A primer for founders on how to raise that first round of venture capital from Harvard Business School professor and Flybridge general partner Jeff Bussgang
How to Raise Your First Round of Capital - January 2020Jeffrey Bussgang
A step by step guide to raising your first round of capital -- from angels or venture capitalists (VCs) -- from a VC veteran and Harvard Business School (HBS) professor
Product Market Fit Presentation - May 2023 - Jeff BussgangJeffrey Bussgang
A systematic walk through of the journey to achieve product market fit by Jeff Bussgang, general partner at Flybridge Capital Partners and senior lecturer at Harvard Business School
Y Combinator Pitch Deck Template For Startup FoundersAA BB
🔮 Want more VC/investment startup pitch decks? We’ve centralised ALL succesful investor pitch decks at: https://chagency.co.uk/getstartupfunding — check all of them out
🔮 The effort is adhering to the ideology of “The Future Of Freemium” — read more here: https://chagency.co.uk/blog/ceo/the-future-of-freemium-how-to-get-peoples-attention/
🔮 Our library of pitch decks will not have any advertisement, only a signature. We are a design agency that helps SaaS CEOs reduce user churn.
A presentation on the search for product-market fit at the Harvard Business School Black Tech Masters Series by venture capitalist and entrepreneurship faculty professor Jeff Bussgang
This is the handout from a presentation that I made at a startups workshop in Jakarta, Indonesia. I was amazed at the lack of clarity that most of the participants had in their "pitches" and the lack of understanding of the need to tailor your pitch to the audience, as well as your own objectives.
Of course, the actual presentation was less wordy, and adhered to Guy Kawasaki's 30/20/10 rule as well as the 7 x7 mode of slide presentation
How To Create The Perfect Start-Up Pitch Deck The right Way for Entrepreneurs || From a VC perspective
Founders who deeply follow those recommendations will have better chance to build a defining pitch deck for VCs.
If you think you have a good pitch, send it through my way at eharfouche@polytechventures.ch
WebSummit 2018 - 9 Secrets for Startup SuccessDavid Skok
Lean Startup taught the world how to find product/market fit, but in the B2B world that isn’t enough. B2B founders must then find a way to build repeatable, scalable and profitable growth before they are ready to step on the accelerator and grow at high speed. In this talk, five-time serial entrepreneur and author of the ForEntrepreneurs blog, David Skok, breaks this journey down into 9 distinct stages and explains the playbook at each stage. Warning: trying to force growth by skipping a step is the number one mistake entrepreneurs make, and it is often fatal.
How to Raise Your First Round of Capital - January 2020Jeffrey Bussgang
A step by step guide to raising your first round of capital -- from angels or venture capitalists (VCs) -- from a VC veteran and Harvard Business School (HBS) professor
Product Market Fit Presentation - May 2023 - Jeff BussgangJeffrey Bussgang
A systematic walk through of the journey to achieve product market fit by Jeff Bussgang, general partner at Flybridge Capital Partners and senior lecturer at Harvard Business School
Y Combinator Pitch Deck Template For Startup FoundersAA BB
🔮 Want more VC/investment startup pitch decks? We’ve centralised ALL succesful investor pitch decks at: https://chagency.co.uk/getstartupfunding — check all of them out
🔮 The effort is adhering to the ideology of “The Future Of Freemium” — read more here: https://chagency.co.uk/blog/ceo/the-future-of-freemium-how-to-get-peoples-attention/
🔮 Our library of pitch decks will not have any advertisement, only a signature. We are a design agency that helps SaaS CEOs reduce user churn.
A presentation on the search for product-market fit at the Harvard Business School Black Tech Masters Series by venture capitalist and entrepreneurship faculty professor Jeff Bussgang
This is the handout from a presentation that I made at a startups workshop in Jakarta, Indonesia. I was amazed at the lack of clarity that most of the participants had in their "pitches" and the lack of understanding of the need to tailor your pitch to the audience, as well as your own objectives.
Of course, the actual presentation was less wordy, and adhered to Guy Kawasaki's 30/20/10 rule as well as the 7 x7 mode of slide presentation
How To Create The Perfect Start-Up Pitch Deck The right Way for Entrepreneurs || From a VC perspective
Founders who deeply follow those recommendations will have better chance to build a defining pitch deck for VCs.
