Marcus schappi

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Marcus schappi

  1. 1. marcus@ninjablocks.com
  2. 2. Ninja Blocks
  3. 3. Getting Money
  4. 4. Ninja Block Ninja Cloud
  5. 5. 0 - 1Mfunding...
  6. 6. From a land down under
  7. 7. FundingLandscape
  8. 8. Our Funding
  9. 9. Our FundingAccelerator (Startmate)
  10. 10. Our FundingKickstarter & Angel Funding Accelerator (Startmate)
  11. 11. Our Funding Venture CapitalKickstarter & Angel Funding Accelerator (Startmate)
  12. 12. VC in 1 Minute
  13. 13. Workout what VCs you want to talk to based on who they’ve invested in...
  14. 14. Crunchbase
  15. 15. Crunchbase Not entirely accurate
  16. 16. HardwareFriendly VC Firms
  17. 17. Hardware Friendly VCs
  18. 18. Hardware Friendly VCs• True Ventures
  19. 19. Hardware Friendly VCs•True Ventures• DCM Capital
  20. 20. Hardware Friendly VCs•True Ventures• DCM Capital• 500 Startups
  21. 21. Hardware Friendly VCs•True Ventures• DCM Capital• 500 Startups• OATV
  22. 22. Hardware Friendly VCs•True Ventures• DCM Capital• 500 Startups• OATV• SoftTechVC
  23. 23. Hardware Friendly VCs•True Ventures• DCM Capital• 500 Startups• OATV• SoftTechVC• Foundry Group
  24. 24. Hardware Friendly VCs•True Ventures • BVP Capital• DCM Capital• 500 Startups• OATV• SoftTechVC• Foundry Group
  25. 25. Hardware Friendly VCs•True Ventures • BVP Capital• DCM Capital • Google Ventures• 500 Startups• OATV• SoftTechVC• Foundry Group
  26. 26. Hardware Friendly VCs•True Ventures • BVP Capital• DCM Capital • Google Ventures• 500 Startups • Sierra Ventures• OATV• SoftTechVC• Foundry Group
  27. 27. Hardware Friendly VCs•True Ventures • BVP Capital• DCM Capital • Google Ventures• 500 Startups • Sierra Ventures• OATV • Felicis• SoftTechVC• Foundry Group
  28. 28. Hardware Friendly VCs•True Ventures • BVP Capital• DCM Capital • Google Ventures• 500 Startups • Sierra Ventures• OATV • Felicis• SoftTechVC • IVP• Foundry Group
  29. 29. Hardware Friendly VCs•True Ventures • BVP Capital• DCM Capital • Google Ventures• 500 Startups • Sierra Ventures• OATV • Felicis• SoftTechVC • IVP• Foundry Group • First Round Capital
  30. 30. Questions VCs Ask
  31. 31. Top VC Questions • Who is your real customer? [“Who Cares?”] • Why can’t they live without it? • How will the venture reach all the identified customer segments? • How will the much does it cost (in time and resources) to acquire a customer? • How long before the customer sends the business a check? • How many Widgets do you need to sell to break even? • What are the key customer tangible and intangible factors that anyone has to provide in order to succeed? [What is the “whole product”?] What are your customer’s values? • How are pricing decisions made? • What are your unfair or sustainable competitive advantages? What are the barriers to entry? • What are the strengths and weaknesses of your competitors? • What else do you have besides technology? What do you better than any other company? Is this a product or a business? • What do you consider to be your Company’s greatest weakness? What has the key management team accomplished in the past? Who else needs to be on the team? Company: • What do you better than any other company? • What else do you have besides technology? • Is this a product or a business? • What are your unfair advantages? • What is your organization’s uniqueness? • What do you consider to be your greatest weakness? • What do you have that will enable you to shift gears if the market is a lot different than you plan on?  Customers:    • Who is your real customer? Network Manager or Application Manager? What industry groups are they drawn from and what are the overall trends? How are they doing it today? • Why/how will they use your product? • Why can’t they live without it? • What does the market want? • What pain is so high that they are willing to come to you? How intense is the pain? • What motivates your customer to buy? • What are your customer’s values? • Who are your early adopters and why? • Who is your mainstream market? Sales & Channels: • How will customers buy your product? • How will customers become aware of your product? • Who will they call for technical support? • How long does the purchase decision process take? • What are the key variables in the buying decision? (price, service, features, reputation, • credit terms, delivery speed, or relationship with Salesman)? • Are buying decisions affected by advertising or sales promotion? • What is the degree of brand loyalty among customers? How is it measured or determined? What methods are used to lock customers in? • What would be required to persuade the user of a competitive product to switch and how • much would this cost? • How important is personal selling to this customer? How good does the salesperson have to be? • * How many Widgets do you need to sell to break even? The Whole Product: • What other products/accessories will customers buy to completely fulfill their needs? What are your customer’s intangible needs? • What is the “whole product”? • How is the product priced? • What are the expected future price trends? How are pricing decisions made? • Is quality the key to the sale of the product? 
