Plano & Simple

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Gwen Parker
5 years ago
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you want to TEXT Submit questions If you can hear me,

2 How to Participate Today Open and close your panel If you want to TALK or PITCH View, select, and test your audio If you want to TEXT Submit questions If you can hear me, please Raise your hand! 2016 Plano & Simple 2

3 Pitch Clinic for YOUR Startup Competition Application Linda S Plano, PhD

4 4 About Linda PhD Stanford, BS MIT Career entrepreneur Experienced manager Business & pitch coach Plano & Simpl e

5 Very special thanks Nicholas, Our Contacts: question Nastazia, Cocoon Modules: full pitch deck Nick, QBRIQ: full application! 5

6 For more info

7 MIT Enterprise Forum of Greece Startup Competition PERFECT PITCH FOR YOUR APPLICATION 7

8 Perfect Pitch Philosophy: Why Pitch? Get the Next Meeting Get the Next Meeting GET THE NEXT MEETING! Get to the next round Get to the next round GET TO THE NEXT ROUND! 8

9 For Perfect Pitch Fear Commitment to startup Commitment to accelerator Coachability Realistic value proposition Scalability in Greece Scalability in EU and beyond Greed 9

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11 Application = Pitching Application 7. Website 8. Elevator pitch (Twitter) 9. Elevator pitch (Full) Uploads & links Personal statement Executive summary (1-2 page PDF) Required: Video (1 3 minutes) Optional: LinkedIn profile for each member of the management team Written Elevator pitches (140 and 500 characters) Application (500 characters!) Executive summary (1 2 pages PDF) Verbal/ Images Semifinals Finals Digital Video Website 11

12 Who cares???? 12

13 10 (Plano &) Simple Questions Every Pitch Should Answer 1. Who cares? 2. What do you do (in language I can understand)? 3. Why will you win? 4. How will you stay ahead? 5. Does it work? 6. How will you make money? 7. How much will you make? 8. Why you? 9. What will you do? 10. How much will it cost? 13

14 10 (Plano &) Simple Questions Every Pitch Should Answer 1. Who cares? 11. Please describe the problem 16. What is your target market? 17. What is its current size? 18. What is its estimated annual growth? 19. Who are your target customers? 21. In USD, what is your estimated total addressable market? 2. What do you do? 12. Briefly provide a summary of your solution to the problem 20. How have you assessed demand for your product? 3. Why will you win? 13. What is your competitive advantage? 22. Who are your competitors? 4. How will you stay ahead? 14. How long can you maintain your advantage? How? 15. Do you have an intellectual property advantage? 5. Does it work? 6. How will you make money? 23. What is your business model? 24. How will you make money? What is its primary source of revenue? 7. How much will you make? 25. Do you have revenue? How much? 27. What is your timeline for generating revenue after launch? 28. Please provide financial projections 29. What is your timeline for breaking even after launch? 8. Why you? 6. How many FT/PT employees do you have? 10. Please list your advisors & board members 9. What will you do? 30. What are your major challenges? How will you address them? 10.How much will it cost? 5. Has your company received funding? How much? 26. What funding is required to launch and/or grow your company? 14

15 1. Who cares? Customer, market pain & market size Application Questions Fear Greed 11. Please describe the problem This is a problem no one cares about People are desperate to solve this 16. What is your target market? You are thinking too big or too small You have focus and a big vision 17. What is its current size? Too small to matter Big enough, well segmented 18. What is its estimated annual growth? Looks good now but doesn t have a future Investor can make their numbers 19. Who are your target customers? Your customer doesn t care You know & understand who cares 21. In USD, what is your estimated total addressable market You didn t do your homework You understand your market 15

16 Avoid wasting characters, add specifics and numbers! The result is x% lower revenues. 16

17 Tightrope: Focus vs. opportunity ###, segments 17

18 Τα μάτια σου δεκατέσσερα! Everyone = no one 18

19 People want a great place to live 19

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21 2. What do you do? Solution, secret sauce Application Questions Fear Greed 12. Briefly provide a summary of your solution to the problem 20. How have you assessed demand for your product? It s not innovative or it doesn t solve the problem You don t know your customer It s innovative and solves the problem Your customer has validated your innovation 21

