2. Agenda
1.
2.
3.
4.
5.
6.
7.
8.
Introduction
Anatomy of a Pitch
What’s a Pitch Deck and Why is it Important?
Tips on Preparing Your Pitch Deck
Understanding the various types of pitches
Tips for crafting an effective pitch deck
Useful resources
Get to Work: Presentations
5. Presentations have become the
de facto business communication tool.
Nancy Duarte,
Presentation Design Guru
6. Common Roots of Poor Presentation
Vague intent
Poor structure
Lack of presence
Low engagement
Poor use of visuals
Insufficient preparation
Not understanding your audience
Poor Communication Video: http://youtu.be/rIABo0d9MVE
10. It has a Strong Start
• Impactful Statement that captures attention fast!
Example:
Researchers have found that we make eleven major
decisions about one another in the first seven seconds of
meeting!
They have also found that non-verbal cues have over 4
times the impact on the impression you make than
anything you say!
11. It has a Strong Start
• Use the “Hook”
– Current affairs
• e.g. Do you know that every year, about 10,000 offenders are released
from prisons? About 5,000 prisoners are trained, and 2,000 of them are
matched with employers.
– Bold / New statement
• e.g. Researchers from NYU found that we make 11 major decisions about
one another in the first 7 seconds of meeting! They have also found that
nonverbal cues have over 4 times the impact on the impression you make
than anything you say!
– Intriguing question
• Have you wondered who will win the online war by 2020? Apple? Google?
Microsoft? Facebook?
– S2AME
12. Sufficient Body
• Highlight the unmet or under-served needs
(or wants) that your business will fulfil.
• Focus on how your products and services will
meet those needs (or wants), or how your
company presents a new and competitive
angle in an existing market (or create entire
new ones!)
13. Sufficient Body
• Briefly share your market research findings.
–
–
–
–
Size of the (addressable) market
number of direct competitors in the market
total dollar value of potential sales in the market.
If any, highlight any first-hand research you conducted, such as
positive statements from product trials or promises of future
patronage
* More will be discussed in the Elevator Pitch section
14. It has a Strong Close
What do you want them to do?
• Leave them a thought?
• To Reflect?
• Ask for something?
15. Impact
What Others Will Think / Say About You / Your
Product?
Simple
Clear
Concise
Compelling
Inspiring
Provocative
Powerful
20. What’s Your Story?
•
•
•
•
•
•
•
Why should they care? (ie. Customers, users)
Can they identify with the pain/need/belief?
What can you do for them?
Does your solution meet their needs?
Why should they adopt your ideas?
Will it solve their problem/pain?
How will they benefit?
22. A Clear Message….
…creates a lasting impression on your investors’
minds without any confusion or distraction
23. What’s Your Message?
• What is that one single message that you want
your audience to know (e.g. FEDEX)
• What is the most important question that needs
to be answered?
• Can you illustrate with a word/image/video?
• Will they “get the point” by the end of your
pitch?
25. Convince Them…
• Are they inspired / moved by your message?
• Do they believe you?
• Will their lives be changed as a result?
26. The Power of Words Video
http://youtu.be/XG8_AH6viNk
27. Commit an Action…
• Are they inspired / moved by your message?
• Do they believe you?
• Will their lives be changed as a result?
28. Real Life Example
Phil Libin On Evernote’s Close Call: Just 3 Weeks of
Cash Left During The 2008 Financial Crisis
1 Million Customers
Discussion:
Have you ever used a product that changed your life and you tell others
about it?
29. 3. What’s a Pitch Deck and
Why is it Important?
30. What’s a Pitch Deck?
• A set of presentation slides that summarizes and
effectively communicate a business idea
sufficiently enough to potential investors.
• Helps to prioritize and organize business models
in an easy-to-understand manner so that
investors can get the gist of their business
without excessive explanation.
• Usually used for fund-raising purposes.
31. Why is it Important?
• An investor is usually introduced to your business
idea through your pitch deck.
• It helps them decide if they want to invest in your
company or hear more about it.
• Hence, it is important to make sure your pitch is
simple to understand and generally applicable to
all audiences.
