This document provides biographies of three speakers, Jeremy Halpern, Christopher Mirabile, and Gail Hoffman, who will be presenting on pitching business plans and startups. It then outlines some key slides and content that should be included in the presentation, such as an introduction slide with the company logo and contact information, a value proposition slide summarizing the company's strengths and direction, a problem/opportunity slide describing the problem being solved and metrics around its magnitude and impact, and a product/service solution slide explaining how the company's offering addresses the problem. The presentation aims to provide entrepreneurs guidance on effectively communicating their business idea to investors.
Amanda Rendle, Global Head of Marketing, HSBC Commercial Bank, originally shared this presentation at LinkedIn FinanceConnect:14 in New York City.
HSBC’s Commercial Bank is devoted to creating opportunity for international aspirant businesses through facilitating global connections. Learn how HSBC CMB built a global content ecosystem that helps customers and prospects grow their businesses through an intelligent integrated program. See how they leveraged their Global Connections portal, a Global Connections group on LinkedIn, content rich media, and "in-feed" snackable content – to better service their customers.
Coca Cola Financial Analysis Final Project for Financial Accounting, St. Thomas MBA program. Group projected included Leanna Privette, Robin Toal, and April Vassau.
A Presentation on Integrated marketing strategies of Kelloggs in India. This presentation includes company profile, entry in India, promotion tools, business strategy, advertising strategy, competition and the factors of success and failure as a brand in India.
Project Report Final Coca-Cola Internal AnalysisZeeshan Azam
This project report is all about Coca-Cola Beverages Pakistan Limited and including the factors of Marketing tools and techniques which are established in the Company.
Infographic showing the journey Unilever has and continues to make towards its end goal of 100%, traceable and sustainable palm oil. The journey for Unilever began in 2004 as one of the founding members of the Roundtable on Sustainable Palm oil, RSPO.
This business plan assignment is completed done by my senior classmate, Akibul Islam Amit. I uploaded this in respect of him. I hope this presentation assignment will support the presenters during their business presentation.
Applying for Angel Funding- Part 1: An Angel’s PerspectiveThe Capital Network
Not all angel groups are created equal. Hear from the leaders of the top angel groups in Boston on where to begin when you are approaching angel groups. Learn what to expect, what they like to see, and how to make your application and pitch stand out.
Questions answered will include:
How do you approach angel groups?
How do you get a Champion?
What are the most important parts of the application? What aspects of my company will Angels care most about?
What is the best way to prepare for your pitch to an angel group?
What about the JOBs act and the new solicitation rules, how does that change the landscape?
Amanda Rendle, Global Head of Marketing, HSBC Commercial Bank, originally shared this presentation at LinkedIn FinanceConnect:14 in New York City.
HSBC’s Commercial Bank is devoted to creating opportunity for international aspirant businesses through facilitating global connections. Learn how HSBC CMB built a global content ecosystem that helps customers and prospects grow their businesses through an intelligent integrated program. See how they leveraged their Global Connections portal, a Global Connections group on LinkedIn, content rich media, and "in-feed" snackable content – to better service their customers.
Coca Cola Financial Analysis Final Project for Financial Accounting, St. Thomas MBA program. Group projected included Leanna Privette, Robin Toal, and April Vassau.
A Presentation on Integrated marketing strategies of Kelloggs in India. This presentation includes company profile, entry in India, promotion tools, business strategy, advertising strategy, competition and the factors of success and failure as a brand in India.
Project Report Final Coca-Cola Internal AnalysisZeeshan Azam
This project report is all about Coca-Cola Beverages Pakistan Limited and including the factors of Marketing tools and techniques which are established in the Company.
Infographic showing the journey Unilever has and continues to make towards its end goal of 100%, traceable and sustainable palm oil. The journey for Unilever began in 2004 as one of the founding members of the Roundtable on Sustainable Palm oil, RSPO.
This business plan assignment is completed done by my senior classmate, Akibul Islam Amit. I uploaded this in respect of him. I hope this presentation assignment will support the presenters during their business presentation.
Applying for Angel Funding- Part 1: An Angel’s PerspectiveThe Capital Network
Not all angel groups are created equal. Hear from the leaders of the top angel groups in Boston on where to begin when you are approaching angel groups. Learn what to expect, what they like to see, and how to make your application and pitch stand out.
Questions answered will include:
How do you approach angel groups?
How do you get a Champion?
What are the most important parts of the application? What aspects of my company will Angels care most about?
What is the best way to prepare for your pitch to an angel group?
What about the JOBs act and the new solicitation rules, how does that change the landscape?
The slide deck we used to raise half a million dollarsBuffer
This is the pitchdeck we used to raise half a million dollars from Angel investors. More here:
http://onstartups.com/tabid/3339/bid/98034/The-Pitch-Deck-We-Used-To-Raise-500-000-For-Our-Startup.aspx
What goes into a pitch deck? Jeremy Halpern of Nutter McClennen and Fish tells us. Want to learn more? Check out the October 24 Fast Track: http://www.thecapitalnetwork.org/programs/venture-fast-track/
This presentation is for the TCN Venture Fast Track. Please review the slides in conjuntion with the below video:
http://www.youtube.com/watch?v=ALjvwVHHzh8&feature=share
So you have built an amazing early stage life science company. Now you need to explain it. This panel will cover how to concisely communicate a company’s value proposition to investors in a variety of formats including the elevator pitch, an angel presentation and a VC meeting.
