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Top 10 Reasons Startups Fail + How to Pitch and Get Funded

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Two presentations in one: First I share the top 10 reasons startups fail, followed by how to pitch your startup and get funded. I was the CEO and co-founder of two tech startups (one failed and one I sold). I include tips I used to raise nearly $1M in funding. You can also download my free Pitch eBook here: http://www.bplans.com/elevator-pitch/ebook/

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Top 10 Reasons Startups Fail + How to Pitch and Get Funded

  1. 1. Reasons Startups Fail #DrexelSiliconValley
  2. 2. Small Wages. Bitter Cold, Long Months of Complete Darkness. Men Waned For Hazardous Journey.
  3. 3. Constant Danger, Ernest Shackelton Safe Return Doubtful. Honour & Recognition In Case of Success.
  4. 4. By Endurance, We Conquer!
  5. 5. The Wrong Team 1
  6. 6. Marketing- Heavy Tech-Heavy 1
  7. 7. Ideators Innovators Starters Growers Exiters
  8. 8. The Single Founder 2
  9. 9. Finding the Right Co-FounderFinding the Right Co-Founder What you can do  Public speaking  Press releases  Copywriting  Editing  Social Media  Email marketing  Google Analytics  Write plans  Graphic design What you like to do X X X X X Missing skill-sets Programming SEO SEM Financials HR Biz Dev …
  10. 10. Wrong Legal Team! 3
  11. 11. Trust Your Gut!!!
  12. 12. Interviewing attorneys… • Work with your industry before? • How much time for you? • Who else if they are not available? • Raised rounds of financing? • If so, create/read a Capitalization Table? • Compensation packages for new hires? • IP protection? • Global expansion? • Experience with exits – M&As, IPO?
  13. 13. Boiling the Ocean4
  14. 14. Not Talking to Customers 5
  15. 15. Include Customers in your R&D Ask Listen Implement Reward Thank
  16. 16. Stealth to Long.. 6
  17. 17. Slow to Launch… 6
  18. 18. Stuck on Original Idea7
  19. 19. Taking “Dumb Money” 8 8
  20. 20. Smart money brings…  Business experience  Management experience  Maturity  Contacts  Mentorship  Challenge  …
  21. 21. Founder-itis! 9
  22. 22. Spending too much money 10
  23. 23. How to avoid these mistakes?  Mentors, advisers  Continued education  Proper planning  Always tracking  Being agile  Adjusting…
  24. 24. Pitch Plan Track All in 1 Easy to Use Tool
  25. 25. Track Monthly Burn Rate
  26. 26. Deliver Powerful Pitches to Investors in 10 Minutes
  27. 27. Purpose of the 10 Minute Pitch:
  28. 28. Deliver A Performance Rehearse! Rehearse! Rehearse!
  29. 29. Assumptions Written a Business Plan ✓ Conducted Due Diligence ✓  Team, Financials, Investors, Market, Competition, IP, Trends … Have Mentors/Advisers ✓
  30. 30. Build Credibility Hit the “stage” strong! Share your “rock star” talents Share “been there done that” Utilize the “cool factor” Spark their interest…
  31. 31. Tell A Story∧ Compelling Address the Problem 1 Min
  32. 32. Your Solution to the Problem Describe the uniqueness of your product 1.5 Mins
  33. 33. Our Traction Your Successes Money raised Barriers overcome Key investors Key hires Sales made Partnerships LOIs Patents Media Etc… .5 min
  34. 34. Target Markets 1st2nd 3rd 4th5th Beta Market, Addressable Market, Market Segments, % of Revenue/Market, Potential Market... Highlight any Key Research 1 min
  35. 35. Target Markets 1st Harvard/Stanford 2nd Ivy League 3rd Colleges/Univs 4th 14 – 34 yrs old Businesses…5thFastest growing demographic Women 55+ years old
  36. 36. Acquiring Your Customers? Including the cost to acquire a customer .5 min
  37. 37. Your Competition Clearly communicate your Value Proposition 1 min
  38. 38. Due Diligence on Competition City/ Local Focus No Character Limitations Free to Post Can Include Images Social Media Friendly Easy to search Local Newspaper ✪ ✪ ✪ ✪ ✪ ✪ ✪
  39. 39. Your Revenue Model How you will make $$$ Who it will come from Market validation… 1 min
  40. 40. Your $ Projections Include Key Assumptions Research to back it up Explain inflection points 1 min
  41. 41. Assumptions are King! .5 min
  42. 42. Know the Metrics for Your Model What to track if SaaS business model: •Content Marketing (uniques, TOS, bounce rates, open rates, CTRs, CVR…) •CAC = Customer Acquisition Costs •LTV = Lifetime Value ($) •Churn Rate (the lower the better) •Engagement - Referral Rates - Cancellation Reasons
  43. 43. Your Team 1 min
  44. 44. Your Funding Needs .5 min Brittany’s sister is having a baby and I need $5 to buy her a nice gift.
  45. 45. Your Exit Strategy Include Comparables Estimated Timeline to Exit .5 min
  46. 46. End on High Note Remind them why you’re a Rock Star!!
  47. 47. Free e-Book
  48. 48. Questions? @iamcarolina

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