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This is part of my blog series “ Pitching a VC.&#. 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 following are some tips for the debate style VC meeting. Tips in a debate led VC Meeting.
If you want a very quick primer on all the stuff nobody ever tells you about raising venturecapital check out this video where Mark Jeffrey & I break it down on This Week in VC. All of this is covered in more detail on the TWiVC video above (and much of it is covered in text on this blog on the “ Raising VC &# tab).
I think you can get the gist of it from my presentation although some slides don’t quite tell the full story. VC Funding in a Frothy Market. I don’t know whether they shot video. If they do I’ll post it. See you in the comments section for our debate.
I’ve heard a lot of people question whether there is too much money in venturecapital chasing too few great deals. Others believe that new business models are emerging that could replace venturecapital all together. We’re in a new tech bubble!” some have pronounced.
With VCs my strong suggestion is that you be open & realistic. Leaving your real competitors off of you presentation to a VC is not recommended. The “competition slide&# of your investment deck is such a great opportunity to talk about how you’re positioned (premium product vs. economical product? Harvey Balls.
So part of seeing you with a team is to get a read on team dynamics and believe me all VCs discuss the team dynamics after you leave as in. Here are some guidelines for you – particularly for VC pitch meetings. Assign out slides: The best way to involve your team members is to assign out slides they will own.
As a VC and former entrepreneur let me offer you some advice. Remember that the goal of an email to a VC or an introduction from a trusted mutual connection is simply to get you the meeting. Remember that the goal of an email to a VC or an introduction from a trusted mutual connection is simply to get you the meeting.
We had a special edition of This Week in VentureCapital this week shooting out of the Next New Networks offices in New York. Our guest was Mo Koyfman of Spark Capital. Topics we discussed in the first 45 minutes of the video include: What is VC like in NY? Competitor: Slide. Total raised: $129.0mm.
Steve Blank , January 25, 2010 10 Tips for Adding Game Mechanics to a Non-Gaming Service - ReadWriteStart , September 21, 2010 Startups & VCs: Learn How to Design, Market, & Eat Your Own. - First Principles.
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. 25% of VCs are expressives, like you.
But in my experience as an entrepreneur and now spending my time amongst investors I can generalize that almost all VC investments in early stage technology & Internet investments come down to just four key factors. And VC’s are tough customers. I’ve talked before about how to build long-term relationships with VCs.
Non VC Growth Rounds. The other major trend of 2012–2015 was the entrance of “non VCs” into late-stages of venturecapital , which mostly consisted of hedge funds, mutual funds, corporate investors, sovereign wealth funds and even LPs doing direct deals. VC Infighting. Some called this “buying logos.”
It’s always fun chatting with Jason because he’s knowledgeable about the market, quick on topics and pushes me to talk more about VC / entrepreneur issues. Next Wednesday we’ll have Dana Settle of Greycroft Partners, a New York / LA early-stage venturecapital fund. I’d link to it but it’s behind a paywall.
I am a big believer in VC pitches that the bio slide should come up front. The short answer is that by knowing the key members of the management team the VC firm can quickly identify strengths on your time and know whether you have some competitive advantage in your chose field relative to other people with whom you will compete.
Handling PR with VCs. This is part of my series on How to Raise VC but could equally be filed under Startup Advice more generally. Just notice how many VC emails you get after your TechCrunch article or after you were on stage at TC50. In your VC pitch your PR page should take no longer than 30 seconds – Wait.
This might be a VC meeting but also might just be a sales or biz dev meeting. It’s any meeting where you are in a small room and are being called on to present on some form of overhead slides. The worst behaved will literally never be on the slide you’re presenting. In slides, less is almost always more.
Hire admin / office management after you raise a reasonable size VC round. Ok, well not that pretty since I do my own slides and often at 1am. But my slides are linked above and you can also download from SlideShare. If you need a COO then perhaps you’re not a CEO? It’s all in this deck in a prettier format.
I run a monthly meeting called the VCA that represents the majority of Southern California venturecapital firms. slide 29). 70% of Korean population has Internet speeds > 5mbps (and avg = 15 mbps) – don’t bet that the Koreans won’t innovate on online content (slide 30).
I’m writing this post as part of my series with Advice on Raising VentureCapital but will file it under Sales Tips as well since it applies equally to both scenarios. You’ve found a VC partner or principal who has invited you to the Monday partners’ meeting. Congratulations. Is that OK with you?&#.
I spotted my fellow VC Leo Spiegel (from Mission Ventures) who had spoken previously to the same group and asked about his experiences. They had slides with moving images and music. If you really get nervous and are afraid you’ll forget your lines have one 3X5 cue card in your hands for each slide.
I believe the rise in angel investing is here to stay and the professionalization of this class (aka “super angels&# or “micro VC&# ) is a good thing for the VC industry and for entrepreneurs. Mostly, this segment of the market (like all of VC) is stacked in favor of the few. Unfortunately that’s a myth.