You never get a second chance at a first impression. Early-stage ventures seeking investment need to know how to target, locate, approach, and close with venture capitalists, angels, and strategic investors. Hear first-hand a successful pitch from an entrepreneur who has closed a funding round (or two) and how the company’s pitch evolved over time.
KTN’s Innovation Canvas is designed to help you to identify the steps needed to make your idea succeed. It provides a powerful framework for assessing the strengths and weaknesses of a specific project, identifying the most urgent challenges to overcome, and prioritising what action to take. During this 1-hour webinar we explained how to make the most of all the Innovation Canvas has to offer, providing attendees with all the information needed to get started.
This lecture covers all the essentials of building and delivering an effective pitch to help you find financing for your entrepreneurial venture or sell your product to customers. Learn the elements of a good pitch deck and identify the key elements of good communication that successful start-ups use.
This lecture discusses how to build and deliver an effective pitch to help you find financing for your entrepreneurial venture or to sell your product to customers.
How to Develop a PowerPoint Pitch Deck for Biotech Investor PresentationsCraig Shimasaki
A critical tool for all biotech entrepreneurs is an Investor Slide Deck or “Pitch” Deck. This example is provided to help those who want guidance on what topics and information are important for a biotech investor presentation. I have put together some basic information about what a biotech investor pitch deck should contain when presenting for the first time to a group of potential investors. Realize that this is not a template per se in which to simply fill in the blanks, but an ordered list of topics that are significant to most all biotechnology investors. For more information read the BioBlog at www.biosourceconsulting.com
Getting funded sometimes seems like a career itself (and indeed it is a big part of the CEO’s responsibilities). In order to succeed, need to understand both the rules of the game and the equipment – without these you may squander some of your most valuable resources - time and relationships. Two keys communication tools are the Executive Summary and the PowerPoint Presentation (Pitch Deck). This forum will help you understand how these tools are used to generate a face-to-face meeting, make a persuasive and memorable presentation, and then follow through with the details needed for investors to begin their due diligence process.
Selling Solutions Using a Compelling Value PropositionCompTIA
In a webinar presented by Marty Gilbert, president, Growth Initiatives LLC, and Bob Sherlock, president, Marketwerks, learn how to lay the foundation for solution selling, and then execute it. CompTIA’s webinar focuses on how to develop well-targeted value propositions for each customer segment, and bring them to market successfully.
Similar to Pitching the Plan and Financial Projections (20)
We originally created the 'OWN YOUR RAISE' Fellowship for Female Founders to solve some of the unique issues women founders face when it comes to raising money: lack of access to knowledge and investor networks and a need for greater confidence and executive leadership growth in scenarios where they are often the only woman in the room. But this program is now so much more: it's a safe space where Fellows can be inspired by and champion each other, connect and build on their leadership & fundraising strategy, and execute & celebrate their many milestones together.
The pressures of running a business while looking for funding causes many founders to underestimate the importance of creating a clear fundraising strategy. You don’t want to waste your time seeking capital without a clear timeline and plan. In this workshop, the experienced investors and entrepreneurs will guide you on how to best prepare, plan and execute a strategy that’s best suited to your business.
This workshop will also address the specifics of what it means to raise capital as a female founder and provide practical tips, checklists, templates and interactive exercises so you can start applying these to your company and Own Your Raise.
Key topics addressed include:
What’s the landscape of raising money for female founders?
What does raising capital mean for me and for my business?
Is my company ready to raise?
How much should I raise?
What’s the process and timeline of raising from angels/VCs?
How can I best prepare to raise my first outside capital?
How do I figure out and understand who the right investors are for my company?
How can I best align running my company and running a fundraising round?
What are the resources out there that can help me fundraise?
By attending this workshop, you will:
Understand what raising outside capital means for you and your business
Have a clear understanding of how to create a fundraising strategy that makes sense for you and for your company
Learn about resources to help you fundraise
Get checklists and templates for planning and executing your raise
Get access to the slides & recording
Please note that this is a woman-only event. Use of “women” & “female” is inclusive of and welcomes trans women, nonbinary folks, and anyone who identifies with womxnhood in any way that is significant to them.
Tcn investment & inclusion series - emerging fund managers opportunities and ...The Capital Network
Emerging Fund Managers, or those managers who generally have less than $100M under management, are managing fewer than three institutional funds, and focused on early or seed-stage ventures, have become one of the fastest-growing segments in the venture capital industry. Many of these managers come from diverse backgrounds and/or are interested in investing in diverse founders. Our conversation will highlight the opportunities and challenges faced by emerging fund managers as they aim to diversify the venture capital funding landscape.
Back in 2016, we created our 'OWN YOUR RAISE' program to solve some of the unique issues women founders face when it comes to raising money: lack of access to knowledge and investor networks and a need for greater confidence and executive leadership growth in scenarios where they are often the only woman in the room. We have created a safe space where fellows can be inspired by and champion each other, where they can connect and build on their leadership and fundraising strategy, and where they can ultimately OWN. THEIR. RAISE.
