General Assembly Class: Insiders Guide to Seed FundraisingThomas Wisniewski
A deck I presented at General Assembly in NYC seminar on best practices in fundraising for seed-stage tech start-ups. Target Audience: Tech-Startup Entrepreneurs
Seed Fundraising and Angels; Entrepreneurs Roundtable Accelerator (ERA)Thomas Wisniewski
This is a presentation from a recent workshop I led at Entrepreneurs Roundtable Accelerator for the current (Summer 2014) class of start-up founders. New format; content from prior presentations of mine.
General Assembly Class: Insiders Guide to Seed FundraisingThomas Wisniewski
A deck I presented at General Assembly in NYC seminar on best practices in fundraising for seed-stage tech start-ups. Target Audience: Tech-Startup Entrepreneurs
Seed Fundraising and Angels; Entrepreneurs Roundtable Accelerator (ERA)Thomas Wisniewski
This is a presentation from a recent workshop I led at Entrepreneurs Roundtable Accelerator for the current (Summer 2014) class of start-up founders. New format; content from prior presentations of mine.
Techstars organized a boot camp for people who served in the military. The focus is to teach / encourage veterans to think about starting or joining tech startups. This presentation is a primer on fundraising and other related items.
From the Women Helping Women in Entrepreneurship on July 24, 2013 at MassChallenge
The Boston entrepreneurial community is home to some of the strongest and most successful women in entrepreneurship. Join the women of Golden Seeds and several local serial entrepreneurs for a discussion on sources of capital for your business. The discussion will be followed by small breakout sessions that focus on the challenges your company may be facing.
www.thecapitalnetwork.org
Getting Your Venture "Game Ready" for FundingAndrew Tulchin
Triple bottom line efforts need capital. But securing this capital is often challenging, despite impactful value propositions and promising ROIs. Meanwhile, options for funding are expanding, creating a dizzying array of options for the entrepreneur. In this workshop, you’ll work with two experienced social enterprise funding advisors to get your efforts “game ready” for funding. You’ll learn how to package your venture to successfully raise the funds you need… and from the right type of capital source.
Techstars organized a boot camp for people who served in the military. The focus is to teach / encourage veterans to think about starting or joining tech startups. This presentation is a primer on fundraising and other related items.
From the Women Helping Women in Entrepreneurship on July 24, 2013 at MassChallenge
The Boston entrepreneurial community is home to some of the strongest and most successful women in entrepreneurship. Join the women of Golden Seeds and several local serial entrepreneurs for a discussion on sources of capital for your business. The discussion will be followed by small breakout sessions that focus on the challenges your company may be facing.
www.thecapitalnetwork.org
Getting Your Venture "Game Ready" for FundingAndrew Tulchin
Triple bottom line efforts need capital. But securing this capital is often challenging, despite impactful value propositions and promising ROIs. Meanwhile, options for funding are expanding, creating a dizzying array of options for the entrepreneur. In this workshop, you’ll work with two experienced social enterprise funding advisors to get your efforts “game ready” for funding. You’ll learn how to package your venture to successfully raise the funds you need… and from the right type of capital source.
Let's explore what angel investing is, how it differs from venture capital investments, and tips on how to find the right Angel investors for startup business.
Raising Capital from Life Science Investors SecureDocs
This slideshare was originally part of the webinar raising capital from life science investors, hosted by SecureDocs and Life Science Nation. These slides outline the best ways to research, locate, and connect with various types of potential life science investors.
Presentation by Steve Carkner, Head of Innovation at Revision Military as part of the Business of IoT Workshop at IoT613 on Thursday, September 29, 2016.
Insider's Guide to Raising Early-Stage CapitalNnamdi Okike
An insider's guide to raising early-stage capital. An explanation of the key things to think about when raising early-stage funding from angels, angel groups, and venture capital firms.
