Pitch Clinic - Dave Parker - Seven Peaks Ventures

So you have a Startup
Idea?
Pitch Clinic
© 2017 DKParker, LLC @DaveParkerSEAwww.DKParker.com

Welcome!
https://www.slideshare.net/daveparker
sea/pitch-clinic-seattle-startup-week-
dave-parker-seven-peaks-vc

Agenda
What do Investors look for?
Big Ideas/Big Markets
Business Models
8 Rules
Example
Break
Your Turn – Pitches and Feedback
© 2016 Code Fellows www.DKParker.com

Rules of the Road
○ Don’t Ramble – I’ll interrupt
○ Network – you need to build you network for the future starting tonight
○ Attend – “6 Month Startup” starting October 18
> Ideation to Revenue – Entrepreneur Development Program
> Students $20
> Founders $35
> At the Door $45
> Includes dinner
> Monthly Milestones
> Access to Mentors

Mentors
○ Serena Glover – Angel Investor and Advisory
○ Caitlin Goetz – Head of Community at Lighter Capital
○ Dave Parker – Venture Partner @SevenPeaksVC

Don’t be afraid to share your idea!

What Investors Look for in a Startup
1. Team
2. Market
3. Idea
4. Traction
> Product
> Revenue
5. Business Model
6. Timing
7. IP or Knowledge of the market and speed
© 2017 DKParker, LLC www.DKParker.com

About Markets
○ B2B or B2C
○ Billions
○ $100M opportunity
○ If you own the market how big would it be
○ Established vs immature – headwinds vs tailwinds
○ Market leader vs first mover
○ Known vs unknown
○ Go to market knowledge

BIG Ideas
○ Simple
○ Transformation vs incremental
○ Changes the market
○ Creates new market from nascent demand
○ Changes the world

○ Passion
○ Ideas matter
○ Product matters
○ Is important but not sufficient
○ Execution matter if it’s a
good idea
○ Company = investments

Thinking Like an Investor
”When we invest in a company, we consider six things – Team, Team,
Team, Market, Progress and Idea” David Cohen, Techstars founder video
@6:30
Single Biggest Reason Startup Fail – Bill Gross Idea Lab Founder Video
Idea, Team, Business Model, Funding, Timing

8 Rules

8 Rules
1. Simple Ideas Win
2. You have a revenue stream
3. Name your customer
4. Make something explainable
5. Small Markets suck
6. Mix in a secret sauce
7. Be Original
8. What questions do you want me asking after your pitch

Explain Your Idea

Madlibs for Startups
Hi, I’m <your name here>, and I’m the problem I’m solving is <insert problem here>.
Our product <insert product info here> is designed for our target customer of <insert
target customer here>. We make money by <insert method here> and our team is
the right team because <insert why you’re awesome here>

The Offering
○ Be specific
> A “social utility” vs a commerce site
○ Avoid buzzwords
> “mobile social CRM” vs. iPhone App
○ Skip the Adjectives – please
> ”a revolutionary service” vs. backend software

The Audience
○ Identify Demographics
> IT buyer, new mother
○ Specific Market
> Artists and musicians vs unsigned alternative bands
○ Clarify the buyer
> Large businesses vs purchasing manager
○ How large is the market

The Problem
○ Pain pill vs vitamin
○ Is the value to be created?
○ Can that value be captured?
○ Is it really a problem? Or do you just want it to be a problem?
○ If not a problem, e.g. a Game is it fun?

Secret Sauce
○ What’s special about the product
○ What’s special about you
○ What’s special about the team

Workshop – Your Turn

I am developing
(solve a problem)
(a target
audience)
(with secret sauce).
(a defined
offering)
Step 1: Articulate
Step 2: Evaluate
Simple idea? One revenue stream?
Identifiable customer? Easily explainable?
Large enough market? Legitimate secret sauce?
Original?
to help

Resources

Resources
○ Crunchbase
> Funded companies, amount, investors.
> ”Pattern Match” for companies that are similar
○ Business Models – ideas are unique, seldom are business models
> 9 B2B
> 10 B2C
○ Blogs
> Tom Tunguz, Redpoint http://tomtunguz.com/ SaaS and MRR
> Brad Feld, Foundry Group http://www.feld.com/
> Fred Wilson, Union Square http://avc.com/
> Version One – Marketplace VC Blog, http://versionone.vc/
○ Pitch Resources
> Startup Weekend
> Best Startup Pitch decks
> Guy Kawasaki “10 Slides”

Thanks!
@DaveParkerSEA
Dave@DKParker.com

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