Crowdfunding has become an increasingly popular funding strategy for early stage entrepreneurs — but it’s not a guaranteed success. We’re partnering with IFundWomen, a crowdfunding platform for women-led businesses to bring you this workshop. Whether you are creating a campaign for funding or for market validation, we’ll help you create an enticing campaign that will resonate with your audience and provide your business with the capital it needs to keep growing. Our crowdfunding experts will walk you through practical ways to hone your pitch, map your network, strategically estimate your fundraising goal, market to your target audience, and design rewards that sell. We’ll also provide useful resources, playbooks, toolkits, etc that you will need to rock your crowdfunding campaign.
Cash flow is the lifeblood of a startup. Effective cash flow management is fundamental to a business’s success.
As a founder, understanding your cash position is super important and you must have a firm grasp of cash flow mechanics to keep your business operating smoothly. To help you stay on top of it, in this webinar, we’ll break down the basics of cash flow management and provide tips so you can guarantee a healthy cash flow for your business.
With a clear understanding of your company’s cash flow, you can get through downturns and be in a strong position to grow in a new post-COVID environment.
In 2016 we created the Fellowship For Female Founders, a 6 month+ program to support women from the New England area looking for their 1st outside capital to get the support they deserve.
This fellowship helps them Own Their Story, Own Their Numbers and Own Their Network so they can confidently OWN THEIR RAISE.
Tcn investment & inclusion panel - dei & vc firms- structural barriers to eq...The Capital Network
Recent conversations around DEI in VC firms have centered on diversifying portfolios and hiring. But what happens if the very organizational processes and governance of these firms are actively creating barriers to achieving DEI initiatives? In this conversation, we discuss Pledges, Riders, Board Placements and more to understand what works and doesn’t, and what VC firms can do differently to create structural change.
In 2016 we created the Fellowship For Female Founders, a 6 month+ program to support women from the New England area looking for their 1st outside capital to get the support they deserve.
This fellowship helps them Own Their Story, Own Their Numbers and Own Their Network so they can confidently OWN THEIR RAISE.
The Fellowship For Female Founders - Applications & What You Receive As A Fel...The Capital Network
In 2016 we created the Fellowship For Female Founders, a 6 month+ program to support women from the New England area looking for their 1st outside capital to get the support they deserve.
This fellowship helps them Own Their Story, Own Their Numbers and Own Their Network so they can confidently OWN THEIR RAISE.
The $2 trillion federal coronavirus relief package signed recently, officially known as the CARES Act, includes the nearly $350 Paycheck Protection Program to help small businesses affected by the Coronavirus Pandemic. The new loan program is designed to help small businesses with their payroll and other business operating expenses. The Small Business Administration (SBA) will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.
The SBA and the Department of Treasury have released the information that will guide the programs. To help entrepreneurs better understand how can they benefit from the program, we created the webinar in partnership with the SBA, Cambridge Trust and the law firm Nutter to answer questions including:
Who are eligible for a Paycheck Protection Program loan?
How do businesses apply? What information is needed?
How much money can a business receive through the loan program?
When will the loans be available?
What’s the interest rate?
What does the payment schedule look like?
How does the Affiliation Rules affect VC-backed startup’s eligibility?
Can the loan eventually be forgiven? What’s the eligibility for loan forgiveness?
What if the PPP Loan does not cover a business’s needs? What are the other options under the CARES Act?
Unfamiliar with the SBIR program and don’t know where to start? Here are some tips from The Isis Group on how to prepare your company for your first SBIR/STTR submission.
You might be interested in getting your startup into an accelerator – and rest assured Boston has no shortage of options – but it’s hard to know exactly what the best options for your stage and industry are.
From business support, mentorship and desk space, to equity vs non-equity, marketing, and even prize money – accelerators offer a whole lot and can really help you develop your product, brand, and network.
Calculate Financial Projections for Investment PresentationsThe Capital Network
Financial Projections are key in all aspects of the fundraising process: Pitching, Valuation, Due Diligence, and in the long term planning of your company. Join our experts in an overview discussion of financial projections and learn the key metrics that will get investors to notice you, as well as those that will get you rejected. With the expert advice of serial Startup CFOs and VC Analysts we’ll walk you though the process of what you need to know. If you have no or little idea where to begin with your financial projections, this program is for you.
Understanding Angel & Venture Term Sheets: A Play In 3 Acts. An re-enactment of negotiations between entrepreneurs, engineers and investors. For early stage entrepreneurs and startups.
2. Jeremy Halpern
Biography
› Nu#er,
McClennen
&
Fish,
LLP
-‐
Partner;
Director
of
Biz
Dev,
Emerging
Companies
Team
• Top
10
Boston
law
firm
• Represent
clients
in
technology,
hardware,
soJware,
mobile,
medical
devices,
health
IT,
biotechnology,
cleantech
CPG,
consumer
electronics,
sports
&
entertainment
• Provide
support
and
outreach
to
the
entrepreneurial
community
› Boards
and
OrganizaOons
› MassVentures
–
Director
&
Investment
Commi#ee
Member
• The
Venture
Arm
of
the
Commonwealth-‐-‐
catalyzing
innovaOon
in
Massachuse#s
by
providing
seed
and
early
stage
venture
funding
to
high
growth
technology
startups.
