Pitching Hacks at Stanford

✌ Pitching Hacks

venturehacks.com @venturehacks #vh nivi@venturehacks.com

Premise - To get good terms, you need multiple offers - To get multiple offers, you need to tell a good story to several investors at the same time - Investors invest in stories, not businesses What you don't need - Business plan (nobody reads it) - Executive summary (nobody reads it) - NDA (no one will sign it) What you need (in order of importance) - Introduction (Typically an entrepreneur or investor) - High-concept pitch (3 words: “Flickr of video!”) - Elevator Pitch (100 words: “The team is great, it’s a huge market, we have traction, and so-and-so loves us.”) - 10-slide deck (20 minute pitch) - Getting past no (Read bit.ly/pmarca) Learn more - venturehacks.com/pitching

1. Traction

For investors, the product is nothing. — Marc Hedlund

2. Introductions

VCs are generally bombarded by requests for meetings, so a warm introduction helps an entrepreneur’s request ﬂoat to the top of the list. — Chris Wand

3. High-Concept Pitches

Summarize the company’s business on the back of a business card. — Sequoia Capital

“It’s Jaws in space!” “A bus with a bomb!” “Snakes on a plane!” “Bambi meets Terminator!”

“Friendster for dogs.” “Flickr for video.” “We network networks.” “The Firefox of media players.” “Massively Multiplayer Online Learning.” “The entrepreneurs behind the entrepreneurs.” “Create your own social network.” “Venture Hacks.”

4. Elevator Pitches

The elevator pitch forms everyone’s ﬁrst impression of your venture. It needn’t be a single sentence, but the delivery ought to be measured in seconds, not minutes — like any good TV or radio commercial. I know it sounds a little crazy, but I’ve come to believe that a clear, compelling elevator pitch is essential to growing a business. And I’ve paid dearly for the evidence. — David Cowan

Subject: Introducing Ning to Blue Shirt Capital Hi Steve, Before Ning, I started Netscape Thanks for offering to introduce (acquired by AOL for $4.2B) and us to Blue Shirt Capital. I've Opsware (acquired by HP for attached a short presentation $1.6B). about our company, Ning. Blue Shirt’s investments in Briefly, Ning lets you create your companies like Extensive own social network for anything. Enterprises tell me that they For free. In 2 minutes. It's as could be a great partner for Ning. easy as starting a blog. Try it We're starting meetings with at: http://ning.com investors next week, and I would love to show Blue Shirt what we're We built Ning to unlock the great building at Ning. ideas from people all over the world who want to use this amazing Best, medium in their lives. Marc Andreessen We have over 115,000 user-created xyz@ning.com networks, and our page views are 415.555.1212 growing 10% per week. We previously raised $44M from Legg Mason and others, including myself.

Subject: Introducing Ning to Blue We have over 115,000 user-created Shirt Capital [A useful subject networks, and our page views are line!] growing 10% per week. [Traction.] We previously raised $44M from Hi Steve, Legg Mason and others, including myself. [More traction and social Thanks for offering to introduce proof.] us to Blue Shirt Capital. [Reiterating the social proof of Before Ning, I started Netscape the introducer.] I've attached a (acquired by AOL for $4.2B) and short presentation about our Opsware (acquired by HP for company, Ning. [I attached a $1.6B). [Team’s past successes.] deck.] Blue Shirt’s investments in Briefly, Ning lets you create your companies like Extensive own social network for anything. Enterprises tell me that they For free. In 2 minutes. [What’s could be a great partner for Ning. the high concept pitch? What does [Why are you interested in this the product help the customer do? investor?] We're starting meetings Who is the customer?] It's as easy with investors next week, and I as starting a blog. [What's the would love to show Blue Shirt what metaphor?] Try it at: http:// we're building at Ning. [Call to ning.com [Link to the product, action and subtle scarcity.] screencast, or screenshots.] Best, We built Ning to unlock the great ideas from people all over the Marc Andreessen world who want to use this amazing xyz@ning.com medium in their lives. [What's the 415.555.1212 [Contact information big problem or opportunity?] — how thoughtful.]

5. Decks

1. Cover 2. Summary 3. Team 4. Problem 5. Solution 6. Technology 7. Marketing 8. Sales 9. Competition 10. Milestones 11. Conclusion 12. Financing

6. Business Plans

The best way to get our attention is not with a 100-page business plan. — Charles River Ventures

7. NDAs

You're going to have a hard enough time convincing your management team to work on the problem that you've decided to pursue, let alone having competitors go steal your idea and do the exact same thing. — Dharmesh Shah

venturehacks.com @venturehacks #vh nivi@venturehacks.com

Every startup has a chance to change the world, by bringing not just a new product, but an entirely new institution into existence. — Eric Ries

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Pitching Hacks at Stanford

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