Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

How to pitch VCs on an early stage idea. Presented at BASES, Stanford University.

1,207 views

Published on

Slides from a talk presented at Stanford University BASES e-Challenge Workshop by Rohit Sharma. Mohr Davidow Ventures.

Published in: Technology
  • Be the first to comment

How to pitch VCs on an early stage idea. Presented at BASES, Stanford University.

  1. 1. e-Challenge Workshop "The Entrepreneurial Pitch" Venture Pitch 101 rohit sharma Mohr Davidow Ventures (MDV) www.mdv.com rsharma@mdv.com
  2. 2. todayWhat are (early stage) VCs looking for?Typical pitch content | guidelines vs. rulesDesignQ/A 2
  3. 3. venture process Meeting Meeting w/ Pitch Meeting w/ Pitch More Meetings w/ Pitchall about assessing risk & opportunity 3
  4. 4. the risk curve$/risk Valuation iterate Risk (likely) Risk (ideal) time Seed A B 4
  5. 5. risk Market Team StrategyTechnology/Product Financing 5
  6. 6. the risk trajectory (hurricane tracks) objective money time 6
  7. 7. the risk trajectory objectivemoney time 7
  8. 8. market riskSize of marketCharacteristics of the marketCustomer development plan?Customer behavior change ?Cost of customer acquisitionCompetitive landscape 8
  9. 9. technology/product riskTechnology creationProduct creationProduct 2.0?Triangulate people  time moneyOther (support, maintenance, upgrades,…) 9
  10. 10. team riskCurrent skill-set (to address market/product dev)Required skills, people –  fearless leader  –  bold visionary, evangelist  –  grumpy ass-kicker  –  customer advocate Hiring (Geography, sources, time, effort)Will this team raise the next round? 10
  11. 11. financing riskHow much $$ to subsequent financingsFinancing sources, typeDoes market permit (large) company creation? 11
  12. 12. strategy?Is there strategy risk?(Un)Expected behavior of competitors, companies in adjacent market spaces?Do ‘receptors’ exist in customers?Identify: –  Early adopters? –  Risk-takers? –  Market-makers? 12
  13. 13. the un-definables(this is what we are *really* looking for) 13
  14. 14. but, that’s not how you organize *your* powerpointIntroduction (team)Problem & Non-obvious insight 3-5 Minute drillMarketProduct development, customer developmentCustomers: identify, acquire, retain,… (Market construction)Competition?State the plan, financial modelEnd bits (plan? summary? insight?) –  Single most significant factoid about you or venture –  Recap 5-minute drill in 1 minute 14
  15. 15. designAll design is choice (Edward Tufte)Powerpoint is a very challenging method of effective communication (worst S/N ratio of any method?)Can you write your ‘pitch’ in report format? In ‘Word’? 15
  16. 16. Edward Tufte | www.tufte.com$40 $48 $7 16
  17. 17. build a picture worth ten slides 17
  18. 18. powerpoint guidelines 18

×