Know your Angels: What Entrepreneurs need to know about Angel Investors befor...Elaine Werffeli
As both an Entrepreneur and an Angel Investor, I thought it was important to share what Angels are looking for so Entrepreneurs can have an inside view into what Angels are looking
Venture capital equity funding explained - Paula Mariwala, Seed Fundtiemumbai
Know more about fund raising and the key parameters that an investors takes into consideration while investing his money and time into a business or entrepreneur as explained by Paula Mariwala - Partner Seed Fund
Similar to Show Me the Money: Angel Investors and Angel Fundraising (20)
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just what'sapp this number below. I sold about 3000 pi coins to him and he paid me immediately.
+12349014282
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
PPrreesseenntteedd bbyy:: GGrroouupp 66
GGlloobbaalliizzaattiioonn
o f
PP
oo
ll
yy
ee
ss
tt
ee
rr
RR
uu
bb
bb
ee
rr
EE
tt
hh
yy
ll
ee
nn
ee
VV
ii
nn
yy
ll
AA
cc
ee
tt
aa
tt
ee
GG
ee
nn
uu
ii
nn
ee
LL
ee
aa
tt
hh
ee
rr
SS
yy
nn
tt
hh
ee
tt
ii
cc
LL
ee
aa
tt
hh
ee
rr
CC
oo
tt
tt
oo
nn
C
o
u
n
t
r
i
e
s
I
n
v
o
l
v
e
d
Ni
k
e
h
a
s
m
o
r
e
t
h
a
n
7
0
0
s
h
o
p
s
i
n
c
o
n
t
r
a
c
t
w
i
t
h
w
o
r
l
d
w
i
d
e,
w
h
e
r
e
i
n
t
h
e
i
r
offi
c
e
s
a
n
d
i
n
d
e
p
e
n
d
e
n
t
fa
c
t
o
r
y
o
u
t
l
e
t
s
a
r
e
fo
u
n
d
w
i
t
h
i
n
t
h
e
p
r
e
m
i
s
e
s
of
ap
p
r
o
x
i
m
a
t
e
l
y
4
5
c
o
u
n
t
r
i
e
s.
AAuussttrraalliiaa
China
India
IInnddoonneessiiaa
TThhaaiillaanndd
TTuurrkkeeyy
USA
VViieettnnaamm
NNiikkee SSuuppppllyy CChhaaiinn
RRuubbbbeerr,, FFaabbrriicc
aanndd ootthheerr rraaww
mmaatteerriiaallss
Shoe
MMaannuuffaaccttuurriinngg
aanndd AAsssseemmbbllyy
MMaarrkkeettiinngg
SSppoorrttiinngg ggooooddss,,
ddeevveellooppmmeenntt
aanndd SShhooee ssttoorreess
OOnnlliinnee,, CCaattaalloogg
aanndd ootthheerr rreettaaiill
NNiikkee bbrraannddeedd
shoes
PPrroodduucctt
ddeevveellooppmmeenntt
CCuussttoommeerr nneeeeddss//wwaannttss ffeeeeddbbaacckk
NNiikk
Nike Supply Chain
Globalization of Nike
Nike Manufacturing Process
Rubber Materials Nike
Ethylene Vinyl Acetate Nike
Genuine Leather Nike
Synthetic Leather Nike
Cotton in Nike Apparel
Nike Shops Worldwide
Nike Manufacturing Countries
Cold Cement Assembly Nike
3D Printing Nike Shoes
Nike Product Development
Nike Marketing Strategies
Nike Customer Feedback
Nike Distribution Centers
Automation in Nike Manufacturing
Nike Consumer Direct Acceleration
Nike Logistics and Transport
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the what'sapp contact of my personal pi vendor
+12349014282
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
Show Me the Money: Angel Investors and Angel Fundraising
1. “Show Me the $$$$!”…Session 3: Angels!
Insiders guide to Angels and Angel Investment
General Assembly / RosePaul Investments Event
Tom Wisniewski
RosePaul Investments
Tuesday November 19, 2013
2. Agenda
I. Kick-off and Introductions
II. Intro to Angel Capital
III. Investor Profile and Discussion
•
BREAK: Networking and Beverages
IV. More on Angel Investors
V. Best Practices:
•
WRAP-UP: Networking and Beverages
1
confidential
3. Seminar Rationale:
Why are you here?
Interested in finding Angels….
