2012-07-24: From Lean Canvas To Lean Pitch
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2012-07-24: From Lean Canvas To Lean Pitch

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Presentation by Dan Lemberg

Presentation by Dan Lemberg
Baltimore Lean Startup meetup
July 24, 2012

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2012-07-24: From Lean Canvas To Lean Pitch 2012-07-24: From Lean Canvas To Lean Pitch Presentation Transcript

  • From Lean Canvas to Lean Pitch Leveraging the Lean Canvas to A0ract Investors 
  • Startups are like Subprime Loans Low Risk, 3‐5 % yield  Medium Risk, 6‐10 % yield  Value: Known!  ?  Risk – Unknown!    Yield – Unknown!    Value – ???  2
  • How Investors Win – Bundling Risk •  One investment with  a 10% chance of a  20x ROI is a gamble  •  Ten investments with  a 10% chance of a  20x ROI doubles your  money  3
  • How You Win – Get Included!To be included in the bundle, you need to help investors quanAfy your risk (low is good!) and yield (high is good!).   1     The lean canvas helps you do that!  Why?  Because…  4
  • Investors Unconsciously Think in LeanPhase  Investors  Running Lean  by Ash Maurya Phase 1  Prove you have a Business  Problem / SoluPon Fit Phase 2  Prove you have a Product  SoluPon / Market Fit Phase 3  Prove you can Execute  Scale  5
  • Lean Canvas to the Lean Pitch•  Prove you have a Business •  Prove you have a Product •  Prove you can Execute Each proof requires the prior.  Execu:on can be improved if you have a good product.  Product issues can be solved if you have a good business.  6
  • Prove you have a BusinessNeeds to be rock solid Slides  •  They are buying into you as much as the idea!  Intro &  You!  •  What makes you more likely to succeed?  Agenda    Market  Customer  •  What is your target market?  Overview  Segments  •  How big is it and who parPcipates in it?    Business  Drivers  •  What problem are you trying to solve?    Problem  •  How do you know it’s a problem & how big is  Market  it?  Challenges    •  How much do they pay for soluPons today?  Revenue  Impact by  •  If they don’t pay now, why in the future?  Segment  7
  • Prove you have a ProductNeeds to be highly credible Slides  •  What are you selling and for how much?  SoluPon  SoluPon  •  Who are you compePng against?  Overview    Pricing Unique Value  •  How do you differenPate yourself?  Strategy  ProposiPon  •  What’s the impact on your compePPve posiPon    CompePPve  Assessment  Unfair  •  Why won’t company X ‐ who is bigger, more    Advantages  mature, and beaer funded ‐ simply copy you?  MarkePng  Strategy    •  How are you going to reach the customer?  Sales  Channels  •  What is the sales and markePng strategy?  Strategy  8
  • Prove you can ExecuteExcept for the end-game, this will change! Slides  ExecuPon  •  How are you going to structure your team?  ExecuPon  Plan  •  How are you going to grow?  Plan    Key Dates  •  What are your key tasks & milestones?  & Metrics  Key Metrics  •  How should your progress be judged?    Financial  Plan  Cost  •  How much will it take to fund your acPviPes?    Structure  •  What are your financial projecPons?  Funding  Strategy  What’s in it    •  What’s the end‐game: go public or sell out?  for the  Q&A &  •  How much do you need and what do we get?  investor?  Feedback  9
  • Closing Thoughts•  Investors are looking for high yield with controllable risk •  For a start‐up, Business > Product > ExecuPon •  The lean canvas helps you think through your pitch •  Three things are missing:  •  Their end‐game – whens the payout & how much?  •  Your execuAon plan – how do you deliver the goods?  •  The value of you – why are you a beaer bet than the next guy? •  You can present your pitch in 15 to 20 slides  10