WINDFORCE VENTURES

WINDFORCE!!

Venture Capital for Social & Mobile Technology

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Early stage investing: you, your deck & MVP

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Michoel Ogince, @Twabbi Founding Partner, Windforce Ventures

Resident Mentor, 30 Weeks

WINDFORCE VENTURES

WINDFORCE!!

Venture Capital For Social & Mobile Technology

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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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WHAT VC’S ARE INVESTING IN

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and (almost) nothing else.

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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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“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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• 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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you

BEYOND YOU, VC’S INVEST IN

product

market

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PITCH DECK

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BE A DECK NINJA

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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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If I am not intrigued by the end of the second slide. !

Goodnight.

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DECK COMPONENTS

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1.Intro 2.Problem 3.Solution 4.Product 5.Market Opportunity

There is no magic formula Ideally 12-15 slides

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6.Competition 7.Traction 8.Revenue Model 9.Team 10.Investment Ask

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INTRO•Clean & simple •Entire problem/ solution hinted to in:

•image(s) •tag line

•Make viewer want to see “next-slide”

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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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•Enterprise value •Leads into product slide(s)

SOLUTION

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SOLUTION•Consumer value •Leads into product slide(s)

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Remember this? !

you

product

market

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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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If you were allowed only 1 slide to pitch with. !

This is it…

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COMPETITIVE LANDSCAPE

your startup

!everyone else

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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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REVENUE MODEL

All we want here is to see how you think.

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Projections go in Appendix.

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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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INVESTMENT ASK

In June ’14 we raised $150k from friends and family

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We are raising $1M, convertible note, 5M cap, 20% discount !

The investment will be used for…

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MVP

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Every investor will have different expectations.

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But this they will all agree on: !

Wireframes on a napkin will not get you a wire.

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MVP

prototype

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alpha

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beta

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in-market

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product market fit

!KPI’s and measures: user, app and SaaS

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PMF IS YOUR GOAL

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THANK YOU Michoel Ogince, @Twabbi

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ACKNOWLEDGMENTSJustin Effron, Co-founder and CEO, Alice