If you think you have a good pitch, send it through my way at eharfouche@polytechventures.ch
WebSummit 2018 - 9 Secrets for Startup SuccessDavid Skok
Lean Startup taught the world how to find product/market fit, but in the B2B world that isn’t enough. B2B founders must then find a way to build repeatable, scalable and profitable growth before they are ready to step on the accelerator and grow at high speed. In this talk, five-time serial entrepreneur and author of the ForEntrepreneurs blog, David Skok, breaks this journey down into 9 distinct stages and explains the playbook at each stage. Warning: trying to force growth by skipping a step is the number one mistake entrepreneurs make, and it is often fatal.
Things That Don't Matter in Your Presentation!Ayman Sadiq
We often spend hours together on stuffs that don’t really matter in your next presentation. You need to unclutter, focus, provide insight and yes, tell a story to convey the big idea. When you stop wasting time on the things that don’t really add any value to you presentation, we finally start adding proper value to the message and objective of your presentation. So here goes a list of things on which you should not even spend a minute. Cheers!
How Startups Can Build a Recruiting MachineDavid Skok
Something important has changed in the recruiting process: the best people are almost never on the market, and you have to develop recruiting processes to find and sell passive candidates. In many cases, it will take months or years of relationship building with these candidates to find the right moment when they are open to considering a change. Closing them takes greater selling efforts than in the past due to the intense competition over the good candidates. This leads me to believe that there is now a third crucial startup skill that needs to be developed: recruiting.
The Great State of Design with CSS Grid Layout and FriendsStacy Kvernmo
For far too long we've been forced to reuse layout patterns that have worked in the past, creating a web full of sites that all look the same. Narrow timelines, browser support restrictions and lack of a true grid system have led us to create work that is "good enough".
I've spent years exploring how we can make the web a more unique space. With some of the newer CSS techniques available, we can start to make more creative designs. CSS Grid Layout is on the horizon and will play a major role in the design of our sites. Finally having a true, 2 dimensional grid will give our layouts much more flexibility and it is on us to explore the possibilities.
This talk was presented at CSS Day 2016.
Innovate Calgary's Presentation on Perfecting the Investor Pitch at Startup W...Boast Capital
This is a presentation by Alex Raczenko, EIR at Innovate Calgary in Alberta at Startup Weekend on July 12, 2013. Alex discusses the 12 key questions every entrepreneur needs to answer before raising outside capital. Following this presentation you will be able to perfect your investor pitch.
How to make an investor pitch deck that really worksDeck Rooster
In sales, a well established principle is, before one starts pitching to a customer, one should listen to what the customer has to say. That is because if you listen carefully he will lay out his needs in front of you, letting you present your solution in a way that fits into his needs perfectly.
The principle should be equally useful while pitching to an investor while raising funds. I can’t see a reason why it won’t be. But no one seems to be suggesting “you should listen more and talk less during an investor pitch”. Probably it is assumed that we already know what investors look for in a business. Is it a rockstar team; or may be a huge market size or is it traction or a break-through technology? Or may be different investors look for different combination of those things.
Actually all of those are means towards an end. They help investors figure out something more specific and quantitative that all investors look for in a startup before investing. But what is it?
A 10x return on their investment. That is it.
That number may vary from an early stage investor to a growth stage one, but you get the point, right? Not everyone says it out loud, because it makes them look money hungry, but that is what an investor business is all about.
But, now with that knowledge, how do you tweak your pitch and your pitch deck to make an investor feel that you are offering him an investment opportunity that could deliver a 10x return? And more importantly, can your business even deliver 10x return?
The above presentation by Deck Rooster answers those questions and offers a structure (not a template) for an investor pitch deck for startups. Check it out.
The Ultimate Investor Pitch Deck TemplateCrowdfunder
Great startups don’t fund themselves. Raising money from investors requires a great pitch, even for experienced founders with significant traction in their startup.
There’s a formula for pitching your startup that has helped startup founders raise millions.
In short, this formula involves crafting a larger story / narrative, while speaking directly to what investors are looking for and need to know about you, your company, your market, and your plan.
Y Combinator pitch deck designed by Zlides
Want to create a pitch deck that inspires your audience? Get your FREE presentation kit designed by Zlides: http://bit.ly/slideshare_zlides
David Skok on The SaaS Founder's Journey || SAAS NORTH 2017L-SPARK
http://www.l-spark.com -- Watch the video of David Skok's keynote over on our blog.