33. “A meaningful relationship between you, your
slides, and your audience will connect people
with content. Display information in the best
way possible for comprehension rather than
focusing on what you need as a visual crutch.
Content carriers connect with people.”
Nancy Duarte, Presentation Guru
34. 1. It’s about YOU
• YOU are the message.
• A good pitch deck supplements and enhances
your presentation.
• Simplicity in slides sets the stage for more
effective presentations.
35. 2. Know Your Goal
• What are you pitching for?
–
–
–
–
Funding?
Hiring?
Sales?
Is a demo required? (or show a product sample)
• What do you want to get in the end?
– Awareness?
– Feedback?
– Get a second meeting?
36. 3. Know Your Audience
• Who are you pitching to?
– Do some research beforehand. What’s their
background? (e.g. if tech-savvy, expect technical
questions)
– If investors, who have they invested in recently?
(what is it about that startup that successfully
attracted their investment?)
• Decide how best you can best prepare your
presentation
– More visual or more data?
37. 4. Highlight Compelling Elements
• Strengthen the pitch by offering a piece of
information relevant to your audience. This
could be the effect or economic value of your
offering, expressed in a simple number or
sentence.
• If you are a brand new company, highlight
your personal track record and credibility
41. 5. Design, Not Decorate
• Plan what you are going to display!
– What is the most important information you want
your audience to know
• Information on your slides should be:
– Meaningful, Useful, Relevant
– Don’t overload, don’t over-run time allocated
• Less is More?
– It depends on the occasion
– Minimal text + Meaningful visuals
42. 6. Try One of These
• Guy Kawasaki’s “10-20-30 Rule”
– 10 Slides, 20 Minutes, 30 Point Font
• Garr Reynold’s “1/7/7 Rule”
– 1 main idea per slide, max 7 lines of text, max 7
words per line
• 5 Slide Rule:
http://techcrunch.com/2010/11/02/365-days-10-million-3-rounds-2-companies-all-with-5
• David S. Rose’s “13 Slide Rule”
– Covered in later section
43.
44. 7. Referencing Others
• Reference other startups / products in the
market, adding that you do it differently /
better
We will talk more about this later
45. Some Common Mistakes
• Be mindful of your body language
– Nervous, Fidgeting, Pacing
•
•
•
•
•
Don’t rush through your slides
Don’t read of the slides
Don’t cut & paste excel sheets
Don’t provide meaningless information
Practice! Practice! Practice!
– 1 hour for every minute
• Don’t mumble
• Make eye contact
• Smile!
46. Some Common Mistakes
• Watch your words!
– Never say “first,” “only,” “huge” or “best,” as these are trigger words
to signal inexperience
– Eliminate any buzzwords, acronyms or industry jargon from your pitch
• Avoid making statements like:
–
–
–
–
“If we get one percent of the total market we will be successful”
“We will have first-mover advantage”
“There are no competitors”
Don’t make your market so large that is can be easily confused for
everyone or most of everyone on Earth, such as saying “consumers”
or “women” or “cyclists”
48. Schedulicity is a real-time, online appointment calendar that
streamlines the scheduling process between service-based
businesses and their clientele.
http://youtu.be/SWOeu3Q5WoM
Flinja is an exclusive college-centric site that connects
students with alumni one job at a time.
http://youtu.be/Fppf8y4Y7I4
Seekly provides a face to face, speed dating service online.
http://youtu.be/BQVu8eLjU8I
Ecobe is a search engine that recognizes the value of content
providers and their importance in making a healthy,
sustainable Web ecosystem. http://youtu.be/xjR1R3p90rQ
49. Schedulicity
• Used video as attention grabber to start off
• Strong voice, stage presence
• Powerful words (revolutionary, unique perspective, superexcited, powerful, proven)
• Highlighted achievements (4 verticals, 1700 cities, appointment
scheduled every 4 seconds, 70% done after business hours)
• Described (and repeated) 3 features with benefits (better managed
business, increase revenue, communicate better with customers)
• Emphasized “Filling Empty Time Slots” as a solution to a pain point
• Used a real-life case of business using the product
50. Flinja
• Confident an calm voice to start
• Started with “Here’s the problem”, then present solution
• Used a popular technique called “X meets Y”
(“Airbnb for service providers”)
• 3 features with benefits
• Used an example
• Product demo
51. Seekly
• Big smile, hand gestures
• Asked audience a question to start. Establish rapport
• Get audience to identify with the pain points
• Get into demo quick (under 90 seconds)
• 3 simple steps to sign up
Ecobe
• Presentable / well-dressed / good posture
• Big smile, hand gestures / composed / confident
• Strong start / asked audience a question to start
• Uses the pause for great effect
• Memorable ending (leaves audience a thought + apple)
• No slides!
