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PhoenixGMN Practical Funding And Pitch Advice For App Startups And Entrepreneurs
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PhoenixGMN Practical Funding And Pitch Advice For App Startups And Entrepreneurs

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In this part 3 of three part series delivered by PhoenixGMN consultant Navin Arora, the audience is presented with very practical advice about how to approach angels for funding using pitched and …

In this part 3 of three part series delivered by PhoenixGMN consultant Navin Arora, the audience is presented with very practical advice about how to approach angels for funding using pitched and business plans. What is a good pitch and business plan. etc.

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  • 1. Apps Available on iPhone, Android, Blackberry, Win Pho Creator of Appsjunction.net - A Revolutionary Crowd Funding and Freelancers Platform
  • 2. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Part 1 How to proceed with an idea Part 2 App Marketing – Buzz & Promotions Part 3 Funding for App Entrepreneurs Navin Arora Mobile Apps Consultant Top Projects – Nectar App, Argos iPhone & iPad Apps, Barclays Pingit PhoenixGMN – Provides App Development support to all sizes of businesses in UK PhoenixGMN – Provides Consultants to some of the very well known brands in UK
  • 3. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Got an idea? In a perfect (dream?) world.. Run to AppsJunction to find an iPhone developer In 6-8 weeks, App goes Live! Make him agree on You keep 70% & he keeps 30% He works for free. You’re a Millionaire!
  • 4. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. If someone says Funding for Apps! I have an idea and a painting (equivalent to wireframe) of a chicken farm in scottish highlands. I need someone to buy me the land (investor) and someone to farm it (developer) for me. Would you invest in it? 1) Wireframes and MVP usually only get funding if you have been a millioniare entrepreneur before and commiting your own money in idea. Just like buying a new farm on mortgage. 2) Or join an incubator, polish it up, launch and show traction
  • 5. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Startup Facts Funding for Apps! Just an ”idea” is worth nothing. Equity in an idea is no good for investors or app developers. 99.99% App Developers don’t work for free. MVP rarely gets funding (explained later) 300000+ apps on itunes appstore. All started with a great idea Very few make decent recurring enough profit to present to Angels. Investors look for? 1) Experienced team 2) Traction & IP protection 3) Real market problem solved 4) Founder’s own money in it 5) Numbers should match 6) Competiton research done 7) Entrepreneurs who are not at beginner level – don’t need much schooling.
  • 6. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. From idea to funding – PhoenixGMN can help at every step Got an Idea? What next.. 1. Make App Requirements document with user journey steps – its your responsibility not the geek’s. Spend good time on this Key document 2. Prepare Wireframes & Graphic Designs – Google free tools like ”Justinmind”, ”Axure”, ”Balsamiq”, ”Moqups” etc ! 3. Get quotes from iPhone/Android Freelancer + Web Services Freelancer to build an MVP - an iOS Dev is not a tech cofounder or CTO. Arrange for initial funds from savings, friends Or family, crowd funding sites, cheap bank loans etc 4. Sort out at least a VPS Linux Apache Server for Web Services & DB server . No server = No emails from App, no push notifications, no signup details storage 5. Create a company with legal help, then Register it with app stores 6. Launch MVP as beta launch – use launching site- use SMM- get feedback 7. Fix feedback –> launch public –> market well -> wait for some traction-> find experienced cofounder who knows business execution & investment -> make business plans -> join incubators or approach angels.
  • 7. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. AppsJunction Members launch site examples App Launch Sites- spread the word.. 1. http://whemsy.com 2. http://streetscoutapp.com/ 3. http://seesnap.co.uk/ 4. http://www.tonightapp.com/ 5. http://uinterestme.com/ 6. http://PoshCrowd.com * Get cheap themes from themeforest.com. Make a responsive (any device) website and do some basic organic SEO (analytics, keywords, blogs, social media)
  • 8. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Legal Help - Affordable for SMEs and Startups Got an Idea? What next.. 1. mbuckworth@buckworthsolicitors.co.uk - a very supportive law firm for SMEs – comes highly recommended 2. http://bit.ly/NDA_article - Download a free NDA via this link. 3. william.robins@keystonelaw.co.uk - Affordable for SMEs 4. http://www.bootlaw.com/ - Lawyers for Startups, helping with legal issues and possibly investments etc managed by bvitou@winston.com , dbaillieu@winston.com 5. http://www.taylorwessing.com/twtechfocus/ - Free Legal Documents 6. http://www.lawbit.co.uk/legal-documents - documents and legal advice
  • 9. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Top Investor Questions after seeing your Pitch/Business Plan Business Plans & Pitches.. • What makes you different? • Who is the competition? • How will you make money? • What do you want? • Why should we believe you? N.B. If you are asked one of these questions you have not got your message across!
  • 10. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. So what should you put in? key areas Business Plans & Pitches.. You will have 3 minutes for a pitch! We recommend 5 key themes •Identified market gap, problem i.e. what is the opportunity •Your solution •How you’ll make money – Running Cost, CPAs etc •Why anyone should work with you / reassurance •What you want
  • 11. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. How to Put the pitch together Business Plans & Pitches.. Step 1 = Brainstorm Step 2 = Select and reject Step 3 = Structure Step 4 = Produce visual aids and support Start with the brainstorm not PowerPoint!!