• Want advice and $’s to help my start-up
Interested in investing as an Angel….
• Want advice on how to get started and do it well
Curious what the hype on Angels is all about
The Challenge…
“Lots of noise, lots of conflicting descriptions and
advice”.
“Angels difficult to find”
“Angels challenging to engage …..and work with.”
Most Angel investments fail: tough on investors and
start-ups
…..”I have a lot of questions”
2
confidential
4. However, there is a better way.
So….. what helps?
Understand what Angel Capital is (and is not)
Understand who (and what) Angel Investors are
Understand the Angel Investment process
…….learn some best practices on Angel Investments from
some insiders and your fellow colleagues.
3
confidential
5. Tom Wisniewski: My background
Born in NYC; grew-up in Montclair, NJ
Physics and Philosophy major undergrad
(Clark University); MBA at Tuck School
(Dartmouth)
1st Job: Programmer at Morgan Stanley then
moved to Investment Banking
After B-school: joined a start-up management consulting firm Mitchell Madison
Group; focus on Strategy/Operations/IT for financial services, tech, outsourcing,
private equity/VC clients (1993 to 2000)
Walker Digital: helped set-up and run an early “internet incubator” (2000)
Independent Advisor / Turn-arounds: Advised VC and PE Firms on portfolio
company strategy and new investments; joined the management team of two
companies
Currently:
• Early stage investor and advisor to start-ups
• Investor and advisor to VC and PE funds
• Member and director at New York Angels
confidential
6. What would I like you to walk away with?
Better understanding of Angels and Angel Investing.
A set of specific insights that will *change* your approach.
A “to-do” list: starting point(s), actions, things to try.
A set of recommended resources to consult and learn more
from.
A few new relationships with others in the NYC start-
up/fundraising ecosystem: fellow entrepreneurs, investors, etc.
Answers to specific questions about pitching that you might
have.
5
confidential
7. So….what questions do you have about Angels and Angel
Investing?
xxx
6
confidential
9. Angel Capital: How it Fits in
$100M
IPO
Strategic Partners
$10M
Venture Capital
$1M
Banks
Angel Groups
SBIR/STTR Grants
Grants
$100K
Friends, Family
& Fools
Source:
Tom Stephenson, Verge
Idea
Plan
Angel Investors
Prototype
Beta
Sales
Profitability
8
confidential
10. Early
Late
Deal Volume and Stage: VC’s vs. Angels
Venture Capital
Mostly later stage
3,400 deals
$0.5-1.0B per
Year
Angel Capital
49,000 deals
Mostly early-stage
$20B per Year
9
confidential
11. What does Angel Capital look like?
Friends and
Family
(& Bootstrapping)
• $10’s of K
• Concepts? Plan
only?
• Not too many hard
questions..
• No legal ?
• Investing in YOU.
• Know YOU already:
Trust YOU.
Round Size: $100’s of K, up to $1M
Individual Angels Invest: $10K – 100K
• Sweet spot: $25K to 50K
Valuation: Pre-Money valuations of $1-5M generally
Requirements:
• B-Plan or “B-plan questions” answered
• Key founders in place (tech and bus), full-time
• Some product/ prototype done
• Some market validation / traction: piloting?
Paying? Customers
• Legal structure and documents in place
• Roadmap and plan for: Product, Market
Expansion, Breakeven? Next Round of Financing?
10
confidential
12. III. Investor Profile and Discussion
Drew Arlo, Entrepreneur, investor and fellow New
York Angel
11
confidential
14. Who are these “Angels”? What do they look like?
Experienced, successful entrepreneurs: frequently multiple exits
• Some from “tech-start-ups”, some from other businesses
Successful “corporate” business people: CEO or CxO-types
Older: most are in the 40-60 age group.
• But there are also notable angels in their 20’s and 30’s e.g. newly minted
start-up millionaires
3 – 10+ Angel Investments
~10% of investible capital in Angel Investments
Differ *widely* in: Industry/Functional Experience, Investment Experience,
Interests, Target Sectors/Stage, Investment $, Risk Tolerance, personal
do’s/don’ts and hot buttons.
