How to pitch a          VC?Miguel AriasMarch 25th, 2011@mike_arias
erasmus services
university job fairs
Key elements  Elevator pitch - 60 sec quick pitch  The money shot - Demo  Size Matters - Market  Nice Number$ - Customers&...
An example http://www.emprendedorestv.com/canal/52/entrepreneurs
Be a VCfor 1 day
Pitching    time
Real case   study
Virtual events get realMiguel AriasCTO - Founder                  marias@imaste-ips.com / Do not distribute this information
Company  purpose &Elevator pitch
marias@imaste-ips.com / Do not distribute this information
Painkillerwhat is the problem we try         to solve?
The problem - painkiller  Make it obvious  Who has it?  Why is your solution:    Making customers Happy    Does it better,...
Show that you have areal product or atangible prototype
Virtual fairs platform DEMO                              marias@imaste-ips.com / Do not distribute this information
Do you have a  great team &tested structure?
People that getVCs HOT:Techie geeksEntrepreneurs with exitsSales guys with customers
IMASTE fact sheetFounders                                        Key employees                Founded in 2004 Madrid based...
How are you going tomake money?    Is it already  working?
Business modelDescribe   top 1-3 sources of revenueAre you BtoB, BtoC?Which are your cost drivers?
IMASTE numbers                                   Physical events           Virtual events                                 ...
Some don´tsBe too optimistic Divide sales projections/10Show many tables & graphsMake the model too complex
Are youambitious? How global is your project?
International presenceMilestones125          successful events in more than     20             countries Multi           e...
Market share & diversificationMilestones 2.300             70                                                   25%       ...
Marketmy time?is this worth              size,
Market size Bigger is better  Someone else reported it (Forrester, Gartner, mom)  You have some great calculations based o...
How credible are you?     Who are your  customers &   partners?
Partners & CustomersPartners        Customers                                                       1.000 US$MM           ...
Competitionwhy do you think you can   do better!
Competitive advantageApproach  Physical event specialists - Agency approach  Technologically advanced platform  Leaders in...
Some don´tsTell you have NO competitionForget a relevant competitorBe unclear about your advantage
Nice, but what do you need  my money for,& what is your vision?
Where we are goingStrategy Europe & South America focus Sector & vertical diversification Web portals partnerships Convent...
Money, milestones Present product roadmap Have different scenarios Show how you can scale!!
ContactMiguel Arias CTO - Co-founder marias@imaste-ips.com +34 91 5360503 twitter: mike_ariasWeb presence http://www.imast...
Other ask for, they could            infobe prepared!
IMASTE virtual fair proposalTECHNOLOGY             marias@imaste-ips.com / Do not distribute this information
VCs like unfairadvantagesBig market leadExperienced teamSuperior technology
ServerClient         marias@imaste-ips.com / Do not distribute this information
DISTRIBUTION MODELMARKETING PLAN                marias@imaste-ips.com / Do not distribute this information
Marketing planChoose only a fewdistribution channels:PR, Email, SEO/SEM, Blogs, Viral,Radio/TV, Biz Dev, Partners,Widget/A...
Marketing plan3 things to measure! Generated volume Cost per user Conversion rates
Conception - Development of the business model 3D development - Web design - Database and Interface programming Content an...
TEAM STRUCTURE                 marias@imaste-ips.com / Do not distribute this information
Managing team                                                       Ext & Int                                             ...
Pitching tips
Pitching tips No expert jargon - KISS Have fun!!! - Be passionate Practice & practice!!! Demo will fail - Have a backup (v...
Pitching tips Know who you are talking to  Public sector - Focus on employment  F,F&Fs - Focus on trust generation  VCs - ...
The script is NOT   your slidesThe script is the FACE of your   audience
There are    It is allno magic      about pitching   common recipes      sense
Believe me,It´s worth it!!
More resources •    Dave McClure:       –  Startup Metrics for Pirates (AARRR!)       –  ZapMeals Sample Pitch Presentatio...