› The
Capital
Network
–
Director;
Past
Chairman
• Providing
educaOon,
resources
and
community
to
high
growth
entrepreneurs
and
angel
investors
as
they
navigate
the
early
stage
capital
process
› Entrepreneurial
Experience
-‐
Entertainment
and
Digital
Consumer
Products
› UC
Berkeley,
B.A.
(Go
Bears!);
UCLA
School
of
Law,
J.D.
2
3. Christopher Mirabile
Biography
• Co-‐Managing
Director
of
LaunchPad
Venture
Group
•
Named
XConomy's
"Top
Angel
Investors
in
New
England"
for
2012
• Adjunct
lecturer
in
the
MBA
program
at
Babson
College
• Entrepreneur-‐in-‐Residence
at
Babson's
Olin
School
of
Business.
• Previous:
• CFO
-‐
IONA
Technologies
PLC
• Corporate
and
securiOes
lawyer
-‐
Testa
Hurwitz
&
Thibeault
• Management
consultant
with
Price
Waterhouse's
Strategic
ConsulOng
Group
• Christopher
earned
his
J.D.
from
Boston
College
Law
School
and
his
B.A.,
with
honors,
from
Colgate
University
3
4. Gail Hoffman
Biography
• Managing
Director
–
Golden
Seeds
• Previous
• Corporate
Finance
Department
of
Dean
Wi#er
Reynolds
• Boston
Ventures
Management
Inc.,
a
private
equity
firm
focused
on
the
communicaOons
and
entertainment
industries.
• Received
an
MBA
with
High
DisOncOon
from
The
University
of
Pennsylvania’s
Wharton
School
4
5. Nutter’s Emerging Companies Group
5
As
a
full
service
firm
with
a
dedicated
team
of
lawyers
in
the
Emerging
Companies
Group,
Nu=er
supports
ventures
across
the
innova>on
economy:
• Biomedical
Devices
• Biotechnology
• PharmaceuOcals
• Life
sciences
• SoJware
• Hardware
• InformaOon
Technology
• Cleantech
• Mobile
• Consumer
Products
• AnalyOcs
• New
Media
• RoboOcsa
We
provide
entrepreneurs
will
the
full
spectrum
of
support
that
they
need
to
build
their
businesses
and
realize
their
visions:
• EnOty
FormaOon
• Founders
Agreements
• Financing
Strategy
and
Key
IntroducOons
• Angel
&
Venture
Capital
• Debt
Financing
• Private
Equity
• IniOal
Public
Offerings
• Private
Placements
• Strategic
Partnering
• Mergers
&
AcquisiOons
• Employment
support
• Equity
CompensaOon
• Tax
Strategy
• LiOgaOon
• Licensing
• DistribuOon
• Manufacturing
• Supply
Agreements
• Electronic
Commerce
• Patent
and
Trademark
Strategy
&
ProsecuOon
6. Cover Slide Introduction
• 1
Minute
Elevator
Pitch
– Get
their
a#enOon!
• Introduce
company
without
distracOng
from
spoken
introducOon
• Sets
the
tempo
• Content:
– Logo
– Tag
Line
–
should
explain
business
and
begin
to
differenOate
– Contact
informaOon
‒ Name
of
the
investor/group
to
whom
presentaOon
is
delivered
‒ Possibly
a
non-‐distracOng
picture
• Be
enthusiasOc
–
people
buy
from
people
not
PowerPoint
6
7. Company Value Proposition (*Zoom out)
• Argued
to
be
most
important
slide
in
presentaOon
–
a
1
slide
summary
– Important
enough
to
repeat
3
Omes
– Bookend
the
deck
–
begin
and
end
presentaOon
• Content
objecOve
–
why
should
investors
invest
– 5-‐7
bullets
outlining
strengths
and
direcOon
of
presentaOon
• Core
technology
• Product
candidates
• Market
opportunity
• Key
partnerships
• Management
strengths
7
8. The Problem a/k/a the Opportunity
• What
is
the
unsolved
problem
or
need?
• Who
has
this
problem?
Define
your
Core
Customer
and
their
a#ributes
• How
serious
is
it?
Do
you
have
Metrics?
– Magnitude
:
How
significant
is
it?
Can
you
quanOfy
it?
– Frequency:
How
oJen
is
pain
experienced
(life
insurance
vs.
coffee)
– CriOcality:
Will
the
pain
disrupt
the
business
(e.g.,
IT
outage).
• Cancer
Drug
vs.
Aspirin
vs.
Vitamin?
• How
have
the
alternaOve
offerings
failed
to
meet
the
need?
• Analysis
of
why
has
the
problem
not
been
solved
unOl
now?
• Remember!
– Customers
buy
if
they
experience
need,
not
if
society
does.
– Business
customer
buy
to
make
money
or
solve
problems.
8
9. Product/Service Solution
• Describe
your
product
or
service?
• What
does
it
do
and
how
does
it
work?
• Do
not
get
too
detailed?
Assume
technical
ma#ers
will
be
validated
later.
• Use
pictures
or
diagrams
where
possible.
• Demo
/
screen
shots,
etc.
if
necessary.
• How
does
it
fit
within
the
customer’s
environment?
• What
proof
of
concept
have
you
achieved?
Prototype?
Beta?
• What
proof
do
you
have
of
its
effecOveness?
• Use
accurate
words
to
describe
phase
of
development:
• “it
does”
vs.
“it
will”
vs.
