Innovate Calgary's Presentation on Perfecting the Investor Pitch at Startup Weekend Calgary on July 12, 2013
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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.
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Innovate Calgary's Presentation on Perfecting the Investor Pitch at Startup Weekend Calgary on July 12, 2013
- 1. INNOVATOR’S TOOLKIT Perfecting The Investor Pitch Alex Raczenko Entrepreneur in Residence
- 2. How can you tell an Entrepreneur is Pitching?
- 3. Their lips are moving!
- 4. Pitching is KEY to Entrepreneurial success
- 5. Do it well... People Invest in YOU
- 6. Do it poorly... They will cross the street to avoid you
- 7. What’s it about? v A Good Pitch IS NOT about.... § What you want to say
- 8. What’s it about? v A Good Pitch is ALL about.... § What your audience NEEDS to hear § Delivered in THEIR language
- 9. What’s it about? v A Good Pitch is ALL about.... § To moJvate them to agree to your ASK
- 10. What’s it about? v A Good Angel INVESTOR Pitch IS NOT about Selling.... § Your TECHNOLOGY
- 11. What’s it about? v A Good Angel INVESTOR Pitch IS NOT about Selling.... § Your PRODUCT
- 12. What’s it about? v A Good Angel INVESTOR Pitch is ALL about Selling.... § The COMPANY you will build around the technology / Product
- 13. What’s it about? v A Good Angel INVESTOR Pitch is ALL about Selling.... § Your PLAN to turn their $1MM investment into a $10 -‐ $20 MM Return On Investment in 5 years
- 14. More than a story.... v From a company perspecJve: § Build a manageable and acJonable • Preliminary Business Plan • Investor pitch
- 15. More than a story.... v From a company perspecJve: § Build a manageable and acJonable • Preliminary Business Plan • Investor pitch § Develop strong foundaJon for related pitches • Customer, Partner, Supplier... Etc.
- 16. More than a story.... v From a company perspecJve: § Build a manageable and acJonable • Preliminary Business Plan • Investor pitch § Develop strong foundaJon for related pitches • Customer, Partner, Supplier... Etc. § Align and balance Market, Business and Technology Teams • Market Leads • Business and Tech follow
- 17. More than a story.... v From a personal perspecJve... § Develop Confidence • Find your voice...
- 18. More than a story.... v From a personal perspecJve... § Develop Confidence • Find your voice... § Develop CLARITY and VISION • Know WHERE you are going and WHY
- 19. More than a story.... v From a personal perspecJve... § Develop Confidence • Find your voice... § Develop CLARITY and VISION • Know WHERE you are going and WHY § Learn to LEAD • Align your Team
- 20. More than a story.... v From a personal perspecJve... § Develop Confidence • Find your voice... § Develop CLARITY and VISION • Know WHERE you are going and WHY § Learn to LEAD • Align your Team § Find your inner CEO... § Build your Roadmap to SUCCE$$....
- 21. More than a story.... GET FUNDED!
- 22. A GREAT place to Pitch in Alberta...
- 23. A GREAT place to Pitch in Alberta... § Lead By Henry Kutarna § 200+ Members § Personally screened and looking for good deals § Over $30MM Raised in past 3 years
- 24. Not Easy... Over 200 deals screened annually
- 25. Only the BEST survive Over 200 deals screened annually Only 8-‐12 Deals get to Pitch...
- 26. Who do you pitch to... If you want their Investment.. Your pitch MUST answer...
