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Fundraising for your first venture

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Fundraising for your first venture. Workshop by Henrik Scheel

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Fundraising for your first venture

  1. 1. Fundraising Henrik Scheel Founder & CEO henrik@startupxp.com
  2. 2. Entrepreneur DK USA
  3. 3. WHO ARE YOU?
  4. 4. Themes we can dive into.. Fundraising basics (types of funding, investors, amounts, valuation, terms, equity distribution, cap table) The investor meeting (who, what, how) Business Model Innovation Startup Metrics Market sizing (TAM, SAM, SOM) User Personas The ultimate pitch deck Startup lingo/terminology MPV – rapid launch Customer segmentation Customer interviewing Product-market fit Presentation techniques (story, body, voice) Press hack Running experiments (A/B testing) Elevator pitch
  5. 5. SME VS Startup Revenue/ cash flow/ jobs Revenue/ cash flow/ jobs High growth StartupSmall/medium Business (SME)
  6. 6. 8 Entrepreneurship... is an eXtreme sport
  7. 7. MostStartupsFail
  8. 8. The Startup Curve Before Startup Source: Paul Graham; avc.com Time Happiness The Startup Curve Initial Enthusiasm Before Startup Source: Paul Graham; avc.com Time Happiness The Startup Curve Initial Enthusiasm Reality Sets In Before Startup Source: Paul Graham; avc.com Time Happiness The Startup Curve Initial Enthusiasm Reality Sets In TROUGH OF SORROW Before Startup Experimenting & PivotingSource: Paul Graham; avc.com Time Happiness The Startup Curve Initial Enthusiasm Reality Sets In TROUGH OF SORROW Before Startup Starts Working Experimenting & PivotingSource: Paul Graham; avc.com Time Happiness The Startup Curve Initial Enthusiasm Reality Sets In TROUGH OF SORROW Before Startup Product/ Market Fit! Starts Working Experimenting & PivotingSource: Paul Graham; avc.com Time Happiness The Startup Curve Initial Enthusiasm Reality Sets In TROUGH OF SORROW Before Startup Product/ Market Fit! Scale Starts Working Experimenting & PivotingSource: Paul Graham; avc.com Time Happiness
  9. 9. Pre/Post-money valuation
  10. 10. Pre/Post-money valuation
  11. 11. $630,862 $467,167
  12. 12. The Power Law of Investment Returns
  13. 13. Understanding investors
  14. 14. Investment rounds Pre-Seed/Family round (~$20-500K used for building team and initial product/prototype) Seed round (~$500-6M used for building product, establishing product-market fit and early revenue) Series A (~6M-$15M used to scale customer acquisition and revenue)
  15. 15. The founder of Starbucks - Howard Schultz was rejected 200+ times when he was pitching Starbucks … and he is a master marketer VCs hear 500-1000 pitches per year and invest in about 1% of those companies!
  16. 16. Problem Solution Market Business Chris Lipp TEAM
  17. 17. Professional Business Pitch (to investors) Slide 1: Vision / Elevator Pitch Slide 2: The Problem Slide 3: Product / Service Slide 4: Market Opportunity Slide 5: Traction / Validation Slide 6: Revenue Model Slide 7: Competition Slide 8: Marketing & Growth strategy Slide 9: Team Slide 10: Financials Slide 11: Investment ‘Ask’ / milestones
  18. 18. Your network = your net worth
  19. 19. HOW TO MEASURE PROGRESS?
  20. 20. AARRR!: Startup Metrics Model Website.com Biz DevAds, Lead Gen, Subscriptions, ECommerce Homepage / Landing Page Product Features ACQUISITION SEO SEM Apps & Widgets Affiliate s Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Network s Blogs Domain s Emails & Alerts System Events & Time-based Features Blogs, RSS, News Feeds Emails & widgets Affiliates, Contests Viral Loops
  21. 21. Startup Metrics for Pirates • Acquisition: users come to site from various channels • Activation: users enjoy 1st visit: "happy” experience • Retention: users come back, visit site multiple times • Referral: users like product enough to refer others • Revenue: users conduct some monetization behavior AARRR!
  22. 22. Roles and responsibilities Equity ownership and vesting IP assignment
  23. 23. GOOD FOUNDERS VEST!
  24. 24. Awesome books to check out.. BLOGS venturehacks.com/archives tinyurl.com/termsheet101
  25. 25. “Whether you think you can, or you think you can’t - you’re right!” Henry Ford Henrik Scheel henrik@startupxp.com www.linkedin.com/in/henrikscheel Facebook.com/startupexperience StartupExperience.com/resources Good luck with your entrepreneurial journey!

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