Secrets of Storytelling by Candace Klein
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Transcript of Secrets of Storytelling by Candace Klein
Candace Klein,
Founder & CEO of Bad Girl Ventures and SoMoLend
© 2011 Candace Klein
Secrets of The 5-Minute PitchFrom the start-up’s perspective
Personal Story• Three most important things that make you better fit to run this company than anyone else
• Vulnerability• Personality• An excercise
Key Topics • The Products or Services• The Market• Sales Strategy• Management Team• IP /Patents/Barriers for Future Competitors
• Ownership and Control• Summary Financial Info• Capital Needs
Where to Start…
•An overview of the company
– Uniqueness of product or service
– The problem it solves!
– Competitors (current & future) their products and strategies
– Unfair competitive advantage
Market & Strategy
• The Market– The target market and target customer
– The size and growth rate of the market
• Sales Strategy– The channels to be used to go to market
– Sales strategies
Leaders & IP
• Management Team– Senior managers, and their relevant skills/experience
– Any open positions, and the key skills needed
– Advisors (but only the good ones)
• Intellectual Property-- significant patents or other key intellectual property
Owners & Projections
• Ownership and Control– Board of Directors– Capitalization table
• Summary Financial Information– Five year projections– Exit scenarios
$$$• Capital Needs
– Funds already invested by management and outsiders (who are they)
– Current capital needs– Projected use of funds– Future financing plans (“Capital Access Plan”)
– Pre-money valuation of the Company and terms of the current offering
Closing
• Conclusion/Summary
– Summarize the main points
– Call to action
– Thank you
Pitfalls• No exit plan• “no competition”• Jargon/acronyms• Too many words per slide/no graphics• Not telling how you’ll make money• Unrealistic projections• “If I just capture 1% of the market…”• Reading slides• Mistakes/misspellings (not mispellings)
Were you listening???
What do investors look for in your presentation?
Canaan Pitchbook
Candace Klein, J.D.
Founder & CEOSoMoLend
Commercial Loan Volume
Banks
Local Governments
Business Associations
Corporations
Individuals
Stra
tegy
Com
mer
cial
Tran
spar
ency
ACH M
anag
emen
tM
appi
ng
Mob
ile
DDDDDDDDRRRRRREEEEEE
Candace Klein / Chief Executive Officer• Founded Bad Girl Ventures in 2010• 4 years as an attorney, 6 years as a lobbyist• 4 bachelors degrees, and a J.D. from Northern Kentucky University
Christopher Calvert / Chief Operations Officer• Senior Strategic and Business Development Officer for Axcess Financial• Former consultant for Arthur Andersen, Ernst & Young and Brady Ware Capital• BS in Finance, Miami University, and J.D., University of CincinnatiMichael Hawkins / Chief Technology Officer
• Over 16 years of software engineering, product management and business development experience• Product and technology leader at organizations including startup, mid-size and large global companies
Cheryl Stamm / Vice President, Sales• 25 years sales management in the software industry• Former VP of Sales for Balanced Insight, Inc.• 6 years at SAS Institute as Sr. Sales Director
Dustin Garis, Marketing Director
Advisors
Directors
Rahul Bawa
James Alexander
Madeleine Ludlow
Todd Federman
Candace Klein
Jack Wyant
Vidar Jorgenson, CEO
Craig Hopewell, Former In-House Counsel
Madeleine Ludlow, Former CFO
Mark Richey, Pricipal
Carlin Stamm,Former Division COO
WorkWear Corp.
Financial Overview
2012 2013 2014 2015 2016Revenue
Transaction Fee Revenue $245,320 $5,045,363 $16,000,000 $45,000,000 $60,000,000Advertising $0 $0 $250,000 $500,000 $1,000,000Data Sales $0 $0 $250,000 $500,000 $1,000,000
Total Revenue $245,320 $5,045,363 $16,500,000 $46,000,000 $62,000,000
Transactions Number of Loans (with revenue) 207 4,025 26,667 75,000 100,000 Average Loan Amt $40,000 $30,000 $30,000 $30,000 $30,000
Expenses Total Operating Expenses $600,832 $1,104,192 $4,210,000 $10,470,000 $13,500,000 Development Costs $286,000 $1,040,000 $2,600,000 $3,900,000 $4,500,000 Total Transaction Expenses $99,517 $413,750 $3,306,667 $9,300,000 $12,200,000 Legal $108,594 $120,000 $300,000 $400,000 $500,000Subtotal $1,094,943 $2,677,942 $10,416,667 $24,070,000 $30,700,000
Net Income ($849,623) $2,367,421 $6,083,333 $21,930,000 $31,300,000
Legal(IP &
Securities)
Software Developmen
t
OperationsIndividualInvestors
CincyTech
Holekamp Ventures,
LLC
North Coast Angels
30%
410K
150K
150K 25
0K240K
Queen CityAngels
SoMoLend Founded: May 2011MILESTONES
Technology Alpha (Borrower UI, Key) Beta 1 (Lender UI) Beta 2 (Peer-to-Peer) Beta 3 (Mobile App) Full Rollout
Loans Closed on 15 Loans
Lenders $1M LOI (Key Bank) 41 Insitutional Lenders 235 Individual Lenders 1,000 Individual Lenders Anticipated
Borrowers 100 and Growing 450 and Growing 1,100 and Growing 3,000 Projected 10,000 Projected
IP Provisional Patent Application Filed Final Patent Application Filed
Regulatory JOBS Act Signed into Law Lead CFIRA Industry Group General Solicitaion Permitted Crowdfunding Legal
Q1 Q2 Q3 Q420132012
Q1 Q2 Q4Q32011
Customer Acquisition
Automating Technology
Mobile App
still seeking
Customer Service
$5M
$7.5
Questions?
Candace Klein1220 Vine Street, Suite 5
Cincinnati, Ohio 45202
859.803.9499