  32. 32. Top VC Questions • Who is your real customer? [“Who Cares?”] • Why can’t they live without it? • How will the venture reach all the identified customer segments? • How will the much does it cost (in time and resources) to acquire a customer? • How long before the customer sends the business a check? • How many Widgets do you need to sell to break even? • What are the key customer tangible and intangible factors that anyone has to provide in order to succeed? [What is the “whole product”?] What are your customer’s values? • How are pricing decisions made? • What are your unfair or sustainable competitive advantages? What are the barriers to entry? • What are the strengths and weaknesses of your competitors? • What else do you have besides technology? What do you better than any other company? Is this a product or a business? • What do you consider to be your Company’s greatest weakness? What has the key management team accomplished in the past? Who else needs to be on the team? Company: • What do you better than any other company? • What else do you have besides technology? • Is this a product or a business? • What are your unfair advantages? • What is your organization’s uniqueness? • What do you consider to be your greatest weakness? • What do you have that will enable you to shift gears if the market is a lot different than you plan on?   bit.ly/vcquestionsCustomers:    • Who is your real customer? Network Manager or Application Manager? What industry groups are they drawn from and what are the overall trends? How are they doing it today? • Why/how will they use your product? • Why can’t they live without it? • What does the market want? • What pain is so high that they are willing to come to you? How intense is the pain? • What motivates your customer to buy? • What are your customer’s values? • Who are your early adopters and why? • Who is your mainstream market? Sales & Channels: • How will customers buy your product? • How will customers become aware of your product? • Who will they call for technical support? • How long does the purchase decision process take? • What are the key variables in the buying decision? (price, service, features, reputation, • credit terms, delivery speed, or relationship with Salesman)? • Are buying decisions affected by advertising or sales promotion? • What is the degree of brand loyalty among customers? How is it measured or determined? What methods are used to lock customers in? • What would be required to persuade the user of a competitive product to switch and how • much would this cost? • How important is personal selling to this customer? How good does the salesperson have to be? • * How many Widgets do you need to sell to break even? The Whole Product: • What other products/accessories will customers buy to completely fulfill their needs? What are your customer’s intangible needs? • What is the “whole product”? • How is the product priced? • What are the expected future price trends? How are pricing decisions made? • Is quality the key to the sale of the product? 
  33. 33. Have an answer for“What can we do for you?”
  34. 34. Questions you should ask
  35. 35. What’s your position?
  36. 36. What’s your position?• Analyst, Associate, Senior Associate,  Operating Partner, Associate Partner (Non-check-writers)
  37. 37. What’s your position?• Analyst, Associate, Senior Associate,  Operating Partner, Associate Partner (Non-check-writers)• Managing Director, Managing Partner, General Partner, Partner (Check-writers)
  38. 38. What’s your position?• Analyst, Associate, Senior Associate,  Operating Partner, Associate Partner (Non-check-writers)• Managing Director, Managing Partner, General Partner, Partner (Check-writers)• Vice-President, Principal,Venture Partner, Principal Partner (Can go either way)
  39. 39. How large is your fund?
  40. 40. Where is your fund at?
