telling your story idea competition finalists march 15, 2010
TRANSCRIPT
IDEA Mission
“…to assist the most promising local entrepreneurs in the commercialization of innovative products, processes and deliveries by connecting them to the best resources available, along with access to the capital it takes to launch a successful venture.”
What IDEA isn’t looking for
Fancy “exit” strategies Promises of significant new jobs People that are trying to be someone they
aren’t just to “get the money”
Acknowledgments
Portions of this presentation taken from: “Art of the Start”
Guy Kawasaki “Preparing Effective Business Plans”
Bruce Barringer
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Sample Presentation Sequence
1. Title Slide
2. Quick overview
3. What we do – problem we solve
4. Opportunity and target market
5. Technology/Business Model
11-8
7. Competition
8. Marketing & sales
9. Management team
10. Financial projections
11. Current status
12. Financing sought
13. Summary & Questions
Sample Presentation Template
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Title Page
Company name/logo
Name of founder(s)contact info
Who the presentation is being made to
Date
Beginning Your “Pitch”
Do Provide simple
explanation Its relevance (why it
matters) Help people “get it”
Don’t Tell your life story Go into minute detail Assume your idea is
obvious
11-11
What is the issue?
Explain the issue What’s the pain? Why current solutions are
unsatisfactory
Validate the problem
How significant is the issue? How bad is the pain?
Your Solution
Discuss your solution How is it better than
the alternatives in a meaningful way to customers?
Benefits (hopefully self-evident)
Remember, don’t go “geeky”
Helping People “Get it”
YOU SAY… Little Man Says You Reply You Then Explain
“We use digital processing in our hearing aids”
“So What!?”
“Our product increases the clarity of sounds”
“For instance, if you’re at a party where lots of people are talking, you’ll be able to hear what people are saying to you”
“We provide 128-bit encryption in a portable device”
“So What?!”
“It’s harder than hell to break into our system”
“For example, if you’re in a hotel room and want to have a secure telephone conversation with your headquarters”
“Ask the Little Man”“Ask the Little Man”
Technology (Secret Sauce)
Talk about your technology, or unique aspects of your product or service, if appropriate
Don’t go “Geek” Show pictures of your product or prototype
If possible show a “demo” Talk about any intellectual property issues
involved
Opportunity & Likely Market
Discuss likely target market Relevant trends,
issues Show, visually if
possible, size of market, projected sales (3-5 years)
Explain estimates & assumptions
11-16
Competition
Discuss direct, indirect, and future competitors There is competition, even if you don’t think
so. Where are these $’s being spent now? Talk about your points of competitive
advantage Side-by-Side Comparison is helpful (visual
aids)
Marketing & Sales Product/business positioning Pricing strategy Sales process
Buyer purchase factors How you create awareness
& reach end users Channels of distribution
Who are your customers? Length of sales cycle
A Little Perspective B1-B: 30,000 feet & $200 million
$200 million “Lingo” rich Not specific enough
Navy Seals: bits, bites, nits, nats Geeky, too “in-detail”
A-10 Warthog: 1,000 feet & $13 million Provides appropriate detail Shows market savvy
Management Team Discuss the following: Management team
Personal/professional backgrounds and role in the project
Any gaps in management team and how they will be addressed
Board of directors and/or advisors (if applicable)
Current Status
Discuss accomplishments to date Investments made to date and by whom
How funds have been spent Current ownership structure of the firm Describe the firm’s form of business
ownership (i.e., LLC, Subchapter S Corporation, C Corporation)
Show that you have traction
Financials
Break-even cash-flow Break-even unit sales Summary of income & cash flow projections
for the first 3 to 5 years Shows scalability
Financing Needs
Sources & Uses table Identify development and
marketing costs necessary to reach a major milestone
The sources of funding and corresponding amounts
In Conclusion…
Summarize the strongest points about your venture & team
Solicit feedback Set up a follow-up
meeting if possible
10/20/30 Presentation Rule
Actually more of a guideline 10-12 slides (no more than 15)
Provide “enough” info“Lead” not “Read”
20 minutes (tops) 30 point font
Easier to read
POWERPOINT “Pointers”
Dark background Substantive & professional
Add logo to master page Use basic fonts Don’t go “whiz-bang”
POWERPOINT “Pointers”
Use Bulleted Lists (preferably one level) Use diagrams & graphs (but not cheap
graphics) Make printable slides
Ask judges to not “skip ahead”
My Contact Info
Kevin Cooper
2900 University Avenue
148 Dowell Annex
Crookston, MN 56721
Office: 218.281.8187