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How To Pitch a VC (or Angel)
 

How To Pitch a VC (or Angel)

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slides from my talk at Startup Weekend Sao Paulo #SWSP (Nov 2011)

slides from my talk at Startup Weekend Sao Paulo #SWSP (Nov 2011)

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    How To Pitch a VC (or Angel) How To Pitch a VC (or Angel) Presentation Transcript

    • How to Pitch a VC Startup Weekend Sao Paulo (# SWSP ) Dave McClure 500 Startups , Master of 500 Hats ESPM, Sao Paulo, Nov 2011 [email_address] / @DaveMcClure
    • WARNING : this deck is guaranteed to offend , provide tragically incorrect advice, and perhaps get you arrested . so fucking deal with it.
    • 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.
    • Pitch MY PROBLEM (not YOUR SOLUTION ) Post: “ Your Solution is Not My Problem ”
    • [Pardon The Blatant Commercial ]
    • Dave McClure
        • 2001-2009:
        • Startup Investor: 500 Hats LLC, Founders Fund
        • Tech Marketing : PayPal, Simply Hired, Mint
        • Advisor, Angel Investor : 200+ 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
    • 500 Startups Seed Fund Mountain View, CA – Founded 2010
      • Seed Fund & Startup Accelerator
        • 10,000 sq ft / Silicon Valley HQ
      • Design , Distribution , Data
      • 230+ Portfolio Companies
        • Twilio
        • Wildfire
        • SendGrid
        • Viva Real
        • Co lingo
        • SlideShare
        • KISSmetrics
    • [How to Pitch a VC (or Angel)]
    • 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 ”
    • Pitch MY PROBLEM (not YOUR SOLUTION ) 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)
    • Financing
      • Raised $50-100K Seed round Jan 08 @ $1M valuation
        • angel investors: any notables? invested in other co ’s? other winners?
        • built initial prototype; functional use with 100-1,000 customers
      • Seeking $250K-$1M Series A round @ $2.5M valuation
        • already closed $300K
        • meetings with 5 other VCs in next 2 weeks
        • targeted closing in 4 weeks
      • Use of Proceeds / Product Roadmap / Goals
        • $100-500K: hire 2-3 engineers, 1 marketing / sales, .5 PT customer support
        • $100-500K: marketing campaigns & customer acquisition
        • get to 25K customers, $1M revenue by end of year
        • estimated break-even in Q4 / 09 @ $100K / month
    • Additional Resources
      • Dave McClure :
        • Startup Metrics for Pirates ( AARRR !)
        • ZapMeals Sample Pitch Presentation
        • Master of 500 Hats Blog: “ Greatest Hats ” (top blog posts)
      • Steve Blank : 4 Steps to Epiphany, Customer Development Methodology
      • Eric Ries : StartupLessonsLearned
      • Sean Ellis : Startup-Marketing.com
      • Andrew Chen : AndrewChenBlog.com
      • Brad Feld, Jason Mendelson : AskTheVC.com
      • Aydin Senkut : Felicis Ventures blog
      • Mark Suster : Both Sides of the Table
      • VentureHacks.com
      • StartupCompanyLawyer.com
    • [ Don ’t Pitch Me, Bro. ] srsly: don’t. fucking. pitch. me. (and don’ t email me either, cuz i won’t read it)
    • Don ’t Pitch Me, Bro.
      • 1 st : Read my stuff (blogs, decks, tweets).
      • 2 nd : Get a referral from someone I trust .
        • 500 Mentors or 500 Founders
        • Other Subject Matter Experts
        • *Not* Your Mom.
      • 3 rd : Be Concise. Don ’t Suck .
      Email B E D Y 