Funding Your Startup

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7 comments

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  • + satyajitsahu Satyajit Sahu 9 months ago
    This was one of the most helpful presentations I have seen in SV NewTech meetup. Thanks Bill & Vinnie.
  • + ihfzskprod Local Agile Brands 9 months ago
    -- Investor perspective.
    -- one page/elevator pitch
    -- deal sizes.... (rounds.../size..../markets...)
    -- Sell a double-bypass surgery before morphine, before ppo insurance before aspirin before vitamins!
    -- Focus on the buyer (the hmo vs. doctor vs. nurse vs. patient vs. family)
  • + tspatel83 Tejas Patel 9 months ago
    thanks... i learn many thing from this presentation.
    really this will be very helpful to me in recent future. :)
  • + guest6bc557 guest6bc557 9 months ago
    Thank you. This was some advice I’ve been looking for. Plenty of food for thought.
  • + ShawnPhillips Shawn Phillips 9 months ago
    Thanks for the show it gave me some thoughts
  • + vlauria Vinnie Lauria 9 months ago
    As the organizer of the Silicon Valley NewTech Meetup (newtechmeetup.org), I was really impressed with Bill’s presentation - it’s the best resource I’ve ever seen on fundraising.
  • + sharethoughts sharethoughts 9 months ago
    Nice Show
    Thanks for sharing
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Funding Your Startup - Presentation Transcript

  1.  
  2. Silicon Valley NewTech Meetup – April 7, 2009 Bill Hunt - bill@whuntpartners.com Funding your Start-Up
  3. What If I Don't Need Investment?
    • You’re NOT doing it without investment. Instead, you are choosing to be your own investor.
    • Investment principles exist, just as architecture/coding/etc principles exist.
    • Be a good investor and evaluate your business like an investor would.
    • Make changes based on this, or even scrap the idea and pick a better one if it doesn’t make sense from an investment perspective.
  4. Get an Intro
    • Find someone who can introduce you to the Angel or VC
    • Have an elevator pitch prepared; you never know when you’ll have a 2 minute opportunity to pitch a potential investor.
    • Go to events you know VCs will be at. Give them the elevator pitch.
  5. Know What The Investor Wants
    • What deal sizes do they do?
    • What markets do they focus on?
    • Do they have a competitive portfolio company?
    • Do they have complimentary portfolio companies?
    • Do they lead rounds?
    • Do they have money?
    • Look like the sort of company they invest in
  6. The Problem You're Solving
    • What is the problem that exists?
    • How bad is the pain?
    • Focus on an individual.
      • Is this a problem for CEOs?
      • For CIOs?
      • For Product Managers? etc.
    • Whose problem is this? I.e. who will buy your product?
    • Sell Aspirin, not Vitamins.
  7. Your Unique Solution
    • What is your solution to this problem?
    • Focus on the problem that you solve.
  8. Do a demo
    • If possible, demo your product, or do a walkthrough in mock-ups.
  9. Market Size
    • How many customers will pay for a solution like this?
    • Ideal answer will come from a third-party, such as an analyst.
    • If necessary, do the math yourself, based on the number of potential customers x how many would actually buy.
    • Make sure your financials (later) align with this. Don’t assume you can sell >50% of this market.
  10. Market Validation
    • Quote from potential customer(s)
    • Ideal quote sounds like this:
    • “ If only I had the XYZ widget, I would buy 50 today. I need a solution to W, and XYZ has the best/only way to solve it.”
  11. Monetization
    • It has to make money.
    • Advertising is not looked at favorably.
  12. Team
    • Describe each of the team members
    • Why is each member fantastic for building this company?
    • Have you worked together before?
    • A team of one is bad. Support and Peer-pressure among founders keeps things strong.
  13. Competition
    • What other solutions exist?
    • No competition is bad. This implies that the problem you’re solving isn’t real.
    • Too much competition is bad. Means the space is too crowded. (although if you have serious differentiation, you can cut through competition).
    • Common slide shows matrix with competitors along left and features along top. Checks for each feature, with your company having all checks.
  14. Differentiation
    • Why are you better?
    • Be tough for others to duplicate:
      • patents that you have filed
      • existing market penetration
      • man-years of effort required
    • Focus patent efforts on paths that your competition will have to cross.
  15. Go To Market Plan
    • How will you get your offering to your customers?
    • What channels will you use?
    • How much will you charge?
    • Where/how will you market to customers?
  16. Financials
    • Chart of projected Revenue/Costs/Profit
    • Quarterly for first year. Yearly for next 2 years
    • Don’t be too aggressive:
      • Your company won’t smell right; will make VC believe you are naive.
      • VCs have a fantastic memory for these sorts of things, and later if you don’t meet up to your projections, you’ll be in trouble.
  17. Listen during the presentation
    • Watch body language.
    • Note concerns, and do your best to address in the presentation. If you can’t, get back to them later with better answers.
    • Adjust pitch on the fly if necessary.
  18. Be confident
    • Investor wants to see you as someone that can be counted on to manage a lot of their money. Be strong.
    • Run the meeting. If they ask about something that’s in your presentation later, give them a brief answer and say “I’ll cover that in a couple of slides.”
  19. Keep it Simple
    • 10 – 15 slides maximum
    • Don’t pour every detail into the presentation.
    • Focus on what’s important. If there is interest, there will be follow-up meetings to address details.
    • Presentation should be for 30 mins max, so you have another 30 mins for Q&A
    • The goal of the first meeting is to get a second meeting.
  20. Have backup slides
    • Keep other slides in case you need them.
    • Being able to answer questions with backup slides makes you look prepared.
  21. Get Feedback
    • Find out what their process is and what the next steps are.
    • Find out what they liked and didn’t like.
    • Internalize feedback to strengthen your company.
    • Adjust your presentation to the next Investor accordingly.
  22. Interview the Investor
    • Make sure the investor adds value to your company.
    • Talk to CEOs of other companies that they have invested in.
    • Be sure they don’t show up at board meetings to watch their money. They should provide business advice, customers, partners, and acquisition partners
  23. Silicon Valley NewTech Meetup – April 7, 2009 Bill Hunt - bill@whuntpartners.com Funding your Start-Up

+ Bill HuntBill Hunt, 9 months ago

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