Session 5 Raising Finance Pitching
Some questions <ul><li>Why should anyone else give you money? </li></ul><ul><li>Why shouldn’t they? </li></ul><ul><li>What...
Sources of finance Existing angel investment, already profitable High level of potential return and customers already sign...
So how much money do you need? Add all the z's Thats how much  money you need Q: How can you reduce this amount? z y Dec …...
Competitions and grants <ul><li>One of the main ways for students to get initial funding </li></ul><ul><ul><li>Usually sma...
Building business relationships <ul><li>Many businesses minimise costs by bartering </li></ul><ul><ul><li>Sharing office s...
Pitching
Communications... <ul><li>Are a key to success: </li></ul><ul><ul><li>Career development </li></ul></ul><ul><ul><li>Promot...
What is an elevator pitch? <ul><li>Your 1 minute opportunity to:  </li></ul><ul><ul><li>Tell the story </li></ul></ul><ul>...
What can I pitch? Myself for career opportunities My idea for feedback, partnership, support My product / service for sale...
Who do I pitch to? <ul><li>Business owners </li></ul><ul><li>Employers </li></ul><ul><li>Peers </li></ul><ul><li>The unexp...
Key Content: My Proposition <ul><li>Who am I?  </li></ul><ul><li>What is the problem I’m solving?  </li></ul><ul><li>How a...
Who am I?  <ul><li>Hello, I’m John – John King </li></ul><ul><li>I help students at Royal Holloway to start their own busi...
What is the Problem I’m Solving? <ul><li>Students sometimes don’t have the confidence or skills to achieve success. </li><...
How am I solving it?  <ul><li>I created Royal Holloway Entrepreneurs, a student-led organisation, which encourages more st...
Why is my solution likely to succeed?  <ul><li>My strategy reaches out to more students than I could reach alone, and stud...
What do I want from you?  <ul><li>I want you to join Royal Holloway Entrepreneurs by visiting the website at  www.royalhol...
What will success look like for both of us?  <ul><li>The more members we have, the stronger the organisation becomes. </li...
How will success shape the longer term?  <ul><li>Longer term, the society needs to become self-funding, and your efforts –...
Write Your Pitch <ul><li>Here’s your opportunity to get your pitch up to scratch:  </li></ul><ul><ul><li>Write your person...
Key Content: My Proposition <ul><li>Who am I?  </li></ul><ul><li>What is the problem I’m solving?  </li></ul><ul><li>How a...
Perform Your Pitch <ul><li>Now perform your pitch once to each other person in the room  </li></ul><ul><ul><li>Ask for the...
Course programme 2pm-4pm in Arts Building S21 Finding role models and teams 20 Oct 1 Generating ideas 10 Nov 2 Planning yo...
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Startup Wednesday 5: Raising Finance & Pitching

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Startup Wednesday 5: Raising Finance & Pitching

