Uploaded byJennifer van der Meer
Reason Street Pitching for Value
The document discusses pitching for investment and business modeling. It provides templates and frameworks for developing business models, value propositions, and growth strategies. It emphasizes the importance of narrative, traction, world-class teams, and responding to market forces when pitching ideas to investors. Templates include the Business Model Canvas for mapping customer segments, value propositions, key activities, partnerships, resources, channels, revenue streams, and costs. Other sections explore expanding to new customer segments, accelerating growth, and considering future options for the business model.
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Reason Street Pitching for Value
- 1. P I TC H I N G F O R VA L U E F E M A L E E N T R E P R E N E U R O F T H E Y E A R J E N VA N D E R M E E R R E A S O N S T R E E T
- 2. VALUE + VALUATIONTENSION Now Next North Star
- 3. W H YI S P I T C H I N G F O R I N V E S T M E N T H A R D ? Hard to know when to listen to investors vs. follow our vision Others are getting funding, fast They have all the cards Distracting from our business Tiring. Where do I start? When do I stop? Fear rejection
- 4. T H ES T O RY L I N E
- 5. W H YI N V E S T O R S W O N ’ T B E A I ’ D S O O N
- 6. I N VE S T O R S O R T I N G Q U E S T I O N S H O W D O E S T H I S F I T O T H E R PAT T E R N S I ’ V E S E E N ? PA S S : A L R E A D Y H U N D R E D S L I K E T H I S A N D W I L L B E M O R E PA S S : T H I S I S A N E W I D E A B U T I T ’ S T O O S O O N / N O T A F I T F O R T H E M A R K E T / T H I S T E A M C A N ’ T E X E C U T E G O : N E W C O M B I N AT I O N O F I D E A S , N O V E L A P P R O A C H , W O R L D C L A S S T E A M
- 7. N A RR AT I V E A R C P I T C H E L E M E N T S • Growth story quickly understood • Clear value proposition • Well defined problem opened up by , new emergent forces • Novel combination of business model ideas • Traction (evidence of customer demand) • World class team {
- 8. WHERE IS THESTORY GOING? Now Next North Star
- 9. H O WD O E S T H E B U S I N E S S W O R K ? Customer Segments Value Proposition Customer Relationships Customer Channels RevenueCosts Partners Activities Resources Osterwalder, Pigneur
- 10. S O MA N Y O P T I O N S Customer Segments Value Proposition Customer Relationships Customer Channels RevenueCosts Partners Activities Resources Joslin Integrated Design and Dev AI ML DL Data stores AWS Data scientist Developer Industrial Designer CMO $50 MM VC money Patients: care and control over your diabetes Payers B:C Subscription BOM for device: $12 $1 for strips Digital Osterwalder, Pigneur Patients Care Managers CNIOs CFO Endos GPs Diabetes Edu. Caregivers Payer-funded Data for sale Pharma Studies Social Outreach Mail order Direct Sales Customer Success Digital app Payers: reduce A1c and cost Endos: reduce A1c GPs: reduce A1c Care Managers: Enable communication ADA Food Apps Outsource BGM Software 1 year: 2.3 MM Cost to send: $3./ Google Novo Nordisk Dexcom License JV mmables Marketing Partnerships Spouses Kids School RNs Friends
- 11. B U SI N E S S M O D E L I N G : H O L D I N G O P T I O N S O N T H E F U T U R E Generate business model scenarios + test the best outcome
- 12. Business Model Growth Map TIME FIRM VALUE FOR:Your Co Future Now Options North Star The work by Jen van der Meer was inspired by the Business Model Generation Canvas by Alex Osterwalder (www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution Share Alike 4.0 International License.
- 13. Business Model Growth Map TIME FIRM VALUE FOR:Your Co Future Now Options North Star The work by Jen van der Meer was inspired by the Business Model Generation Canvas by Alex Osterwalder (www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution Share Alike 4.0 International License.