“it
may”
9
10. LifeSci Only:
Regulatory Progress and Path
• Are
you
IND
or
510k?
Any
addiOonal
details?
• Costs
and
Oming
and
paOent
populaOon
of
trials
needed
to
obtain
approval?
• Phase
1,
Phase
2
(2b),
Phase
III
• Strategy?
•
Team
or
consultants
with
experience
in
obtaining
approval?
• Roadblocks
or
risks?
• RelaOonship
of
path
to
exit
Oming
10
11. Solution Value Proposition and
Competitive Advantage (*Zoom In)
• How
is
your
soluOon
be#er,
faster
or
cheaper
than
the
exisOng
soluOons
for
your
customer?
**Remember
Different
≠
Be#er**
– Saves
costs
-‐
– Drives
revenue
or
customer
acquisiOon
– Allows
customer
to
offer
its
customers
a
superior
value
proposiOon
– Decreases
risks
– Leverages
customer’s
exisOng
customers
or
soluOons
– Provides
enjoyment,
recreaOon,
educaOon,
Ome
saving…
(consumer
product)
• How
much
be#er,
faster,
cheaper?
Can
you
quanOfy
the
value
proposiOon
to
the
customer?
– Can
you
validate
that
your
soluOon
is
be#er?
Do
you
have
data
to
indicate
that
such
items
are
meaningful
to
the
customer?
– Can
you
quanOfy
a
Return
on
Investment
(ROI)
for
your
customer.
11
12. • Who
is
compeOng
with
you?
• Barriers
to
entry
for
you?
For
others?
Ones
that
you
are
creaOng?
Competitive Landscape
12
• Blocking
IP
• Startup
Cost
to
compeOOon
• Change
Cost
to
customers
• Geography
• Contract
exclusivity
or
change
penalOes
• Market
dominaOng
companies
(“800lb
Gorillas”)
• CompeOOve
Advantage
revisited
-‐
Why
will
you
be
able
to
win
(not
“cooler”)
• Points
soluOon
vs.
total
soluOons
• Current
major
compeOtors
and
why
you
will
beat
them
• Avoiding
the
“no-‐compeOOon
trap”
• Explaining
their
trends
of
growth
or
contracOon
• On
a
matrix
–
show
advantages
and
areas
where
you
don’t
compete
• Pick
metrics
your
customers
care
about
not
just
those
you
“win”
at!
• Avoid
upper
right
quadrant
graphs
13. Comparative Advantage &
Focus
Criteria
1
Criteria
2
Criteria
3
Criteria
4
You
CompeOtor
1
CompeOtor
2
CompeOtor
3
13
• Choose
criteria
important
to
your
customers
and
to
end
users
/
paOents
• Show
focus:
being
best
in
class
in
only
certain
things
• Show
where
you
are
not
compeOng
14. • How
and
when
will
you
make
money?
• Who
is
going
to
pay
(i.e,
what
is
the
“Revenue
Model”)?
Who
are
YOUR
customers?
• Manufacturing
and
commercializaOon
strategies
• Timing
and
frequency
of
buying
decision
and
payments
• Average
$/purchase?
Likely
to
increase
or
decrease?
• Cost
of
Customer
AcquisiOon
(CCA/CAC)
vs.
LifeOme
Value
of
Customer
(LTV/LVC)
• Fixed
vs.
variable
costs
• Revenue
Model
–
and
consequences
to
volume,
price,
margin
etc.
of
each:
• Direct
/
Indirect
Sales
• Razor
and
Blade
• Professional
Services
• SAAS
• Licensing
• Government
Contractor
Strategy:
Business and Revenue Model
14
15. • How
you
get
your
customers
and
costs
• How
you
actually
deliver
soluOon
to
customers
(trucks,
distributors
or
click?)
• Go-‐to-‐Market
and
General
MarkeOng
strategies
• How
you
incenOvize
and
compensate
sales
(if
applicable)
• Explain
geography
and
expansion
strategy
(scaling
or
growth
issues)
• Discuss
criOcal
distribuOon
partners,
opOons
and
roadblocks
• Core
business
vs.
non-‐core
business
• potenOal
licensing
or
spin-‐off
opportunity
• Conversion
metrics
(idenOficaOon
>
lead
>
sales
process
>
conversion)
Sales and Distribution Model
15
16. LifeSci Only: Cost vs Revenue /
Role of Reimbursement
• You
cannot
“help
the
system
save
money”
– if
your
soluOon
is
cheaper
than
the
compeOOon,
understanding
the
moOvaOon
of
the
payor
vs
the
provider
(to
whom
cost
may
equal
revenue)
• Will
you
need
reimbursement?
– Status
of
code
designaOon?
Strategy?
• Comparables
for
reimbursement
pricing?
• If
deployed
onto
paOents,
the
long
term
savings
to
payor?
16
17. • Industry
size
=
the
total
revenue
generated
in
a
segment
of
the
economy.
• These
are
what
are
tracked
by
Forrester,
Gartner,
Thomson
etc.
• Only
useful
for
trend
analysis,
not
for
evaluaOng
investability.
• Example:
“The
internet
adverOsing
industry
is
an
$X
billion
industry”
• Addressable
Market
=
the
total
amount
of
revenue
that
your
company
could
generate
if
it
acquired
every
potenOal
customer
(the
“Addressable
PopulaOon”).