David Skok joined Matrix Partners as a General Partner in May 2001. He has a wealth of experience running companies. David started his first company in 1977 at age 22. Since then David has founded a total of four separate companies and performed one turn-around. Three of these companies went public.
David joined Matrix from SilverStream Software, which he founded in June 1996. Prior to its July 2002 acquisition by Novell, SilverStream was a public company that had reached a revenue run rate in excess of $100M, with approximately 800 employees and offices in more than 20 countries around the world.
David’s work as a value added investor is best known for helping HubSpot, JBoss, AppIQ, Tabblo, Netezza, Diligent Technologies, CloudSwitch, TribeHR, GrabCAD, OpenSpan and Enservio to successful exits. David currently serves on the boards of Atomist, CloudBees, Conductor, Digium (makers of the very popular Asterisk Open Source PBX/telephony software), Meteor, NamelyHR, Salsify, Storiant, VideoIQ and Zaius.
In addition to his broad focus on enterprise software, David is specifically focused on the areas of SaaS (software as a service), cloud, mobility, Open Source, marketing automation, virtualization, storage, and data center automation.
David writes a blog for entrepreneurs and startups on topics such as viral marketing, SaaS metrics, building a sales and marketing machine, techniques for lowering cost of customer acquisition, etc. The blog can be found here: www.forEntrepreneurs.com.
Validate Your Ideas Quickly with Google Design SprintBorrys Hasian
This was presented at Compfest, an annual one-stop IT event held by students of Faculty of Computer Science, University of Indonesia. The deck is about Design Thinking and Google Design Sprint.
How to Create a Pitch Deck to Impress Investors?SlideTeam
Getting investors is the most difficult task for a startup. This presentation explains how to create a pitch deck or business plan to attract investors or venture capitalists
Jerry Chen, partner at Greylock and former VP of Cloud and Application Services at VMware, shares his Unit of Value framework for startups building a go-to-market strategy. He developed this strategy while managing product and marketing teams at VMware that shipped many “1.0” releases, including VMware VDI, Cloud Foundry, and vFabric, and continues to use the framework to evaluate companies as an investor.
Customizable pitch deck templates which include two different versions, both built by leading seed investors at NextView Ventures. Entrepreneurs can use them to save time while building a pitch deck to raise seed capital.
Tips and techniques for raising your first round of financing from entrepreneur turned VC Jeff Bussgang of Flybridge Capital and Harvard Business School.
Things That Don't Matter in Your Presentation!Ayman Sadiq
We often spend hours together on stuffs that don’t really matter in your next presentation. You need to unclutter, focus, provide insight and yes, tell a story to convey the big idea. When you stop wasting time on the things that don’t really add any value to you presentation, we finally start adding proper value to the message and objective of your presentation. So here goes a list of things on which you should not even spend a minute. Cheers!
How Startups Can Build a Recruiting MachineDavid Skok
Something important has changed in the recruiting process: the best people are almost never on the market, and you have to develop recruiting processes to find and sell passive candidates. In many cases, it will take months or years of relationship building with these candidates to find the right moment when they are open to considering a change. Closing them takes greater selling efforts than in the past due to the intense competition over the good candidates. This leads me to believe that there is now a third crucial startup skill that needs to be developed: recruiting.
The Great State of Design with CSS Grid Layout and FriendsStacy Kvernmo
For far too long we've been forced to reuse layout patterns that have worked in the past, creating a web full of sites that all look the same. Narrow timelines, browser support restrictions and lack of a true grid system have led us to create work that is "good enough".
I've spent years exploring how we can make the web a more unique space. With some of the newer CSS techniques available, we can start to make more creative designs. CSS Grid Layout is on the horizon and will play a major role in the design of our sites. Finally having a true, 2 dimensional grid will give our layouts much more flexibility and it is on us to explore the possibilities.
This talk was presented at CSS Day 2016.
Innovate Calgary's Presentation on Perfecting the Investor Pitch at Startup W...Boast Capital
This is a presentation by Alex Raczenko, EIR at Innovate Calgary in Alberta at Startup Weekend on July 12, 2013. Alex discusses the 12 key questions every entrepreneur needs to answer before raising outside capital. Following this presentation you will be able to perfect your investor pitch.
