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Life in the Pitch Lane by Rod Lenniger


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Life in the Pitch Lane by Rod Lenniger

  1. 1. Life in the Pitch Lane •Stop Me if You’ve Heard This Before
  2. 2. Rod Lenniger @AZRod
  3. 3. My Life In the Pitch Lane RAL Advisory Services
  4. 4. Pitch? RAL Advisory Services
  5. 5. Recipients Applicants Professors Fiancee Customers Vendors Investors Employees Boss RAL Advisory Services
  6. 6. RAL Advisory Services What about a Business Plan?
  7. 7. RAL Advisory Services “Everybody has a plan until they get punched in the mouth…”
  8. 8. Business Plans VS RAL Advisory Services ? ? Business Model Canvas
  9. 9. Good Enough? Built from a Business Plan? Competent or Excellent? RAL Advisory Services
  10. 10. Everybody Gives Pitch Guidelines RAL Advisory Services
  11. 11. Bad Pitches Can Kill Good Ideas RAL Advisory Services
  12. 12. INVESTOR PITCH DECK OUTLINE 1) Elevator Pitch 2) Momentum, Traction, Expertise: Your key numbers 3) Market Opportunity: Define market size & your customer base 4) Problem & Current Solutions: What need do you fill? Other solutions 5) Product or Service: Your solution 6) Business Model: Key Revenue Streams 7) Market Approach & Strategy: How you grow your business 8) Team & Key Stakeholders (Investors, Advisors) 9) Financials 10) Competition 11) Investment: Your ‘Ask’ for funding, Basic use of fundsOptional Slides: Exit Strategy, Partnership Agreements, Product/Service Demo, Existing Sales/Clients, Your “Special Sauce” Per “Crowdfunder” RAL Advisory Services
  13. 13. RAL Advisory Services
  14. 14. Dave McClure, 500 Startups
  15. 15. RAL Advisory Services “Evangelist”
  16. 16. 6/17/15 RAL Advisory Services
  17. 17. RAL Advisory Services Gary’s 10 Slides 1. Title 2. Problem/Opportunity 3. Value Proposition 4. Underlying Magic 5. Business Model 6. Go-to-Market Plan 7. Competitor Analysis 8. Management Team 9. Financial Projections 10.Current Status (Accomplishments to date, Timeline, Use of Funds)
  18. 18. RAL Advisory Services Killer Questions
  19. 19. RAL Advisory Services Sales ≠ Marketing How will you get your idea to market?
  20. 20. Marketing ≠ Sales RAL Advisory Services
  21. 21. RAL Advisory Services You Will Need a Marketing Plan
  22. 22. RAL Advisory Services Software Companies Need Sales and Marketing More! • Common Misperceptions • Founders/leads come from tech- product first • Marketing seen as fluff luxury • Great products sell themselves/early adopters • …But R&D doesn’t generate income! • Marketing Reaches People You Don’t Know • Have a plan ready when time to scale up • Cant just “turn on marketing” • Who? Pain points? How to reach? • Systematic. Trial and Error. Takes time
  23. 23. RAL Advisory Services The Big Boys spend more on Marketing than R&D! • Dell spends 8 times as much on G&A than R&D • 1H 2014 – HubSpot spent $9M on R&D; $33M on Sales/Marketing • 2014 – SalesForce spent 15% on R&D; 53% on sales & Marketing
  24. 24. RAL Advisory Services
  25. 25. RAL Advisory Services Who’s Running this Show?
  26. 26. The Management Team People and Chemistry Count! RAL Advisory Services
  27. 27. Expertise Opportunity Passion X RAL Advisory Services Show You Share Focus
  28. 28. Pitch Deck Examples RAL Advisory Services
  29. 29. RAL Advisory Services
  30. 30. RAL Advisory Services
  31. 31. PR OB LEM Weak Inventory Management Money left on the table No single buy/ sell platform Too slow and complicated Too many middlemen Seller RAL Advisory Services
  32. 32. Auction Buy Planner Inventory Management Profits SOLU TION Cloud Based – Real Time – Single Platform RAL Advisory Services
  33. 33. B U SIN ESS MOD EL Uploads Inventory Auction Campaign Tools Search 10 – 15% Commission Net Proceeds 6/17/15 RAL Advisory Services
  34. 34. U N D ER LYIN G MA GIC Campaign planning/ media buying tools Inventory management Collecting Payments Tracking analytics/trends Closing Sale Executes auction model RAL Advisory Services
  35. 35. C O M P E T I T O R M AT R I X Features One-Stop Shop (Buy/Sell) Management System Campaign Planning Tools Available Inventory On-Line On-Line, RT Auction Near Real-Time Transactions Demographic Targeting Monetize Unsold Inventory Smart Phone Access WIP Analytics / Data Mining WIP RFP Process Not necessary 35
  36. 36. Software Fully operational CURRENT STATUS, ACCOMPLISHMENTS TO DATE, TIMELINE AND USE OF FUNDS Beta testing in first niche market (Balt/Wash, DC) $$ for enhanced website front end, Marketing, SG&A $BETA Launch 2012 Software Concept Developed Digital Sign Expo Las Vegas Successful Demo’s to Inventory owners Finalize Business Plan Seek External Funding Summer Beta/Launch DC/ Baltimore October Launch Dallas, Ft Worth & Chicago 2013 2014 2015
  37. 37. SUMMARY: EVERY PITCH HAS PURPOSE Not to answer all possible questions, nor close immediate investment. • Open investors minds to your vision and get them excited to know more. • The story you craft in your Deck gets them engaged to start filling in the blanks for themselves You want to give enough information to grab their interest, but not too much as to overwhelm them or have your story lose clarity & focus. Give them enough to get excited about, but leave them wanting more. Compelling Decks are concise, tell a story, are visual, 10-13 slides RAL Advisory Services
  38. 38. RAL Advisory Services Bill Gross, Idealab (Ted Talk-March 2015) • Why do some succeed and some not? • Gathered Data from hundreds of companies • Ranked on 5 key factors • One factor stood out as success determinant…? • Funding • Business Model • Idea “Truth” Outlier • Team Execution • Timing
  39. 39. RAL Advisory Services • Funding 14% • Business Model 24% • Idea “Truth” Outlier 28% • Team Execution 32% • Timing 42% Factors Matter Most for Startup Success?
  40. 40. Strive to be excellent not only in your “pitches” but in all you do! I appreciate you taking the time to listen to what I had to share… RAL Advisory Services
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