insider insights on raising capital

Download Insider Insights on Raising Capital

Post on 29-Jul-2015

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1. Powered by pre-fundraising essentials 2. This presentation consists of insights inspired by 33voices interviews with Jenna Abdou. 3. Table of Contents Page 4 Page 12 Page 18 Page 26 Page 36 Page 44 Chapter 1 - How to Hit a Homerun Pitch Chapter 2 - The Allstar Team Chapter 3 - What to Expect in the Meeting Chapter 4 - The Hard Questions Chapter 5 - How to Plan Ahead Credits 4. How to Hit a Homerun Pitch Chapter 1 5. Build a thoughtful deck that highlights the key points you want to explain. Think of every slide as a bread crumb leading to Hansel and Gretels house. Focus each one on a single part of your story and support it with demonstrative facts. Inspired by Jenny Lefcourt 6. Answer these four questions to nail the first 30 seconds of your pitch: Inspired by ICONYC Labs 7. Answer these four questions to nail the first 30 seconds of your pitch: What do you do? Inspired by ICONYC Labs 8. Answer these four questions to nail the first 30 seconds of your pitch: What is your vision? Inspired by ICONYC Labs 9. Answer these four questions to nail the first 30 seconds of your pitch: Why are you the best team to execute it? Inspired by ICONYC Labs 10. Answer these four questions to nail the first 30 seconds of your pitch: Why should I, as a customer or an investor, be interested? Inspired by ICONYC Labs 11. Heres an example of ICONYC Labs pitch. Its exactly 30 seconds! ICONYC Labs is a first of its kind acceleration program that focuses exclusively on early stage Israeli tech companies to help them grow their businesses globally via NYC. Part of what we want to do is bring them here and have them take advantage of all that NY has to offer; To be able to land their first customers, partners, and ultimately investors. Inspired by ICONYC Labs 12. The All Star Team Chapter 2 13. Investors want to partner with scrappy entrepreneurs who have a deep conviction that their vision will change the world. These are the four things they look for in a team: Inspired by Jenny Lefcourt 14. Investors want to partner with scrappy entrepreneurs who have a deep conviction that their vision will change the world. These are the four things they look for in a team: Authenticity: Does the problem youre solving keep you up at night? Inspired by Jenny Lefcourt 15. Investors want to partner with scrappy entrepreneurs who have a deep conviction that their vision will change the world. These are the four things they look for in a team: Big vision: What have you done to achieve your goal today? What milestones have you set to make your version of the future a reality? Inspired by Jenny Lefcourt 16. Investors want to partner with scrappy entrepreneurs who have a deep conviction that their vision will change the world. These are the four things they look for in a team: Relentlessness: Entrepreneurship is a roller coaster with an occasionally malfunctioning seat belt. Will you be able to survive the Goliath drops? Inspired by Jenny Lefcourt 17. Investors want to partner with scrappy entrepreneurs who have a deep conviction that their vision will change the world. These are the four things they look for in a team: Leadership: How capable are you of inspiring people (customers, partners, team members, etc.) to do business with you? Inspired by Jenny Lefcourt 18. What to Expect in the Meeting Chapter 3 19. Do your homework. Target investors who are interested in and proficient in your market. Dont pitch your food startup to a firm specifically focused on Bitcoin. Inspired by Jenny Lefcourt 20. Remember that meeting one is an introduction. As a founder, youre working to build rapport. Ignite interest to invoke action. Inspired by Jenny Lefcourt 21. Pitch to your unique audience. Each customer, investor, and potential partner will have different questions about your work. Answer their questions, not every question that applies to your business. Inspired by Jenny Lefcourt 22. Create an appendix to quickly reference data and visual representations that supplement your answers. Inspired by Jenny Lefcourt 23. Its about emotional intelligence, really being able to read the other side and play ping pong. You want to get to a point where everyone