How to pitch a VC
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How to pitch a VC

  1. 1. How to pitch a VC?Miguel AriasMarch 25th, 2011@mike_arias
  2. 2. erasmus services
  3. 3. university job fairs
  4. 4. Key elements Elevator pitch - 60 sec quick pitch The money shot - Demo Size Matters - Market Nice Number$ - Customers&revenue SuperHeroes & Rockstars
  5. 5. An example http://www.emprendedorestv.com/canal/52/entrepreneurs
  6. 6. Be a VCfor 1 day
  7. 7. Pitching time
  8. 8. Real case study
  9. 9. Virtual events get realMiguel AriasCTO - Founder marias@imaste-ips.com / Do not distribute this information
  10. 10. Company purpose &Elevator pitch
  11. 11. marias@imaste-ips.com / Do not distribute this information
  12. 12. Painkillerwhat is the problem we try to solve?
  13. 13. The problem - painkiller Make it obvious Who has it? Why is your solution: Making customers Happy Does it better, different
  14. 14. Show that you have areal product or atangible prototype
  15. 15. Virtual fairs platform DEMO marias@imaste-ips.com / Do not distribute this information
  16. 16. Do you have a great team &tested structure?
  17. 17. People that getVCs HOT:Techie geeksEntrepreneurs with exitsSales guys with customers
  18. 18. IMASTE fact sheetFounders Key employees Founded in 2004 Madrid based Total Headcount 30 Alberto Perez Senior Frontend Engineer Aitor Zabala COO Daniel Olmos Angel Palomino Video - 3D Responsible Chief Architect Miguel Arias CTO Elena Díaz Ivan Benito Operations Manager Senior Backend Engineer Miguel Fernández Biz Dev Responsible David Mota Patricia Peña UX Responsible PR ManagerInvestors & Funding Technology 1.0 MM$ Bootstrapped resources Adobe Flex, AS3, Java 0,15 MM$ Debt finance Hybrid HTML & Flash providing real time interaction SaaS delivery model - Cloud based 0,45 MM$ Convertible loan Series A @ ENISA No plugins - Enhanced performance Potentially raising 2 MM$ Series B @ BAngels marias@imaste-ips.com / Do not distribute this information
  19. 19. How are you going tomake money? Is it already working?
  20. 20. Business modelDescribe top 1-3 sources of revenueAre you BtoB, BtoC?Which are your cost drivers?
  21. 21. IMASTE numbers Physical events Virtual events 6 Revenue -- MM$ 2010 4,5 US$ 4,5M 3 US$ 0,8M Profitable status US$ 2,8M 1,5 US$ 0,9M US$ 1,2M US$ 2,5MBusiness Model US$ 1,4M US$ 1,2M US$ 1,2M US$ 1,2M 0 2008 2009 2010 2011 201220.000 $ avge platform prize Activity 30 % of virtual event total cost 10 days of event´s duration 90.000 attendees per event 850.000 monthly aggregated usersDevelopment 45 exhibitors per event 8 major releases IMASTEBOX 2.0 launched Dec 2010 280 total active customers marias@imaste-ips.com / Do not distribute this information
  22. 22. Some don´tsBe too optimistic Divide sales projections/10Show many tables & graphsMake the model too complex
  23. 23. Are youambitious? How global is your project?
  24. 24. International presenceMilestones125 successful events in more than 20 countries Multi english, french, spanish, german, portuguese, czech, hungarian, language polish, swedish, finish, croatian versions available marias@imaste-ips.com / Do not distribute this information
  25. 25. Market share & diversificationMilestones 2.300 70 25% 200 40% 1.725 5% 35% 1.150 30% 2011 1.750 65% 575 Job Fairs Trade shows Corporate events 2011 IMASTE EUROPE 2010 US & ASIA marias@imaste-ips.com / Do not distribute this information
  26. 26. Marketmy time?is this worth size,
  27. 27. Market size Bigger is better Someone else reported it (Forrester, Gartner, mom) You have some great calculations based on: Usage metrics & revenue per user Show astonishing growing TRENDS
  28. 28. How credible are you? Who are your customers & partners?