Fool A Fool – I sold surgical robots from PowerPoint slides in the early 1990’s, before the robots existed. The post VC Confessions: I Don’t Really Care About Your Product Demo appeared first on John Greathouse. You can follow John on Twitter: @johngreathouse. Image credit: Shutterstock. Share and Enjoy.
But I guess you could say the same about VC. Stock market declines would bring back dog days of VC. If you want a comprehensive summary of the industry in this era it’s worth a read: VC Ice Age Part 1 – What Happens When a Market Comes to a Standstill? VC Ice Age Part 2 – Why the Market Started Moving Again?
Most of them are completely mundane such as choosing which: bank, office space, 1-year lease vs. 2-year lease, logo, URL, pricing structure or which VC. I said (out loud), “I sure wish that some of the time that went into these PowerPoint slides would have gone into meetings with the COO, CFO or CMO of [Elephant Customer].&#
10 Ways To Be Your Own Boss - A VC : VentureCapital and Technology , June 18, 2010 The folks at Behance and Cool Hunting asked me to talk at their 99% Conference a couple months ago. Personally, I don't like weighty board packs and I do not wish to inflict slide preparation upon anyone. Yes, even bootstrappers.
As per my video, think about the data in the following slide. I remember a discussion with an older VC who told me that in the early 90′s they wondered whether the VC industry had a future. That’s why I say, “ It’s Morning in VC & the Startup World. The future certainly looks brighter to me.
I know all of this because every VC knows this because we’ve all either funded companies that have marketing technology or we’ve seen a pitch with a company that does this. If you haven’t read the other VC fund-raising posts I’ve done as part of this series you can find the whole outline and this first in the series here.]
Send me in a corner to work on slides, graphs, spreadsheets and charts. I talked with a few VCs and batted around the idea of becoming a VC. No prizes for guessing how my VC chats went. But you don’t really have VC experience.” How can you become a VC unless somebody decides to let you become a VC?
When I give a keynote address, I often start by asking my audience, by raise of hands, to tell me how many are angel or VC investors, and how many are entrepreneurs, how many are service providers such as attorneys. Immediately, I can tell how to orient the explanations behind my pre-cast slides, based upon the response.
One of the interesting things about being a VC is that you often see companies in transition. In a VC business when you raise additional capital you need to “level up” and act the round you are. I have seen many companies raise their first $3 million and still act like a company that has no resources at all.
If you present slide after slide and if this becomes a download of too much information and not enough of a discussion then people’s attention spans wane. The best board meetings are discussions and debates about the business yet many executive teams spent their time wanting to walk through hours of slides on how great they’re doing.
The first was to do a 5 minute “ignite&# presentation – 5 minutes, 15 slides. I did the outline of the 15 slides on the flight over (after a few beers). I tried to visualize how I was going to hit such a precise presentation where you get 20 seconds per slide and then they get auto forwarded.
“Yes&# was given to me by one of my favorite angel investor / seed VC’s to work with – John Greathouse of Rincon Venture Partners and author of the blog InfoChachkie that you should check out because it is filled with great info from a guy who has been a very successful operator. So what are you waiting for?
And this is my chance to give back to all of those people for whom I don’t have enough time in the week for that “15 minute coffee meeting&# that many people wants with a VC. I have my basic slide decks complete but always happy to add, amend or ad-lib. Tags: VC Industry. Hope to see you!
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.
My original thinking from Oct ’09 was, while I didn’t (and still don’t) have a crystal ball I worried that: consumers were over-stretched with debt (and make up 77% of the economy), unemployment would continue to rise, which in turn would drive the stock market south and cut the rate of M&A activity and VC investment even further.
Pitching a VC – As I said in a previous post – the best VC meetings are discussions and not sales pitches. VC’s have a crocodile aversion as much as the next guy. We found some success when we tried D, E, F. Have you guys faced similar experiences in selling?&#.
Even if you have booked an hour with a VC, you should plan to talk only for the first fifteen minutes. 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. Then match your pace to cover all the material.
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 found that most VC’s never gave me any feedback when I was pitching. By “people&# I do not mean the rest of us.
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. If a VC is on 7 boards it becomes impossible to always have board dinners.
.&# It was my investment philosophy that observing teams’ performance over time was far more insightful than reacting to how good of a product demo they do, how good they present Powerpoint slides or how great tech blogs say they are. I call it “focus on basecamp, not the summit.&# Let me explain.
When I give a keynote address, I often start by asking my audience, by raise of hands, to tell me how many of them are angel or VC investors, how many are entrepreneurs, and how many are service providers such as attorneys. Immediately, I can tell how to orient the explanations behind my pre-cast slides, based upon the response.
Upfront immediately wrote a check to back this vision and we later teamed up with their former colleague from Twitter turned VC, Rishi Garg of Mayfield and we’ve stayed quiet on what we were up to. They teamed up to solve this problem and when I heard about their approach it completely resonated with me.
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