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Startup Wednesday 5: Raising Finance & Pitching
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Startup Wednesday 5: Raising Finance & Pitching

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  • 1. Session 5 Raising Finance Pitching
  • 2. Some questions
    • Why should anyone else give you money?
    • Why shouldn’t they?
    • What can you do to make it easier for them to give you money?
  • 3. Sources of finance Existing angel investment, already profitable High level of potential return and customers already signed up A proven track record or security (eg a house) Good personal relationships Skill in completing application forms What do you need? Shares in your business Shares in your business Regular repayments at a set rate of interest Negotiable Free Cost? £200,000 or more £50,000-£200,000 Varies Up to £50,000 Up to £10,000 for students How much? Venture Capital Business Angels Banks Friends & Family Grants & competitions
  • 4. So how much money do you need? Add all the z's Thats how much money you need Q: How can you reduce this amount? z y Dec … z z z z Total costs … y y y y Monthly costs x Startup costs … Apr Mar Feb Jan
  • 5. Competitions and grants
    • One of the main ways for students to get initial funding
      • Usually small amounts (c. £1,000) but can help to unlock funding from other sources
    • Competitions are advertised at
      • www. royalhollowayentrepreneurs .com /competitions
    • Government grants are available from
      • www. businesslink .gov.uk/support
    • Grants for social enterprises and charities are at
      • www. fundingcentral .org.uk/
      • www. unltd .org.uk
    • Make sure you get advice on your application – you can book an appointment with me!
  • 6. Building business relationships
    • Many businesses minimise costs by bartering
      • Sharing office space
      • Promoting each other
      • Combining forces
    • You raise finance from friends and family and angel investors , and build business relationships with other companies by…
  • 7. Pitching
  • 8. Communications...
    • Are a key to success:
      • Career development
      • Promoting your ideas
      • Selling your services or products
      • Making an impact
    • The pitch is a key form of communication – master it!
  • 9. What is an elevator pitch?
    • Your 1 minute opportunity to:
      • Tell the story
      • Sell yourself or your idea
      • Make a date for a meeting
      • Leave a good impression
  • 10. What can I pitch? Myself for career opportunities My idea for feedback, partnership, support My product / service for sale My firm for support, investment, sale
  • 11. Who do I pitch to?
    • Business owners
    • Employers
    • Peers
    • The unexpected
  • 12. Key Content: My Proposition
    • Who am I?
    • What is the problem I’m solving?
    • How am I solving it?
    • Why is my solution likely to succeed?
    • What do I want from you?
    • What will success look like for both of us?
    • How will success shape the future?
  • 13. Who am I?
    • Hello, I’m John – John King
    • I help students at Royal Holloway to start their own businesses and to become more entrepreneurial
  • 14. What is the Problem I’m Solving?
    • Students sometimes don’t have the confidence or skills to achieve success.
    • They don’t know how to plug in to the right networks or how to make things happen.
    • Often, this means that they don’t persist in trying to realise their ambitions, or that they aren’t ambitious enough in the first place.
    • This is a tragedy for both the student and for society.
  • 15. How am I solving it?
    • I created Royal Holloway Entrepreneurs, a student-led organisation, which encourages more students to take part in enterprising activities.
    • I also launched Enterprise Lab, a business incubation service.
    • Finally I run intensive boot camps to make students more entrepreneurial.
  • 16. Why is my solution likely to succeed?
    • My strategy reaches out to more students than I could reach alone, and students listen to other students more than staff.
    • Research has proven that boot camps work.
    • And free incubation services are very useful when you have no money to start a business.
  • 17. What do I want from you?
    • I want you to join Royal Holloway Entrepreneurs by visiting the website at www.royalhollowayentrepreneurs.com
    • I am also looking for Royal Holloway students to help out with activities next year.
  • 18. What will success look like for both of us?
    • The more members we have, the stronger the organisation becomes.
    • This is good for you, because you will become part of a network of successful students, and will learn from helping other students to succeed.
    • This is good for me, because the more students that help, the more students will join.
  • 19. How will success shape the longer term?
    • Longer term, the society needs to become self-funding, and your efforts – to include more people and to help find funding for the society – will help make this happen.
    • The organisation could include every student at the College and become the strongest society in Europe.
  • 20. Write Your Pitch
    • Here’s your opportunity to get your pitch up to scratch:
      • Write your personal 1 minute pitch
    Exercise
  • 21. Key Content: My Proposition
    • Who am I?
    • What is the problem I’m solving?
    • How am I solving it?
    • Why is my solution likely to succeed?
    • What do I want from you?
    • What will success look like for both of us?
    • How will success shape the future?
  • 22. Perform Your Pitch
    • Now perform your pitch once to each other person in the room
      • Ask for their feedback
      • They will give constructive feedback and write notes on your worksheet
    Exercise
  • 23. Course programme 2pm-4pm in Arts Building S21 Finding role models and teams 20 Oct 1 Generating ideas 10 Nov 2 Planning your first year 24 Nov 3 Branding and building a website 8 Dec 4 Pitching and raising finance 12 Jan 5 Marketing and PR for startups 26 Jan 6 Selling and negotiating 9 Feb 7 Accounting and legal issues 23 Feb 8 Running an office and bookkeeping 9 Mar 9