Pitch Clinic Seattle Startup Week - Dave Parker Seven Peaks VC
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The document outlines an agenda for a startup pitch clinic. It discusses what investors look for in startups, including the team, market, idea, traction, and business model. It provides 8 rules for startups, such as having a simple idea and identifiable customers. The document instructs attendees to practice explaining their idea using a template that describes the problem being solved, target audience, offering, and unique aspects. Feedback from mentors is provided to help improve the pitches.
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Pitch Clinic Seattle Startup Week - Dave Parker Seven Peaks VC
- 1. So you have a Startup Idea? Pitch Clinic © 2017 DKParker, LLC @DaveParkerSEAwww.DKParker.com
- 2. Welcome! © 2017 DKParker, LLC @DaveParkerSEAwww.DKParker.com
- 3. Agenda qWhat do Investors look for? qBig Ideas/Big Markets qBusiness Models q8 Rules qExample qBreak qYour Turn – Pitches and Feedback © 2016 Code Fellows www.DKParker.com
- 4. Rules of the Road ○ Don’t Ramble – I’ll interrupt ○ Network – you need to build you network for the future starting tonight ○ Attend – “6 Month Startup” starting October 18 > Ideation to Revenue – Entrepreneur Development Program > Students $20 > Founders $35 > At the Door $45 > Includes dinner > Monthly Milestones > Access to Mentors
- 5. Mentors ○ Serena Glover – Angel Investor and Advisory ○ Caitlin Goetz – Head of Community at Lighter Capital ○ Dave Parker – Venture Partner @SevenPeaksVC
- 6. Don’t be afraid to share your idea! © 2017 DKParker, LLC @DaveParkerSEAwww.DKParker.com
- 7. What Investors Look for in a Startup 1. Team 2. Market 3. Idea 4. Traction > Product > Revenue 5. Business Model 6. Timing 7. IP or Knowledge of the market and speed © 2017 DKParker, LLC www.DKParker.com
- 8. About Markets ○ B2B or B2C ○ Billions ○ $100M opportunity ○ If you own the market how big would it be ○ Established vs immature – headwinds vs tailwinds ○ Market leader vs first mover ○ Known vs unknown ○ Go to market knowledge © 2017 DKParker, LLC www.DKParker.com
- 9. BIG Ideas ○ Simple ○ Transformation vs incremental ○ Changes the market ○ Creates new market from nascent demand ○ Changes the world © 2017 DKParker, LLC www.DKParker.com
- 10. ○ Passion ○ Ideas matter ○ Product matters ○ Is important but not sufficient ○ Execution matter if it’s a good idea ○ Company = investments © 2017 DKParker, LLC www.DKParker.com
- 11. Thinking Like an Investor ”When we invest in a company, we consider six things – Team, Team, Team, Market, Progress and Idea” David Cohen, Techstars founder video @6:30 Single Biggest Reason Startup Fail – Bill Gross Idea Lab Founder Video Idea, Team, Business Model, Funding, Timing © 2017 DKParker, LLC www.DKParker.com
- 12. 8 Rules © 2017 DKParker, LLC @DaveParkerSEAwww.DKParker.com
- 13. 8 Rules 1. Simple Ideas Win 2. You have a revenue stream 3. Name your customer 4. Make something explainable 5. Small Markets suck 6. Mix in a secret sauce 7. Be Original 8. What questions do you want me asking after your pitch © 2017 DKParker, LLC www.DKParker.com
- 14. © 2017 DKParker, LLC www.DKParker.com
- 15. Explain Your Idea © 2017 DKParker, LLC @DaveParkerSEAwww.DKParker.com
- 16. Madlibs for Startups © 2017 DKParker, LLC www.DKParker.com I want to develop to help (solve a problem) (with secret sauce) (a defined offering) (a target audience)
- 17. The Offering ○ Be specific > A “social utility” vs a commerce site ○ Avoid buzzwords > “mobile social CRM” vs. iPhone App ○ Skip the Adjectives – please > ”a revolutionary service” vs. backend software © 2017 DKParker, LLC www.DKParker.com
- 18. The Audience ○ Identify Demographics > IT buyer, new mother ○ Specific Market > Artists and musicians vs unsigned alternative bands ○ Clarify the buyer > Large businesses vs purchasing manager ○ How large is the market © 2017 DKParker, LLC www.DKParker.com
- 19. The Problem ○ Pain pill vs vitamin ○ Is the value to be created? ○ Can that value be captured? ○ Is it really a problem? Or do you just want it to be a problem? ○ If not a problem, e.g. a Game is it fun? © 2017 DKParker, LLC www.DKParker.com
- 20. Secret Sauce ○ What’s special about the product ○ What’s special about you ○ What’s special about the team © 2017 DKParker, LLC www.DKParker.com
- 21. BREAK © 2016 Code Fellows @DaveParkerSEAwww.DKParker.com
- 22. Workshop – Your Turn © 2016 Code Fellows @DaveParkerSEAwww.DKParker.com
- 23. I am developing (solve a problem) (a target audience) (with secret sauce). (a defined offering) Step 1: Articulate Step 2: Evaluate Simple idea? One revenue stream? Identifiable customer? Easily explainable? Large enough market? Legitimate secret sauce? Original? to help © 2017 DKParker, LLC www.DKParker.com
- 24. Resources © 2016 Code Fellows @DaveParkerSEAwww.DKParker.com
- 25. Resources ○ Crunchbase > Funded companies, amount, investors. > ”Pattern Match” for companies that are similar ○ Business Models – ideas are unique, seldom are business models > 9 B2B > 10 B2C ○ Blogs > Tom Tunguz, Redpoint http://tomtunguz.com/ SaaS and MRR > Brad Feld, Foundry Group http://www.feld.com/ > Fred Wilson, Union Square http://avc.com/ > Version One – Marketplace VC Blog, http://versionone.vc/ ○ Pitch Resources > Startup Weekend > Best Startup Pitch decks > Guy Kawasaki “10 Slides” © 2017 DKParker, LLC www.DKParker.com
- 26. Q&A @DaveParkerSEA© 2017 DKParker, LLC www.DKParker.com
- 27. Thanks! @DaveParkerSEA Dave@DKParker.com © 2016 Code Fellows @DaveParkerSEAwww.DKParker.com
- 29. Pitch Time? © 2016 Code Fellows @DaveParkerSEAwww.DKParker.com