  29. 29. Partners & CustomersPartners Customers 1.000 US$MM 1000 GLOBAL EUROPE 750 500 250 200 US$MM 150 US$MM 70 US$MM 5 US$MM 15 US$MM 0 2010 2011 2014 “IMASTE’s platform is battle-tested for scale...” Jennifer BelissentTech partners “Virtual Conf & trade show market $18,6 Billion in 2010-2015” and many more... marias@imaste-ips.com / Do not distribute this information
  30. 30. Competitionwhy do you think you can do better!
  31. 31. Competitive advantageApproach Physical event specialists - Agency approach Technologically advanced platform Leaders in Europe (no timezone gap) Customer service & support - Customisation Solid partners & customer referencesAwards Red Herring Global 100 Awards finalist Spanish young entrepreneur 2010 finalist Red Herring Europe 100 Awards finalist European seal of e-excellence Platinum marias@imaste-ips.com / Do not distribute this information
  32. 32. Some don´tsTell you have NO competitionForget a relevant competitorBe unclear about your advantage
  33. 33. Nice, but what do you need my money for,& what is your vision?
  34. 34. Where we are goingStrategy Europe & South America focus Sector & vertical diversification Web portals partnerships Convention centre partnershipsTechnology Networking & meeting tools API integration of third parties Enhanced real time interactionNeeds Fully focused R&D team Increase production capabilities Agressive sales strategy & PR marias@imaste-ips.com / Do not distribute this information
  35. 35. Money, milestones Present product roadmap Have different scenarios Show how you can scale!!
  36. 36. ContactMiguel Arias CTO - Co-founder marias@imaste-ips.com +34 91 5360503 twitter: mike_ariasWeb presence http://www.imaste-ips.com http://blog.imaste-ips.com twitter: imasteipsDEMO sites http://demo.imaste-ips.com http://newdemo.imaste-ips.com marias@imaste-ips.com / Do not distribute this information
  37. 37. Other ask for, they could infobe prepared!
  38. 38. IMASTE virtual fair proposalTECHNOLOGY marias@imaste-ips.com / Do not distribute this information
  39. 39. VCs like unfairadvantagesBig market leadExperienced teamSuperior technology
  40. 40. ServerClient marias@imaste-ips.com / Do not distribute this information
  41. 41. DISTRIBUTION MODELMARKETING PLAN marias@imaste-ips.com / Do not distribute this information
  42. 42. Marketing planChoose only a fewdistribution channels:PR, Email, SEO/SEM, Blogs, Viral,Radio/TV, Biz Dev, Partners,Widget/Apps, Contests...
  43. 43. Marketing plan3 things to measure! Generated volume Cost per user Conversion rates
  44. 44. Conception - Development of the business model 3D development - Web design - Database and Interface programming Content and language adaptation - Data structure adaptation Technical support - Technical assessment and consulting Evolution of the platformPartner Sales Promotion among seekers Web traffic generation -Media Promotion - Communication Logistics - Customer service Online Event management Backoffice support to manage the fair´s contents marias@imaste-ips.com / Do not distribute this information
  45. 45. TEAM STRUCTURE marias@imaste-ips.com / Do not distribute this information
  46. 46. Managing team Ext & Int communication Operations Sales Product & TechnologyVirtual & Physical event Customer care Partnerships Interaction Country Managers R&D Developer Logistics service & Alliances Team Team Team Financing and accounting control General administration Free - lances marias@imaste-ips.com / Do not distribute this information
  47. 47. Pitching tips
  48. 48. Pitching tips No expert jargon - KISS Have fun!!! - Be passionate Practice & practice!!! Demo will fail - Have a backup (video!) Expect to be interrupted
  49. 49. Pitching tips Know who you are talking to Public sector - Focus on employment F,F&Fs - Focus on trust generation VCs - Focus on Risk assesment & growth What money do you want?
  50. 50. The script is NOT your slidesThe script is the FACE of your audience
  51. 51. There are It is allno magic about pitching common recipes sense
  52. 52. Believe me,It´s worth it!!
  53. 53. More 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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