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Essentials of a seed pitch deck

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Essentials of a seed pitch deck

  1. 1. Investor pitch deck 101 Generator THE powered by
  2. 2. Get their Attention Passionately & clearly communicate a vision Don’t oversell - investors can easily see through crap Focus on your strengths & remain candid ShowGrowth, Opportunity &Passion,ButDon’tOversellIt Send one or two high-level members of your team, not the whole crew Stay Intimate An exceptional entrepreneur or team who has experience and drive Large enough and interesting enough market opportunities A smart, differentiated, and defensible product/service that will stand out initially in its market and be able to protect its margins over time
  3. 3. Investment Readiness Level9. Plausible exit 8. Cash to exit 7. Unit economics – margin validated 6. Reimbursement 5. Regulatory certainty/difficulty 4. IP: Patentability, FTO & block 3. Attractive solution & ID of MVP 2. Compelling clinical need + large market 1. Effective team
  4. 4. Conversational
  5. 5. • Regurgitation of business plan or technology roadmap • A sales pitch • A brainstorming tool or a way to collect your thoughts Whata pitchdeck isn’t...
  6. 6. • The Big Idea • The Problem • The Solution • The Market • Market Adoption • Business Model • Proprietary Technology • Competition • Competitive Advantages • Traction/Validation • Milestones • Regulatory & Reimbursement Strategy • Who We Are • Press/Testimonials • Financials • The Ask • Summary 10-15SlidesChoose Wisely!
  7. 7. 0.Cover Slide
  8. 8. Tagline Think about including keyinformation like name, title, email, mobile phonenumber
  9. 9. 1.The Big Idea
  10. 10. Bold, declarative statement. Ambitious. Big.
  11. 11. 2.The Problem
  12. 12. • Frustration? What is broken? • Why should your product exist? • What’s the opportunity? Current Pain
  13. 13. 3.The Solution
  14. 14. Your Product • Show how your product works in 3 easy steps – Describe your product, including key differentiators – Describe the non-confidentialmechanism of action – Secret sauce or magic? • Break to demo if its short and worth emphasising one or two key insights or features – Tell a story – future client or an example of a current client
  15. 15. What macro-trends, new enabling technologies, etc. give you a chance to succeed when others who tackled this pain point have failed Only Possible Now
  16. 16. 4.Proprietary Tech
  17. 17. • Status of any patent filings (issued, applications) • Details of any license agreements • Status of any other IP (e.g. trademarks, trade secret, etc.) Intellectual Property
  18. 18. 5.The Market
  19. 19. • Massive (but realistic) market • Data/stats on market size, existing proof points, etc. The Opportunity Total Addressable Market Serviceable Addressable Market Serviceable Obtainable Market TAM SAM SOM Typical Top-Down
  20. 20. Market Top Down –USA only $36 Billion Total Skin Cancer Diagnostic Market Source: Some Reputable Source $4 Billion Telehealth Skin Cancer Diagnostics Source: Some Reputable Source $50 Million My Product Opportunity $10 per use
  21. 21. Market Bottom Up – USA only Number of at risk people Something big % with smartphones Smaller Price per report $10.00 _____________________________________________ Opportunity/Year at x% penetration Impressive $
  22. 22. 6.Competition
  23. 23. • Direct vs indirect competitors – Potential entrants • Competitive advantage • Barriers to entry for new players? (money, time, expertise, relationships, patents) Market Fit
  24. 24. Feature A Feature B Feature C YOU CoA CoB Competitor logo • Bullet point summary of model, traction, limitations Market share Competitive differentiation Defence from competitive response Types ofdiagrams/charts Market landscapecomparison Feature ListComparison
  25. 25. 7.BusinessModel
  26. 26. 8.Marketing strategy