- 27. The 12 KEY QuesMons 1. Why should I pay a_enJon? The IntroducJon 2. Do you know your customer and their pain? The Problem 3. Do you take the pain away? The SoluJon 4. Do you know your Target Market? The Market 5. Who else is doing this and why pick you? The CompeJJve Difference 6. Is product ready and does it create Barriers? The Technology 7. Can you find and get customers? The Approach to Market 8. How does money flow from customer to you? The Revenue Model 9. How much money will we make? The Forecast 10. Do you have a plan for my money? The Milestones 11. Can you execute? The Team 12. How much $ do you need and what's my ROI? The ASK/Exit
- 28. Business Model Canvas Alignment 1. The IntroducJon 2. The Problem 3. The SoluJon 4. The Market 5. The CompeJJve Difference 6. The Technology 7. The Approach to Market 8. The Revenue Model 9. The Forecast 10. The Milestones 11. The Team 12. The Ask /Exit
- 29. Business Model Canvas Alignment 1. The IntroducJon 2. The Problem Value ProposiJon 3. The SoluJon Value ProposiJon 4. The Market Customer Segments 5. The CompeJJve Difference Customer RelaJonships 6. The Technology Key Partnerships 7. The Approach to Market Channels 8. The Revenue Model Revenue Streams 9. The Forecast Cost Structure 10. The Milestones Key AcJviJes 11. The Team Key Resources 12. The Ask /Exit Key AcJviJes
- 30. 1. The IntroducMon v High level summary of answers to the 12 quesJons § Basis for your Elevator Pitch v Targeted to Investor audience § WHAT”S IN IT FOR THEM v Capture their FULL a_enJon FAST..... § OPEN WITH YOUR ACES......
- 31. 2. The Problem v Understand your Customer PAIN § Describe “A Day In The Life” BEFORE your Product § For ALL customer stakeholders § Across the enJre Target Value Chain § QuanJfy the Pain for each stakeholder, for Target Value Chain and for Market § Show your target customers are SCREAMING for Your soluJon v Show you know the buying moJvaJon
- 32. 2. The SoluMon v Describe how you take Customer PAIN away § Describe “A Day In The Life” AFTER your Product § For ALL customer stakeholders § In the enJre Value Chain you are targeJng § Qualify Pain ReducJon -‐ Reduce, eliminate, OpJmize § Qualify Gain addiJon – enhance, add, expand § QuanJfy your VALUE PROPOSITION ( $$$VP$$$ ) for § Each stakeholder § EnJre Value Chain § Company § Target Market
- 33. 4. The Market v Describe the market for your soluJon § How many customers exist for your product § How much do they spend now on soluJons v Show your Strategy to Market Dominance § Show AcJonable Target Market SegmentaJon § Show Current Market PenetraJon § Show your market penetraJon targets and Jmeframes v Describe market sensiJviJes and Growth Rate
- 34. 5. The CompeMMon v Name your Direct CompeJtors v Show your CriJcal DifferenJaJon § Why pick you Today? v Show you deliver compelling VALUE v Describe past success against compeJJon v Show TRACTION
- 35. 6. The Technology v Show your product § Product status... Test, producJon, delivery dates § Scalability Model v Describe Manufacturing plan and partnerships v How do you create barriers to entry? § Secret Sauce § IP strategy § Strong exisJng Partnerships / Channels v Describe how IP will moJvate AcquisiJon
- 36. 7. Approach to Market v How do you build Awareness in Target Market § Web site, tradeshows, Social Media, press § Awareness Scale Up Strategy v How do you saJsfy demand? § Direct sales -‐ Sales Force § Channels – What they bring to you § Market Scale-‐up Strategy v Describe sales cycle and Funnel
- 37. 8. The Revenue Model v Show unit pricing v Describe cash flow model § SAAS – Recurring, SubscripJon, Support, Services § Billing cycles v Show how $ flows from customer to you § For each channel § Show your target margins § Show how much your channels make v Show your gross / net margin targets
- 38. 9. The Revenue Forecast v Show 5 year Revenue Targets § Top line Revenue § Costs § EBITDA v Show related Customer or Unit counts v Show key revenue growth events v Show anJcipated financings v Show breakeven point
- 39. 10. The Milestones v Show major OperaJonal Milestones only § Varies according to company § Show Time Line v Historically – what have you done so far v Future – show you have a plan for Growth v Show you have a plan for their $$ v Overlay Phases of strategy over appropriate milestones
- 40. 11. The Team v Show key execuJves § Show WHY they are ideal for this company § Show what roles they play in company § Show team balance – Market, Business, Tech v Show current Board members § Advisory, Fiduciary v Show external partners § Legal, AccounJng, manufacturing, channels v Show outstanding recruiJng needs
- 41. 12. The Ask v Show Money already invested § Founders, Friends and Family § Total Prior Raises § Grants, loans § Restate this years Revenues v Specify THE ASK § How much $ are you looking for § what % investment will buy § preferred investment mechanism v Show use of proceeds – high level % only v Discuss EXIT Strategy Show comparables
- 42. More info.... WWW.Innovatecalgary.com