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As organizations we have become more open and I believe this is great for businesses and their customers. 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.
The “competition slide&# of your investment deck is such a great opportunity to talk about how you’re positioned (premium product vs. economical product? which features do you believe your customers care about and where you’re try to differentiate? Harvey Balls. It is a great place to talk about your future roadmap.
The point of PUCCKA was to develop a common methodology to make sure our whole team approaches sales with the same mindset and to give us a language to talk with each other about our prospects, as in, “have you identified your customers pain point yet?”. The goal is to get the customer speaking about their organization.
I’ve sat through a lot of VC pitches and having been CEO of an enterprise software firm for many years I’ve also sat through many customer meetings with sales teams. The VC might have tried a few times to prompt a discussion and you didn’t take the queue but in stead reverted back to slides.
If your teaser deck was 8–12 pages it would likely include: team market problem why your solution solves this problem progress to date (funding, team, customers, revenue if significant) TAM (market sizing / why this will be valuable) Your “meeting deck” should just be an expansion of what was in your teaser deck. whether they invest or not.
Assign out slides: The best way to involve your team members is to assign out slides they will own. But I find when you don’t assign slides that each person owns often the quiet team members get silenced. It’s OK to attend a first meeting on your own but eventually people want to meet the team.
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. Opportunity sizing.
For extroverted people I recommend that entrepreneurs have an “executive summary&# slide up front that cuts to the chase. Don’t dwell on this slide for ever. If I have an hour with you I want to maximise the time we have a discussion so I want to get through the slides quickly. It’s in their personality type.
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. Here is how and why it works, including a customer-centric quantification of the benefits. Explain how you will make money and who pays you (real customer).
How does it meet customers’ needs? One way to approach that last question is to use this simple model: Customer Acquisition Cost (CAC) How will your business reach prospects? Customer Lifetime Value (CLV) How much money will your business generate from each converted customer? What does the business do?
It’s a shame because the ability to nail these presentations at key conferences can be once-in-a-lifetime opportunities to influence journalists, business partners, potential employees, customers and VCs. In any speech I do that is information rich I often have a summary slide at the end with the key points I want them to remember.
Remember that most people are visual thinkers and Powerpoint slides simply help frame the conversations. Progress to date of your company (when started, key milestones, what shape is the product in, any pilot / beta customers, financing). You should have 10-12 slides and anything else that is detailed should be in your appendix.
The company had less than $5 million in revenue yet we had a multi-tab spreadsheet doing activity-based costing on our customer service staff, operations and technology. We missed our sales target by more than 66% for the year but we had great slides explaining why. After a few board meetings I finally spoke up. Nobody seemed shocked.
Simply, this is identifying a customer need which has economic value to them if they can solve it. ” and if you can’t persuade enough potential customers they have some pain that needs fixing you probably should stick to your day job. Teams usually start with terminology that is very insular and less relevant to customers.
Deka, a startup that manufactures Bluetooth headsets with interchangeable custom faceplate has launched a new Indiegogo campaign to raise $100,000. Custom 3D Printed Headsets. The campaign will help Deka create custom 3D printed headsets and launch a number of stylish designs and colors. January 2014 launch. Deka works simply.
It’s a shame because the ability to nail these presentations at key conferences can be once-in-a-lifetime opportunities to influence journalists, business partners, potential employees, customers and VCs. They had slides with moving images and music. This was evident at the Twiistup pre-event company pitch last week at UCLA.
They care about the quality of what is build more than they care about end customers. As you head into the phase where you’ve had real customers paying real money for a period of time you’ll have a whole new set of issues. You still have some leeway to hire above them if need be.
- SoCal CTO , January 13, 2010 5 Lessons from 150 startup pitches - A Smart Bear: Startups and Marketing for Geeks , July 11, 2010 9 Reasons Why Many Smart People Go Nowhere - Life Beyond Code , March 29, 2010 No Accounting For Startups - Steve Blank , February 22, 2010 Startup Advice In Exactly Three Words - #StartupTriplets - OnStartups , January (..)
As such, simply refuse any and all requests for confidential information (especially financial data) from prospective customers, partners, suppliers, etc. If the other party asks you to send them your slides, find out why they need them. At the end of the call, he requested that we, “send him the slides and a proposal.”.
We''ve put a spin on this, where you can use your own personalization or custom designs for your own Bluetooth headset, just like you would create a personalized case for your smartphone. Our quality is up there with the top makers, but we''re different because no one else is putting a spin on this with fashion and customization.
In many cases, I can break it down into: Customer Acquisition Cost – how will you reach prospects, how will you convert them and how much will it cost to convert them Customer Lifetime Value – how much will you make off of each converted customer This very simple model works for a surprising number of business models.
.&# They know instinctually how customers buy and how to excite them. Because they’re street smart, most great entrepreneurs tend to prefer getting out and talking with real customers rather than sitting in a cubicle all day doing beautiful PowerPoint slides. They have a sixth sense for the competitors’ weaknesses.