- 14. Profitable innovators change theirbusiness models twice as frequently as their peers1 1 IBM Business Model Innovation Survey 2013 2 BCG Most Innovative Companies Survey 2015 3 St. Gallen Business Model Navigator Survey. Gassman, Frankenberger, Karolin 2014 > 90% of all business model innovations recombine existing ideas and concepts from other industries2 Ice cream + waffle = ice cream cone = portable, and crunchy3 2x BUSINESS MODEL INNOVATORS
- 15. W H ATB U S I N E S S M O D E L ( S ) ? TOPOLOGY TOPOGRAPHYBusiness Model Topology* Business Model Topography Business Model Pattern Matching: What are the common business drivers across connected business models archetypes and companies? Business model pattern matching: deconstruct and reassemble the puzzle pieces across digital archetypes and companies
- 16. TIME FIRM VALUE Business Model Growth Map Thework by Jen van der Meer was inspired by the Business Model Generation Canvas by Alex Osterwalder (www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution Share Alike 4.0 International License. Rent VHS then DVDs by Mail (no late fees) Subscription DVDs by Mail Streaming Tiered Subscription Content Production Largest Global Media Company
- 17. TIME FIRM VALUE NYC 2 SidedFit Airbnb SXSW For Events + Everycity + Experiences Business Model Growth Map The work by Jen van der Meer was inspired by the Business Model Generation Canvas by Alex Osterwalder (www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution Share Alike 4.0 International License.
- 18. TIME FIRM VALUE Business Model Growth Map Thework by Jen van der Meer was inspired by the Business Model Generation Canvas by Alex Osterwalder (www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution Share Alike 4.0 International License. Pharma Partnerships 23andMe DNA kit B:C 23andMe Low price: marketing health info “Ancestry” FDA: shut down
- 19. WHERE IS THESTORY GOING? START HERE
- 20. Next: Starting Value Proposition InitialBusiness Model Hypothesis
- 21. T H EB U S I N E S S M O D E L C A N VA S H O W W I L L Y O U P O W E R Y O U R VA L U E P R O P O S I T I O N ? Customer Segments Customer Relationships Value Proposition Key ActivitiesPartners Key Resources Customer Channels RevenuesCosts V E R S I O N : Source: Strategyzer Osterwalder, Pigneur
- 22. T H EB U S I N E S S M O D E L C A N VA S H O W W I L L Y O U P O W E R Y O U R VA L U E P R O P O S I T I O N ? Customer Segments Customer Relationships Value Proposition Key ActivitiesPartners Key Resources Customer Channels RevenuesCosts V E R S I O N : Source: Strategyzer Osterwalder, Pigneur
- 23. T H EB U S I N E S S M O D E L C A N VA S H O W W I L L Y O U P O W E R Y O U R VA L U E P R O P O S I T I O N ? V E R S I O N : Customer Segments Customer Relationships Value Proposition Key ActivitiesPartners Key Resources Customer Channels RevenuesCosts Source: Strategyzer Osterwalder, Pigneur Whom do you help? What pains do you solve? What do you uniquely offer? Distinct segmentsWhere do we reach them? How do we get keep and grow? How will you charge? What will it cost? What do you need to have? How do you do it? Who will help you?
- 24. W H OM D O Y O U S TA R T W I T H ? Source: Strategyzer Osterwalder, Pigneur Customer Segments Customer Relationships Value Proposition Key Activities Partners Key Resources Customer Channels RevenuesCosts
- 25. H O WW I L L Y O U E X PA N D : W H O M E L S E W I L L Y O U S E R V E ? Source: Strategyzer Osterwalder, Pigneur Customer Segments Customer Relationships Value Proposition Key Activities Partners Key Resources Customer Channels RevenuesCosts WHO PAYS? WHO INFLUENCES? WHO DOESN’T PAY?
- 26. H O WW I L L Y O U C R E AT E VA L U E ? Source: Strategyzer Osterwalder, Pigneur Customer Segments Customer Relationships Value Proposition Key Activities Partners Key Resources Customer Channels RevenuesCosts
- 28. M A RK E T F O R C E S I N N O VAT I O N N O R WAY
- 30. cost of components costof hosting # of humans with smartphones possibilities enabled by blockchain
- 31. cost of components costof hosting # of humans with smartphones drones
- 32. cost of components costof hosting # of humans with smartphones 3-d printing
- 33. # of hospitals #of people > 70 people who want to talk to robots
- 34. # full timejobs # gig economy jobs interest in living in hammocks
- 35. # full timejobs # gig economy jobs people who are afraid of robots taking their jobs
- 37. T R AC T I O N I N N O VAT I O N N O R WAY
- 38. T R AC T I O N = Quantiative evidence of customer demand. -Naval Ravikant, AngelList.