22 Relate solution to problem! 22

23 Customer, customer, customer! 23

24 Fast, affordable and stylish housing 24

25 Fast, affordable and stylish housing 25

26 Slide 1: Modular design Slide 2: Modular expansion 26

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28 3. Why will you win? Competitive advantage Application Questions Fear Greed 13. What is your competitive advantage? You ve got some cool features but not customer benefits 22. Who are your competitors? You don t have competition for bad reasons Your customer really wants your combination of benefits You understand your competition 28

29 Don t let Google undermine your competitive advantage! 29

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31 Competition template NOT REQUIRED Benefit 1 Benefit 2 Benefit 3 Benefit 4 Your Company Competitor 1 Competitor 2 Competitor 3 Competitor 4 31

32 ???? 32

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34 4. How will you stay ahead? Intellectual property status & strategy Application Questions Fear Greed 14. How long can you maintain your advantage? How? 15. Do you have an intellectual property advantage? You think smart and innovative are good enough You are missing a critical piece of value You have a plan for maintaining your advantage You take measures to protect value 34

35 It s not enough to be smart and agile 35

36 5. Does it work? Proof of concept and/or traction Application Questions Fear Greed Proof of Concept It ll never work, at least not at a competitive price It works! 36

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38 6. How will you make money? Business model, including customer acquisition Application Questions Fear Greed 23. What is your business model? You think customers will come to you You understand how your industry works 24. How will you make money? What is its primary source of revenue? No viable sales and marketing strategy to support growth Recurring revenue from rich customers 38

39 Customer acquisition??? 39

40 Typical? Land? Wow! Recurring revenue? Partnerships? 1-time contracts? 40

41 Increase greed: done your homework Increase fear: unfocused! 41

42 7. How much will you make? Financial projections Application Questions Fear Greed 25. Do you have revenue? How much? 27. What is your timeline for generating revenue after launch? 28. Please provide financial projections 29. What is your timeline for breaking even after launch? You will need a lot of money to get to revenue You are wildly unrealistic You are too cautious/aggressive All of the above People are already paying for this innovation You will be earning revenue soon, if not now Investors can make their numbers Aggressive but realistic 42

43 Nicholas asks My main concern is about the revenue-generating questions and the financial projections. If our company is at a very early stage and such projections depend on numerous assumptions how do we address these questions (#27, 28 and 29)? We cannot provide reliable projections at this stage. 43

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46 HR expense IT expense Sales expense G&A expense total expense revenue EBITDA 46

47 8. Why you? Management team Application Questions Fear Greed 6. How many FT/PT employees do you have? 10. Please list your advisors & board members Too high burn rate or not enough support No one believes in you Great balance: just enough of the right people Really smart people believe in you 47

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49 9. What will you do? 10. How much will it cost? Development plan & budget Application Questions Fear Greed 30. What are your major challenges? How will you address them? 5. Has your company received funding? How much? 26. What funding is required to launch and/or grow your company? You don t understand what needs to happen You aren t fundable You want too little or too much You have a focused and aggressive plan to get to your exit Smart people believe in you Investors can make their numbers 49

50 FOCUS Milestones = greed, purchases = fear 50

51 9. What will you do? 10. How much will it cost? Return on Investment (non-financial) Application Questions Fear Greed 31. How do you expect MITEF and the Competition to help? 32. What do you expect to contribute to the local & global community You don t appreciate the value of what you re applying for You will not be part of the community You will leverage the program to great advantage You will be a leader in the community 51

52 Be specific where you can 52

53 Very special thanks Nicholas, Our Contacts: question Nastazia, Cocoon Modules: full pitch deck Nick, QBRIQ: full application! 53

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55 Have more questions? Join Greece Plano & Simple LinkedIn Group 55

56 For more info

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58 GOOD LUCK! 58

Pitch Your Market. What you should know before you pitch. Linda S Plano, PhD

Pitch Your Market. What you should know before you pitch. Linda S Plano, PhD Pitch Your Market What you should know before you pitch Linda S Plano, PhD How to Participate Today Open and close your panel If you want to TALK or PITCH View, select, and test your audio If you want