ICSF 2017

2. Austin Neudecker

3. Austin Neudecker
MoBowl - consumers
Check availability near you
Book a bowling lane (or pool table, endless possibilities!)
Discounts on lanes & rentals
Share with your friends to join your game
Delivered as a FREE smart phone app & web booking portal
SoMoLo!!!
Viral

4. Austin Neudecker
MoBowl - merchants
Mobile app & web portal for merchants
You can easily input the availability of your
location into the app
Systems exist separate from the in-house
solutions and fit seamlessly with your
current work environment
Flexibility to discount when needed:
weekdays, mid-days, holidays, etc.

5. Austin Neudecker
Market = HUGE!
$5B industry - JUST FOR THE BOWLING PART
7-8K bowling alleys
Avg 8 lanes each
$20 per hour rental
12hrs per day, 330 days per year
Other verticals (pool, darts, etc.)  at
least $50B

6. Austin Neudecker
Competition (?)
Really? NONE.
Apps for other industries, won’t move into our space
We are too fast,
Have first-mover advantage
& generate a huge network + following

7. Austin Neudecker
GTM: Show me the MONEY!
Advertising
- Free model only
Affiliate Deals
- Equipment
- Lessons/training
Merchant Deals
- 25% cut for us
Premium App
- Get rid of apps
- $5 for lifetime
Revenue Share
- 10% of every booking
Store
- buy MoBowl exclusive items

8. Austin Neudecker
Financial Scenarios
Worst case
Best case
Conservative
case
3 year IRR: 43.7%
12.48x multiple
New
verticals
launch
3y2y1y
$0M
$10M
$100M
$1B
Breakeven at
month 4.5

9. Austin Neudecker
The (most amazing) Team
Austin Neudecker, M.B.A.
Training to be a professional bowler
MBA from online university
Ex-entrepreneur - sold lemonade in front of house as a kid
Suzy Smith
Social marketing guru
Heavy iPhone app user
100+ tweets per year with over 300 followers

10. Austin Neudecker
Technology Special Sauce
Innovative application
Solid IP - patent-pending booking technology
First app to post to social networks as you book!
Amazing & cheap development off-shore to build

11. Austin Neudecker
Where you come in…
Funded by f&f for $150K so far
Raising $1M (closing end of week)
$25M pre-money valuation
Exit for over $200M in 3yrs at 10x multiple
USE of Proceeds:
Build app via outsourcing agreement
Salary for team of 5 (market rates)
Market the hell out of it
Legal fees & repayment of debt
Unique & uber-profitable opportunity: IRR ~58%

12. Austin Neudecker
Now YOU be the judge…
Would you consider investing?
What was GOOD?
What was BAD?
• Structure was ~there
• Fairly brief (10 slides), high-level
• Enthusiasm & Passion (?)
• Let’s go slide by slide…

13. There are a multitude of resources that teach
you how to make the perfect pitch deck for
your startup.
This deck takes the opposite approach:
meant to illustrate what NOT to do as you
craft your message to potential investors

14. Austin Neudecker
Ok, this slide is ~awesome!
Simple, visual, concise
Easy to understand, used a use-case?
High-concept pitch – Does it work?

15. Austin Neudecker
MoBowl - consumers
Check availability near you
Book a bowling lane (or pool table, endless possibilities!)
Discounts on lanes & rentals
Share with your friends to join your game
Delivered as a FREE smart phone app & web booking portal
SoMoLo!!!
Viral
Busy & full of clichés (e.g. SoMoLo,
Viral, etc.).
Instead, focus on the unique value
proposition in the description.
Relatively unimportant
Non-essential,
assumed
Cliché
Valueless clutter
Cliché
Wait, what’s the problem?

16. Austin Neudecker
MoBowl - merchants
Mobile app & web portal for merchants
You can easily input the availability of your
location into the app
Systems exist separate from the in-house
solutions and fit seamlessly with your
current work environment
Flexibility to discount when needed:
weekdays, mid-days, holidays, etc.
Remove “MoBowl” here.
Use FEWER words, and keep it simple.
Change to: “Easy
integration”
Change to: “Simple to
input availability”
Change to: “Flexibility to
discounts as needed”
How are you solving the
Marketplace problem??

17. Austin Neudecker
Market = HUUUGE!
$5B industry - JUST FOR THE BOWLING PART
7-8K bowling alleys
Avg 8 lanes each
$20 per hour rental
12hrs per day, 330 days per year
Other verticals (pool, darts, etc.)  at
least $50B
Don’t exaggerate! Market
over-estimation is a common
newbie mistake.
Quantification is great, but in this case, the numbers
are wrong. This slide quantifies the size of the entire
industry, when it should instead talk about the
addressable market.
Focus on the following questions: If the product or
service is sold at the proposed price to the target
audience of reasonable buyers, how big is that? In this
case, how much would bowling alleys pay for mobile
booking services?
Be reasonable. Stick with
expansions you can expect to
manage in the term of the
investment, usually around ~3
years.
These bullet
points are
messy and
inconsistent.

