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Startup Pitch Bootcamp: Learn How to Pitch for Funding
The document details a startup pitch bootcamp led by Dr. Sergey Sundukovskiy, focusing on essential elements of pitching for funding. Key topics include creating an effective pitch deck, pressure testing ideas, and evaluating investor compatibility. The agenda also covers the importance of storytelling, practice, and preparing various materials for successful investor meetings.
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Introduction to Sergey Sundukovskiy, a Ph.D. entrepreneur specializing in SaaS and startups.
The agenda covers topics on creating a pitch deck and pitching strategies.
Key principles for creating an effective pitch deck, emphasizing clarity, conciseness, and visual aids.
Discussion on the obsolescence of the traditional business plan compared to a modern pitch deck.
Emphasizes the importance of visuals in pitch decks and lists essential components for the structure.
An explanation of different pitch styles, including taxicab and elevator pitches, with examples.
Importance of having a pitch tested without insisting on NDAs, highlighting feedback.
Focus on market analysis, customer engagement, and differentiation principles for startups.
Strategies for competition including price differentiation, unique features, and advantages.
The stages of pitching including preparation, execution, and transitioning to funding.
Essential planning steps and schedules for preparing and executing a funding strategy.
Discussion on valuation and financial calculations relevant to startups in the pitch process.
Criteria and factors for evaluating potential business partners and their alignment with objectives.
Essential talking points and strategies for effective communication during investor meetings.
Strategies for successful team dynamics and effective pitching, underlining the importance of storytelling.
Key lessons for entrepreneurs, including investor expectations, practice, and financial considerations.
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Startup Pitch Bootcamp: Learn How to Pitch for Funding
- 1. Startup Pitch Bootcamp: LearnHow to Pitch for Funding Founder’s Institute | Sergey Sundukovskiy PH.D.
- 2. Introduction & Background Sergey Sundukovskiy Co-Founder,CTO and Chief Product Officerat Raken, Inc. Before Co-Founding Raken, Dr.Sergey Sundukovskiy served in capacities of Chief Technology Officer, Chief Information Officer, andChief Product Officer. Sergey is a serial entrepreneur co-founding multiple successful Startupsfocused on Small Business Marketing andeCommerce. The last Startup co- founded by Sergey was acquired by CapitalOne in 2014. Sergey specializes in implementation ofsubscription-based high volume SaaSplatforms,with astrong emphasis on early stage product development, product marketing, andcustomer acquisition. Specific areas of expertise include User Testing, A/B Testing, Marketing, Big Data, Video Management, eCommerce, RTB platformsandCloudComputing. Sergey has B.A. in Computer Science from the University of California,San Diego,M.S.in Information Technology from the University of Liverpool, Ph.D.in Information Technology Management from the School ofBusiness andTechnology, Capella University, pursuing M.S.in Computer Science from HarvardUniversity
- 3. Agenda 1. Putting Togethera Deck 2. Pitching
- 4. Putting Together a Deck 10-20-30Rule Show, Do Not Tell Taxicab and Elevator Pitches Target Customer Market Analysis Differentiation and JED Pressure Testing Competitive Advantages
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- 6. Deck Rules 10 slides In realityit is 3 (others are used as reference) 20 min In reality it is 5 (at most) 30 point font Last guy from the end of the table Too much information
- 7. Business Plan vs. Pitch Deck BusinessPlan as we knew it in the Business School is dead
- 8. Deck Rules Picture is alwaysbetter! It is worth 84.1 words
- 9. Deck Structure Executive Summary Team Problem Solution Platform Market Opportunity Business Model Pricing Financial Projections Competitors Differentiation Competitive Advantages Milestones/Roadmap
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- 11. Pitches Taxicab Pitch “Facebook forteenagers”, “Flicker for Video” Elevator Pitch What do we do? Who are we doing it for? How are we different? “Raken is a Field Management solution for Construction Industry. I allows Job Foremens and Superintendents to keep track of Labor Hours and document construction activity on the daily bases. Unlike other solutions Raken is a one-stop shop for all Field Management needs”
- 12. Pressure Testing Have your ideaand the pitch pressure tested Do not insist on NDAs. Nobody cares
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- 16. Differentiation & JED What InvestorsAre Looking For? JED – Just Enough Difference Different Enough Not Too Different Valid Question “Why existing competitors are not focused in ‘this’ area?” Invalid Question “Why wouldn’t existing competitors replicate ‘this’?”