How to make an investor pitch deck that really worksDeck Rooster
In sales, a well established principle is, before one starts pitching to a customer, one should listen to what the customer has to say. That is because if you listen carefully he will lay out his needs in front of you, letting you present your solution in a way that fits into his needs perfectly.
The principle should be equally useful while pitching to an investor while raising funds. I can’t see a reason why it won’t be. But no one seems to be suggesting “you should listen more and talk less during an investor pitch”. Probably it is assumed that we already know what investors look for in a business. Is it a rockstar team; or may be a huge market size or is it traction or a break-through technology? Or may be different investors look for different combination of those things.
Actually all of those are means towards an end. They help investors figure out something more specific and quantitative that all investors look for in a startup before investing. But what is it?
A 10x return on their investment. That is it.
That number may vary from an early stage investor to a growth stage one, but you get the point, right? Not everyone says it out loud, because it makes them look money hungry, but that is what an investor business is all about.
But, now with that knowledge, how do you tweak your pitch and your pitch deck to make an investor feel that you are offering him an investment opportunity that could deliver a 10x return? And more importantly, can your business even deliver 10x return?
The above presentation by Deck Rooster answers those questions and offers a structure (not a template) for an investor pitch deck for startups. Check it out.
The Ultimate Investor Pitch Deck TemplateCrowdfunder
Great startups don’t fund themselves. Raising money from investors requires a great pitch, even for experienced founders with significant traction in their startup.
There’s a formula for pitching your startup that has helped startup founders raise millions.
In short, this formula involves crafting a larger story / narrative, while speaking directly to what investors are looking for and need to know about you, your company, your market, and your plan.
Y Combinator pitch deck designed by Zlides
Want to create a pitch deck that inspires your audience? Get your FREE presentation kit designed by Zlides: http://bit.ly/slideshare_zlides
David Skok on The SaaS Founder's Journey || SAAS NORTH 2017L-SPARK
http://www.l-spark.com -- Watch the video of David Skok's keynote over on our blog.
David Skok joined Matrix Partners as a General Partner in May 2001. He has a wealth of experience running companies. David started his first company in 1977 at age 22. Since then David has founded a total of four separate companies and performed one turn-around. Three of these companies went public.
David joined Matrix from SilverStream Software, which he founded in June 1996. Prior to its July 2002 acquisition by Novell, SilverStream was a public company that had reached a revenue run rate in excess of $100M, with approximately 800 employees and offices in more than 20 countries around the world.
David’s work as a value added investor is best known for helping HubSpot, JBoss, AppIQ, Tabblo, Netezza, Diligent Technologies, CloudSwitch, TribeHR, GrabCAD, OpenSpan and Enservio to successful exits. David currently serves on the boards of Atomist, CloudBees, Conductor, Digium (makers of the very popular Asterisk Open Source PBX/telephony software), Meteor, NamelyHR, Salsify, Storiant, VideoIQ and Zaius.
In addition to his broad focus on enterprise software, David is specifically focused on the areas of SaaS (software as a service), cloud, mobility, Open Source, marketing automation, virtualization, storage, and data center automation.
David writes a blog for entrepreneurs and startups on topics such as viral marketing, SaaS metrics, building a sales and marketing machine, techniques for lowering cost of customer acquisition, etc. The blog can be found here: www.forEntrepreneurs.com.
Validate Your Ideas Quickly with Google Design SprintBorrys Hasian
This was presented at Compfest, an annual one-stop IT event held by students of Faculty of Computer Science, University of Indonesia. The deck is about Design Thinking and Google Design Sprint.
How to Create a Pitch Deck to Impress Investors?SlideTeam
Getting investors is the most difficult task for a startup. This presentation explains how to create a pitch deck or business plan to attract investors or venture capitalists
Jerry Chen, partner at Greylock and former VP of Cloud and Application Services at VMware, shares his Unit of Value framework for startups building a go-to-market strategy. He developed this strategy while managing product and marketing teams at VMware that shipped many “1.0” releases, including VMware VDI, Cloud Foundry, and vFabric, and continues to use the framework to evaluate companies as an investor.
Customizable pitch deck templates which include two different versions, both built by leading seed investors at NextView Ventures. Entrepreneurs can use them to save time while building a pitch deck to raise seed capital.
