“From The Money and The Maker” : The relationship between Product Management and Fundraising
This talk will reveal the secret of how much (if at all) is it important to communicate Product Vision when fundraising and will present both investors and entrepreneurs perspectives of the fundraising process for startups.
3. HELLO!
I am Moriya Kassis,
Senior Venture Associate at UpWest Labs
Product Management Consultant
Ex-Co-Founder of Morpheus
Not necessarily in this order...
You can find me at
moriya@productofthings.com
4. I am the Founder of
the two biggest
Product Management
communities in Israel:
Join us!
5. This presentation is based on a meetup
we held at on June 2016
and on my personal experience. Please
do keep in mind that there are no rules
in building startups. #JustProductizeIt
6. The Plan:
1.
What am I
Here For?
And What It
Has To Do
With
Product?!?
2.
Why and
When Should
Startups
Set Out
to Raise
Money?
3.
Once
Decided To
Do So, How
Can We Do
This Better
& Smarter?
4.
Assembling
the Puzzle.
Or:
#Just
Productize
It
8. 1.
What am I here for?
And what it Has to
do with Product?!?!
9. Building a startup it’s
mainly creating a product
that offers others value
and prove re-maximizing
this value every day,
in a way that brings those
users more value and
attracts more of them.
14. Please, forget about
B2B VS. B2C VS. B2B2C
AutoMotive or Impact
The reason for you to
set out to raise money
- is for you to get your
product to the market
faster.
17. When? Only when you have:
A very solid vision of your product
18. When? Only when you have:
A very solid vision of your product
“Something others can play with”
19. When? Only when you have:
A very solid vision of your product
“Something others can play with”
Feedback from users and partners
20. When? Only when you have:
A very solid vision of your product
“Something others can play with”
Feedback from users and partners
And,
21. When? Only when you have:
A very solid vision of your product
“Something others can play with”
Feedback from users and partners
And,
a very detailed understanding of
how are you going to use money
for the benefit of your product.
24. One of the most important, however
barely known fundraising lessons for
startups is that VCs care about the #
of users & downloads a product has.
25. One of the most important, however
barely known fundraising lessons for
startups is that VCs care about the #
of users & downloads a product has.
But, they care more about the habits
associated with the product.
27. Each business is different.
Each VC is different.
But ultimately if you can
show that you created
something other people
actually want to use,
That is a very good start.
34. Raising money after
proving that your
customers were willing
to pay for your product
is significantly easier.
35. ***For an early stage startup, the magic
isn’t necessarily lies within showing big
numbers but with showing a small
number of users and the understanding
of how to tie their life and your product
in a addicting however seamless way***
38. Tech product should
be closer to R&D.
Saas, E-commerce?
the PM should be
closer to the market.
39. We are not in the business of coding,
neither are we in the business of pitching.
Rather, we are in the business of creating
sustainable, and lifelong hooks using tech,
design and the little we know about mankind.