• Willing
and
able
buyers
that
you
can
reach
• Ini>al
Target
Market:
subset
of
the
addressable
market
for
whom
the
value
proposiOon
is
truly
compelling
and
obvious
at
product
introducOon.
• Annual
Sales:
that
subset
of
the
addressable
market
or
the
iniOal
target
market
who
buy
or
who
are
likely
to
buy
each
year.
• Explain
how
the
market
is
changing
and
why.
• Customers,
pricing,
compeOOon,
new
technology,
etc.
• $500m
TAM
vs.
$50m
TAM
–
know
your
investors!
The Addressable Market
17
18. • Intellectual
Property:
Patents,
Trademarks,
Copyrights,
Trade
Secret
• Difference
between
provisional,
applicaOons
and
granted
patents
• Patent
strategy
• IP
that
covers
advantage
vs.
extraneous
claims/assets
• How
unique
is
your
soluOon?
• Trade
Secret
and
development
lead;
Ease
of
replicaOon
• Cost/Ability
of
customer
to
replace
your
SoluOon
• Key
relaOonships
• Contractual
protecOon
• FDA
Approvals
• SancOoned
monopolies
(e.g.,
cable
systems)
Defensibility
18
19. Management Team and
Advisors
• Top
execuOves,
Board
of
Directors,
Board
of
Advisors
&
SAB
• Startup,
domain,
customers
or
key
opinion
experience
• Prior
success
• Balance
• Cohesiveness
• Don’t
put
their
whole
resume
on
the
slide
• Only
show
acOves
• Current
staffing
gaps
and
strategy
for
filling
• OrientaOon
towards
success
not
control
(“Rich”
not
“Monarch”)
19
20. Current Status: Achievements and
Upcoming Milestones
• Demonstrate
current
progress
and
achievement
of
milestones
• Development
partnerships
• DistribuOon
partnerships
• Customer
acquisiOon
progress
(conversion
rates)
• PublicaOons
• Financing
• Team
Developments
• Upcoming
milestones
and
Challenges
• Gant-‐style
Charts
• How
you
will
overcome
the
challenges/weakness
(ex.
key
hire)
• OJen
integrated
with
use
of
proceeds
slide
20
21. • IdenOfy
exisOng/Oming
of
prior
preferred
stock
deals
• Cash
and
monthly
cash
burn
• How
much
of
burn
is
variable
vs.
fixed
• Lowest
you
can
the
Burn
without
killing
the
company
• Time
and
investment
dollars
to
reach
cash
flow
posiOve
• Timing
and
quanOty
of
future
rounds
• Current
round
size
and
Oming
• Use
of
proceeds
-‐
what
will
it
be
used
for?
What
will
it
buy?
• OpOmal
deal
structure
• Pre
Money
ValuaOon
• Dangers
of
including
suggested
valuaOons
• Dangers
of
not
knowing
the
appropriate
valuaOons
Funding, Cash and Use of
Proceeds
21
22. • Technology
/
Product
–
Will
the
soluOon
work?
Can
you
build
it?
• Business
Model
–
Can
you
sell
the
soluOon
at
margin?
• Supply
–
Can
you
acquire
and
manage
criOcal
vendors
• Customer
AdopOon
Risk
–
Will
the
Dogs
eat
the
Dog
Food?
• Market
Dynamics
–
Do
customers
have
cash
and
the
will
to
spend?
• DistribuOon
Risk
-‐
Can
you
acquire
and
run
criOcal
distribuOon
and
sales
points?
• CompeOOon
Risk
–
Is
there
an
opportunity
in
the
marketplace?
Will
an
800lb
gorilla
eat
your
lunch?
• Financial
risks
–Will
you
have
sufficient
or
available
capital
now
and
in
the
future?
• Legal
risks
–Freedom
to
operate
?
Do
you
have
the
ability
to
defend
your
IP?
• Regulatory
risks
–
Are
there
barriers
beyond
your
ability
to
influence?
• Team
risks
–
Is
our
product
or
customer
knowledge
distributed
and
accessible?
• Exit
Risk
–
Are
there
willing
buyers
(or
a
public
market)
for
your
company?
Risks and Plans
22
23. • Length
to
liquidity
• IPO
vs.
M&A
vs.
Licensing
(vs.
other)
• PotenOal
Acquirers
• Acquirer
characterisOcs
and
raOonale
for
acquisiOon
• How
frothy
is
the
current/expected
market
now
and
at
maturity
• Recent
exits
for
similarly
situated
companies
• ValuaOons
(if
available)
• Counterpoint:
Building
a
company
vs.
building
an
exit
Exit Strategy and Options
23
24. Summary
Slide
/
Investment
RaOonale
• End
with
a
summary
of
what
you
have
just
said.
• Leave
them
with
the
key
message
points
you
are
trying
to
convey.
• Be
prepared
for
quesOons
•
Appendices
• All
of
the
informaOon
that
may
backstop
your
conclusions
• Case
studies
• Customer
tesOmonials
• More
detailed
technical
or
product
informaOon
• More
detailed
market
or
customer
informaOon
• Demo
videos
24
25. • P&L
–
Historical
+
3-‐5yrs;
OJen
with
cash,
customers
and
headcount
• Segment
revenue
by
type
of
revenue
• Fixed
vs.