Tips and techniques for raising your first round of financing from entrepreneur turned VC Jeff Bussgang of Flybridge Capital and Harvard Business School.
Inside The Mind Of The Venture Capitalist: An Introduction to Venture CapitalJ. Skyler Fernandes
The was the first is a series of presentations by Inside the Mind of The Venture Capitalist, presenting the basic foundations of Venture Capital and what Venture Capitalists look for in companies.
Venture Capital 101 - I'm a VC, Who Are You? Paula Marttila
"Venture Capital 101 - I'm a VC, Who Are You?" walks you through the essentials of venture capital, early stage funding alternatives, and the difference between good and bad VC to an audience new to fundraising. I first gave this talk to Interactive Communication students at Berghs School of Communications in Stockholm, Sweden, March 2013.
March 2016: Updated version to reflect the changes and trends in venture capital markets incl. additional pitch advice, recommended reading, and founder resources.
a presentation I made at Jacksonville State University's "The Alabama Conference for Inventors"... some content blatantly lifted from other great presentations
David Weekly's Angel Investment Deck. Meant as an introduction to investing in US-based companies as an accredited investor. Covers Angel List, syndicates, syndicate funds, venture capital, common risks and pitfalls.
NOTE: Does not constitute legal or financial advice and is not a solicitation for investment.
Raising your first $1mm to $5mm a view from both sides of the tableStartupWeekDallas
Presentation at Dallas Startup Week from Lee Blaylock, Founder and CEO, Who@
Lee Blaylock, a former Oracle exec and current serial entrepreneur and investor, offered up a multitude of advice for founders on Tuesday at Dallas Startup Week.
First, the Who@ founder started with his definition of entrepreneurship.
dallasstartupweek“It’s the undertaking of a business enterprise with a complete, total, utter lack of respect of the resources you currently control,” Blaylock said.
Blaylock listed a bevy of investing lingo that every entrepreneur should understand when trying to raise that first $1 million to $5 million. Among them:
- Fiduciary
- Traction
- Term Sheet
- Debt
- Equity
- Warrants
- Option Pool / Vesting / Cliff
- Capitalization Table
- Accredited Investor
- Due Diligence
- LTV / CaC
- Burn Rate
- Fume Date
- Making money and good investments concept
He then offered a “6 Things Before You Pitch” guide.
Capital raising tips and tricks - Based on some of the main questions we get on raising capital, here are some tips and tricks to successfully do so. Here at Wilson, we get many questions on how to best raise capital, how to reach out to family offices, how to raise money for businesses, funds, investments, etc., and which strategies, tips, and tactics we would recommend be implemented to have successful capital raising.
What is a family office? What are family offices doing today? How should we reach out to family offices? How should we reach out to investors in general? What's the best way to position ourselves?
A brief review of the Boston startup ecosystem from the perspective of Jeff Bussgang of Flybridge and HBS, a former entrepreneur turned VC / Harvard faculty member.
The Community Playbook for Founders (from Flybridge)Jeffrey Bussgang
Now more than ever, community can be a competitive advantage for savvy founders. This presentation deconstructs how to get the most out of your community.
How to achieve product-market fit by running the experiments that matter most and building the right organization to run those experiments effectively.
A presentation reviewing the series of techniques and experiments that founders / entrepreneurs can pursue in the quest for acheiving product-market fit.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
VAT Registration Outlined In UAE: Benefits and Requirements
Venture Capital Financing Basics
1. Basics of Financing
HBS Startup Bootcamp
Jeff Bussgang
General Partner and Co-Founder, Flybridge Capital
Senior Lecturer, Harvard Business School
@bussgang
JANUARY 2021
2. Context For My Perspective
Professor @HBS:
- Launching Tech Ventures
- Rock Venture Partners
Venture
Capitalist
@Flybridge
2x Author:
- Mastering the VC Game
- Entering StartUpLand
2x Entrepreneur:
- NASDAQ: OMKT
- Upromise (acq: SLM)
Confidential Presentation
2
3. Confidential Presentation
Fundraising Patterns and Players
Confidential Presentation
$250-$500k pre-seed
- Convertible note/SAFE at $5-$7m post cap
- If your friends, family and ex-colleagues
won’t back you — why should I?