  41. 41. What deals have you worked on?
  42. 42. What’s your sweet spot?Ask why did you invest in X? What do you think of X?
  43. 43. Angels
  44. 44. More thanenough Angel Money
  45. 45. Angels are for advising + support not money E.g. Eric Klein + Removtive
  46. 46. Angel List (Angel.co)
  47. 47. First two weeks on Angel List
  48. 48. They should call it Analyst List
  49. 49. Video Pitch (Kickstarter Style)
  50. 50. Stick key messages as slides
  51. 51. FYI This email means they’re interested
  52. 52. Angels like tosee Social Proof like...
  53. 53. Kickstarter
  54. 54. Just follow the rules projects• Funding for creativeonly.• Projects must fitKickstarters categories.• No charity or cause funding.
  55. 55. Have a polished finished product...
  56. 56. Valuations
  57. 57. General Advice
  58. 58. Pollenizer Universal Pitch Deck
  59. 59. slidesha.re/universalpitchdeck
  60. 60. Be prepared
  61. 61. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web
  62. 62. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck
  63. 63. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck• Have an executive summary ready
  64. 64. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck• Have an executive summary ready• Have your own term sheet
  65. 65. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck• Have an executive summary ready• Have your own term sheet• Have these ready to go on Dropbox
  66. 66. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck• Have an executive summary ready• Have your own term sheet• Have these ready to go on Dropbox• Automate / Hack this process
  67. 67. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck• Have an executive summary ready• Have your own term sheet• Have these ready to go on Dropbox• Automate / Hack this process• Use Bit.ly to see if they’ve actually looked at your links
  68. 68. Be prepared• Copy of your Pitch on your Phone/Tabet/Computer/Web• Have an annotated version of your pitch deck• Have an executive summary ready• Have your own term sheet• Have these ready to go on Dropbox• Automate / Hack this process• Use Bit.ly to see if they’ve actually looked at your links• Get back to people quickly (it shouldn’t take more than a minute)
  69. 69. Tools•Text Expander• Dropbox• Google Docs• Right Signature
  70. 70. Tools•Text Expander• Dropbox• Google Docs• Right Signature
  71. 71. Tools•Text Expander• Dropbox• Google Docs• Right Signature
  72. 72. Tools•Text Expander• Dropbox• Google Docs• Right Signature
  73. 73. Tools•Text Expander• Dropbox• Google Docs• Right Signature
  74. 74. More Tips
  75. 75. More Tips• Listen to This Week in Startups, This Week in Venture Capital
  76. 76. More Tips• Listen to This Week in Startups, This Week in Venture Capital• Sign up to the twistlist.co (lots of lurking Angels)
  77. 77. More Tips• Listen to This Week in Startups, This Week in Venture Capital• Sign up to the twistlist.co (lots of lurking Angels)• Read Hacker News (news.ycombinator.com)
  78. 78. More Tips• Listen to This Week in Startups, This Week in Venture Capital• Sign up to the twistlist.co (lots of lurking Angels)• Read Hacker News (news.ycombinator.com)• Search Quora for VC / Angel Q&As
  79. 79. More Tips• Listen to This Week in Startups, This Week in Venture Capital• Sign up to the twistlist.co (lots of lurking Angels)• Read Hacker News (news.ycombinator.com)• Search Quora for VC / Angel Q&As• Apply for YCombinator / Techstars
  80. 80. More Tips• Listen to This Week in Startups, This Week in Venture Capital• Sign up to the twistlist.co (lots of lurking Angels)• Read Hacker News (news.ycombinator.com)• Search Quora for VC / Angel Q&As• Apply for YCombinator / Techstars• Stay friends with the VCs / Angels who say ‘no’
  81. 81. More Tips• Listen to This Week in Startups, This Week in Venture Capital• Sign up to the twistlist.co (lots of lurking Angels)• Read Hacker News (news.ycombinator.com)• Search Quora for VC / Angel Q&As• Apply for YCombinator / Techstars• Stay friends with the VCs / Angels who say ‘no’• Open Source what you can
  82. 82. Q&A

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