Variable
cost
structure
• Revenue
and
Margin
RaOos
• Think
about
cash
flow
Oming
issues
–
see
revenue
model
(e.g.,
direct/
reimbursement)
• Bo#om-‐Up
vs.
Top-‐Down
projecOons
• AssumpOon
tab
in
the
Excel
build
• What
does
“conservaOve”
mean:
Use
of
High
/
Medium
/
Low
• Perfect
vs.
FuncOonal
–
Running
your
business
vs.
Building
a
model
• AnOcipaOng
investor
cutback
• Risks
of
projecOons
being
Oed
to
equity
and
compensaOon
• ValuaOon
Issues
Financials and Projections
25
27. Building
ProjecOons:
Yeah,
but…
• Business
plans
with
financial
projecOons
are
necessary…
– Bo#oms-‐up
vs.
Top-‐down
– HINT:
You're
trying
to
talk
yourself
out
of
this!
• Financial
projecOons
are
a
key
porOon
of
the
due
diligence
most
investors
perform
• I’ve
heard
that
I
don’t
really
have
to
build
a
business
plan
with
financial
projecOons
because
no
one
actually
reads
it…
Investors
are
more
interested
in
the
assump1ons
made
when
building
financial
projec1ons,
not
the
exact
bo;om
line
FOR
YOU
28. More
on
Scenario
Planning…
Worst-‐case
scenarios
should
answer
“What
happens
if
there
is
no
outside
capital?”
– if
the
answer
isn't
'grow
slower',
is
this
a
pipe
dream?
Best-‐case
scenarios
should
answer
“What
does
this
business
look
like
if
everything
goes
right?”
– if
the
answer
isn’t
a
huge
financial
win
for
your
investor,
is
this
a
pipe
dream?
Most-‐likely
scenarios
should
answer
“What
does
this
business
look
like
following
comparable
companies’
growth
paths?”
– if
the
answer
isn’t
able
to
be
funded
with
the
current
“ask”,
is
this
a
pipe
dream?
Goldilocks
got
it
right:
examine
all
op1ons!
29. ProjecOons:
Start
with
Revenue
Take
a
“Bo#oms
Up”
approach
• Ex:
We
have
tracked
X
unique
visitors
to
our
website
and
with
an
industry
averages
2%
conversion
rate,
sales
will
be
Y.
• Ex:
Survey
revealed
customers
are
willing
to
pay
$X
for
an
app
with
Y
features.
• Ex:
Q4
sales
were
$X.
With
a
customer
acquisiOon
cost
of
$Y,
we
expect
a
20%
growth
rate
as
a
result
of
markeOng
efforts
Econ
101:
revenue
=
price
*
volume.
Knowing
which
element
is
driving
your
company’s
revenue
is
a
key
metric.
30. Building
ProjecOons:
How
it
works
• Have
an
assump>ons
page
and
reference
cells
for
your
Income
Statement
(don’t
hard
code
anything)
• A
separate
assumpOons
page
allows
flexibility
–
change
them
for
different
growth
scenarios
• AssumpOons
are
the
backbone
of
your
projecOons,
so
you
should
know
them
COLD
Excel
is
your
friend,
but
be
careful
with
cell
references
–
it’s
easy
to
make
a
mistake!
31. ProjecOons:
Add
in
expenses
This
also
has
a
“Bo#oms-‐up”
approach
• Include
details
of
all
categories
– Ex.
Headcount
is
a
step-‐funcOon
(hard
to
find
.25
person)
– Ex.
Income
taxes,
no;
Sales
tax,
use
tax,
payroll
tax…
yes!
• SG&A
– MarkeOng
– Development
– Overhead
32. ProjecOons:
Cash
Flow
• Map
out
cash
inflows
and
ou•lows
to
determine
funding
needs
–
do
this
by
month!
• Revenue
collecOon
–
Oming
impacts
cash
projecOons.
Collect
in
30
days?
60
days?
• DepreciaOon
=
noncash
expense
(include?)
• Don’t
forget
to
include
CapEx
in
cash
flow
(tooth
fairy
doesn’t
exist)
33. ProjecOons:
Some
Final
Checks
"The
GOAL”
is
to
make
money
– Social
jusOce,
triple
net
bo#om
line,
etc,
come
AFTER
profitability
• "You
can't
give
away
what
you
don't
have"
(unless
you're
the
Feds)
– You'll
need
space
one
day
that
isn't
free
– It
is
illegal
to
hire
someone
and
not
pay
them
– Equity
+
cash
=
total
compensaOon
• As
equity
values
increase,
cash
compensaOon
should
increase
as
the
less
expensive
long-‐run
pay
opOon
(this
means
you
are
WINNING!)
– Research
financial
statements
to
get
an
idea
of
expenses
you
may
have
missed
– Research
how
much
things
cost
–
don’t
guess!
34. Pitching
projecOons:
What’s
the
“ask”?
Fin
projecOons
need
to
Oe
to
the
amount
of
the
raise
– Fundraising
takes
Ome,
so
12-‐18
months
of
cash
per
raise
– IdenOfy
milestones
to
be
hit
and
cost
of
each
one
– The
sum
of
those
milestone
costs
is
the
raise
amount
– The
"cushion"
in
the
raise
is
not
X%,
it's
the
cost
difference
in
the
most
likely
scenarios
The
secret
to
life
is
“t”
– “t”
is
the
variable
for
“Ome”
in
mathemaOcal
equaOons…
and
Ome
in
projecOons
is
everything
35. Pitching
ProjecOons:
Expert
moves
• Know
your
audience
– The
earlier
you
are,
the
more
interested
in
your
assumpOons
the
investors
are
–
so
know
you’ll
be
discussing
them
in
detail.
