How to Pitch a VC      (or Angel Investor)              Dave McClure   Founding Partner & Sith Lord, 500 Startups    Colum...
WARNING:this deck is guaranteed to offend,provide tragically incorrect advice,  and perhaps get you arrested.            d...
Essential Elements of your Pitch•   Elevator Ride (30-sec quick pitch)•   The Money Shot (demo)•   Size Matters (market)• ...
Pitch MY PROBLEM                       Post: “ (not YOUR SOLUTION)   Your Solution is Not My Pr                       ”
[Pardon The Blatant Commercial]
Dave McClure                 Founding Partner, 500 Startups00’s & 10’s:• Investor: Founders Fund, Facebook fbFund, 500 Sta...
500 Startups Seed Fund            Mountain View, CA – Founded 2010• Seed Fund & Startup Accelerator  – 10,000 sq ft / Sili...
[How to Pitch a VC (or Angel)]
10 Slides to an Awesome Pitch                     Teaser Image                      Goes Here1. Elevator Pitch            ...
10 Slides to an Awesome Pitch                      Teaser Image                       Goes Here1. Elevator Pitch          ...
1. The Elevator Pitch (only 30 sec!)• Short, Simple, Memorable:   – “What, How, Why.”• 3 key words or phrases   – “Mint.co...
2. The Problem• What is The Problem? … Make it Obvious.    – “Ouch. Yeah, I have that too…”• Who has it?• “Painkiller not ...
Pitch MY PROBLEM       Post: “ (not YOUR SOLUTION)   Your Solution is Not My P                       ”
3. Your Solution• Great Products & Companies do 1+ of 3 things:  – Get You LAID (= sex)  – Get You PAID (= money)  – Get Y...
3. Your Solution• Great Companies do 1+ of 3 things:   – Get you LAID (= sex)   – Get you PAID (= money)   – Get you MADE ...
[ The Money Shot ]                                                        •   http://Jing.com   Demo                      ...
[ The Money Shot ]                                                        •   http://Jing.com   Demo                      ...
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 =...
5. Business Model                     (How Do You Make Money?)•   Describe Top 1-3 Sources of Revenue    – Prioritize by S...
6. Proprietary Technology / Expertise• VCs *really* like unfair advantages:   – BIG market lead   – experienced team   – “...
7. Competition                    (why you’re better *or* different)•    List *all* competitors•    Show how you’re better...
Better or Different.                 Funny!Accepted                                  Shocking                             ...
8. Marketing Plan… how do you get customers & distribution?lots of channels & decisions… choose a few:   •   PR           ...
8. Marketing Plan… how do you get customers & distribution?lots of channels & decisions… choose a few:   •   PR           ...
9. TeamPeople that VCs want to see on your team:• Geeks with deep tech experience• Entrepreneurs who have sold companies• ...
10. Money, Milestones•   How Much Money?    – 3 Budgets: Small, Medium, Large•   What will you do with Capital?    – New H...
Additional Resources•   Dave McClure:     – Startup Metrics for Pirates (AARRR!)     – ZapMeals Sample Pitch Presentation ...
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How to Pitch a VC (or Angel)

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slides from my talk on "How to Pitch a VC" from Startup Weekend Columbus (June 30, 2012)

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How to Pitch a VC (or Angel)

