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The technology team disagrees on direction and wants resolutions. Your head of sales thinks she should fire somebody. You’re sales person is getting blocked by the CTO who says she shouldn’t go above him but the CTO isn’t approving the deal. You need to decide whether or not to launch at TechCrunch50.
David encourages entrepreneurs to stay away from the big tech firms (such as Google, Facebook, Microsoft, Apple) because they are hard to compete with. I believe entrepreneurs should, in David’s words, “build big businesses on the outskirts” but I don’t believe that Silicon Valley tech giants will outmaneuver startups.
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.
Let’s review all of our existing investments. I show charts on housing, structural unemployment, home equity re-financings that we spent meaning less spending power post crash, new housing sales, debt-to-income ratios, public-sector job problems that will cause crises in cities and states across the US. We need some visibility.
Our sales guys were on the front line and heard what they needed to win deals. some came from our customer service, some were to improve performance / scalability from tech ops, some were bug fixes, etc.) But he didn’t grow up with technology. I rarely see the tech team do this. But they went one step further.
Fool A Fool – I sold surgical robots from PowerPoint slides in the early 1990’s, before the robots existed. Sales Mode – Demos intrinsically cause Founders to launch into sales mode. In contrast, we value entrepreneurs' time and thus our diligence generally includes introducing them to potential customers and partners.
Before booking a hotel I always check out Trip Advisor and read reviews. It’s hard for angels to assess whether or not to invest because they often have day jobs and can’t commit to the kind of duediligence that most VCs go through. When I want to go to restaurants I check out Zagat and Yelp.
It eventually closed at 11,204 in April ’10 before sliding back around 10,000 as I sit here and type. Here talking about lithium-ion batteries and the early lead we’ve squandered in that market: “ With some technologies, both scaling and innovation take place overseas. Such is the case with advanced batteries.
When I need to give a speech and I’m writing a slide for my deck, I think up the story in my mind that I’m going to tell for this slide. I want to know how many people, their level of tech sophistication, their age and their interests. I literally imagine myself on stage saying the words. So I thought I would.
How Most Board Meeting Prep Works I’ve been sitting on tech boards for two decades so I have some experience with what goes wrong. 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. There are too many pages.
Thus, I’m more impressed with entrepreneurs who ask me to review their implementation plan, rather than listen again to their idea. Some dreams sound great, but may not yet be viable or proven with today’s technology. Present at trade shows and network with your ten-slide pitch to build your following.
Truth be told, your only path to some serious funding is perseverance and diligence in getting meetings and being prepared. To help you crush your next investor meeting, we asked top VCs and tech leaders to share their best pitch advice. Try to keep the presentation tight, 10 slides is ideal,” Gruber said. Know Your Stuff.
This is often management’s fault because a long-deck plus financials that arrive the night before a board meeting don’t allow for directors to properly review them. If I see tons of “update slides” and know that we don’t have an important board decision I might just bite my tongue. Materials should always be 72 hours in advance.
controlling your psychology ) you no doubt have heard me say that raising capital is a sales & marketing process. Building models to evaluate the deal and/or reviewing customer files, company financials, business plans, etc. This is Sales 101.
The New York Times recently ran an article titled, “ Tech Companies Leave Phone Calls Behind.” Tech Companies most certainly do take calls. Tech Companies & Calls: I once read a quote on Twitter that said, If you use a tech service for free then product is you. But this article missed the real trend.
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. We have also been very busy with our next release, which is due out by December 11th (but I’ll save that for a different post). Slides, please.” My blog was wiped out. I was wrong.
Your sales team is pounding the table because engineering won’t ship new features fast enough. Marketing wants the sales teams to use the materials they’ve produced. The way “being loved&# manifests itself is that as a CEO you build a great team beneath you each with great ideas and big career ambitions.
The week before your meeting 2 people need to cancel due to travel conflicts. So one of your sales pitches to them to join is the other people you have on board (or are approaching). It’s OK to have the advisor slide where you glance quickly over the names. Just don’t lay it on thick. Others must echo my experiences.
In most cases, these applicants for equity funding must be rooted in technology to apply to this limited discussion. You will have to hone your story well, down to fifteen minutes and perhaps fifteen slides in your presentation. Friends and family investors. This class of investor typically writes checks from $50,000 to $250,000.
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.
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