Lists? Not many. All are partial. AngelList? Gust? Other?
VC’s (vs. Angels): full-time job, invest other peoples $’s. Lifecycle: Raise $’s,
Find/Evaluate, Invest, Manage Portfolio. Need big exits to make economics
work
13
confidential
15. Motivations: Why do they Angel Invest?
Passion. Have some strong affinity and interest in the industry,
technology, business or entrepreneurs
Involvement. Have the time. Want to stay engaged and involved.
Giving Back. Have done well, now want to give back help fellow
entrepreneurs. Support a cause or social mission.
Next Venture. Have exited. Looking for the next company to join, or
next big idea. Serial entrepreneur
Go Pro. Have been an Entrepreneur. Looking to be a VC.
Financial Returns. Have exited and made a fortune. Want to invest
and make more.
14
confidential
16. How do Angels add value?
Feedback and Advice. On the business, on the pitch, on other
investors.
Contacts. Introductions to customers, partners, team members,
investors, and …..other advisors.
Experience. The wisdom of successes, and failures. Serial
entrepreneurs. Other investments.
Capital….Duh!. Important, but....
…..and NOT (?): the common complaints.
Not Full-Time. Not a job.
Takes too long.
Ask a lot of questions.
Can’t / don’t follow-on invest.
“Like herding cats”.
Quality varies.
15
confidential
17. Angel Groups (and Angels): How do they differ?
Member Profile: What does the “typical” member look like? What industries,
sectors, companies do they come from?
Sector Focus. What types of companies are they investing in?
• Internet, software (vs. Hardware vs. Pharma / Bio-tech vs. Clean/Green-tech)
• B2C vs. B2B, Saas, Cloud-based, Content-based
• How does their Portfolio compare to their stated strategy?
• What is their “sweet spot”? Vs. their “also do”?
Stage. What is the target “stage” for prospective investments? What completed
milestones and characteristics are they looking to see?
• Revenues vs. Pre-Revenue? Product/Tech development? MVP complete?
• Customer/market validation? Anchor accounts? User levels?
Valuations/ Investment Size: Pre-Money valuation range and size initial
investment
• “We typically invest $200 – 500K at valuations in the $1-3 Million level.”
Group Structure / Investment Decisions. How is the Angel Group structured?
Most importantly, how are investment decisions made? Who makes them?
16
confidential
18. Individual Investor Profile: Tom Wisniewski
Direct “Angel” Investor in Companies
• $25K-250K investments; Typical valuations: $1-5 Million,
• Typical Stage: at least some “product” done, some customer/sales traction
• Sector focus: Opportunistic generally within internet/software space;
- fair amount of Saas B2B, and consumer “marketplace” models, ecommerce enablers.
- NOT (or not much?): hardware, heathcare/ pharma, cleantech
• NYC based: 50% investments in NYC area companies; total of ~80% NE overall (e.g
Boston, DC), 20% West Coast.
• Examples:
- Sociocast (social/behavioral big data analytics)
- LiveLook (Saas, live collaboration sales/service platform)
- Anvato (Ad insertion to live video streaming via proprietary machine vision)
- Moveline (Uber for the moving industry)
- Bizodo (Saas, paperwork automation; “Adobe 2.0” internet document sharing)
- Movio (Digital “RedBox”; content delivery via “last 100 ft” of wifi internet)
- HeTexted (Relationship advice forum generating content, media opportunities)
- Wanderu (Kayak for ground transportation)
- DealFlicks (a “Priceline” or “Hotel.com” for movie theater tickets)
- iCharts (tool that enables engaging, sharable, embedible chart content)
Investor in Funds
• In addition to direct investments in start-ups, invest in VC and PE funds.
• Examples:
- Social Starts (Seed fund for start-ups leveraging the Social Web)
- Brooklyn Bridge Ventures (Charlie O’Donnell’s fund)
- Entrepreneurs Roundtable Accelerator (ERA Fund)
- Greycroft Partners (Venture Fund)
17
confidential
19. NY Angels Profile
www.newyorkangels.com
Member Profile: ~100 investor/members; several early-stage funds; Member
backgrounds are generally representative of the tech / entrepreneurs / industries in NYC:
software, e-commerce, ad-tech, finance, media
Sector Focus: Internet, e-commerce, new-media, software; B2C and B2B. Mostly NYC
Area.
