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Professional investors laugh when they hear an entrepreneur state, “We have no competition.” Widen your search to include companies with products peripheral to yours, where extension of their product would seem logical, especially if you plan to be successful early in making sales into their market.
In my first enterprise software company we developed a methodology for sales that we called PUCCKA , which I wrote about previously. Having a good sales methodology can help you ensure your company runs more disciplined campaigns and focuses scarce resources on your best opportunities. It the second rule of sales, “Why Buy Me?”
I am a big believer in VC pitches that the bio slide should come up front. Actually, I think the advice in this post applies to any sales meeting also. I wanted to write a quick post on a pet peeve that I have when teams present “who they are” whether in a bio slide or just in the up front introductions.
An entrepreneur pitches using a deck with no slide for competition. We have no competition.”. Widen your search to include companies with products peripheral to yours, where extension of their product would seem logical, especially if you plan to be successful early in making sales into their market.
A perfect round number is ten slides, with the right content, that can be covered in ten minutes. Most advisors will tell you to write the business plan first (20-30 pages), then distill the key points into a set of Microsoft PowerPoint slides for standup presentations to potential investors. Competition and sustainable advantage.
A perfect round number is ten slides, with the right content, that can be covered in ten minutes. Here are the ten slides you need: Problem and market need. Competition and sustainable advantage. List and position your competition, or alternatives available to the customer. Marketing, sales, and partners.
The path I went down after a few years was to hire more process driven people and devolved more daily operational ownership to people running individual functions such as product management, sales management, finance, etc. One of the most obvious places where you see this is in sales & marketing. Ditto the CFO. I was the laggard.
Finally, I started pushing the idea, like a vacuum cleaner sales men, showing it to retailers and vendors, and it finally caught on. I decided we''d patent a sliding mechanism on our Bluetooth, and use 3D printers to take pictures that people send to us, and my company will design a Bluetooth based on their picture, on our 3D printer.
I’m writing this post as part of my series with Advice on Raising Venture Capital but will file it under Sales Tips as well since it applies equally to both scenarios. Or on a sales campaign you’ve finally gotten your project sponsor to take you to the “executive committee&# where decisions are made and budgets are agreed.
Competition: Chegg (has raised $144 in debt and equity)—estimated by Steven Carpenter ( TechCrunch ) to be 10x more unique visitors than BookRenter (during peak book renting seasons) with nearly $140mm in revenues for 2010. Private, flash sales site focused on apparel goods (women, men and children). Competitor: Slide.
There are a million ways to make graphics lighter or resize your file without a huge impact on the quality of the slides?—?after Summary: Send the Deck Pitch decks are sales & marketing decks and like in any sales activity, any great sales person assumes his or her competition will eventually get their deck.
We then walked through our sales pipeline and discussed major campaigns. Then competition. You put some update slides on things like key hires or biz dev deals being negotiated and you didn’t plan to talk about them. But they were in a slide and people asked you questions so it ended up chewing up 30 minutes.
As noted in RIP RFPs , entrepreneurs should generally avoid RFPs because they cannot afford to expend the time and resources required to participate in such regimented and lengthy sales processes. As noted in Competitive Sleuthing , some partners routinely share information about the companies with whom they are working. .
I recently did a post for startups on understanding sales people. new features need to go into the sale people’s slides so that they know the latest and greatest about how to differentiate from the competition. A few people have asked me to try and define the perfect startup organization chart.
CapLinked , the online platform for private investment funded by members of the “ PayPal Mafia “—announced that it is launching a worldwide pitch competition for entrepreneurs to present their business ideas to a panel of all-star judges from Idealab, Rincon, Rapidfire, and Actarus. The deadline for entering is November 15.
If Ventro was worth $8 billion on $2 million of sales surely a paltry $1 billion would suffice. Join because you know you’ll be earning less than you could elsewhere at some meaningless job cranking out non-core code, producing Powerpoint slides or shuffling paper. rounds and still be competitive. You can always earn more.
A perfect round number is ten slides, with the right content, that can be covered in ten minutes. Here are the ten slides you need: Problem and market need. Competition and sustainable advantage. List and position your competition, or alternatives available to the customer. Marketing, sales, and partners.
The deck itself was produced by a committee of functional team lead who were asked to do 5–7 slides each for an update. Each section head reads his / her 5–7 slides. If you put up 5 slides on “what should we order for lunch today” the board will spend 30 minutes debating that. There are too many pages. It passes the weight test.
We spent time out in the marketplace talking with customers, looking at their solutions, comparing ourselves with our competition and then squirreling ourselves away in our offices designing our next set of features. Our sales guys were on the front line and heard what they needed to win deals. Tim started to change our processes.
One, is an upright, traditional looking microscopes, where you look at glass slides. My background is I was a sales rep in this industry for fourteen years, with Nikon. We got first place in that competition, and they followed up with a $2M investment in the form of a convertible note. So we had to raise capital to meet orders.
