How to Pitch a VC (aka "Startup Viagra")
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How to Pitch a VC (aka "Startup Viagra")

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Slides from my talk "How to Pitch a VC" (aka Startup Viagra), Paris, June 2010

Slides from my talk "How to Pitch a VC" (aka Startup Viagra), Paris, June 2010

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How to Pitch a VC (aka "Startup Viagra") How to Pitch a VC (aka "Startup Viagra") Presentation Transcript

  • How to Pitch a VC aka “ Startup Viagra ” Dave McClure Founders Fund , Master of 500 Hats Paris, June 2010 [email_address] / @DaveMcClure
  • Essential Elements of your Pitch
    • Elevator Ride (30-sec quick pitch)
    • The Money Shot (demo)
    • Size Matters (market)
    • Nice Number$ (customers + revenue)
    • SuperHeroes & RockStars (your team)
    * note: the above are teaser images… they don’t really mean anything; they’re just here to capture your attention.
  • [Pardon The Blatant Commercial]
  • Dave McClure
      • 2001-2009:
      • Startup Investor: 500 Hats LLC, Founders Fund
      • Tech Marketing : PayPal, Simply Hired, Mint
      • Advisor, Angel Investor : 40+ Startups
      • Conf. Organizer : Web 2.0, O’Reilly, Startonomics
      • Stanford Visiting Lecturer : Facebook, Startup Metrics
      • 80’s & 90’s:
      • Entrepreneur : Founder/CEO Aslan Computing (acq.)
      • Developer : Windows Apps / SQL DB Admin
      • User Groups : E-Commerce, Internet, Client-Server
      • Engineer : Johns Hopkins ‘88, BS Eng / Applied Math
    GEEK, CODER, ENTREPRENEUR Blogger, Startup Advisor Internet Marketing, Angel/VC Investor
  • Professional Investments (43 deals, 2008-2010, ~$3M) fbFund REV 22 incubator deals ($850K) FF Angel 21 seed deals ($2M)
  • Personal Investments (26 deals, 2004-2010, ~$400K) LinkDex oneforty Networked Blogs MyGengo Votizen Postling EcoMom SiteJabber Graphicly WePay Plancast Recurly
  • 10 Slides to an Awesome Pitch
    • 1. Elevator Pitch
    • 2. The Problem
    • 3. Your Solution
    • 4. Market Size
    • 5. Business Model ($)
    • 6. Proprietary Tech
    • 7. Competition
    • 8. Marketing Plan
    • 9. Team / Hires
    • 10. Money / Milestones
    Demo Goes Here Teaser Image Goes Here
  • 10 Slides to an Awesome Pitch
    • 1. Elevator Pitch
    • 2. The Problem
    • 3. Your Solution
    • 4. Market Size
    • 5. Business Model ($)
    • 6. Proprietary Tech
    • 7. Competition
    • 8. Marketing Plan
    • 9. Team / Hires
    • 10. Money / Milestones
    Demo Goes Here Teaser Image Goes Here Cu$tomer Testimonial$ “ This Shit Rocks .” The Money Shot: Demo Screen Shots Video Business Metrics (NOT Revenue Projections) AARRR!
  • 1. The Elevator Pitch ( only 30 sec! )
    • Short, Simple, Memorable:
      • “ What , How , Why .”
    • 3 key words or phrases
      • “ Mint.com is the free, easy way to manage your money online.”
    • No expert jargon… just KISS .
    • Remember to Have Fun 
    • (…. when you pitch ------> )
  • 2. The Problem
    • What is The Problem ? … Make it Obvious .
      • “ Ouch . Yeah, I have that too…”
    • Who has it?
    • “ Painkiller not Vitamin ”
    • also see blog post:
    • “ Your SOLUTION is not my PROBLEM ”
  • 3. Your Solution
    • Great Products & Companies do 1+ of 3 things:
      • Get You LAID (= sex)
      • Get You PAID (= money)
      • Get You MADE (= power)
  • 3. Your Solution
    • Great Companies do 1+ of 3 things:
      • Get you LAID (= sex)
      • Get you PAID (= money)
      • Get you MADE (= power)
    • Describe why your Solution:
      • Makes your customers Happy
      • Does it better, different than anyone else
        • “ NICHE to WIN”
        • (Customer Case Study can also go here)
  • [ The Money Shot ]
    • http://Jing.com
    • http://ScreenCast.com
    • http://Flickr.com
    • http://YouTube.com
    • http://Scribd.com
    • http://SlideShare.com
    Demo Screen Shots Video
    • PRACTICE! PRACTICE! PRACTICE!
    • demo will FAIL -- have a backup (screenshots, local video, interpretive dance)
    • expect to be interrupted
  • [ The Money Shot ]
    • http://Jing.com
    • http://ScreenCast.com
    • http://Flickr.com
    • http://YouTube.com
    • http://Scribd.com
    • http://SlideShare.com
    Demo Screen Shots Video
    • PRACTICE! PRACTICE! PRACTICE!
    • demo will FAIL -- have a backup (screenshots, local video, interpretive dance)
    • expect to be interrupted
    • and remember :
    • The Script is NOT your Slides – The Script is the FACE of your Audience
  • 4. Market Size
    • Bigger is Better
    • Top Down = someone else reported it
      • Forrester, Gartner, Your Uncle
  • 4. Market Size
    • Bigger is Better
    • Top Down = someone else reported it
      • Forrester, Gartner, Your Uncle
    • Bottom Up = calculate users/usage/rev$
      • Avg Txn = $X
      • Y customers in our market
      • Avg customer buys Z times per year
      • Market Size = $X * Y * Z annually = a big friggin’ #
      • Market growing @ 100+% per year
  • 5. Business Model (How Do You Make Money?)
    • Describe Top 1-3 Sources of Revenue
      • Prioritize by Size or Potential
    • Common Revenue Models:
      • Direct : ecommerce, subscription, digital goods
      • Indirect : advertising, lead gen, affiliate
  • 6. Proprietary Technology / Expertise
    • VCs *really* like unfair advantages:
      • BIG market lead
      • experienced team
      • “ superior” technology
  • 7. Competition (why you’re better *or* different )
    • List *all* competitors
    • Show how you’re better …
    • … or at least different
      • if not better or different then
      • -> “NICHE TO WIN”
  • Better or Different . Funny! Shocking !!! Accepted Not Funny.
  • 8. Marketing Plan
    • PR
    • Contest
    • Biz Dev
    • Direct Marketing
    • Radio / TV / Print
    • Telemarketing
    • Email
    • SEO / SEM
    • Blogs / Bloggers
    • Viral / Referral
    • Affiliate / CPA
    • Widgets / Apps
    • LOLCats
    … how do you get customers & distribution ? lots of channels & decisions… choose a few :
  • 8. Marketing Plan
    • PR
    • Contests
    • Biz Dev
    • Direct Marketing
    • Radio / TV / Print
    • Telemarketing
    • Email
    • SEO / SEM
    • Blogs / Bloggers
    • Viral / Referral
    • Affiliate / CPA
    • Widgets / Apps
    … how do you get customers & distribution ? lots of channels & decisions… choose a few :
    • 3 Things That Matter / To Measure :
      • Volume
      • Cost
      • Conversion
  • 9. Team
    • People that get VCs Hot:
    • Geeks with deep tech experience
    • Entrepreneurs who have sold companies
    • Sales/Marketing who bring in customer$
  • 10. Money, Milestones
    • How Much Money ?
      • 3 Budgets: Small , Medium, Large
    • What will you do with Capital ?
      • New Hires (Build Product )
      • Mktg & Sales (Get Customers / $$$ )
      • Ops & Infrastructure ( Scale Up)