presentation: 30 weeks, a founders program for designers
TRANSCRIPT
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WINDFORCE VENTURES
WINDFORCE!!
Venture Capital for Social & Mobile Technology
!!
Early stage investing: you, your deck & MVP
!
!
Michoel Ogince, @Twabbi Founding Partner, Windforce Ventures
Resident Mentor, 30 Weeks
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WINDFORCE VENTURES
WINDFORCE!!
Venture Capital For Social & Mobile Technology
!
!
!
!
This presentation was given to the entrepreneurs at 30 Weeks. !
30 Weeks is a founders program for designers. !
The program is operated by Hyper Island and supported by Google in partnership with the leaders in design, tech, business and venture capital.
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WINDFORCE VENTURES
WHAT VC’S ARE INVESTING IN
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WINDFORCE VENTURES
and (almost) nothing else.
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WINDFORCE VENTURES
How you think How you answer questions How you work through challenges
How you answer emails How you work in a team
How you deal with stress
How you communicate
How you communicate the vision How you write the pitch deck
How you plan to monetizeHow you roadmap the product
What you write in social feeds
How you write your LinkedIn profile
How you identify challenges
How you think about consumer vs enterprise
How you measure ROI
How you understand the competitive landscapeHow you plan the GTM strategy
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WINDFORCE VENTURES
“The most important qualities in a founder (or founding team) are not technical skills or business expertise, rather the ability to communicate clearly, passionately, and effectively. If someone can explain what they do clearly in the first 30 seconds, there’s a good bet I want to learn more. Most people are boring. It sounds rude to say, but it’s true.” !
Jonathan Triest, Founding Partner Ludlow Ventures
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WINDFORCE VENTURES
• Building a startup is like running the hurdles. As you jump one challenge you are faced with another, and another…
!• VC’s look for hurdle jumpers. Stamina and determination to overcome challenges.
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WINDFORCE VENTURES
you
BEYOND YOU, VC’S INVEST IN
product
market
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WINDFORCE VENTURES
PITCH DECK
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WINDFORCE VENTURES
BE A DECK NINJA
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WINDFORCE VENTURES
STORIFICATION
•VC’s read decks for a living •Your deck should tell a succinct & exciting story •Every word should add something •Fonts, colors and s p a c i n g matter •and so do the number of slides •above all…
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WINDFORCE VENTURES
If I am not intrigued by the end of the second slide. !
Goodnight.
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WINDFORCE VENTURES
DECK COMPONENTS
!
1.Intro 2.Problem 3.Solution 4.Product 5.Market Opportunity
There is no magic formula Ideally 12-15 slides
!
!
!
6.Competition 7.Traction 8.Revenue Model 9.Team 10.Investment Ask
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WINDFORCE VENTURES
INTRO•Clean & simple •Entire problem/ solution hinted to in:
•image(s) •tag line
•Make viewer want to see “next-slide”
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WINDFORCE VENTURES
PROBLEM•When researching/ideating your startup, focus 80% on the problem & 20% on the solution
•No valid problem no real solution, no funding
•Highlight how you verified the problem is valid
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WINDFORCE VENTURES
•Enterprise value •Leads into product slide(s)
SOLUTION
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WINDFORCE VENTURES
SOLUTION•Consumer value •Leads into product slide(s)
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WINDFORCE VENTURES
Remember this? !
you
product
market
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WINDFORCE VENTURES
PRODUCT•Depending on time and presentation format (email, in-person): •images •video •demo
MARKET OPP•Every market is a multi-billion dollar opportunity!
•DON’T OVERLY HIGHLIGHT YOUR $ MARKET OPP
•Market growth over time •Factors affecting growth •User adoption based on:
•traction •competitors
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WINDFORCE VENTURES
If you were allowed only 1 slide to pitch with. !
This is it…
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WINDFORCE VENTURES
COMPETITIVE LANDSCAPE
your startup
!everyone else
!
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WINDFORCE VENTURES
TRACTION
•Every market is a multi-billion dollar opportunity. DON’T OVERLY HIGHLIGHT YOUR $ MARKET OPP
•market growth over time •factors affecting market growth •Show user adoption based on:
•traction (if you have) •competitors
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WINDFORCE VENTURES
REVENUE MODEL
All we want here is to see how you think.
!
Projections go in Appendix.
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WINDFORCE VENTURES
TEAM
•Many do not include this, and VC’s always send an email: “how much have you raised? how much are you raising? and terms?
•Simple is good: •We have raised •Raising x$ for…. •If the cap or valuation is TBD leave it out
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WINDFORCE VENTURES
INVESTMENT ASK
In June ’14 we raised $150k from friends and family
!
We are raising $1M, convertible note, 5M cap, 20% discount !
The investment will be used for…
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WINDFORCE VENTURES
MVP
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WINDFORCE VENTURES
Every investor will have different expectations.
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WINDFORCE VENTURES
But this they will all agree on: !
Wireframes on a napkin will not get you a wire.
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WINDFORCE VENTURES
MVP
prototype
!
alpha
!
beta
!
in-market
!
product market fit
!KPI’s and measures: user, app and SaaS
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WINDFORCE VENTURES
PMF IS YOUR GOAL
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WINDFORCE VENTURES
ACKNOWLEDGMENTSJustin Effron, Co-founder and CEO, Alice