So here goes … As much as I like to occasionally make fun of having been a consultant early in my career (although I built computer systems rather than just PowerPoint slides), I realize upon reflection that I did learn a lot of great management practices from working in such a large and well-structured organization as Accenture.
And VC’s are tough customers. If you have beta customers, new pricing plans, different positioning, more market insights, good press coverage – whatever – these are all signs that the ball is moving forward. Because management is so important I always tell people to make the bio slide the first in your deck.
And having frameworks is a useful way to standardize your customer studies so that highly intelligent, inexperienced young people can crank out PowerPoint slides with such authority and beautiful consistency. I mean Porter’s Five forces is a useful framework but it’s basically microeconomics with a pretty wrapper.
If you have ten minutes, that means no more than ten slides. I’ve seen several presentations that never moved past the first slide before running out of time. Remember you are pitching to investors, not customers. I outlined what investors expect to see in an old article “ Adding Slides Does Not Enhance Your Investor Pitch.
It could be that a larger competitor has met with its customers, promising to extend its product line into this very niche. So, do your homework especially well by putting yourself into the minds of your potential customers. If you are raising funds, list “do nothing” as a viable competitor in your slide deck.
Let’s assume you run a Customer Support software company. Do you simply begin by asking, “I’d love to understand what your objectives are in customer support? You need to identify a customer problem and talk about how your solution meets the needs of that problem. Where are your current pains?&#.
It allows investors to come into alignment with customers. Focus relentlessly and passionately on the customer. Bezos asserts that the advantage of being customer focused is that customers are always dissatisfied. Bezos asserts that the advantage of being customer focused is that customers are always dissatisfied.
The first slide was entitled, “Once Upon a Time in Jorts&# as I found an old picture of myself and Jeremy Anticouni (we’ve worked together for 14 years, 3 companies) and sadly, I was wearing a pair of jorts. We talked about “ON IT,&# as a means to responding NOW to every customer request. It was a great day!
But it got me thinking about how often entrepreneurs overplay their PR so I thought I’d try to offer some advice and how to play PR with VCs (or more broadly with customers or business development partners). Put up your slide with the 5-6 logos of journals that have covered you. And only go back if you’re asked to.
As startup entrepreneurs we all want to work with them because having their name as reference clients makes it so much easier for marketing, PR, selling to other customers, fund raising and even recruiting. Have minimums but a sliding scale. It’s basically an excuse for you to have a regular meeting with your customer.
If you have ten minutes, that means no more than ten slides. I’ve seen several presentations that never moved past the first slide before running out of time. Remember you are pitching to investors, not customers. I outlined what investors expect to see in an old article “ Adding Slides Does Not Enhance Your Investor Pitch.
Packaging, pricing & discounts – In the early days of my first company we always had “list prices&# we quoted to customers and of course we were always willing to negotiate based on who the client was, how important the business was to us, who the competition was and how well the deal was negotiated. I was the laggard.
In the last few years I have seen a popular business model emerging which embodies a greater focus on social and environmental responsibility, and a new requirement for trust and sharing, as well as customer and community collaboration. Customers and team members must be inspired, rather than pushed.
An entrepreneur pitches using a deck with no slide for competition. Your potential customers could choose “do nothing.”. So, do your homework especially well by putting yourself into the minds of your potential customers. If you are raising funds, list “do nothing” as a viable competitor in your slide deck.
Fool A Fool – I sold surgical robots from PowerPoint slides in the early 1990’s, before the robots existed. As such, I understand the degree to which hand waving and vaporware can influence investors and potential customers. An interface that is engaging can fool customers into trying a sub-par product.
There are a million ways to make graphics lighter or resize your file without a huge impact on the quality of the slides?—?after after all you aren’t presenting this at TED. What should be in your deck? What should not be in your deck?
The Innovators Dilemma – which means that if you have large customers with big profit margins it’s impossible to throw that all away to destruct your industry. As per my video, think about the data in the following slide. I described that here in this post. And a Final Note on Whether Silicon Valley Opportunities Remain.
Join JJ Richa in a fireside chat with Scott Fox, CEO of the OC Startup Council, for a discussion of the top mistakes that early stage entrepreneurs make when pitching their startups for funding.
If you have ten minutes, that means no more than ten slides. I’ve seen several presentations that never moved past the first slide before running out of time. Remember you are pitching to investors, not customers. I outlined what investors expect to see in an old article “ Adding Slides Does Not Enhance Your Investor Pitch.
But it turns out that parents who used the site only wanted basic features, like the ability to see a picture of their kids sliding into third base. After your launch, you can improve the business by listening to your customers. Brian suggests taking Guy Kawasakis advice. When you launch, dont worry. Continued.).
Another mistake many consultants make is to charge by the hour, and customers lose track and lose confidence as things change. Results” these days are not PowerPoint slides, or theories and recommendations. Have "customers", not "clients." This is a minor semantic point, but an important one to the customer.
If you have ten minutes, that means no more than ten slides. I’ve seen several presentations that never moved past the first slide before running out of time. Remember you are pitching to investors, not customers. I outlined what investors expect to see in another article “ Adding Slides Does Not Enhance Your Investor Pitch.
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