  • 12. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Pitch - Brain Storm - 1 Business Plans & Pitches.. For each theme / key area, brainstorm everything you could include •Identified gap, problem or opportunity – Research? Market definition? Competition? Target market? What is the problem / need? •Your solution – What are you selling? Why does it work? What makes you different / unique? How do you win Vs competition?
  • 13. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Pitch - Brain Storm - 2 Business Plans & Pitches.. How you’ll make money – Income streams, business model Why anyone should work with you – Your research? PHD? Serial entrepreneur? Case histories? Recognisable clients? Track record? Proof of concept? What you want – what is your objective? What are you looking for? Call to action?
  • 14. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Structure The Pitch Business Plans & Pitches.. Every pitch should have •An introduction •A main body covering the 5 themes •A summary
  • 15. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Structure The Pitch Business Plans & Pitches.. For each of the 5 key themes, what are the 2 or 3 key points? Market Gap? Your Solution? Make Money? Why You? What do You Want?
  • 16. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Pitch - Introduction Business Plans & Pitches.. Over your title slide – name and company Do Introduce yourself Tell them what you want and what you will talk about Make your presence felt Don’t Crack a joke, ask a question Never apologise
  • 17. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Pitch - Summary Business Plans & Pitches.. Over the summary and action slide Summarise your key messages Stress what you are looking for Thank them for listening Take any questions
  • 18. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Pitch - Summary so far Business Plans & Pitches.. •Everyone is nervous – practice it before •You have 3 minutes •To make an impact •To get your message across •and make them want to talk further! •Restrict your content to short, motivating messages! •Should have a 1 page teaser/executive summary ready in networking meets and to participate in pitching competition •Should have a serious 4 page business plan ready for serious mailing to Angels.
  • 19. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. A Good Executive Summary Content Business Plans & Pitches.. 1. Punch line – 1 line USP 2. Company/Concept Introduction 3. The Opportunity – market size, competitive advantage, business model 4. Company Milestones – previous funding, orders, MOUs 5. Marketing/Execution Plan, SWOT analyses. 6. Management Team – short but smart into 7. Financials – Amount Sought, Exit plan, Objectives of financing & Revenue forecast for current + 5 years PhoenixGMN can help you build this and expanded 4 page Business Plan for a fixed fee.
  • 20. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Google about fundraising and prepare better More Resources.. 1. Blog post A fundraising Survival Guide from Paul Graham as its quite relevant 2. Mark Suster makes some sound observations around building relationships and continuing a dialogue with investors in his blog “Lines not Dots” found - http://www.bothsidesofthetable.com/ 3. How to Pitch to an Investor by Simon Devonshire
  • 21. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Venture Capital Houses.. · MMC Ventures · Dawn Capital · Eden Ventures · Spark Ventures · YFM Group · Solon Ventures · Pro-Founder Capital · Bridge Ventures · Albion Ventures · Passion Capital · Index Ventures · Accel · DN Capital · Balderton · Wellington Partners · Advent Ventures · Pentech Ventures · Greylock Europe · Piton Capital
  • 22. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Angel Networks / Angel funds.. · British Business Angels Association · OION · Cambridge Angels · Envestors · London Business Angels · Robin Klein · Wren Capital · EC1 Capital · Angel List · www.angelcofund.com - The fund is able to make initial equity investments of between £100k and £1m in to SMEs alongside syndicates of business angels
  • 23. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Incubators Or Accelerators.. •· Springboard •· Seed Camp •· Oxygen •· Innovation Warehouse •· Wayra •· Entrepreneurial Spark • Rainmaking Loft • TechStars London & Microsoft Ventures
  • 24. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Other Funding Sources/Grants.. · The Technology Strategy Board · European Framework Grants · PERA · Big Venture Challenge For a comprehensive list of Grants & Funders please visit www.bvca.co.uk Crowd Funding Platforms • Indiegogo.com • Appsjunction.net Freelancer Platforms • Elance, oDesk, Freelancer •Appsjunction.net
  • 25. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Financiers to close complex deals.. · Simon Carmichael – Torch Partners · Matthew Byatt – Beanstalk Management · Stuart McKnight – Ascendant Corporate Finance · Frank Schmitt – GP Bullhound · Garth Shephard – Opus Corporate Finance · James Thomas – Icon Corporate Finance · Martin Fiennes – Gatehouse Capital
  • 26. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. • MVP/Prototypes from £1500* •App UX design from £400 • Explainer Videos from £500 •App Promotion & PR Packages from £500 •Great Quality Business Plan from £300 •App Launch websites from £300 •2nd OS App for 50% cost of first OS App •Advice to make & publish an awesome app - FREE Note: *Depending on specs MVP can cost from £1500-£10000 Have an App Idea? Need a Quote?
  • 27. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Please go through “How to go about an App Idea guide” Google “PhoenixGMN slideshare guide” Have an App Idea? Need Advice? http://www.slideshare.net/phoenixgmn/phoe nixgmn-how-to-go-about-an-app-idea-guide Feedback: "There is good advice in here. We've spent 6 months building an app and have made many (expensive) mistakes. It's hard to find resources that you should listen to and follow. This one is 90% bang on." - Alex Powell
  • 28. Phoenix GMN Ltd Every Phenomenon Begins Somewhere.. Is your app idea worth it? Then contact us… Contact & Feedback Tel: +44-844-330-1947, Skype:PhoenixGMN Email : info@phoenixgmn.com Twitter: @PhoenixGMN Flagship Portal: www.appsjunction.net Apps: Portfolio at www.superhitapps.com AppsJunction.net – A leading crowd funding & freelance projects platform Our Mantra: The difficult, we do immediately.. Impossible just takes a little longer...

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