18. Austin Neudecker
Competition (?)
Really? NONE.
~Apps for other industries, won’t move into our
space
We are too fast,
Have first-mover advnatage
& generate a huge network + following
Classic mistake: there is ~always
competition, most likely it is not direct. What
is fighting for the consumers attention or
similar dollars. Mention your (nearest)
competitors and show investors that you
have performed your due diligence.
What are the current substitutes???
Speed, 1st mover, traction and virality are
all great, but they’re not sustainable
competitive advantages. It’s much better
to emphasize the following advantages, if
you have them: locking up exclusive
channels, complex technology that is
very hard to replicate, IP (if applicable),
etc.
Again, messy,
inconsistent
and typos

19. Austin Neudecker
GTM: Show me the MONEY!
Advertising
- Free model only
Affiliate Deals
- Equipment
- Lessons/training
Merchant Deals
- 25% cut for us
Premium App
- Get rid of apps
- $5 for lifetime
Revenue Share
- 10% of every booking
Store
- buy MoBowl exclusive items
There are way too many Revenue
models shown here. Instead, focus on
the one, maybe two, that will be the
primary revenue steams – and don’t
include the rest.

20. Austin Neudecker
Financial Scenarios
Worst case
Best case
Conservative
case
3 year IRR: 43.7%
12.48x multiple
New
verticals
launch
3y2y1y
$0M
$10M
$100M
$1B
Breakeven at
month 4.5
This slide is
just crazy
Log scales?
seriously?
Seriously??
Never project a
return or multiple –
that’s the investor’s
job.
Worst case is a
hockey stick?Strange curves with
justification will make
an investor wary of
your judgment
Highly detailed
financial projections +
hypothetical scenario =
amateur

21. Austin Neudecker
The (most amazing) Team
Austin Neudecker
Training to be a professional bowler
MBA from online university
Ex-entrepreneur - sold lemonade in front of house as a kid
Suzy Smith
Social marketing guru
Heavy iPhone app user
100+ tweets per year with over 100 followers
Your girlfriend doesn’t
make a good
teammate, for many
reasons…
…make sure that your team shows
real expertise. Faking it is usually
apparent quickly, and if not, it will be
discovered in diligence.
Tries to be somewhat
relevant, but…
Tech company without
tech talent? If you’re a
tech company, get a tech
member!
No picture? Be
consistent!
Use
Logos

22. Austin Neudecker
Technology Special Sauce
Innovative application
Solid IP - patent-pending booking technology
Post to social networks as you book!
Amazing & cheap development off-shore to build
Usually software and business
process are not viewed as incredibly
valuable IP, especially if it’s pending.
Too easy to mention
DANGER: Outsourcing long-
term (when products go
through constant iterations
and need support) is HARD
and viewed negatively!

23. Austin Neudecker
Where you come in…
Unique & uber-profitable opportunity: IRR ~58%
Don’t try to value your own business, especially
$25M. Pre-launch/development values are
rarely over 1-4M depending on your traction. At
this stage, MoBowl won’t raise $1 million.
Usually founders get/take very little salary,
which is likely in the range of 0-70% of market.
Other early teammates can expect around 70-
80% market rates.
Be consistent with
numbers, & NO IRRs!
Funded by f&f for $150K so far
Raising $1M (closing end of week)
$25M pre-money valuation
Exit for over $200M in 3yrs at 10x multiple
USE of Proceeds:
Build app via outsourcing agreement
Salary for team of 5 (market rates)
Market the hell out of it
Legal fees & repayment of debt

24. Austin Neudecker
What else was missing?
Any last questions?
• Traction (the MOST important)
• Quantification of the problem
• The Product
• Milestones to be Achieved (in the ask)

25. Austin Neudecker
Resources:
Watch YC / TechStars / DreamIt Demo Day videos
My blog: aneudecker.com
3 Questions Entrepreneurs Get Wrong
Stop Raising…Please!
+ I will repost the updated version of this deck

26. Austin Neudecker
Let’s try it again!

28. Austin Neudecker

29. Austin Neudecker
Problem
Expense & Convenience
3x visits if 50% cheaper
Unused bowling lanes
-$10K / lane per year
Owner Bowler

30. Austin Neudecker
MoBowl
Book a discounted bowling
lane
Coordinate with friends

31. Austin Neudecker
3x bookings!

32. Austin Neudecker
Lanes Booked
Growth MoM: 100%+
3m2m1m
0
100
200
300

33. Austin Neudecker

34. Austin Neudecker
What’s Next?
Continue to grow paying alleys: 1,000 by September
Hire additional marketing/sales & dev team
Don’t miss this opportunity to Join our movement!