  1. 1. Session 5 Raising Finance Pitching
  2. 2. Some questions <ul><li>Why should anyone else give you money? </li></ul><ul><li>Why shouldn’t they? </li></ul><ul><li>What can you do to make it easier for them to give you money? </li></ul>
  3. 3. Sources of finance Existing angel investment, already profitable High level of potential return and customers already signed up A proven track record or security (eg a house) Good personal relationships Skill in completing application forms What do you need? Shares in your business Shares in your business Regular repayments at a set rate of interest Negotiable Free Cost? £200,000 or more £50,000-£200,000 Varies Up to £50,000 Up to £10,000 for students How much? Venture Capital Business Angels Banks Friends & Family Grants & competitions
  4. 4. So how much money do you need? Add all the z's Thats how much money you need Q: How can you reduce this amount? z y Dec … z z z z Total costs … y y y y Monthly costs x Startup costs … Apr Mar Feb Jan
  5. 5. Competitions and grants <ul><li>One of the main ways for students to get initial funding </li></ul><ul><ul><li>Usually small amounts (c. £1,000) but can help to unlock funding from other sources </li></ul></ul><ul><li>Competitions are advertised at </li></ul><ul><ul><li>www. royalhollowayentrepreneurs .com /competitions </li></ul></ul><ul><li>Government grants are available from </li></ul><ul><ul><li>www. businesslink .gov.uk/support </li></ul></ul><ul><li>Grants for social enterprises and charities are at </li></ul><ul><ul><li>www. fundingcentral .org.uk/ </li></ul></ul><ul><ul><li>www. unltd .org.uk </li></ul></ul><ul><li>Make sure you get advice on your application – you can book an appointment with me! </li></ul>
  6. 6. Building business relationships <ul><li>Many businesses minimise costs by bartering </li></ul><ul><ul><li>Sharing office space </li></ul></ul><ul><ul><li>Promoting each other </li></ul></ul><ul><ul><li>Combining forces </li></ul></ul><ul><li>You raise finance from friends and family and angel investors , and build business relationships with other companies by… </li></ul>
  7. 7. Pitching
  8. 8. Communications... <ul><li>Are a key to success: </li></ul><ul><ul><li>Career development </li></ul></ul><ul><ul><li>Promoting your ideas </li></ul></ul><ul><ul><li>Selling your services or products </li></ul></ul><ul><ul><li>Making an impact </li></ul></ul><ul><li>The pitch is a key form of communication – master it! </li></ul>
  9. 9. What is an elevator pitch? <ul><li>Your 1 minute opportunity to: </li></ul><ul><ul><li>Tell the story </li></ul></ul><ul><ul><li>Sell yourself or your idea </li></ul></ul><ul><ul><li>Make a date for a meeting </li></ul></ul><ul><ul><li>Leave a good impression </li></ul></ul>
  10. 10. What can I pitch? Myself for career opportunities My idea for feedback, partnership, support My product / service for sale My firm for support, investment, sale
  11. 11. Who do I pitch to? <ul><li>Business owners </li></ul><ul><li>Employers </li></ul><ul><li>Peers </li></ul><ul><li>The unexpected </li></ul>
  12. 12. Key Content: My Proposition <ul><li>Who am I? </li></ul><ul><li>What is the problem I’m solving? </li></ul><ul><li>How am I solving it? </li></ul><ul><li>Why is my solution likely to succeed? </li></ul><ul><li>What do I want from you? </li></ul><ul><li>What will success look like for both of us? </li></ul><ul><li>How will success shape the future? </li></ul>
  13. 13. Who am I? <ul><li>Hello, I’m John – John King </li></ul><ul><li>I help students at Royal Holloway to start their own businesses and to become more entrepreneurial </li></ul>
  14. 14. What is the Problem I’m Solving? <ul><li>Students sometimes don’t have the confidence or skills to achieve success. </li></ul><ul><li>They don’t know how to plug in to the right networks or how to make things happen. </li></ul><ul><li>Often, this means that they don’t persist in trying to realise their ambitions, or that they aren’t ambitious enough in the first place. </li></ul><ul><li>This is a tragedy for both the student and for society. </li></ul>
  15. 15. How am I solving it? <ul><li>I created Royal Holloway Entrepreneurs, a student-led organisation, which encourages more students to take part in enterprising activities. </li></ul><ul><li>I also launched Enterprise Lab, a business incubation service. </li></ul><ul><li>Finally I run intensive boot camps to make students more entrepreneurial. </li></ul>
  16. 16. Why is my solution likely to succeed? <ul><li>My strategy reaches out to more students than I could reach alone, and students listen to other students more than staff. </li></ul><ul><li>Research has proven that boot camps work. </li></ul><ul><li>And free incubation services are very useful when you have no money to start a business. </li></ul>
  17. 17. What do I want from you? <ul><li>I want you to join Royal Holloway Entrepreneurs by visiting the website at www.royalhollowayentrepreneurs.com </li></ul><ul><li>I am also looking for Royal Holloway students to help out with activities next year. </li></ul>
  18. 18. What will success look like for both of us? <ul><li>The more members we have, the stronger the organisation becomes. </li></ul><ul><li>This is good for you, because you will become part of a network of successful students, and will learn from helping other students to succeed. </li></ul><ul><li>This is good for me, because the more students that help, the more students will join. </li></ul>
  19. 19. How will success shape the longer term? <ul><li>Longer term, the society needs to become self-funding, and your efforts – to include more people and to help find funding for the society – will help make this happen. </li></ul><ul><li>The organisation could include every student at the College and become the strongest society in Europe. </li></ul>
  20. 20. Write Your Pitch <ul><li>Here’s your opportunity to get your pitch up to scratch: </li></ul><ul><ul><li>Write your personal 1 minute pitch </li></ul></ul>Exercise
  21. 21. Key Content: My Proposition <ul><li>Who am I? </li></ul><ul><li>What is the problem I’m solving? </li></ul><ul><li>How am I solving it? </li></ul><ul><li>Why is my solution likely to succeed? </li></ul><ul><li>What do I want from you? </li></ul><ul><li>What will success look like for both of us? </li></ul><ul><li>How will success shape the future? </li></ul>
  22. 22. Perform Your Pitch <ul><li>Now perform your pitch once to each other person in the room </li></ul><ul><ul><li>Ask for their feedback </li></ul></ul><ul><ul><li>They will give constructive feedback and write notes on your worksheet </li></ul></ul>Exercise
  23. 23. Course programme 2pm-4pm in Arts Building S21 Finding role models and teams 20 Oct 1 Generating ideas 10 Nov 2 Planning your first year 24 Nov 3 Branding and building a website 8 Dec 4 Pitching and raising finance 12 Jan 5 Marketing and PR for startups 26 Jan 6 Selling and negotiating 9 Feb 7 Accounting and legal issues 23 Feb 8 Running an office and bookkeeping 9 Mar 9

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