Pitching the Perfect Game - Wowing VCs and Angels
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If you're facing down an investor meeting or a demo day, check out this presentation from messaging expert and speech coach Bryan Rutberg, Principal at 3C Communication (@3CComms) and Early Growth Financial Services (www.earlygrowthfinancialservices.com). Topics covered include: -- The difference between pitching your product and pitching your company -- What to include in your pitch deck -- and how to make it memorable -- How to catch your audience's attention and keep it -- Presenting your problem/solution as a coherent and compelling story -- Using presentation graphics effectively -- How to own the room and more!
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Pitching the Perfect Game - Wowing VCs and Angels
- 1. Pitching the Perfect Game Wowing Angels and VCs Bryan Rutberg | 3C Communications with Early Growth Financial Services Webinar | June 23, 2015
- 2. Who are you? 2 Startup? Small established? Seeking acquisition? Established / Acquirer? Startup?
- 3. 3 Lifelong communicator and relationship-builder 20 years in big business Regular public speaker Communications consultant and speaking coach Principal, 3C Communications
- 4. What we’ll discuss today Pitching your company vs. pitching your product or service Building your pitch deck Owning the room 4
- 5. Pitching product vs. company 5
- 6. Building your pitch deck 6
- 7. “Life involves functioning with uncertainty, but we usually don’t embrace it.” Ari Kiev, Trading to Win 7
- 8. Three types of risk 8 Market Product Execution
- 9. Building your pitch deck 1. Cover: Your big idea 2. Summary: Highlights of the opportunity 3. Problem: What’s the problem, for whom, and why 4. Solution: What you do and its benefits 5. Product: Your product and how it works 6. Business Model: How you make money 7. Market Opportunity: Market size and winnable share 8. Competition: Who are they and why are you better 9. Growth: Customer acquisition and retention, profitability 10. Traction: Proof they’ll buy and what they’ll pay 11. Financials: 3-5 years projections 12. Team: Who, why, and what they have done before 13. Funding: Your ask and what you’ll do with it 14. Summary: Review highlights 1. Logo/Mission/Positioning Line/Founders 2. Problem We Solve 3. Solution 4. Market size 5. Product/technology architecture 6. IP/Defensibility/Scalability chart 7. Go to market/distribution 8. Competitor matrix 9. Revenue projections 10. Advisors 11. Use of funds 12. Exit strategy 9 Sources: http://pitchdeckcoach.com/pitch-deck and http://earlygrowthfinancialservices.com/startup-pitch-decks-will-get-funded/
- 10. The voice of an angel • Clear and real problem statement • Clear market sizing • Clear customer profile/persona. Start with an amalgam, but quickly get to actual customer quotes and profiles as quickly as possible • Clear on your competitors and your points of differentiation 10 John Sechrest, Seattle Angel Conference etc.
- 11. The voice of an angel • How big will you get and why? • Evidence the market cares? • Evidence the team can execute? • Angels don’t invest in development; they invest in scale. • Prove you can win your first market, then tell me what’s second, third, and fourth. • Watch out for Reg D 506b (link) 11
- 13. Every time Tell me a story 13
- 14. Every time Draw me a picture Tell me a story 14
- 15. Every time Draw me a picture Tell me a story Tell me what you want 15
- 16. The grand opening 16 “You can be a millionaire…and never pay taxes. You…can have one million dollars and never pay taxes. “You may ask me, ‘Steve, how can I have one million dollars and never pay taxes?’” -- 1970’s Steve Martin bit (click to play) Can you resist listening for what’s next?
