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SIF module 4 - pitching


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Pitching your startup

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SIF module 4 - pitching

  1. 1. PITCHING Social Innovation Fellowship Module 4
  3. 3. WHAT IS AN MVP? An experiment that allows you to test your riskiest hypothesis with the least effort MVP types: • Interviews • Ad campaign • Explainer Video + sign up page • Concierge MVP (doing by hand what you will later to by software) • Landing page (sell it before you build it) • Pre-sales / Crowdfunding • Single feature
  4. 4. #1: (VR for driving school) MVP: V1: Create product description. Call 10 driving schools and attempt to setup a meeting where you will come to them to demonstrate the solution. Success criterion: 5/5. If you set an appointment, call to cancel the next day (your technology needs more work) V2: Talk to 20 students who are currently taking their drivers license, ask them for their e-mail if they’d like to test the system. (success: 10/20) #2: App that scans your food and provides nutritional facts. MVP: Go to high end supermarket, pitch 50 people (in your segment), ask for their e-mail so you can send them a link to your demo app. Success criterion: 20/50. #3; App that’s like but for people trying to get in shape and dieticians MVP: V1: Find 10 early adopters, interview them about preferences, you research dieticians and make the match. Check to see how many ultimately hired the dietician, ask dieticians for revenue commission: are they willing to pay you? (success: 8/10) #4 Helping hands app to find qualified helpers to help a senior. MVP: talk to 20 seniors, pitch service, give them your number, check how many calls to get help. Success 5/20. #5 Look Trashy (recycled plastic turned into fashion items. MVP: Create a flyer with 3 designs of bracelets, go to a farmer's market/music festival/other place where you can find your early adopters, Sell 10 bracelets at XX USD per bracelet. (use Venmo/Paypal/Cash) ask for people’s address and you’ll send it. *return the money immediately. #6; We are creating a software tool to visualize the effect of their disease, drugs, and lifestyles on their body. MVP: V1 Create a flyer with a clear value proposition, go to farmacies or doctors offices and ask people in your customer segment for their e-mail so you can get them signed up as beta testers. V2: Find 5 doctors who are interested in becoming beta testers.
  5. 5. INVITE YOUR FRIENDS!! Agenda (2pm-4pm) Networking Pitch Session (6 teams, 10 min presentation + 5 min Q&A/feedback) Feb 9th
  6. 6. Entrepreneurs are always pitching
  7. 7. Problem Solution Market Business TEAM
  8. 8. My company, (Company name) is developing (a defined offering) to help (a targeted audience) (solve a problem) (with secret sauce) Mad Lips for Pitching
  9. 9. A thousand songs in your pocket… Golden rule: Features tell, Benefits sell!
  10. 10. 7 Word Pitch ________________ ________________ ________________ ________________ ________________ ________________ ________________
  11. 11. The power of storytelling
  12. 12. Role-play drawing Physical m ock-up Software demo Video PROTOTYPING
  13. 13. The audience wants you to succeed!
  14. 14. Content VS Delivery?
  15. 15. SMILE J And be positive!
  16. 16. Revenue Model Make it simple – and focus on main revenue stream
  17. 17. Slide with Financials • The ASK *we’re looking for 50/80/100/150/200K USD • Revenue projections in 2020? • Expenses in 2020? • Profit/loss in 2020? • Revenue projections in 2021
  18. 18. DEMO DAY presentation Initial Problem (who/why/how) Original idea Jewish Value Alignment Key assumptions (market + technology risks) Validation process (story about your journey) Pivot/persevere decisions Current startup idea (problem, solution, market business model) Next steps (including the ASK) *peer investors Time (min) 1 0.5 0.5 1 3 1 2 1
  19. 19. STARTUP EVALUATION FRAMEWORK There are many factors you should take into consideration when making an offer to a seed- stage company. We suggest you score the team based on how well they present the following areas of their business. Corporation (name of startup) : __________________________________ Your name: __________________ representing (VC Firm): ____________________ PROBLEM (20 points) Score: ______ Has the team identified a real problem? Does the team understand the problem and its context? Has the team tested their problem hypothesis with potential users/customers? SOLUTION (20 points) Score: ______ What unique product or service has the team developed? Is it a “vitamin” or a “pain killer”? Is the value proposition clear? Has the team tested the value proposition with potential customers? Can they build it (technology risk)? MARKET (20 points) Score: ______ Does the team understand their market? How big is the market? Is the market growing? Does the team know how to beat their competitors? REVENUE MODEL (20 points) Score: ______ How is the company making money? Is the model scalable? Has the team proven that this revenue model + pricing strategy will work? TEAM (20 points) Score: ______ Who is in the management team, what is their background and why are they uniquely qualified to run this venture and deliver the solution to market? How do they plan to scale (both business and team) to meet the goals of their business plan? Total Score: ______ Comments: ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________ ___________________________________________________________________
  20. 20. TERM SHEET DATE / 2018 This Term Sheet represents the current understanding of the parties with respect to certain of the major issues relating to the proposed private offering and does not constitute a legally binding agreement. Except for the section entitled “Binding Terms” this summary does not constitute a legally binding obligation. Any other legally binding obligation will only be made pursuant to definitive agreements to be negotiated and executed by the parties. This Term Sheet is for educational purposes only and it is not legally binding in any way. This Term Sheet does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where the offer or sale is not permitted. Corporation _______________________ VC Firm _______________________ Investment amount $ _________________ Investment $50,000 $80,000 $100,000 $150,000 $200,000 Valuation (post-money) $250,000 $400,000 $500,000 $750,000 $1,000,000 Investment form: Seed round Capitalization Shares Ownership % Type Founders/Common 8,000,000 80% Common Investor 2,000,000 20% Preferred Corporation VC firm Signature Signature Title Title
  21. 21. Be visual Don’t talk to your slides
  22. 22. Tips Good posture Limit slides/words Control your hands Smile J
  23. 23. How long does it take to prepare a good talk?
  24. 24. How long does it take to prepare a good talk?
  25. 25.
  26. 26. BONUS POINTS if you have this ready on DEMO DAY Market segmentation (size of TAM-SAM-SOM + growth rate of market) Start-up costs – Capital needed to get first product ready to ship (The investment ASK: 15-18 month run-way) Customer Acquisition Cost (CAC) (total marketing dollars spent / number of new customers = CAC) LTV – Lifetime Value per Customer (the future net profit from the customer over the duration of the relationship) Break Even point
  27. 27. Good luckJ