Perfecting Your Pitchdavid@davidshore.comDavid ShoreDavidShoreDavidGShore
?
Who Is This Guy?Start-ups in the80’s and 90’s2000 - 20122004 - 2011Investor2013 -EntrepreneurAdvisor2001 -
PerspectivesFounder Board InvestorExitTransactions.M&A
COMMUNICATION
PRESENTATION
COMMUNICATION
Textual Presentations- PERFECTING YOUR PITCH -
Graphic Presentations- PERFECTING YOUR PITCH -
Textual Presentations
Graphical Presentations
Graphical Presentations
Pricing : A Science and an ArtTYPE OFINVESTORIssue AftermarketINSTITUTION UNDERWRITE BUYRETAIL BUY HOLDSTAGS BUY SELL- PER...
What was the title of the previous slide?- PERFECTING YOUR PITCH -Keep the answer to yourself for a sec…
Pricing : A Science and an ArtTYPE OFINVESTORIssue AftermarketINSTITUTION UNDERWRITE BUYRETAIL BUY HOLDSTAGS BUY SELL- PER...
Seating- PERFECTING YOUR PITCH -Both Sides of the Table
Eye Contact- PERFECTING YOUR PITCH -
Tell Me What You DoDescribe the problem you solve.“We sell [hardware/software]that helps [our target market]to [save money...
Tell Me What You Do- PERFECTING YOUR PITCH -
PRESENTATION
Slides- PERFECTING YOUR PITCH -Company DescriptionTeamProblem or NeedSolution/DemoValue PropositionAddressable Market,Trac...
1Presentationto:Date and time
Snapshot$2m for an active board seat2
Team John, CEO Former ABC, XYZ Jim, CTO, Founder Former ABC, PQR VP Marketing Identified David, Board Member DEF, ...
Industry ProblemRevenue is droppingExpenses are risingCustomers are leaving4
Our Solution5“This should save us$100 per employee peryear”Mr. Big, CEO of Target Customer
Our Solution5Reference Clients Annual $ Buying DecisionABC Co 35,000 Access from the cloudLMN Ent. 42,000 Flexible pricing...
Demo
Addressable Market6
Traction
Competitive PositionCompSpeedFunctionality7Comp
Sales and Marketing StrategyPricing strategyTarget marketsChannels or partnersCurrent funnel8
Road Map11Year 1 2 3 4 5EarlyAdoptersCrossingthe ChasmMainstreamGrowthDesignBeta, onesectorFullLaunchIPRoadmapFundingRoadm...
Projections9
Projections10
• Team• Market opp• Timing13Summary
Appendix14•IP Summary•Development Roadmap•Market Segments•Use Case – Primary Markets•Use Case – SecondaryMarkets•SWAT Anal...
Follow up- PERFECTING YOUR PITCH -• A short email that night• Answer open questions andtasks• Lead into next steps
Avoid Saying…• ‘Our projections are conservative’• ‘We have no competition’• ‘We have a first mover advantage’• ‘We only n...
COMMUNICATION
PRESENTATION
Thanks- PERFECTING YOUR PITCH -This is onhttp://www.slideshare.net/davidshorefor future reference
Tell Me What You DoDescribe the problem you solve.“We sell [hardware/software]that helps [our target market]to [save money...
Objectives
Murphy’s Law
High Valuation TrapProblem:•Follow-on investors value lower than last•Forced to “cram down” last investors or nodealSoluti...
Valuation• Consider the post $ cap table for the nextround• And subsequent rounds to the exit.
Exit Valuations• Multiple of–Revenue (eg. $10m x 2 = $20m)–Profit or EBITDA (eg. $3m x 6 = $18m)• Discounted Cash Flow (ca...
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Perfecting your pitch nvbc 2013
Upcoming SlideShare
Loading in …5
×

Perfecting your pitch nvbc 2013

963
-1

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
963
On Slideshare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Why are we here?