Painstaking
detail.
• Be
rich,
not
king
– Does
a
new
hire
cut
costs
or
increase
revenue?
This
will
drive
the
Oming
of
a
new
hire.
• Don’t
forget
that
headcount
is
a
step-‐funcOon
• What
is
B/E
expectaOon
for
a
new
hire?
– Good
metric
for
HC
is
sales/employee
–
these
numbers
are
benchmarked
and
available
with
some
research.
36. Pitching
ProjecOons:
Rookie
moves
– CTRL+C+P
enOre
excel
model
into
a
slide
– Using
anything
less
than
18-‐point
font
– Li#ering
clipart
from
1995
– StaOng
projecOons
to
the
$.01
– Failing
to
summarize
projecOons
– Using
ANY
of
the
following
phrases:
• “conservaOvely
esOmated…”
• “at
only
X%
of
the
market…”
• “with
no
compeOOon…”
– Forge€ng
to
explain
what
the
amount
you
raise
achieves
– Assuming
a
short-‐term
exit
at
a
high
mulOple
38. General Dos and Don’ts:
“Presentation is a visual not a reference”
Do
• Use
one
topic
per
slide
• Limit
text
on
each
slide
• Use
pictures,
graphs,
video’s
– Not
all
bullets
• Choose
fonts
and
colors
that
are
easy
to
read
• PowerPoint
is
the
accessory
to
YOUR
presentaOon
• Spell
Check
Don’t
• Use
sounds
with
slide
transiOons
• Overdo
the
ALL
CAPS,
bolded,
italicized
or
underlined
text
• Use
too
many
different
fonts
• Overuse
special
effects
–
focus
on
the
content
• Have
technical
difficulOes
–
test
before
the
meeOng
38
39. • Know
your
material
cold!
Don’t
wing
it.
• DON’T
READ
your
presentaOon.
• You
should
have
answers
to
likely
quesOons.
• Be
clear
when
you
don’t
know
an
answer
–
then
follow
up.
• When
possible,
know
the
room.
Arrive
early,
walk
around
the
speaking
area
and
pracOce
using
the
microphone
and
any
visual
aids.
• Body
language
and
appearance
=
50%
of
the
pitch
• PrioriOze
and
eliminate
less
criOcal
points.
• Be
flexible
–
be
prepared
to
be
interrupted.
• Understand
the
goal
of
your
presentaOon.
Is
it
to
inspire,
to
educate,
to
connect,
to
get
a#enOon,
to
get
a
second
more
personal
meeOng?
Presentation Skills: Part I
39
40. • Modulate
your
pace,
pitch,
volume,
tone
and
enthusiasm
–
like
when
you
are
telling
a
story.
This
helps
keep
the
audience
focused.
• Use
humor,
personal
stories
and
conversaOonal
language
where
possible.
Use
easy
to
understand
analogies.
• PracOce.
PracOce.
PracOce!
GO
SEE
OTHER
PRESENTATIONS!
• Slides
should
HELP
the
oral
presentaOon,
not
BE
the
presentaOon.
• Bring
a
backup
copy
on
a
flash
drive
and
via
cloud
• Slides
should
be
professional
and
consistent
with
your
image.
• Spend
more
Ome
building
the
business
than
the
presentaOon
• Leave
Ome
for
quesOons.
• RELAX,
BREATHE
and
SLOW
DOWN
Presentation Skills: Part II
40
41. Interacting with Investors
Basic Principles - Overview
• Research
the
investor
in
advance
• Pay
a#enOon
to
what
you
say
during
the
presentaOon
banter
• Communicate
• Be
likeable
• State
your
value
proposiOon
up
front
• Come
prepared
with
sufficient
data
(including
back
up
slides)
• Enjoy
yourself
and
let
it
show
• Keep
the
presentaOon
within
allo#ed
Ome
• Be
realisOc
about
valuaOons
in
the
market
• Make
due
diligence
easy
• Realize
investors
are
thinking
about
exit
strategy
41
42. Interacting with Investors
Cautionary Overview – Don't do the following
• Bash
the
compeOOon
• Hype
• Condescend
or
talk
down
• Be
arrogant
• Be
vague
about
your
technology
• UnderesOmate
the
importance
of
the
core
science/development
• Deluge
investors
with
facts
• Act
desperate
for
funding
(even
if
you
are)
• Act
like
you
don’t
need
money
• Cite
that
“the
company
is
undervalued”
as
a
reason
to
invest
• Overprice
your
rounds
so
you
can
keep
stepping
up
valuaOon
• Give
investors
a
reason
to
turn
you
down
42
43. Jeremy
Halpern
Partner
Director
of
Business
Development
Emerging
Companies
Team
Nu#er
McClennen
&
Fish
LLP
Pitching the Plan: The Deck
Christopher
Mirabile
Managing
Director
Launchpad
Venture
Group
Gail
Hoffman
Managing
Director
Golden
Seeds