55. The One Liner Pitch Template
(by Adeo Ressi, Founder of Founder Institute)
My company, (Company Name), is
developing (or has developed), a (Defined
Offering) to help (a Target Audience)
(Solve a Problem) (with a Secret Sauce).
How To Write A One Liner Video
http://vimeo.com/16447520
56. Examples of One-Liners
My company, GradeZone Points, is developing an online
and mobile platform to help socially-conscious businesses
reward high school students for good grades and good
attendance with deals and local programs that inspire a
community-wide concern for education.
Our company, KIDzOUT, is developing a mobile
application to help parents find nearby diaper changing
stations, kid-friendly restaurants, play areas, or medical
services using our proprietary, national database of over
260,000 known locations.
57. Examples of One-Liners
My company, Flat-Club, is developing an online
marketplace to help students and alumni of top universities
find short-term accommodation by leveraging existing
social networks to create trust.
My company, Bombfell.com, is developing a monthly
subscription for clothes to help tech geeks dress well, using
technology to curate individual wardrobes at large scale.
58. Examples of One-Liners
My company, Neo, is developing an online lending platform
to help first time car buyers get an affordable car loan by
assessing credit risk based on the borrower’s real-time
financial and social data as credit history.
My company, ScatchApp, is developing a mobile application
to help designers transform their paper sketches into
working, interactive mock-ups using phone’s built-in
camera.
59. Examples of One-Liners
My company, Mocku.ps, is developing a Web application to
help product design teams quickly share mockups, precisely
communicate and collaboratively refine design ideas with
dead simple drag and drop tools.
My company, Airto, is developing a web-based social
seating check-in platform to help air travelers see who is on
board their flight and use Facebook and Linked in to assign
all flight seats with one click.
60. Examples of One-Liners
My company, LintinZone, is developing a social shipping
network to help customers buy stuff from all over the world
without worrying about the cost and availability of
international shipping and travelers earn extra money
during their trips.
My company, GiftWoo, is developing a gift
recommendation engine to help men foster better
relationships through periodic and thoughtful romantic
gestures, utilizing behavioral science, models of preference
and social trends.
61. Examples of One-Liners
My company, Bragnation, is developing a virtual stock
market to help startups reach their target audience by
allowing them to virtually trade shares with their friends
and the community.
My company, Zoot Interactive, is developing a mobile app
to help college students find free food on campus in
partnerships with organizations to increase traffic at their
events.
62.
63. Main & Only Purpose
Intrigue your listener who will
Invite you back for an
In-depth discussion
Goal =
Stimulate Curiosity
+
Reason to Reflect
Source: Terri Sjodin, professional public speaker
64. The Elevator Pitch
“The average length of a New York City elevator ride is
118 seconds – but in general, adults’ non-task oriented
attention span is just about 8 seconds.
That’s less than that of a goldfish.
The average person spends less than a minute on a
webpage, so with that ticking clock in mind, make your
elevator pitch genuine, passionate, compelling and leaving
me wanting more.”
- Brad Keywell, Co-founder of Groupon and Lightbank VC
65. Key Elements to Address
1.
2.
3.
4.
5.
6.
7.
What is your product or services?
What are the features/benefits?
Who is your market?
How will you make money?
Who is behind the company?
Who are your competitors?
What is your competitive advantage?
66. Example:
“Hi, I am Dave the CEO of Surfing Unlimited.
We do for surfing what chair lifts does for
snow skiers.