3
4. Confidential Presentation
Fundraising Patterns and Players
Confidential Presentation
$250-$500k pre-seed
- Convertible note/SAFE at $5-$7m post cap
- If your friends, family and ex-colleagues
won’t back you — why should I?
$1-$3m seed at $8-$15m post
- Either note, SAFE/SAFT or priced round
- Micro-seed funds, seed funds, super angels
4
5. Confidential Presentation
Fundraising Patterns and Players
Confidential Presentation
$250-$500k pre-seed
- Convertible note/SAFE at $5-$7m post cap
- If your friends, family and ex-colleagues
won’t back you — why should I?
$1-$3m seed at $8-$15m post
- Either note, SAFE/SAFT or priced round
- Micro-seed funds, seed funds, super angels
$5-$10m Series A at $20-$50m post
- Priced round, board, control structure
- Seed, Series A, Series B funds
5
6. Confidential Presentation
Fundraising Patterns and Players
Confidential Presentation
$250-$500k pre-seed
- Convertible note/SAFE at $5-$7m post cap
- If your friends, family and ex-colleagues
won’t back you — why should I?
$1-$3m seed at $8-$15m post
- Either note, SAFE/SAFT or priced round
- Micro-seed funds, seed funds, super angels
$5-$10m Series A at $20-$50m post
- Priced round, board, control structure
- Seed, Series A, Series B funds
$20-$40m Series B at $80-$200m post
- Priced round, board, control structure,
seniority?
- Series B funds, growth funds, crossover PE
6
7. Confidential Presentation
Expectations and Milestones
7
Have well-documented milestones
that represent what you expect to
achieve during the initial funding
period
- Team building
- Technical progress/product
development
- Customers, revenue
- Budget
Talk to the investor about
the next round before you
close this round
- Expectations, amount, price
What experiments are you
going to run and what
results do you expect
from those experiments?
Informs how much you
raise: get to a valuation
inflection point
8. Confidential Presentation
Investor Decision
Making
8
Confidential Presentation
- Most VCs and Angels have ADD — operate on
“BLINK” instincts
• Want to SEE everything, but actually INVEST in very, very
few deals
• Make their decision within the first 10-15 minutes
- Typical VCs and Angels will invest in one out of
every 300-500 deals they see
• Long odds — you need to really stand out
• Like college applicants — triage quickly
Blink: The Power of Thinking Without Thinking, by Malcolm Gladwell
9. Confidential Presentation 9
Unconscious Bias
- Behavioral psychology research shows that our
brains are “prediction machines”, which helps with
pattern recognition but frequently leads to bias
• E.g., HBS study that male and female entrepreneurs get
asked different questions by VCs
• E.g., “Harvard dropout in a hoodie” founder
- As an entrepreneur, you want to be aware of these
biases to avoid some and exploit others
10. Confidential Presentation
VCs vs. Angels
10
Can be total disasters
Will want some control (voting,
board, veto)
Will want to own 10-20%
Very actively engaged (they get
paid to do this), leveraging the power
of the firm’s network
Can add tremendous value and be
great business partners
Typically, rational actors, commercially-driven,
but if inexperienced can do great harm
VCs
11. Confidential Presentation
VCs vs. Angels
11
Can be total disasters
Will want some control (voting,
board, veto)
Will want to own 10-20%
Very actively engaged (they get
paid to do this), leveraging the power
of the firm’s network
Can add tremendous value and be
great business partners
Typically, rational actors, commercially-driven,
but if inexperienced can do great harm
Can be total disasters
Will want no control (“send me
an annual email”)
Will want to own 1-10%
Maybe engaged or not (often a
hobby, sometimes a personal mission)
Can add tremendous value and be
great business partners
Typically, rational, but if unsophisticated:
naïve, irrational, emotional
VCs Angels
12. Confidential Presentation
VC Is Not the Only Option
12
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VC Decreases Runway
VC is raised to fund higher burn rates. An increased burn
rate is a great investment when used to fuel a working
model. More often, burn is used to search for a model that
works, and the company quickly learns that capital has no
insights. When startups cannot sustain the burn, and
cannot manufacture enough VC enthusiasm to keep the
dream alive, crash landings ensue.
