2016.01.27 Startup Next Lovell pithes
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Transcript of 2016.01.27 Startup Next Lovell pithes
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Perfect Your Pitch
Startup NEXT, 1/27/16Rebecca Lovell
Director of Entrepreneurship & IndustryOffice of Economic Development, City of Seattle
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• Goals of the pitch• Techniques and examples
Today’s flight plan
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• Breathe • Plant • Modulate • Land • Sell it$1
BILLION
Delivery
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• Get and keep their attention
• Visual aid vs. leave-behind• Whet their appetite
Principles of the Pitch
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Winning pitches
• Team• Team • Team• Product• Market
Street cred + product/market fit
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Value Proposition
• The problem/pain and your solution/remedy
• Why you will win• Your awesome market• The one-sentence litmus
test
WHAT DO YOU DO, FOR WHOM AND HOW?
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• 2m weddings per year, avg 4.3 bridesmaids per wedding • 8m women spend $2bn on dresses they don’t want to own
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$1 BILLION
Team
Whole greater than the sum of the parts
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$1 BILLION
Team
Nick + Richard: 20 years in tech,2 software patents, 1 wife met online.
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$1 BILLION
Winning your investor pitch
• Problem/solution• Market• Team
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$1 BILLION
The close
Remind them of why you will win…..
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Ingredients of 60-second pitch
• What you do, for whom, and how (this should be 30 words or less)
• Problem and solution• Market size • Monetization strategy• Team (summary of
capabilities)
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Example of 60-second pitch
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$1 BILLION
FAQ’s: Mitigate risk, maximize opportunity
• Market: who is your customer? sizing the market (stealing market share or greenfields opportunity?)
• Go to market strategy: sales channels/partners? how will you scale the business?
• Revenue model: how much is a customer worth?
• Competition: why are you different and better?• Team: can you execute?
• Traction : does the product work? can you substantiate your claims? page views? conversions? customer validation? signed deals?
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$1 BILLION
No matter what…