The problem with skiing is getting up to the
top of mountain. Same with surfing, getting
out to the wave.
We are the first company to puts an electric
motor under the surfboard and remotely
controlled with a wireless device held by the
surfer. Would you like to know more?”
71. ZapMeals is an online meal order &
delivery service matching hungry
consumers with great local food
preparers.
We’re “eBay for takeout orders”.
72. Team
– Keep it simple
– Highlight relevant skills & experience only
– Emphasize strengths
– OK to add Board Members, Advisers, Investors &
Future Hires
– Some put this slide at the beginning, some at the
end….
– Do not be afraid to show up with less than a perfect team. All startups have holes in
their team—what’s truly important is whether you understand that there are holes and
you are willing to fix them
.
73. Team
• Wayne Lambright, CEO & Cofounder
– 10 years community site development / online sales
– 5 yrs SW dev Macromedia Dreamweaver / UltraDev
• Ivan Krasnov (aka Dave McClure), CTO & Cofounder
– BSEE, Taganrog State Univ. of Radio engineering (TSURE)
– 7 yrs SW dev in SEI Level 5 organization
– 5 yrs exp managing overseas development teams
74. A Note About TEAM
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•
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•
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The Team Slide: Investors don’t want to hear your life story
http://www.pitchenvy.com/category/articles/
When drafting your startup’s pitch deck, don’t go overboard on the Team slide. The main goal of the Team slide is to
highlight your team’s past accomplishments, but that doesn’t mean list every project you’ve ever worked on. Your key
points should be somewhat relevant to the product you’re pitching, plus prove that you’re qualified to drive this startup to
success.
Case Studies:
Profitably’s pitch deck has lots of good info, yet their Team slide has potential to instill much more confidence. Simplifying
your team slide & removing some bullet points may be the most effective way to better your team slide, especially if you
have alot of info on it.
BrandBoards’ Team slide stays relevant & proves that they’re accomplished…almost to the point of bragging! If you’ve
made truly awesome accomplishments in your career (stuff like $1 Billion+ in sales, or working with brands like NFL, MLB,
NHL, etc…) then definitely put those in your deck! If you haven’t, then briefly outline the most prestigious accomplishments
you have and try to spin them as relevant.
Cadee’s minimalist Team slide is visually appealing and doesn’t overload you with details. Sometimes less is more. What’s
really cool though is how they list their golf handicaps on the slide. It may seem a little non sequitur…until you remember
that they’re pitching a golf startup. Stay relevant.
Other Tips:
AngelList founder, Babak Nivi, recommends placing yourself as the last entry on the team slide because it not only makes
you appear more humble, but also allows you to easily transition into the next slide (The Problem) by discussing how your
travels led you to discovering the problem.
Dave McClure‘s pitch deck guide, Startup Viagra, suggests that VCs get “hot & bothered” when you focus on certain
attributes of your team. Geeks should try and prove that they have a strong technical background, while Entrepreneurs
75. Problem
– What is the problem?
– How big is it? Make it obvious
– What / whose pain that you’re alleviating?
– Can you quantify it? (stats, examples)
– Bottom Up approach is good
– Avoid looking for a solution that is searching for a
problem
– Minimize or eliminate citations of consulting
studies about the future size of the market
76. Problem: Fast Food… Isn’t Either.
Preparers
Consumers
•
•
•
•
Is there a market for my
cooking?
Restaurants have high
startup costs
Delivery is tough to do fast,
warm, & well
•
•
Tough to find good fast
food
What’s the best /
cheapest / fastest place to
order from?
It’s been 30 minutes –
where’s my order?
77. Solution
•
•
•
•
•
How do you alleviate this pain?
What can you do for them?
Will it solve their problem/pain?
What are the benefits?
Ensure that the audience clearly understands
what you sell and your value proposition
• Eliminate buzzwords or technical jargons
• Note: Don’t do an in-depth technical explanation
here! Just the gist of how you fix the pain.
78. Note!
• Defined Offering: short, simple and capable of
being understood by everyone.
• Examples: a website, a mobile application,
hardware, or desktop software.