  • To WIN this competition. What's the most important ingredient to winning this competition? I have been a judge or mentor since inception in 2001 and have seen everything from no presentation at all to 65 slides to a 45 minute video. None of those had a chance of winning because we either didn’t understand the message or we fell asleep waiting. This is the first year we are presenting this and it is the key to winning. All the winners have excelled at this – you cant win without it. So getting this right could be more important than your intellectual property or your team or whatever you have been working on to make your company a success. We’ll break this into 3 sections…
  • Once you get your focus statement correct we now focus on communication - Most things you have learned about speeches and communication are wrong. Differentiate the great from the good (not memorable and the memorable) – 10 presentations over 2 days (trying to find ways to disqualify you – one of the ways is communication) – if you can’t pitch your story how can you pitch a client or raise money. Walk into the room and get peoples attention right away. Start with a bang (like everything you know about communication and speeches are wrong) - Success in Speaking Means the audience remembers you and your message - Receiver Driven Communications (let the listener drive) – John Miers Communication is Silence. Got that Pause Silence = Thought = Memory Observe a conversation – (David and I) 1- First Person Thinks 2- First Person Speaks 3- Second Person Thinks 4- Second Person Speaks (in a presentation this is non verbal, a nod – permission to go on) You can’t listen and think at the same time You can’t read and think at the same time Your job as the speaker is to make the audience think – you only speak to achieve this. Build Anticipation A natural conversational style is best for public speaking Next is PowerPoints…. The most overused and misused business tool on the planet. 10 Second Test
  • Communicate like a pro to ensure your message is understood
  • Focus your audience on exactly what you do and why that will make you successful
  • Why are we here?
  • Communicate like a pro to ensure your message is understood
  • Easy way to tell if you have enough visuals… do the slide sorter view. Bulleted List Activity….
  • So now you have a strong focused business statement – essentially a thesis for your presentation and your business. You communicated this in a strong, receiver driven way, a way that will have people remembering you. Now you have 20-30 minutes to give the judges all the information that you need to get an A on the Presentation and win the competition.
  • Don’t make your speaking notes your presentation. Do it more like this
  • Pause and let people read it. Strong Visuals – speak to them
  • Pause and let people read it. Strong Visuals – speak to them
  • The Secrets of Superb Public Speaking – John Miers 2009
  • The Secrets of Superb Public Speaking – John Miers 2009
  • The Secrets of Superb Public Speaking – John Miers 2009
  • Once you get your focus statement correct we now focus on communication - Most things you have learned about speeches and communication are wrong. Differentiate the great from the good (not memorable and the memorable) – 10 presentations over 2 days (trying to find ways to disqualify you – one of the ways is communication) – if you can’t pitch your story how can you pitch a client or raise money. Walk into the room and get peoples attention right away. Start with a bang (like everything you know about communication and speeches are wrong) - Success in Speaking Means the audience remembers you and your message - Receiver Driven Communications (let the listener drive) – John Miers Communication is Silence. Got that Pause Silence = Thought = Memory Observe a conversation – (David and I) 1- First Person Thinks 2- First Person Speaks 3- Second Person Thinks 4- Second Person Speaks (in a presentation this is non verbal, a nod – permission to go on) You can’t listen and think at the same time You can’t read and think at the same time Your job as the speaker is to make the audience think – you only speak to achieve this. Build Anticipation A natural conversational style is best for public speaking Next is PowerPoints…. The most overused and misused business tool on the planet. 10 Second Test
  • You can not describe your business in under 2 minutes You can get interest and excitement and a desire for more info The most critical step for start-ups About 30 seconds Excitement, greed, curiosity
  • One sentence - what you sell, to whom and why they should buy.
  • One sentence - what you sell, to whom and why they should buy.
  • Once you get your focus statement correct we now focus on communication - Most things you have learned about speeches and communication are wrong. Differentiate the great from the good (not memorable and the memorable) – 10 presentations over 2 days (trying to find ways to disqualify you – one of the ways is communication) – if you can’t pitch your story how can you pitch a client or raise money. Walk into the room and get peoples attention right away. Start with a bang (like everything you know about communication and speeches are wrong) - Success in Speaking Means the audience remembers you and your message - Receiver Driven Communications (let the listener drive) – John Miers Communication is Silence. Got that Pause Silence = Thought = Memory Observe a conversation – (David and I) 1- First Person Thinks 2- First Person Speaks 3- Second Person Thinks 4- Second Person Speaks (in a presentation this is non verbal, a nod – permission to go on) You can’t listen and think at the same time You can’t read and think at the same time Your job as the speaker is to make the audience think – you only speak to achieve this. Build Anticipation A natural conversational style is best for public speaking Next is PowerPoints…. The most overused and misused business tool on the planet. 10 Second Test
  • Why are we here?