- 39. T H EB U S I N E S S M O D E L C A N VA S A C C E L E R AT E G R O W T H : V E R S I O N : Customer Segments Customer Relationships Value Proposition Key ActivitiesPartners Key Resources Customer Channels RevenuesCosts
- 40. acquisition activation conversionupsell referral sticky engine viral engine referral engine TRACTION: WHAT IS YOUR EVIDENCE OF CUSTOMER DEMAND?
- 41. Which Channels? What’sthe action? Which customer types convert? Can you upsell? When does repurchase happen? Is there built in referral? # Per Channel # Leads % and # of Leads % upsell, repurchase % referrals, % conversions from referrals acquisition activation % convert upsell, repurchase refer CURRENT TRACTION EVIDENCE
- 42. G R OW T H M A P I N N O VAT I O N N O R WAY
- 44. Assume: we willget the money and customers and resources and people we need to build this business.
- 45. What happened? How didthe world change?
- 46. What happened? How didthe world change? Assume: we will get the money and customers and resources and people we need to build this business.
- 47. What is yourNorth Star Value Proposition?
- 48. Let’s Focus Backon Now Now Has anything changed?
- 49. Let’s Consider Options Whatother business model concepts could propel you to your North Star?
- 50. Next: Starting Value Proposition InitialBusiness Model Hypothesis North Star Value Prop 2 Value Prop 3 Value Prop 4 Value Prop 5 Value Prop 6
- 51. Take a Momentto Size Your Markets TIME FIRM VALUE Starting Value Proposition Initial Business Model Hypothesis North Star Value Prop 2 Value Prop 3 Value Prop 4 Value Prop 5 Value Prop 6
- 53. W O RL D C L A S S T E A M I N N O VAT I O N N O R WAY
- 54. S A ID I N V E S T O R S , E V E RY W H E R E . I invest in TEAM It’s all about the founders It’s motivation, baby
- 55. Y O U’ R E E N R O L L I N G A L L K I N D S O F B A C K E R S Is going to recommend your CTO co founder Knows an investor you should meet Wants to buy, now and feature on her 6 MM #insta Wants to feature you on Fast Co
- 56. W H OD O Y O U T H I N K Y O U A R E
- 57. H O WT O B E G I N Short strong stories about yourself that push us out of pattern matching analytical mode into narrative mode.
- 58. N A RR AT I V E I N N O VAT I O N N O R WAY
- 59. © 2017 Jenvan der Meer. All rights reserved unless otherwise indicated as CC STORYTELLING Which story are you telling? www.openculture.com/2014/02/kurt-vonnegut-masters-thesis-rejected-by-u-chicago.html
- 60. N A RR AT I V E
- 61. N A RR AT I V E A R C P I T C H E L E M E N T S • Growth story quickly understood • Clear value proposition • Well defined problem opened up by , new emergent forces • Novel combination of business model ideas • Traction (evidence of customer demand) • World class team {
- 62. P I TC H I N G F O R VA L U E F E M A L E E N T R E P R E N E U R O F T H E Y E A R J E N VA N D E R M E E R R E A S O N S T R E E T
- 63. T H AN K Y O U R E A S O N S T R E E T. C O J E N @ R E A S O N S T R E E T. C O
- 64. A P PE N D I X T E M P L AT E S I N N O VAT I O N N O R WAY
- 65. Which Channels? What’sthe action? Which customer types convert? Can you upsell?When does repurchase happen? Is there built in referral? # Per Channel # Leads % and # of Leads % upsell, repurchase % referrals, % conversions from referrals acquisition activation % convert upsell, repurchase refer C U S T O M E R G R O W T H C A N V A S
- 66. VALUE PROP ADLIB Myorganization is developing company name defined offering to help Why we’re better: to solve target customer segment defined problem or pain our differentiation Why we’re believable: our proof point, secret sauce The work by Jen van der Meer was inspired by the Madlibs for Pitching by Adeo Ressi (https://fi.co/madlibs) and is licensed under the Creative Commons Attribution Share Alike 4.0 International License For more info on how to use this Value Prop Adlib go to www.reasonstreet.co/value-proposition-adlib