24%• Idea “Truth” Outlier 28%• Team Execution 32%
• Timing 42%
Factors Matter Most for Startup Success?
https://goo.gl/yFHyhu
Strive to be excellent not only in your “pitches” but in all you do!
I appreciate you taking the time to listen to what I had to share…
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