Date post: | 11-Nov-2014 |
Category: |
Business |
Upload: | caroline-cummings |
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Reasons Startups Fail#DrexelSiliconValley
Small Wages.Bitter Cold,
Long Months of Complete Darkness.
Men WanedFor Hazardous
Journey.
Constant Danger,
Ernest Shackelton
Safe ReturnDoubtful.
Honour & RecognitionIn Case of Success.
By Endurance, We Conquer!
The Wrong Team1
Marketing-Heavy
Tech-Heavy1
Ideators
InnovatorsStarters
GrowersExiters
The Single Founder
2
Finding the Right Co-FounderFinding the Right Co-FounderWhat you can do
Public speaking
Press releases
Copywriting
Editing
Social Media
Email marketing
Google Analytics
Write plans
Graphic design
What you like to do
X
X
X
X
X
Missing skill-sets
ProgrammingSEOSEMFinancialsHRBiz Dev…
Wrong Legal Team!
3
Trust Your Gut!!!
Interviewing attorneys…• Work with your industry before?• How much time for you?• Who else if they are not available?• Raised rounds of financing?• If so, create/read a Capitalization Table?• Compensation packages for new hires?• IP protection?• Global expansion?• Experience with exits – M&As, IPO?
Boiling the Ocean4
Not Talking to Customers5
Include Customers in your R&D
AskListenImplementRewardThank
Stealth to Long..
6
Slow to Launch…
6
Stuck on Original Idea7
Taking “Dumb Money”
8
8
Smart money brings… Business experience Management experience Maturity Contacts Mentorship Challenge …
Founder-itis!
9
Spending too much
money
10
How to avoid these mistakes?
Mentors, advisers Continued education Proper planning Always tracking Being agile Adjusting…
PitchPlanTrack
All in 1 Easy to Use Tool
Track Monthly Burn Rate
Deliver Powerful Pitches to Investors
in 10 Minutes
Purpose of the 10 Minute Pitch:
Deliver APerformance
Rehearse!Rehearse!Rehearse!
AssumptionsWritten a Business Plan ✓
Conducted Due Diligence ✓ Team, Financials, Investors, Market,
Competition, IP, Trends …
Have Mentors/Advisers ✓
Build CredibilityHit the “stage” strong!Share your “rock star” talentsShare “been there done that”Utilize the “cool factor”Spark their interest…
Tell A Story∧Compelling
Address the Problem1 Min
Your Solutionto the Problem
Describe the uniqueness of your product
1.5 Mins
OurTraction
Your SuccessesMoney raisedBarriers overcomeKey investorsKey hiresSales madePartnershipsLOIsPatentsMediaEtc…
.5 min
Target Markets
1st2nd3rd4th5th
Beta Market, Addressable Market, Market Segments, % of Revenue/Market, Potential Market...
Highlight any Key Research1 min
Target Markets1st Harvard/Stanford
2nd Ivy League
3rd Colleges/Univs
4th 14 – 34 yrs old Businesses…5thFastest growing demographic
Women 55+ years old
Acquiring Your Customers?Including the cost to acquire a
customer
.5 min
Your CompetitionClearly communicate your Value Proposition
1 min
Due Diligence on Competition
City/LocalFocus
No CharacterLimitations
Free toPost
Can IncludeImages
SocialMedia
FriendlyEasy to search
Local Newspaper
✪
✪
✪ ✪ ✪ ✪ ✪
Your Revenue Model
How you will make $$$Who it will come fromMarket validation…
1 min
Your $ ProjectionsInclude Key AssumptionsResearch to back it upExplain inflection points
1 min
Assumptions are King!
.5 min
Know the Metrics for Your Model
What to track if SaaS business model:•Content Marketing (uniques, TOS, bounce rates, open rates, CTRs, CVR…)•CAC = Customer Acquisition Costs•LTV = Lifetime Value ($)•Churn Rate (the lower the better)•Engagement - Referral Rates - Cancellation Reasons
Your Team
1 min
Your Funding Needs
.5 min
Brittany’s sister is
having a baby and I
need $5 to buy her a
nice gift.
Your Exit StrategyInclude ComparablesEstimated Timeline to Exit
.5 min
End on High Note
Remind them why you’re a Rock Star!!
Free e-Book
Questions?
@iamcarolina