  • About 12 slides, average 1 to 2 minutes each Cover following topics A picture says a thousand words Don't present bulleted speaking notes
  • History: What we do: What we are looking for:
  • Why they are important Gaps (ok to discuss) Three-legged stool, importance of the team
  • These should articulate a market pain and tie directly to your value proposition
  • Show what you have developed Give 3rd party references that tie into value proposition Tell a story about your product and how you designed it to solve the problems your market is living with How does it save money or make money for the customer Why you prioritized this feature or that benefit Show your pride here Describe the IP
  • Show what you have developed Give 3rd party references that tie into value proposition Tell a story about your product and how you designed it to solve the problems your market is living with How does it save money or make money for the customer Why you prioritized this feature or that benefit Show your pride here Describe the IP
  • Lots of conflicting data, don’t blow a tire here, just get to $XB Clear description of the target customer TAM = Prospects x Price Not to be confused with a sector’s revenue Not to be used for Forecasting (reasons to follow)
  • Use the metrics that matter for your sector
  • Should help all buyers understand your business and it’s value to them What are your key differentiators Why will customers buy your product over competitor products Why will you beat your competitors? Never underestimate your competition
  • Pricing Initial target markets (geography, sector) How to sell? (web, direct, channel) Sales cycle and current funnel
  • How much are you seeking? How long will this cash last? Future rounds? Use of Funds? How will this improve the valuation for the next round? Relate this strategy to the milestones
  • Show take-up, top line, margin line and bottom line for 5 years Your model should have the associated financial statements for 60 months. Investor will focus on the following, so you may highlight or reference them
  • One graph showing revenues, Margins and Profit/Loss for 5 years Speak to the graphs – “cash flow starts here, cash even about here”, etc Preferably reaching excess of $40 million in 3-5 years
  • Anticipate questions and add answers to the deck I have seen 30 slides here, accessible by typing the slide number and enter from the presentation screen
  • PDF, available for download
  • Once you get your focus statement correct we now focus on communication - Most things you have learned about speeches and communication are wrong. Differentiate the great from the good (not memorable and the memorable) – 10 presentations over 2 days (trying to find ways to disqualify you – one of the ways is communication) – if you can’t pitch your story how can you pitch a client or raise money. Walk into the room and get peoples attention right away. Start with a bang (like everything you know about communication and speeches are wrong) - Success in Speaking Means the audience remembers you and your message - Receiver Driven Communications (let the listener drive) – John Miers Communication is Silence. Got that Pause Silence = Thought = Memory Observe a conversation – (David and I) 1- First Person Thinks 2- First Person Speaks 3- Second Person Thinks 4- Second Person Speaks (in a presentation this is non verbal, a nod – permission to go on) You can’t listen and think at the same time You can’t read and think at the same time Your job as the speaker is to make the audience think – you only speak to achieve this. Build Anticipation A natural conversational style is best for public speaking Next is PowerPoints…. The most overused and misused business tool on the planet. 10 Second Test
  • Communicate like a pro to ensure your message is understood
  • Why are we here?
  • One sentence - what you sell, to whom and why they should buy.
  • One sentence - what you sell, to whom and why they should buy.
  • Once you get your focus statement correct we now focus on communication - Most things you have learned about speeches and communication are wrong. Differentiate the great from the good (not memorable and the memorable) – 10 presentations over 2 days (trying to find ways to disqualify you – one of the ways is communication) – if you can’t pitch your story how can you pitch a client or raise money. Walk into the room and get peoples attention right away. Start with a bang (like everything you know about communication and speeches are wrong) - Success in Speaking Means the audience remembers you and your message - Receiver Driven Communications (let the listener drive) – John Miers Communication is Silence. Got that Pause Silence = Thought = Memory Observe a conversation – (David and I) 1- First Person Thinks 2- First Person Speaks 3- Second Person Thinks 4- Second Person Speaks (in a presentation this is non verbal, a nod – permission to go on) You can’t listen and think at the same time You can’t read and think at the same time Your job as the speaker is to make the audience think – you only speak to achieve this. Build Anticipation A natural conversational style is best for public speaking Next is PowerPoints…. The most overused and misused business tool on the planet. 10 Second Test
  • Perfecting your pitch nvbc 2013

    1. 1. Perfecting Your Pitchdavid@davidshore.comDavid ShoreDavidShoreDavidGShore
    2. 2. ?