Stage. Mostly early stage (with some customers/revs), some pre-revenue
Valuations/ Investment Size: NYA pre-money valuations tend to range from $1M – 4M;
investments tend to range from $250K to $1M+;
• For larger rounds, NYA often leads the deal and helps find the rest of the capital by
sharing/syndicating the deal with other Angel Groups
Group Structure / Investment Decisions. NYA core structure is as a group of individual
investors. Individual investors “opt in” to deals and make their own investment decisions.
• Typical member invests $25-50K in a deal.
• In addition to the core “opt-in” model, NYA has just closed a small seed fund that will
operate in parallel (using a “democratic model” for investment decisions)
History/Background. NYA has invested $45M+ in 70+ companies.
• We are very active in the NYC entrepreneurial / early-stage ecosystem
18
confidential
20. New York Angels Process: A Monthly Cycle
1.
Proposals Reviewed Online (via Gust): 50 – 100 monthly
•
Sources:
•
NYA website/Gust (“cold call”: low prob of quality, and success)
•
Syndicated deal from other group/investor (warm intro: better quality, better
success)
•
Referral from NYA member (warmer intro: even better quality/success)
2.
In Person NYA Screening: ~15 companies monthly
•
Around 15 of the 100 are selected to present at an in person pitch/screening session
(1st Wed of the month)
•
Companies have 10 min to pitch, 5 Q&A (5 minute investor discussion)
•
Usually ~40 NYA members attend
3.
Discovery / Follow-up: 1-3 new companies enter monthly (3-6 in-process total)
•
Of the 15, 1-3 companies garner enough investor interest to move forward in some
fashion
•
If there is sufficient interest from a core group of investors, and an investor willing to
“lead”, then the core NYA process moves forward with follow-up “Discovery”
meeting(s) aka deep dives, due diligence.
•
In some cases individual investors want to follow-up and explore the company
further independently
4.
Investment Breakfast: 1-3? companies monthly
•
Those Companies that get to the term-sheet stage with several committed NYA
investors, are brought back to present to the NYA Group at the Breakfast
•
NYA Investment Breakfast meetings: 20 minute presentation + Q&A, 40-60 NYA
members attending
5.
Final Due Diligence, Legal Docs, Closing.
confidential
22. Some Best Practices for Angel Investors
Learn to Invest. Smarter you are, the better you invest. Learn from other
Angels, VC’s, entrepreneurs, all the online opinions/resources.
• Shooting from the hip, almost never works.
• “Its like unprotected sex; fun while you do it, but afterward….” - Linda Holiday
(Investor, Entrepreneur)
Know the Investment. Invest in things you have some “insider knowledge” of.
• Leverage the talents and experience of other investors and experts.
Build a Portfolio. Angel investing is very risky, need to diversify across pool of
investments
• Typical “VC” Outcomes: Out of 10 investments made:
- 3 Fail, return no money
- 3-4 “Do OK”, provide a modest return, or return “most” of investment
- 3 “Succeed and Exit”, 5-10x or more returns make up for the rest. Often
it’s the “One”: the 100x that drives the entire return
• Need 10 – 12 investments; more better.
21
confidential
23. Some Best Practices for Angel Investors
Long-Term Commitment. Plan ahead; average hold-time of Angel Investment
is 7+ years.
• Reserve capital for follow-on rounds,
• Reserve “patience” for all the speed bumps, pivots and crashes
Investment Structure Matters. [ GREAT COMPANY! ] + [….poor legal
structure] = [ Little/No returns and Misery ]
• Need to understand the key “terms”: term sheets, debt vs. equity
• But too much legal = counter productive, useless?....
