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Investor story

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Investor story

  1. 1. Investor story
  2. 2. Sequoia-deck framework Purpose Problem Solution Why now? Market Product Business model Competition Team Financials Why us? What we’re looking for The deal
  3. 3. = 3 stories (+ the deal) Sequoia deck founder story market story company story ↳
  4. 4. Founder story Purpose Solution Why now? Market Product Business model Team Financials Why us? What we’re looking for The deal Problem Competition
  5. 5. Market story Purpose Solution Why now? Market Competition Product Business model Team Financials Why us? What we’re looking for The deal Problem
  6. 6. Company story Purpose Solution Why now? Market Product Business model Team Financials Why us? What we’re looking for The deal Problem Competition
  7. 7. The deal Purpose Solution Why now? Market Product Business model Team Financials Why us? What we’re looking for The deal Problem Competition
  8. 8. Purpose - problem - solution why? how? what? Founder story
  9. 9. Why now? Drivers & enablers Market story
  10. 10. Market ! • Stage • Typical customer • Channels Top-down TAM Bottom-up SAM SOM Market story
  11. 11. Market Stage 2,5% 13,5% 34% 34% 16% www.hekovnik.com | Source: Joe Betts-LaCroix This work is licensed under http://creativecommons.org/licenses/by-sa/3.0/ Market story
  12. 12. Empathy Map THINK and FEEL? HEAR? SEE? SAY and DO ? PAIN GAIN 1. What does she see? ‡:KDWGRHVKHUHQYLURQPHQW ORRNOLNH ‡:KRVXUURXQGVKHU ‡:KRDUHKHUIULHQGV ‡:KDWWSHVRIRIIHUVLVVKH H[SRVHGWR ‡:KDWSUREOHPVGRHVVKH HQFRXQWHU 2. What does she hear? ‡:KDWGRHVKHU IULHQGVVSRXVHVD ‡:KRUHDOOLQIOXHQFHV KHUDQGKRZ ‡:KLFKPHGLDFKDQQHOV DUHLQIOXHQWLDO 3. What does she really think and feel? ‡:KDWLVUHDOOLPSRUWDQWWR KHU (which she might not say publicly) ‡,PDJLQHKHUHPRWLRQV :KDWPRYHVKHU ‡:KDWPLJKWNHHSKHUXS DWQLJKW ‡7UGHVFULELQJKHUGUHDPV DQGDVSLUDWLRQV 4. What does she say and do? ‡:KDWLVKHUDWWLWXGH ‡:KDWFRXOGVKHEH WHOOLQJRWKHUV ‡Pay particular attention to potential conflicts between what a customer might say and what she may truly think and feel. 5. What is her pain? ‡:KDWDUHKHUIHDUV ‡:KDWDUHKHU IUXVWUDWLRQV ‡:KDWREVWDFOHVDUH VWRSSLQJKHU 6. What does she hope to gain? ‡:KDWGRHVVKHWUXOZDQW RUQHHGWRDFKLHYH ‡+RZGRHVVKHPHDVXUH VXFFHVV ‡7KLQNRIVRPHVWUDWHJLHV VKHPLJKWXVHWRDFKLHYH KHUJRDOV www.hekovnik.com | Source: www.businessmodelgeneration.com This work is licensed under http://creativecommons.org/licenses/by-sa/3.0/ Market story
  13. 13. Market map - problem problems segments problem no. 1 problem no. 2 problem no. 3 problem no. 4 problem no. n segment name no. 1 specificities and aspects barrier level pain level segment name no. 2 segment name no. 3 www.hekovnik.com | Source: Hekovnik This work is licensed under http://creativecommons.org/licenses/by-sa/3.0/ Market story
  14. 14. The Five Levels of Selling Points Core Value Proposition Unique Selling Proposition Benefits Features Problems www.hekovnik.com | Source: Hekovnik This work is licensed under http://creativecommons.org/licenses/by-sa/3.0/ Market story
  15. 15. Competition • Competitive landscape • target market/segment → ideal customer → → unique value proposition → differentiator → → competitive advantage Market story
  16. 16. Competitive position Competitive differentiation 2 Competitive differentiation 1 Competitive differentiation 1 Competitive differentiation 2 www.hekovnik.com | Source: Hekovnik This work is licensed under http://creativecommons.org/licenses/by-sa/3.0/ Market story
  17. 17. Example Market story
  18. 18. Product Company story
  19. 19. Business model • Revenue model • Pricing • Customer Acquisition Cost • Average account size and/or lifetime value • Sales distribution model • Customer/pipeline list Company story
  20. 20. Team • Founders Management • Board of Directors/Board of Advisors • Missing pieces Company story
  21. 21. Financials P/L: MRR, LTV, CAC Company story
  22. 22. Financial Cohort Monthly Return Rate MRR MRC CAC LT Lifetime Monthly Recurring Cost ROI - Return On Investment: LTV - Customer Lifetime Value: MRR 30 20 10 -10 -20 -30 -40 CAC LT Lifetime 2 3 4 5 6 7 8 9 10 11 12 110% 84 € ROI - Return On Investment: CLV - Customer Lifetime Value: MRR 30 20 10 -10 -20 -30 -40 CAC Lifetime 2 3 4 5 6 7 8 9 10 11 12 460% 224 € ROI - Return On Investment: CLV - Customer Lifetime Value: Free Trial MRC MRC LT MRRn 30 20 10 CACn www.hekovnik.com | Source: Hekovnik Startup School This work is licensed under http://creativecommons.org/licenses/by-sa/3.0/ LT Lifetime ROI - Return On Investment: CLV - Customer Lifetime Value: -10 -20 -30 -40 2 3 4 5 6 7 8 9 10 11 12 460% 224 € MRCn Customer Acquisition Cost 1 1 1 Company story
  23. 23. 250000 200000 150000 100000 50000 0 -50000 -100000 50000 40000 30000 20000 10000 0 May-14 -10000 -20000 Jul-14 Sep-14 Jan-15 Nov-14 Jul-15 Sep-15 Mar-15 May-15 Jan-16 Nov-15 Jul-16 Sep-16 Mar-16 May-16 Jan-17 Nov-16 Jul-17 Sep-17 Mar-17 May-17 Jan-18 Nov-17 Jul-18 Sep-18 Mar-18 May-18 Jan-19 Nov-18 Jul-19 Sep-19 Mar-19 May-19 kumulative difference monthly KPIs New Users churn CAC MRR MRC monthly COST monthly difference kumulative difference revenue Company story
  24. 24. Why (trust) us? • Traction metrics (funnel, churn, lifetime) • Lesions learned • Next steps PROOF Company story
  25. 25. The art of pitch
  26. 26. The Sequoia deck framework is a thinking tool, not a template.
  27. 27. Anatomy of a perfect pitch pitch = story + metrics why? what? how? emotions reason

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