  27. 27. • List approaches/tactics you’re going to use to get customers. Initial set plus over time. – How long is sales cycle to get a client? – Expected conversion rate? – Average cost to acquire a customer? – Lifetime value of customer? • Key expenses/ time-efforts • AUS, US or EU first? Why? • Direct sales vs independent reps vs partner? Getting Customers
  28. 28. 9.Go to market strategy & Milestones
  29. 29. Go-To-MarketTotal Addressable Market: [$XB industry] Distribution Strategy: [Your unique advantage + channels you plan to test Launch [Dates] Traction [Dates] Growth [Dates] Main Focus: Priority Tasks: Target Results: [X] [X] [X] [X] [X] [X] [Launch web & iOS app] • [Improve signup flow • Finalize user referral process • Accepted to App Store • Drive initial signups • Measure DAU totals] • [X initial users • Convert X% of existing email list • Understand DAU & optimize] 5
  30. 30. Timeline
  31. 31. 10. Traction, Validation
  32. 32. • Current product development status, what near future looks like • Stats on, or plans for getting, initial customers Traction
  33. 33. Customer Overview “By 2020, over 85% of general practitioners will use cloud-based patient management software solutions” Live Customers Implementing Pilots Prospects Logo Logo Logo Logo Logo Logo Logo Logo
  34. 34. 11. Regs & reimbursement
  35. 35. • Describe the regulatory pathway for your product (if applicable) • Describe the reimbursement environment for your product or similar category products (if applicable) Red Tape
  36. 36. 12. The team
  37. 37. Who We Are • List pics + short bio on each founder/senior team member • Include info on board members & advisors – State verbally if Board is investing (big points). If no, don’t bring it up, have a reason for why not if asked. • Include info on future hires • Outline division of responsibilities
  38. 38. 13. The ask
  39. 39. 4key questions o How much are you raising now? o How much have you raised previously? o What will you use the money for? o When and how do investors get a return on their investment? What Do You Need?
  40. 40. 14. summary
  41. 41. Key Takeaways • List 3-5 of your strongest points, distilled down to memorable sound bites • What is your call to action
  42. 42. z. outro
  43. 43. 0413 467 201 <Impactful quote from customer or similar>
  44. 44. Ω. appendices
  45. 45. Executive Summary What We Do: • ExampleCo is a [zero-jargon description of product] used by [broad but addressable market] to [benefits]. • We are focused on the [$X billion target niche] market. Current Status: We are [company stage, e.g. pre-revenue, pre-launch, etc.]. Traction to date includes: • (Month or Quarter 1): X key metric, Y key metric • (Month or Quarter 2): X key metric, Y key metric Currently Raising: • [$X-Y million] seed round. • Previously raised [$X million] from [investors]. Team Experience Pilot Customers/Partners Logos of Past Companies & Top Schools Logos or Other Proof of Early Traction Borrowed from NextView Ventures
  46. 46. Detailed Financial Projections ($000) Milestones Month Expenditures Customers Revenue Prototype Jan 16 $150 0 $0 Clinical Trial Jun 16 $100 0 $0 Reg Approval Jan 17 $100 0 $0 Launch Jan 17 $100 10 $100 Feb 17 $100 100 $1,000 Breakeven Mar 17 … 2016 2017 2018 Unit Sales Consumables Revenue Gross Profit OPEX • Sales & Marketing • Customer Service • Product Development EBIT
  47. 47. Detailed Start-Up Capitalisation Amount % of Total Founder’s Investments Angel Investors VC Bank Loans Non-Dilutive o Grants _______________________________________ TOTAL CAPITALISATION
  48. 48. Tactic Tactic Tactic #Customers Time Tactic Tactic Tactic Tactic [X] Customers Tactic Tactic 12 Path to [X] Customers Marketing Deep Dive Borrowed from NextView Ventures
  49. 49. GrowthStrategy
  50. 50. Headshot Headshot Logo Logo “Quote.” “Quote.” Test Customer Logos • Proof of concept data point • Proof of concept data point • Proof of concept data point • Proof of concept data point 17 Customer Validation Borrowed from NextView Ventures