is playing and enjoying it. - Eyal Bino Inspired by ICONYC Labs 24. Talk is cheap. Its a telling indicator if a partner asks you to meet their partner. If they say, Love it. Be in touch. theyre likely not interested. Look for action not words. Inspired by Jenny Lefcourt 25. Bigger is not better. Valuation isnt the key to success. It often puts you in a corner. If your valuation is too high for where you are, you dont have the ability to move up and to the right as easily. Right partner + Right valuation = Long term success Inspired by Jenny Lefcourt 26. The Hard Questions Chapter 4 Five founders share the most challenging questions investors have asked them and how they responded. 27. Would you sell this company for $1 billion? I had no idea what to respond with. At the end of the day, it depends on the situation, on the timing, on who the buyer is, and on how our company is doing. Inspired by Liz Wessel 28. What kind of CEO are you going to be? Inspired by Vasco Pedro 29. Try these questions to prepare your response: 30. Try these questions to prepare your response: How do you make decisions? 31. Try these questions to prepare your response: What are your weak points and how do you supplement them? 32. Try these questions to prepare your response: How do you inspire people to join your team? 33. Why dont you take on all of the projects that are offered to you? Our top-line revenue numbers would be higher if we said yes to every project, but we dont feel like thats the right thing for our business. We want every ZinePak release to be special, reserved just for properties with SuperFans. A mass-market, 150-releases- a-year approach isnt for us. Inspired by Brittany Hodak 34. If you look back in a year and things are going bad, what is the reason? I usually respond with the statistical likelihood of a major earthquake in California that destroys our office and swallows Los Angeles, our largest market, cutting revenues in half. Inspired by Mike Townsend 35. What if Google decides tomorrow that theyre going to launch your product? With all investors, there is a framework between fear and greed. Dont attack fear with why they shouldnt be fearful. You always attack fear with greed and you always address too much greed with fear. Never try to address fear with fear or with a rational argument on why they shouldnt be fearful. Inspired by Munjal Shah 36. How to Plan Ahead Chapter 5 37. Startup culture is defined by outcomes. Constantly ask yourself: What do we need to do to raise follow-on capital? Inspired by Jeffrey Wald 38. Each time you raise a new round, view your capital in an 18-month window. Set 100 day milestones to capitalize on it and keep the team excited. Inspired by Jeffrey Wald 39. Answer these three questions to map out your 100 day period: Inspired by Jeffrey Wald 40. Answer these three questions to map out your 100 day period: What is our burn rate? Inspired by Jeffrey Wald 41. Answer these three questions to map out your 100 day period: How long is this capital going to last us? Inspired by Jeffrey Wald 42. Answer these three questions to map out your 100 day period: What benchmarks do we need to hit to demonstrate that were ready to raise more money? Inspired by Jeffrey Wald 43. Make compensation work for your team. If its something you can truly agree on, pay people based on what they need to live in the early days. We all needed each other. We did what we had to do to make sure that everybody was able to survive. Well do it in reverse as we go forward. Inspired by Vasco Pedro 44. ASK A FOUNDER If you have a question we missed, submit it to 33voices Q&A for a direct answer from one of our founders or thought leaders. 45. FEATURED: Jenny Lefcourt Partner at Freestyle Capital @JennyLefcourt Munjal Shah Founder of Health IQ @MunjalShah Eyal Bino and Arie Abecassis Founders of ICONYC Labs @iconyclabs Jeffrey Wald Co-Founder of Work Market @JeffreyWald 46. FEATURED: Liz Wessel Co-Founder of Campus Job @lizwessel Vasco Pedro Co-Founder of Unbabel @justvasco Mike Townsend Co-Founder of HomeHero @Mikettownsend Brittany Hodak Co-Founder of ZinePak @brittanyhodak 47. CONNECT WITH US! Tell us what you think Jenna@33voices.com Presentation by Chase Jennings Insights by Jenna Abdou 48. LEARN MORE

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