1
Venture Capital increases risk for founders in two ways
VC Limits Exit Options
Probabilistically, the most likely exit for a startup is an
acquisition for less than $50 million. This outcome has little
benefit to VCs, and they will happily trade it for an
improbably shot at a bigger outcome. Billions of dollars have
been outright wasted by founders selling future value that
didn’t materialize, while surrendering present value that
could have been navigated to great success.
2
13. Confidential Presentation
A Game of Outliers (“Power Law”)
13
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0
10
20
30
40
50
60
70
0-1X 1-5X 5-10X 10-20X 20-50X 50X+
Right-Skewed Distribution of U.S. Venture Returns
By % of financings in companies going out-of-business, acquired, or IPO 2004-2013
n=21,640 financings
%
of
Financings
Gross Realized Multiple Range
Ridiculously large returns (> 10x) are very, very rare
(4%) — but are always the goal
In statistics, the power law is a functional relationship between two quantities where one quantity varies as a power of another.
Source: Includes data from Dow Jones VentureSource and other sources
14. Confidential Presentation
VC Fund Math 101
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Prototypical, $100M Early Stage Fund
($ in mm) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Fund End
AVG Deployment Pace 19.4% 20.1% 15.7% 16.4% 9.8% 7.0% 3.2% 2.2% 2.7% 1.0% 1.3% 1.3% 100.0%
AVG Proceeds from Exits 0.0% 0.1% 0.9% 1.5% 2.2% 4.3% 6.8% 8.5% 13.1% 18.9% 21.8% 21.8% 100.%
Capital Called $19.4 $20.1 $15.7 $16.4 $9.8 $7.0 $3.2 $2.2 $2.7 $1.0 $1.3 $1.3 $100.0
Gross Proceeds $0.0 $0.6 $.3.3 $5.7 $8.5 $16.6 $26.1 $32.6 $50.0 $72.2 $83.4 $83.4 $382.5
Management Fees $2.0 $2.0 $2.0 $2.0 $2.0 $2.0 $2.0 $2.0 $2.0 $2.0 $0.0 $0.0 $20.0
Carry $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $13.1 $13.1 $13.1 $13.1 $52.5
Net Proceeds for Distribution ($21.4) ($21.5) ($14.4) ($12.7) ($3.3) $7.6 $20.9 $28.5 $32.3 $56.1 $69 $69 $310.0
Net IRR (10.%) (8.7%) (3.8%) 2.2% 9.9% 25.6% 51.1% 82.5% 116.4% 173.8% 242.8% 310.0% 310.0%
Gross Return Multiple
Net Return Multiple
Net IRR
3.8x
3.1x
20%
To achieve target of 3x the fund, need to
see multiple big exits (>10x) in years 9-12
Source: Industry Ventures
15. Confidential Presentation
When Do You Talk to Investors?
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- Never too early to build a relationship (and get advice) — especially
when you’re not asking for money.
- That said, there is no such thing as a casual meeting — every meeting
with an investor is a pitch/presentation.
- Leave them with your next milestones…and achieve them!
- Only when you’ve established a relationship and operational
credibility should you ask for money.
“Ask for money, get advice.
Ask for advice, get money
twice.”
- Pitbull, Musician
16. Confidential Presentation 16
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Find the
Sweet Spot
Don’t downplay risk
Mutual due diligence is fair play
Arrange for a warm introduction
Scope out the firm size matters, as does the
— individual
16
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Prepare, be brief (VCs “BLINK)
17. Confidential Presentation
Kiss Many Frogs
17
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58
Investors
Contacted
40
Investor
Meetings
$1.3 M
Capital
Raised
12.5
Weeks
to Close
Stats From an Average Series Seed Raise
Source: Docsend
18. Confidential Presentation
VC Introduction Algorithm
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Entrepreneurs who have made them money
1
2
3
4
5
6
Entrepreneurs in their portfolio
Entrepreneurs they respect
Customers/Partners they respect
Service providers they respect
Existing investors
- Cold emails/social networks
- Investors who are not investing
19. Confidential Presentation
Investor’s Decision Tree
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Worth 3 minutes (email, phone)?
Yes
No
Ignore/decline to engage
Worth 30 minutes (phone, in person)?
Yes
No
Pass gracefully
Worth 60-90 minutes (in person)?
Yes
No
Pass but stay in touch
Worth follow-up meeting (in person)?
