5. 5
The Team…
Bet on the jockey, not the horse
“I’d better like the people because I am going to
be spending a lot of time working with them”
“We only back management, not technology” –
Amal Johnson, Lightspeed Venture Partners
6. 6
The Competitive Edge …
Faster, easier, cheaper or better ….
…but by how much?
Orders of magnitude are always good!
How real?
Bullet-proof vests that armour shells cant pierce
How long can it be sustained?
7. 7
The Size of the Pie …
Smaller share of a large pie is good…
The larger the market, the longer it takes to
disappear…
… but sometimes smaller pies can be worth a
lot
…particularly if they are growing very fast
Hockey-sticks are good…
But how long is the handle?
8. 8
The Point of Pain …
What would you like…
A vitamin or an aspirin?
A “want” is better than a need
How much does it hurt?
9. 9
In Conclusion …
The Team…
The Competitive Edge…
The Size of the Pie…
The Point of Pain…
But, it always starts with a small great idea!