    3. 3. Who Is This Guy?Start-ups in the80’s and 90’s2000 - 20122004 - 2011Investor2013 -EntrepreneurAdvisor2001 -
    4. 4. PerspectivesFounder Board InvestorExitTransactions.M&A
    5. 5. COMMUNICATION
    6. 6. PRESENTATION
    7. 7. COMMUNICATION
    8. 8. Textual Presentations- PERFECTING YOUR PITCH -
    9. 9. Graphic Presentations- PERFECTING YOUR PITCH -
    10. 10. Textual Presentations
    11. 11. Graphical Presentations
    12. 12. Graphical Presentations
    13. 13. Pricing : A Science and an ArtTYPE OFINVESTORIssue AftermarketINSTITUTION UNDERWRITE BUYRETAIL BUY HOLDSTAGS BUY SELL- PERFECTING YOUR PITCH -The Secrets of Superb Public Speaking – John Miers 2009
    14. 14. What was the title of the previous slide?- PERFECTING YOUR PITCH -Keep the answer to yourself for a sec…
    15. 15. Pricing : A Science and an ArtTYPE OFINVESTORIssue AftermarketINSTITUTION UNDERWRITE BUYRETAIL BUY HOLDSTAGS BUY SELL- PERFECTING YOUR PITCH -The Secrets of Superb Public Speaking – John Miers 2009
    16. 16. Seating- PERFECTING YOUR PITCH -Both Sides of the Table
    17. 17. Eye Contact- PERFECTING YOUR PITCH -
    18. 18. Tell Me What You DoDescribe the problem you solve.“We sell [hardware/software]that helps [our target market]to [save money or make money]”- PERFECTING YOUR PITCH -
    19. 19. Tell Me What You Do- PERFECTING YOUR PITCH -
    20. 20. PRESENTATION
    21. 21. Slides- PERFECTING YOUR PITCH -Company DescriptionTeamProblem or NeedSolution/DemoValue PropositionAddressable Market,TractionCompetitionSales and MarketingStrategyRevenue ModelProjectionsRoadmapSummaryContact InformationAppendix10 seconds to 2 minutes each
    22. 22. 1Presentationto:Date and time
    23. 23. Snapshot$2m for an active board seat2
    24. 24. Team John, CEO Former ABC, XYZ Jim, CTO, Founder Former ABC, PQR VP Marketing Identified David, Board Member DEF, PQR.3
    25. 25. Industry ProblemRevenue is droppingExpenses are risingCustomers are leaving4
    26. 26. Our Solution5“This should save us$100 per employee peryear”Mr. Big, CEO of Target Customer
    27. 27. Our Solution5Reference Clients Annual $ Buying DecisionABC Co 35,000 Access from the cloudLMN Ent. 42,000 Flexible pricingXYZ Inc. 25,000 Convenience, time savings• Relate each decision tovalue• “Price” is a problem
    28. 28. Demo
    29. 29. Addressable Market6
    30. 30. Traction
    31. 31. Competitive PositionCompSpeedFunctionality7Comp
    32. 32. Sales and Marketing StrategyPricing strategyTarget marketsChannels or partnersCurrent funnel8
    33. 33. Road Map11Year 1 2 3 4 5EarlyAdoptersCrossingthe ChasmMainstreamGrowthDesignBeta, onesectorFullLaunchIPRoadmapFundingRoadmapExitRevenueRoadMaptodayAlphaSeed,Angel$1.2mF, F & E$0.3mSeries A$4mSeries B>$10mExpan-sion
    34. 34. Projections9
    35. 35. Projections10
    36. 36. • Team• Market opp• Timing13Summary
    37. 37. Appendix14•IP Summary•Development Roadmap•Market Segments•Use Case – Primary Markets•Use Case – SecondaryMarkets•SWAT Analysis•Positioning Detail•Channel Detail•Pricing Detail•Market Trends•Tech Trends•Proforma HR•Cap Table•Uses of Capital
    38. 38. Follow up- PERFECTING YOUR PITCH -• A short email that night• Answer open questions andtasks• Lead into next steps
    39. 39. Avoid Saying…• ‘Our projections are conservative’• ‘We have no competition’• ‘We have a first mover advantage’• ‘We only need to capture x% of themarket share’.D - PERFECTING YOUR PITCH -.
    40. 40. COMMUNICATION
    41. 41. PRESENTATION
    42. 42. Thanks- PERFECTING YOUR PITCH -This is onhttp://www.slideshare.net/davidshorefor future reference
    43. 43. Tell Me What You DoDescribe the problem you solve.“We sell [hardware/software]that helps [our target market]to [save money or make money]”- PERFECTING YOUR PITCH -
    44. 44. Objectives
    45. 45. Murphy’s Law
    46. 46. High Valuation TrapProblem:•Follow-on investors value lower than last•Forced to “cram down” last investors or nodealSolution:•Understand downstream valuations.
    47. 47. Valuation• Consider the post $ cap table for the nextround• And subsequent rounds to the exit.
    48. 48. Exit Valuations• Multiple of–Revenue (eg. $10m x 2 = $20m)–Profit or EBITDA (eg. $3m x 6 = $18m)• Discounted Cash Flow (can be lame)• All are better when company is growing–(Importance of timing).

    ×