  51. 51. Startup Buyer acq. by [$X] VC VC Startup Buyer acq. by [$X] VC VC Startup Buyer acq. by [$X] VC VC Public Co [market cap] Public Co [market cap] Public Co [market cap] • Startups in the [industry niche] space are acquisition targets for companies such as [Examples], at valuations around [N] times price/sale. 21 Exit Comparisons Borrowed from NextView Ventures
  52. 52. Explain how you have taken risk out of the project, list the remaining major risks. o Technical Risk o Market Risk o Execution Risk Risk Mitigation Strategies Specific Risk Specific Risk Specific Risk Mitigation Strategy Mitigation Strategy Mitigation Strategy
  53. 53. • Detailed value proposition to clients/users/partners • Pipeline of potential clients, % likelihood of closing, revenue potential from pipeline • Partnerships/agreements/structures • Proprietary aspects not discussed in core deck • Additional strategy slides: ex) how to avoid/limit circumvention AdditionalAppendixSlides
  54. 54. • Competitors capital raises/investors • Head count (# employees) projection/key hires needed • Additional screen shots from demo • Testimonials (key opinion leaders, potential future partners, potential future acquirers) • Unit economics analysis • Details on research, publications (without being too academic) AdditionalAppendixSlides
  55. 55. Tips
  56. 56. If you can’t explain it simply, you don’t understand it well enough. - Albert Einstein
  57. 57. • pitch-videos/ • • Interesting way to explain a pivot: Some Examples
  58. 58. • If you regularly get a specific question, address it head on • Leave room for questions, this is when decisions are made about whether & how much to fund you • Each slide should stand on its own without explanation – use clear figures to convey a lot of information without a lot of text • Don’t read slides – connect with your audience • Don’t use industry acronyms/terminology or reference companies they won’t know • DO NOT ask them to sign an NDA – most won’t
  59. 59. • Retitle your slides • Minimize bullets & text • Add visuals – but NOT stock photos
  60. 60. • Remove redundancy • Reduce phrases to words • Omit gratuitous intensifiers and qualifiers • Expunge expletives • Negate nominalisations • Delete superfluous phrases • Avoid clichés • Watch for words like o That o Absolutely o Very o Always/Never Be Precise and Concise
  61. 61. • This estimate is conservative • Won’t need funding after this round • Device works, we’ve tested it in our lab / in pigs / in China • We’ll be on the market in X years • We’ll get acquired before expensive trials/commercial launch • We’ll capture x% (e.g. <40%) of the addressable market in <5 years • The addressable market (or worse, revenue) opportunity is $1B+ Don’t Lie
  62. 62. • Get introduced – they don’t respond well to random calls/e-mails • Review investment criteria • Review portfolio companies Before Sending YourDeck 1First things first.
  63. 63. • Arrive early to set up computer, projector, get access to wifi, etc. • Ask investors to be introduced, provide a quick background on themselves and the fund (you may learn something!) • One joke – make audience laugh at least once, but don’t do a comedy routine • Keep detailed notes of the interaction – who was at the meeting, their specific comments At the Pitch
  64. 64. • If requested, send a follow-up meeting PDF with additional slides (they may have requested you to create) and some appendix slides • Stay on their radar • Guidelines for following up: After the Pitch o Be subtle o Be concise o Be persistent o Use multiple channels o Let time pass o Be gracious o Accept “no” for an answer
  65. 65. You Got Told No
  66. 66. storyboarding notes Core story: Highlights: Hesitations: Notes:
  67. 67. 1.Draft your slide order 2.Draft each slide’s message 3.Step back and see if they work together. If not, change the messages or move them around. 4.Add each slide’s rough content 5.Now consider flow between adjacent slides 6.Iterate, test & rebuild
  68. 68. WANTTO KNOWMORE? GETIN TOUCH! @monashGENERATOR 7 Innovation Walk AG01-04 (Clayton Campus)