  1. 1. How to Pitch a VC (or Angel Investor) Dave McClure Founding Partner & Sith Lord, 500 Startups Columbus Startup Weekend, June 2012 @DaveMcClure
  2. 2. WARNING:this deck is guaranteed to offend,provide tragically incorrect advice, and perhaps get you arrested. deal with it.
  3. 3. 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.
  4. 4. Pitch MY PROBLEM Post: “ (not YOUR SOLUTION) Your Solution is Not My Pr ”
  5. 5. [Pardon The Blatant Commercial]
  6. 6. Dave McClure Founding Partner, 500 Startups00’s & 10’s:• Investor: Founders Fund, Facebook fbFund, 500 Startups• Companies: Mint.com, SlideShare, Twilio, WildFire, SendGrid• Marketing: PayPal, Simply Hired, Mint.com, O’Reilly Media• Speaker: Lean Startup, Web 2.0, Stanford/Facebook80’s & 90’s:• Entrepreneur: Founder/CEO Aslan Computing (acq’d)• Developer: Windows / SQL DB consultant (Intel, MSFT)• Engineer: Johns Hopkins‘88, BS Eng / Applied Math
  7. 7. 500 Startups Seed Fund Mountain View, CA – Founded 2010• Seed Fund & Startup Accelerator – 10,000 sq ft / Silicon Valley HQ• Design, Distribution, Data• 325+ Portfolio Companies – Twilio – Wildfire – SendGrid – TaskRabbit – MakerBot – Smule – 9GAG 
  8. 8. [How to Pitch a VC (or Angel)]
  9. 9. 10 Slides to an Awesome Pitch Teaser Image Goes Here1. Elevator Pitch 6. Proprietary Tech2. The Problem 7. Competition3. Your Solution Demo 8. Marketing Plan Goes Here4. Market Size 9. Team / Hires5. Business Model ($) 10. Money / Milestones
  10. 10. 10 Slides to an Awesome Pitch Teaser Image Goes Here1. Elevator Pitch 6. Proprietary Tech2. The Problem 7. Competition3. Your Solution Demo 8. Marketing Plan Goes Here4. Market Size 9. Team / Hires5. Business Model ($) 10. Money / Milestones The Money Shot: Business Demo Metrics Cu$tomer Screen Shots (NOT Revenue Testimonial$ Video Projections) “This Shit Rocks.”
  11. 11. 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 ------> )
  12. 12. 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”
  13. 13. Pitch MY PROBLEM Post: “ (not YOUR SOLUTION) Your Solution is Not My P ”
  14. 14. 3. Your Solution• Great Products & Companies do 1+ of 3 things: – Get You LAID (= sex) – Get You PAID (= money) – Get You MADE (= power)
  15. 15. 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)
  16. 16. [ The Money Shot ] • http://Jing.com Demo • • http://ScreenCast.com http://Flickr.comScreen Shots • http://YouTube.com • http://Scribd.com Video • http://SlideShare.com• PRACTICE! PRACTICE! PRACTICE!• demo will FAIL -- have a backup (screenshots, local video, interpretive dance)• expect to be interrupted
  17. 17. [ The Money Shot ] • http://Jing.com Demo • • http://ScreenCast.com http://Flickr.comScreen Shots • http://YouTube.com • http://Scribd.com Video • http://SlideShare.com• PRACTICE! PRACTICE! PRACTICE!• demo will FAIL -- have a backup (screenshots, local video, interpretive dance)• expect to be interruptedand remember:• The Script is NOT your Slides – The Script is the FACE of your Audience
  18. 18. 4. Market Size• Bigger is Better• Top Down = someone else reported it – Forrester, Gartner, Your Uncle
  19. 19. 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 = $X * Y * Z annually = a big friggin’ # – Market growing @ 100+% per year
  20. 20. 5. Business Model (How Do You Make Money?)• Describe Top 1-3 Sources of Revenue – Prioritize by Size or Potential• Common Revenue Models: – Direct: ecommerce, subscription, digital goods – Indirect: advertising, lead gen, affiliate
  21. 21. 6. Proprietary Technology / Expertise• VCs *really* like unfair advantages: – BIG market lead – experienced team – “superior” technology
  22. 22. 7. Competition (why you’re better *or* different)• List *all* competitors• Show how you’re better… … or at least different if not better or different then -> “NICHE TO WIN”
  23. 23. Better or Different. Funny!Accepted Shocking !!! Not Funny.
  24. 24. 8. Marketing Plan… how do you get customers & distribution?lots of channels & decisions… choose a few: • PR • Email • Contest • SEO / SEM • Biz Dev • Blogs / Bloggers • Direct Marketing • Viral / Referral • Radio / TV / Print • Affiliate / CPA • Telemarketing • Widgets / Apps • LOLCats
  25. 25. 8. Marketing Plan… how do you get customers & distribution?lots of channels & decisions… choose a few: • PR • Email • Contests • SEO / SEM • Biz Dev • Blogs / Bloggers • Direct Marketing • Viral / Referral • Radio / TV / Print • Affiliate / CPA • Telemarketing • Widgets / Apps 3 Things That Matter / To Measure : 1. Volume 2. Cost 3. Conversion
  26. 26. 9. TeamPeople that VCs want to see on your team:• Geeks with deep tech experience• Entrepreneurs who have sold companies• Sales/Marketing who bring in customer$
  27. 27. 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)
  28. 28. 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
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