79. The ZapMeals Solution
• Help part-time / small-time cooks get started in
the food business; quickly & inexpensively.
• Help consumers find great fast food; search by
cuisine, price, rating, & delivery time.
• Orders are picked up and delivered by network of
independent agents; tracked online real-time via
Google or Yahoo Maps.
80. Product / Service / Cause
– Product Name
– Screen Captures
– Demo (Practice! Practice! Practice!)
81. Product/Market Fit
Product / Market fit can be loosely defined as
the point in time when your product has
evolved to the point that a market segment
finds it attractive so that you can grow your
product / company scalably. In many ways,
finding Product Market fit quickly allows you
to focus on company growth rather than
spending a lot of time and money on iterating
your product to find that fit.
83. Secret Sauce / Competitive
Advantages
• What’s the technology, secret sauce or magic
behind your product or service?
• What do you have that can cause unfair
advantage? (experience, market share,
talents, IP/know-how, exclusives)
• Go for less text and more diagrams, schematics
and flowcharts on this slide. POC results, etc.
84. Technology
• ZapMeals has developed a proprietary least-cost routing
& matching algorithm for ordering & delivery
• Our Secret Sauce:”Search by Takeout Time”
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–
–
–
estimated food preparation time (historical)
delivery distance (how far away
delivery provider (on-time record)
show delivery stats real-time via Y! or G Maps (+ GPS)
85. Market Size
– What is the addressable market?
– WHO will be buying your product actually?
– Be realistic
– Bottom Up (users x usage x revenue)
86. Note!
• Target Audience = initial group of people that
you will market your offering to (and buys
your product!)
Examples:
- women age 25 to 35 years old
- system administrators at medium sized
technology businesses.
87. Size of Market
Top Down
• $511 Billion spent dining out annually
– Restaurant Association of America.
Bottom up:
• 100M people eat out every day
• Today ~4% of meals ordered online (=4M orders/day)
• In 5 years 25% of all meals ordered online (=25M orders/day)
• Average takeout order cost is $14
• Available Total Market Size:
– $350M daily
– >$125B annually
88. Business Model
– What are the key revenue streams?
• Size, growth, back up by customer behaviour
– How will you make money?
– Break-even?
89. Business Model: 3 Rev Sources
• Transactional:
– charge a 15% food prep fee (min $1)
– charge a 15% food delivery fee (min $1)
• Advertising:
– charge small preparers by click-thru (SEM for food)
– charge larger preparers for premium / sponsored listings
• Supplies, Equipment, Insurance:
– provide supplies, education for ZapMeals preparers
– free licensing to ZapMeals preparers who buy $250 eqpmt
– insure against food inspection issues via large group
90. Go to Market
– How will you reach customers?
– What channels or verticals? (telemarketing, SEO,
etc)
– What traction do you have at the moment?
– How will you build momentum?
– How do you measure? (volume, cost, conversion)
91. Marketing Plan
•
•
•
•
Partner with notable foodie bloggers
Adwords Campaigns to regional metros
Generate SEO traffic via food listing pages
Distribution Partnership with Tastyr.com
– 700 food preparers in SF
– Q3 Rollout to 3-4 West Coast urban areas
• Order Discounts for Reviews & Referrals:
– “Get $3 off your order if you write a review”
– “Delivery is free if you refer 3 friends!”
92. Traction & Awards
– Customers acquired
– Funding secured
– Awards won
– Key milestones achieved
Note: leave this slide out if none
94. Competition
– Who are they? List them. Be thorough.
– What do you know about them?
– What are their strengths / weaknesses?
– How can you overcome them?
– How are you different? Use comparisons
• Easy/hard, cheap/expensive, open/proprietary
– Never dismiss your competition. Everyone—
customers, investors and employees—wants to
hear why you’re good, not why the competition is
bad.
96. Barriers to Entry
– What keeps others out?
– Have you found the differing abilities between you
and the competition?
97. Financials
– Provide a simple three- to five-year forecast
containing not only dollars but also key metrics,
such as number of customers and conversion rate
– Identify Breakeven Points and Profitability
– Investments secured to date
– Make realistic assumptions
– Bottoms up approach
98. Current Status / Forecast
– What is the current status of your product or
service?