When pitching to investors, entrepreneurs always seem to start with a customer pitch, then add a slide or two about the business. In reality, they need a separate pitch about the business, carrying over only a slide or two about the solution. Competitor positioning and sustainable competitive advantage.
As a startup advisor and investor, I recommend a pitch deck with about 10 slides backed up with a written business plan of approximately 20 pages, both containing quantified answers to the following key questions. This is also the place to first mention patents and any other differentiators that put you ahead of competition.
A business plan is the outward facing definition of the business you hope to drive with your hardware solution, with a hardware overview in the intro to highlight customer value and competitiveness. Call out your top competitors, highlighting your sustainable competitive advantage, including patents, trade secrets. and trademarks.
One, is an upright, traditional looking microscopes, where you look at glass slides. My background is I was a sales rep in this industry for fourteen years, with Nikon. We got first place in that competition, and they followed up with a $2M investment in the form of a convertible note. So we had to raise capital to meet orders.
Send me in a corner to work on slides, graphs, spreadsheets and charts. Initially I thought it was too long of a name for a blog.When I looked at the competition it as AVC.com and Feld.com. I told her I wasn’t yet convinced that she’d make a good: product manager, designer, sales person, leader, CEO. Not operational.
You’ll learn about competitive products that exist or are being built. You’ll refine your sales and investor pitch. Someone Stole My Startup Idea – Part 2: They Raised Money With My Slides?! You’ll discover flaws and hopefully correct them. You’ll learn a lot more about the sector/industry.
You’ll learn about competitive products that exist or are being built. You’ll refine your sales and investor pitch. Someone Stole My Startup Idea – Part 2: They Raised Money With My Slides?! You’ll discover flaws and hopefully correct them. You’ll learn a lot more about the sector/industry.
I’ve had many startup founders tell me that their startup literally has no competition,” said Frank Gruber, Cofounder of Tech.Co, Startup of the Year , and Established. “In What startup teams don’t realize is that having competition is good. Try to keep the presentation tight, 10 slides is ideal,” Gruber said.
Skip the sales pitch and avoid preaching. Your second sentence should acknowledge competition, but highlight your added value. It should be in the introduction section of your business plan, on the first slide of your investor pitch and the beginning of your executive summary. Build up for the punch line at the end.
Let me be quick to say that a plan doesn’t have be a book, and probably should start as a “pitch deck” of maybe a dozen slides which cover all the right bases. Opportunity segmentation and competitive environment. Marketing, sales, and customer experience. No mention usually means no plan and not competitive.
Certainly a slide or two needs to carry over describing the product and features at a high level. Potential investors love to see gross margins in the fifty percent range or greater, with recurring revenue through subscriptions, follow-on sales, or services. Intellectual property and sustainable competitive advantage.
There’s plenty of capital out there, but there’s also a lot of competition for startup funding. Build your financial model from the bottom-up showing what your average sale looks like and how it feeds into your top level summary financial picture. Use before and after slides to hit home with investors. Thoughts on pitching?
I believe in this so much that, despite my post advising you to be prepared for the *norm* in VC, I wrote a post about a company that came in for a presentation and never even got the slides out or presented a demo. I think the norm in the industry is still to see Powerpoint slides and I wouldn’t hold this against anybody.
For what ever reason we’re wired to have amnesia during the run up and prescient memories of how we ‘knew it all along’ as soon as the slide begins. Have sales bonus plans based on more than just sales targets. Sales Startup Lessons' That’s management by fire.
I also recently wrote a post about a company that came in for a presentation and never even got the slides out or presented a demo. It’s the same as in any sales-oriented meeting and make no mistake raising money is sales. I need something structured like slides or a demo to orient me. Very few people ask.
After my company was acquired by Salesforce.com I was asked to stop blogging and they took over my blog as an asset in the sale of the company. I started by trying to think I could explain my concept without having to patronize everybody with artificial PowerPoint slides. Slides, please.” Page 3: Competition.
controlling your psychology ) you no doubt have heard me say that raising capital is a sales & marketing process. If the questions aren’t organically flowing you have “pocket slides” after the main deck you can pull out to share more information or analysis. This is Sales 101.
By popular acclaim, San Diego-based Echo Laboratories founder Eugene Cho claimed top honors, and a $15,000 check, for his two-minute presentation last week in the 10th annual “Quick Pitch” competition, hosted by San Diego’s Tech Coast Angels. Cho, a former sales manager for Nikon Instruments and Vala Sciences, founded Echo Labs in 2014.
An entrepreneur pitches using a deck with no slide for competition. We have no competition. Widen your search to include companies with products peripheral to yours, where extension of their product would seem logical, especially if you plan to be successful early in making sales into their market.
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