- 17. Prepare your body • Hands out of pockets • Stand up straight – shoulders back, chest forward • “Willing hands” at chest level • Point • Hands spread wide • Spiral staircase – how high? • Umbrella – how wet? • Eyes – where is the audience? Who are you talking to? 20
- 18. [YOUR NAME HERE], YOU ROCK! Tell yourself you’re going to be great “Be that person” – do it in the third person August 7, 2014 ♦ Jessica Love Participants were told that they faced a nerve-wracking task: to impress a member of the opposite sex, in one study, or to give a speech. Some participants were assigned to [prepare] by speaking to themselves in the first person; the rest were instructed to address themselves using their own first name, as well as non-first-person pronouns like she, he, or you. According to reviewers, those who’d avoided I and me in their pep talks appeared less nervous, and did a better job on the task at hand. Speaking to ourselves as though we are someone else, it seems, lets us distance ourselves from an overwhelmingly stressful experience. 18
- 19. Make it memorable 19 Big bold graphics
- 20. Make it memorable 20 Graphs that work Big bold graphics
- 21. Make it memorable 21 Involve and Engage Big bold graphics Graphs that work
- 22. Own a big room Go big or go home “At the Jan. 20, 2009, inauguration of President Obama, Aretha Franklin's hat nearly stole the show.” 22
- 23. Own a big room Keep it moving Go big or go home 23
- 24. Own a big room Keep it moving Go big or go home 1, 2, 3, Eyes on me 24
- 26. Chair the boardroom Welcome to Math Camp Conversation not presentation 26
- 27. Chair the boardroom Welcome to Math Camp Conversation not presentation “How might we?” 27
- 28. Additional tips Pitch competition Small room presentation 28 Key takeaways Q&A in a pitch competition – • Look at questioner for 10 seconds then present as normal • Repeat the question for audience; give you thinking time • Remember your key points and pivot to them during answers For smaller audiences – • Could have 2 versions of deck –
- 29. On EGFS site alone… • 5 Ways to Convey Your Passion to Potential Investors • How Do Angel Investors Make Decisions? • Lessons From A Startup Pitch Competition • VC Fundraising: Real Advice From A Real VC • 6 Ways To Increase Your Odds of Landing Venture Capital • Five Startup Pitch Deck Mistakes To Avoid • Startup Fundraising: What Investors Want to See • Startup Pitch Decks That Will Get You Funded 29
- 30. Please connect 30 +1 (206) 251-6911 Follow me on Twitter http://twitter.com/3CComms bryan@3CComms.com Connect with me on LinkedIn http://www.linkedin.com/in/bryanrutberg
Editor's Notes
- Here’s who I work with who is like you – From building their Minimum Viable Product and determining interest to already have hundreds of free, freemium, or paid customers Funding via bootstrap and friends & family so far; now need to expand Understand their product/service and what sells it to customers Need help with “selling” the company story and engaging a financially savvy audience
- Product or service – pitched at end-users, story but also features and benefits Company – selling your audience that you can get to the end-users Product or service – what you get NOW Company – what you can get later – what it WILL BE Product or service – the single product or service you need right now Company – the portfolio of products or services – all that you offer
- Cover: Announce your big idea. The one thing you do better than anyone else. You have 10 seconds to engage your audience. Summary: Summarize the highlights of your business/investment opportunity as a teaser. Problem: The problem you solve, who you solve it for, and the reasons why your target customer/users are frustrated with current solutions. Solution: How you solve the problem and the benefits of your solution. Product: Your product and how it works in three simple steps. Business Model: How you make money. Market Opportunity: How much money you could make if you dominate your target market. Competition: Your competitors and why your product is better than theirs. Growth: How you will acquire and retain customers, profitably, at scale, and keep your product competitive. Traction: Tangible proof that your customers love your product and are happy to pay for it. Financials: Your current best guess of how much money you will make in the next 3-5 years. Team: The team that has the experience and expertise to transform your opportunity into a large, profitable business. Funding: How much money you need and what you will do with it. Summary: Summarize the highlights of your business/investment opportunity as a closer. Appendix: Not mandatory, but feel free to include a few slides with positive press mentions, happy customer quotes, a summary of your technology stack, your detailed financial model, etc.
- John Sechrest - current projects are the Seattle Angel Conference, The Lean Startup Seattle Group and Impact Hub Bellevue . I provide consulting around startups and building the startup ecosystems.
- How about your own size – what will it be, why? Growth rates, funnel, movement through the pipeline… tell me how much money you are going to make. Show your math – how many followers, fans, etc., and what’s your conversion rate? Where is the evidence that the market cares? Where is the evidence that the team can execute on the business? Angels don’t want to invest in development; they want to invest in scale. 10K to 15K customers is where they start to get interested for a consumer app. Pitch your vision and what you are going to do first to start realizing it. Tell me about your MVP and your initial market, but then the second, third, and fourth markets that you will get to from the first one. Show me your go to market strategy, and how big you want your market to be. Show me the numbers and the dollars. Watch out for Reg D 506b