- 17. Competitive Strategies Prices We are justlike that only cheaper Differentiation We are just like that with following differences Niche We are just like that only verticalized
- 18. Competitive Advantages Not Easy toOvercome Original Content Execution Loyal Customer Base Brand Awareness Easy to Overcome Patents First Mover Obscurity
- 19. Process Initiation • Are YouReady? • Timeline Checklist • Deck Online • Investor List • Intro Cal Elaboration • Final Deck • Investor Schedule • In Person Meetings • Pitching • Investor Asks Transition • Valuation • Partner Selection • Final Consideration
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- 21. Plan & Docs Schedule –Set one Materials – Have your materials ready Partner – List who you want to talk to (Investor list/IRM) Document – Investor Q & A, data requests Outcome – What is your desired outcome?
- 22. Schedule 1 ✔ PreparePitch Deck 22 Jan 2018 2 ✔ Complete Appendix Slides 29 Jan 2018 3 ✔ Schedule Meetings for 2 Week (4-5 meetings a week), Presentation & Finish Due Diligence Book 12 Feb 2018 4 ✔ Send Preliminary Data to Favorites 19 Feb 2018 5 ✔ Finish Due Diligence Book 19 Feb 2018 6 ✔ Finalize Slide Deck 26 Feb 2018 7 ✔ Meet with First Set of VCs 05 Mar 2018 8 ✔ Meet with Second Set of VCs 12 Mar 2018 9 ✔ Meet with Third Set of VCs 19 Mar 208 10 ✔ First Termsheet 23 May 2018 11 ✔ Select Term Sheet 26 May 2018 12 ✔ Close Series A Round 30 Apr 2018
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- 24. Valuation Calculator Cash, Every MovieCost $2,184
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- 26. Partner Selection Synergistic Portfolio Hands OnExperience Business Growth Strategy Congruence Board Engagement Model Full Boat Team
- 27. Partner Evaluation Interest level Are theygenuinely very excited about the opportunity to work with us and do they understand our market & market strategy? Partner fit Do we think we'd like to work with this partner for the next 10 years and can they bring strategic value going from $1M to $10M ARR? Portfolio fit Do they have very deep knowledge in the Startup area, are they or have they invested in complimentary portfolio companies? Strategically aligned Fastest route to billon or bust, or responsible growth strategy that doesn't place unnecessary risk on the business?
- 28. Are You Ready? Intro CallTalking Points Elevator Pitch Pitch Deck Appendix Slides Data Room
- 29. Intro Call Plan 30m Intros High levelmetrics Qualify based on ideal partner criteria You’re not raising
- 30. Intro Call Are We Buyingor Selling? Discussion kickoff Plan on kicking off a raise in Q1, Angel Investors made intros to a few investors that felt would be a good fit Asks Deliver Would love to learn more about you and “Firm Name” Do you have any thesis around industry/are they genuinely very excited about the opportunity to work with us and do they understand our market & market strategy? Partner we want to work with next 8-10 years Do they have very deep knowledge in the Startup area, are they or have they invested in complimentary portfolio companies? Quick history Focus on digitizing high frequency paper base work flows in the field Historical value prop and go to market to Further value prop and go to market Single workflow one user persona to multi- workflow, multi-persona, going both upmarket and international Capital Efficient Raised $XK- at $XK run rate with $Xk in the bank Traction XK customers in Y countries DAU = Mobile XK, Web = XK MAU = Mobile XK, Web = XK WAU = Mobile XK, Web = XK Net Negative Churn/Land & Expand X% gross monthly churn, -Y% net negative churn Why I’m Having A Call
- 31. In Person Meeting Practice Do NotLie Know You Data Pitching Is a Team Sport Know Your Role Do Not Block Check Your Ego Home Advantage Matters Two-Way Street
- 32. - Jim Collins FirstWho, Then What, Then How.
- 33. Slide Deck Team – visionaryleadership, deep understanding of competitive landscape, can lead to +$1B Product/Market – Strong customer references, compelling why now, well defined market, increasing evidence company can get to $300M ARR. Sales/Marketing – Success with at least one marketing channel and indications of scalability, getting to repeatable sales model (vs founder-led sales model) Moat – conviction that company can build defensibility by leveraging data
- 34. Are You Ready? Team -Who Is On the Bus? Traction - What Have You Done So Far? Vision - What Is Your Vision for Your Business? Roadmap - How Are You Going to Get There? Promise - What Are You Going to Get When You Do?
- 35. Do Not Readthe Deck, Tell a Story
- 36. How do Iget to Carnegie Hall? Practice. Practice. Practice. Fail you will, if practice you won’t.
- 37. Funnel 87 Introductory Calls 22 Presentations 13 In Person Presentations 9 TermSheets 1 Wining Term Sheet
- 38. Lessons Learned Investor Shoes Whyyou? Why this much? Why now? Correct Investor Profile Industry Investment Strategy Check Size Existing Portfolio Board Style FounderResponsibilities Do Not Run Out of Money Do Not Run Out of Money Do Not Run Out of Money ValuationContradictions Not All Offers Are Created Equal Liquidation Preference Look At the Fine Print Practice Practice Practice Practice