Valuation Matters. [ GREAT COMPANY! ] + […wrong valuation] = [ Followon problems, and Little/No returns ]
• Most “good” exits are in the $10’s of Millions, a very few >$100M;
• Repeat after me: “THERE ARE NO BILLION DOLLAR EXITS”
22
confidential
24. A “Good” Pitch Looks Like:
What one investor
looks for…
My (TW) Short List of
What is Most Important
1)
2)
3)
4)
Market Opportunity
Product
Traction
Team
Adapted from “10 Slides to an Awesome
Pitch” by Dave McClure, 500 Start-Ups
1. Elevator Pitch
2. The Problem
3. Your Solution (Demo Here!)
4. Market Size
5. Business Model ($)
6. Proprietary Tech
7. Competition
8. Marketing Plan
9. Team / Hires
10. Money / Milestones
TW: + Evidence of Traction!!!! Market Fit!!!!!
http://www.slideshare.net/dmc500h
ats/how-to-pitch-a-vc-sept-2010
23
confidential
25. Key Success Factors and Advice
for attracting Angel Investment
Pitch, Get Feedback, Revise. Repeat. No venture idea was built in a
vacuum. The ONLY way to develop business ideas is to share them, solicit
feedback, make adjustments, develop/refine/add and…..DO IT AGAIN!
• Many ventures fail to gain investor attention because there are too many gaps
(perceived and real).
Find Good Advisors. To get good, detailed feedback and input you need to be
talking to right people, with the right experiences: Experienced entrepreneurs
and investors, prospective clients and partners.
• “Look for advisors. Find investors.”
• How? Networking, networking, networking….
Communication is Paramount. Potential investors (or potential employees,
customers, etc.) usually start out knowing nothing about you or you venture.
Getting someone up to speed: a challenge. Getting someone to write a check:
a big challenge. At the core is effective communication:
• Written: Business Plan, “One Pager”, e-mails, pitch decks
• In Person: Elevator Pitch, stand-up pitch presentation, video
• ….just as importantly: formally developing these pitches/plans will
improve/refine your actual business (its not just about telling your story to
others)
24
confidential
26. Key Success Factors and Advice….continued
Find Investors that Fit. As a general rule, people invest in things that they
understand and have experience with; find Angels that come from industries,
sectors, etc. that are same/similar to your venture and the customer markets it
serves.
• If I have never invested in Caribbean real estate, oil wells….or
communication hardware, it is very unlikely that I will do it with you.
• For Angel Groups: use online bio’s / LinkedIn to identify likely “good fit”
Angels
Find “Lead” Investor(s). Its critical to get one or more investors on board
who can take the lead in driving the investment process: due diligence, term
sheet, investor commitments, closing documents/process
• Investors trust…..other investors. Their interests are aligned. Lead
investors help attract additional “followers”. With Angel Groups: use available
bios / LinkedIn to
Understand (and Manage) the Process. You are more likely to succeed if you
really understand what’s happening (or should be happening) For each step
(e.g. investor search, screening, presentation, due diligence, term sheets, etc.):
• What is happening or needs to?
• Why? What’s the rationale?
• Who is doing what? How do perspectives and motivations differ?
• ……now, what can I do to make it work for me?
25
confidential
27. Key Success Factors and Advice….continued
Valuation (and Key Terms). Be realistic. Be Flexible. Realize this is a
professional (not personal) discussion ; there will be back and forth. Ultimately
the “market” sets the price/terms.
• There is more to investment terms than valuation….Important to understand.
Timing. Am I ready for Angel Investment?......A few probing questions:
• Have you covered the key success factors mentioned here? Do you have a
compiling business opportunity with huge growth potential?
• Do you really need the money? Now? The more that you can accomplish on
your own, the more compelling your case (and valuation) will be…..
• Are you ready to work for a someone else? e.g. the investors, the board of
directors
• Fund raising is “brain damage”. It wastes valuable time that could be spent
growing the business. Avoid it, minimize it, delay it if you can.
26
confidential
28. Thanks!
Thomas Wisniewski
Contact Info
Email: thomas@rosepaul.com
LinkedIn: http://www.linkedin.com/in/thomaswis
Twitter: @thomaswis
This presentation: http://www.slideshare.net/Thomaswis/
New York Angels www.newyorkangels.com
New York Angels Educational Meetup: http://www.meetup.com/NY-Angels/
27
confidential