Yes
No
Pass but be helpful
Serious Due Diligence
20. Confidential Presentation
Elements of the Pitch
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1 2 3
Intro
- Who are you?
- Why are you here?
- Why are you special?
Problem
- What is the customer pain?
Solution
- What’s your disruptive, breakthrough
compelling solution?
- Is the “Gain vs. Pain” ratio 10x?
4 5 6
Opportunity
/Market Size
- Top down and bottoms up
Competitive
Advantage
- What is your unique differentiation?
- What’s your “competitive moat”?
Go-to-Market Plan
- How are you going to reach
the customer?
7 8 9
Business Model
- How are you going to make money?
Financials
- What’s the bottom line, what are your key
assumptions?
- How are you going to make ME money?
The Ask
- How much do you want, how long will it
last you and how much will you achieve?
21. Confidential Presentation
Top 3 Things to Do
21
Set Context Be Crisp and On Point Know Your Stuff
- Tell your narrative to prove
founder-market fit – i.e., why
you?
- Tell industry context to prove
why now?
- Personal intro < 5 minutes
- Team intro < 5 minutes
- Make it relevant — don’t go off
on tangents
- If you can’t show good
summarization skills, how will
you handle a board room?
- Know competition, show
domain expertise
- They will push you to test
you
- John Doerr/Upromise case
study
22. Confidential Presentation
Top 3 Things to Avoid
22
Do Not Exaggerate There’s No “I” in Team Do Not Name Drop
- Assume everything you say
will be verified in due
diligence
- Assume the listener is a
cynic and a professional BS
detector
- If you are self-aggrandizing,
investors will assume you can’t
build teams, attract great
talent
- No one is going to be
impressed with who you
know unless the
relationships are both real
and relevant
- Assume everyone does
their due diligence
23. Confidential Presentation
Typical Investment Criteria
- Tangible things investors like to see:
• Very big market (> $500M? $1B? —
support $100+M revenue)
• Unfair advantage (why you? why now?)
• Attractive business model
(recurring, high margins,
network effects)
• Unique technology or business
model approach
23
- Intangible things investors like to see:
• “Pied Piper” — an ability to recruit and
retain a great team, partners
• Interpersonal chemistry
• Movie, not a snapshot
• X-Factor/Super power
24. Confidential Presentation
So You’ve Had a Good
Meeting…
Then What?
24
- Treat fundraising like a sales process — build a pipeline, work
people through the pipeline, build up to crescendo
- VCs get distracted — typically only pursue 2-3 high priority
new investment opportunities at any given time
- Stay connected, top of mind, build a sense of momentum
- Need to sell the individual “champion”, then the help them
sell the partnership
- Address objections with specific data
• Make the investment case for them
• Give them tools/materials to share with their partners
• Create a sense of urgency (run a competitive process)
25. Confidential Presentation
Then, Expect More Due
Diligence
25
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As you would do in a sales process,
package up the information, make it
easy on the VC — provide reference
list, financial models, detailed
market size analysis — all in
readable, compelling, digestible form
Customers
/Partners
Team
Business Model Market
Size/Analysts
26. Confidential Presentation
Partners Meeting
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Ask your champion where they’re
at (Strong positive? Slight
positive? Still questioning?)
1
Ask your champion for the
main objections in advance
2
Customize your pitch
to address them
3
Command the room
4
Be open about risks — and
your plan to mitigate
5
27. Confidential Presentation 27
The Vote
Partner A Partner B Partner C Partner D Average
Market 4 4 4 4 4.0
Team 4 4 3 5 4.0
Product/Tech 2 4 4 2 3.0
Business Model 5 5 3 3 4.0
Competition 4 3 3 4 3.5
Deal/Cap Markets 4 4 3 3 3.5
Disruption 4 4 4 4 4.0
Network Effects 2 3 4 4 3.3
Total 29 31 28 29 29.3
Two most important criteria Who’s your champion? Know what they think beforehand
28. Confidential Presentation
Term Sheet Time -
FAQs
28
1. Should I include VCs in my seed round or just
angels?
2. Should I do a convertible note/SAFE with a cap,
no cap or a priced round?
3. How big should the option pool be?
• How much do I set aside for team, advisors,
board?
4. How should I think about valuation?
• “Promote” definition
5. How should I think about control?