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Presentation on Pitching
- 1. The Pitch is a B….
Founder Institute – July 11th 2012
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 2. about.me/FilipTack
► Co-Founder at Nomadesk, a leading provider of cloud storage, file
sharing and synchronization software that enables users to
access, share, synchronize and safeguard files from any
location, whether online or offline.
► Co-Founder at Carambla, the smart marketplace for parking.
► “Startup executive” with a predilection for disruptive innovation and
startup business (SaaS, Cloud Computing); raised over € 7 million
in venture capital (seed, series A and B).
► Nomadesk is venture-backed by Gimv, BAMS Angel Fund and BAN
Vlaanderen. Received the EBAN Award for “Most Successful
Angel-Backed Company” in 2009.
► No expert at “pitching”… learning as it goes.
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 3. The Elevator Pitch, as defined on
Wikipedia
► An elevator pitch is a short summary used to quickly and
simply define a product, service, or organization and its
value proposition.
► The name “elevator pitch” reflects the idea that it should
be possible to deliver the summary in the time span of
an elevator ride, or approximately thirty seconds to two
minutes. At one point in time, I took it very literal!
http://www.youtube.com/watch?v=3Frv-2HC6E8
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 4. What is it about?
Tour-guide of the Obvious…
► Realize this: The people you pitch all have Attention Deficit Disorder, especially
investors – even worse it is a pandemic.
► It is about answering one “simple” question, from the listeners perspective:
– “How could I be interested in what you do (or offer), so I’d want to learn more?”
► It is a packaged deal (WYSIWYG):
– Perspective: who you address is the KEY! Yes, you will have more than one pitch.
– Your performance: get rapport, .i.e., “connect”
o Confidence (no stubbornness!)
o Energy (don’t go overboard)
o Positivity… SMILE!
– Narrative: be crisp
o “What seems to be the problem officer?” (there’s always a problem)
o How big is the problem?
o How do you solve it?
o Why should I care?
o What do you want?
► Practice a lot and when pitching investors… think Jerry Maguire!
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 5. Common Mistakes
► Mistake #1: You don't explain what problem your business solves:
– Enough said! Self-explanatory
► Mistake #2: You offer too many facts and numbers:
– Information OVERLOAD, i.e. “you are losing me…”
► Mistake #3: You tout sales forecasts:
– As a startup, your forecast is NEVER credible! Don’t waste precious attention span on it!
► Mistake #4: You're too attached to your business plan:
– Be flexible, be open to suggestions… Because, GREAT, you have a discussion going!
► Mistake #5: You discuss ownership stakes:
– There’s a place and time for that. It’s just NOT NOW, not even near!
► Mistake #6: You forgot to mention what you want:
– You’re looking for an investment? A sales partner? A team member?
► Mistake #7: You just ran out of business cards:
– You got to be kidding me!
► Mistake #…
– Source: FTA & http://www.businessinsider.com/the-5-worst-pitch-mistakes-entrepreneurs-
makes-2011-8
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 6. Example 1: SolarCoating™
► I am Joe Smith, co-founder and CEO at SolarCoating™. • He has a team!
► We solve a problem in the solar energy market, with over 2 million • Hype!
photovoltaic (PV)
installations and a production value of a $X million. • Green tech., big
market!
► Here’s the problem, and therefore opportunity: solar cells are actually very inefficient in
capturing the sun’s energy. What’s worse, their performance is badly • Problem! aging
affected by
and pollution. That is why we have developed a patented coating that achieves two things: i.e.
• Patented solution,
– It improves the absorption of UV-light. entry barrier
– It biologically clean the solar panels.
► We can demonstrate at least 10% efficiency gain through repeated use of our coating. For
most smaller, private installations that represents an extra annual return of up to $150.
The coating can be sold at a fraction of that amount, via professional • Value proposition, ROI
installers and DIY-
retail. • Business model
► SolarCoating is ready to start production and is looking for:
– Team members? • Want!
– Channel partners?
– Investors? Amount? No %
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 7. Example 2: MyLightZone™ – Shine
your light
► I am John Doe, MyLightZone is my second startup. I previouslyrepeater!
• BINGO, a sold
SuccessCorp and made a good return for Buck & C .
• Hype! Crowd-sourcing
► MyLightZone is an online shop for designer lights, created and vetted via
stuff!
crowd-sourcing. We turn aspiring individuals into “rockStarck designers”!
• Ego problem!
► Our online platform allows you to design and promote your lighting fixtures (and
designer skills) through Facebook, Twitter, etc. The best • designers get
Solution
coached, their designs produced and sold via the exclusive •Mylightzone e-
Value proposition
• Business
shop. Designers receive royalties and their fans a discount at purchase. model
► MyLightZone is inspired by similar “design-on-demand” Not the first! like
• shops
SmartFuniture.com, but with a more focused approach. • ROI potential
► Mylightzone is currently in stealth mode, looking for:
• Want!
– aspiring team members (dev., web design, product management, etc.)
– aspiring designers
– production partners (manufacturing, logistics, etc.)
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 8. Example 3: CreativeComments™ –
Make Your Point!
► I am Alex Jones, CreativeComments is my third startup. BINGO, a repeater!
• Our last
startup, SuperWare, was sold to Microsoft.
• Hype! Social media
► CreativeComments is an out-of-the-ordinary commenting platform for Facebook
stuff!
and Google+. We let 1 billion “socialnauts” make their point better! Big numbers
•
► Existing Facebook and Google+ commenting options are just too limiting. With
CreativeComments, you can be more expressive and original by posting “lush”
• Problem
• Value helps to
comments that include video, (Pinterest) pins, (Ever)notes,… whateverproposition
get your point across. What’s more, we allow you to structure and track your
opinion across different social media.
► CreativeComments comes with a Freemium model, while we explore different
• Business Model
conversion scenario’s as our community grows. We are inspired ROI/Exit potential
• by solutions
like Pinterest and Instagram (acquired by Facebook for approximately $1
• Not the first!
Billion) that let people express themselves in exciting, new ways.
► Creative Comments is currently in stealth mode, looking for: • Want!
– Team members?
– Investors? Amount? No %
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 9. More Examples (source IBBT)
► http://www.alumni.hbs.edu/careers/pitch/
► http://www.chillibreeze.com/articles_various/ten-tips-to-
pitch-your-company-to-a-VC-810.asp
► http://blogs.wsj.com/venturecapital/2010/01/11/how-to-
pitch-a-venture-capitalist-on-a-napkin/
► http://www.pentechvc.com/our_approach_htpyi.html
► http://www.readwriteweb.com/start/2010/03/art-of-vc-
pitch-resource-roundup.php
► http://ideatransplant.com/2011/02/the-vc-pitch-
presentation/
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.
- 10. If the going gets tough, NEVER
forget that...
► “One of the greatest pains to human nature is the pain of
a new idea. It makes you think that after all, your
favourite notions may be wrong, your firmest beliefs ill-
founded.
Naturally, therefore, common men hate a new idea, and
are disposed more or less to ill-treat the original man
who brings it.”
o Walter Bagehot (1826-1877); a British journalist and early editor of
“The Economist” specialised in institutional economic issues.
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.