– What the near future looks like?
– What are some positive momentum and traction
that you could use to your advantage?
– Again, be realistic!
99. Financing
• Raised $250K Seed round in Jan 07
– Gil Penchina, CEO Wikia (ex-eBay)
– Jeff Clavier, SoftTech VC (Userplane, Truveo, MyBlogLog)
– Dave McClure (ex-PayPal, SimplyHired)’
• Seeking $1.5M Series A round
– $4.5M pre-money valuation
– targeted closing Sept 15
100. Use of Proceeds
– How will you use the funding, if given to you?
– What are the key expenses
– Got a roadmap?
101. Capital Request
– How much are you asking for?
– Be specific
– Can combine with previous slide
102. Contact Info and Close
– List your contact details
– Close with a Call to Action
103. What to Prepare for Your Pitch
• Pitch Deck —simple, clean and to the point
• Notes – to refer to as you make your
presentation (either cue cards or the Notes
feature in PowerPoint or Keynote)
• Handout – a more detailed document to leave
behind
• Prototype / Sample (if any)
104. Final Tips
1. Be Your Own Devil’s Advocate
–
Test every statement you include in your pitch deck by
asking “So what?”, “What’s my point and why does it
matter?”
2. Remember to keep your message simple, short
and clear
–
Too many ideas coming at listeners too quickly can cause
them to miss vital information. Continually refine your
pitch until you reach a perfect balance between brevity
and thoroughness
105. Final Tips
• Practice your pitch before the pressure is on
– Memorize all of the important numbers and figures (market sizes,
expected revenue figures and start-up costs to be able to answer
listeners' questions with confidence)
– Practice your pitch in the mirror at first, then move on to friends and
family. When your listeners can immediately put your pitch in their
own words after hearing it, then you’ve got it!
• When the opportunities arise, always ask for feedback on
your presentation.
– Audience feedback is often one of the most valuable resources
available that you can use to prepare for your next presentation
• Watch videos of excellent pitches
– See TED videos
• Google for best pitch decks
112. One-Liner Pitch Practice
Instructions:
• Write your one-liner pitch using the template provided below
• Usually you need a few drafts before you get the right one
• Once you are comfortable with it, memorise it and practice it
with others
• Use it as often as you can when you meet people
One-liner Pitch Template
My company, (Company Name), is developing (or has
developed), a (Defined Offering) to help (a Target Audience)
(Solve a Problem) (with a Secret Sauce).
Editor's Notes
{"27":"Demonstrate that you are THE BEST PERSON to execute the idea and convince them that you are someone they want to partner with and/or invest in. (hidden)\n","55":"You will get to practice later\n","34":"Your deck is just a medium through which you convey your message, NOT a crutch to rely on! \n","23":"? (USP, Novelty, Benefit, Impact) e.g. FEDEX – Overnight Delivery – Find an example with pictures (airbnb?)\n","46":"http://www.slideshare.net/cuchullainn/preparing-a-pitch-to-professional-investors\n","24":"Example: Ads on Youtube before the clip. “You can skip ad in 5, 4, 3, 2, 1\n","13":"Avoid digging too deeply into details here for most listeners, to avoid boring or distracting them from the main message. \n","30":"Hence, they also contain important financial information about the startup (e.g. revenue, projections, funds raised-to-date, etc).\nIt doesn’t have to contain confidential information or any information that you are not comfortable in giving out.\n","19":"Get them excited and persuade them that you have a great idea. \n","31":"Even if they don’t, they might send your pitch deck to other investors / friends who might be interested. \n","103":"Tip: Remember that the pitch deck supplements your presentation\n","37":"(remember the one clear msg earlier!)\n","15":"Discussion:\nDescribe Steve Job’s Presentation (put a pic of Steve)\n","10":"When an investor is actively looking at new deals, he or she may see one or two presentations per day (up to ten per week). \nMake your opportunity stand out and be memorable for the investor. \nBottom line: the pitch deck should reinforce your words instead of just repeating them.\n"}