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2018.01.15 (W03)
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1.PERSONAL GROWTH
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2.BUSINESS
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* La Historia de los Relojes de Lujo más Conocidos del Mundo - Caso ROLEX - YouTube | https://www.youtube.com/watch?v=fGXtYqEiwgY
1. 3 patas
2. Marca fuerte = barrer ade entrada de competidores (como luchar contra ualcomm?)
3. Aportar valor - Como le vamos a apaortar valor. ala persona qu epitcheamos?
* What are things that annoy you when entrepreneurs pitch to you Angels/VC? - Quora | https://www.quora.com/What-are-things-that-annoy-you-when-entrepreneurs-pitch-to-you-Angels-VC
https://www.angelcapitalassociation.org/blog/tell-me-more-three-steps-to-an-effective-elevator-pitch/
GROW VS PROFITS (Excell)
- Avoiding The 9 Worst Pitching Thin Spots
Explaining Your Market Moment - To be credible, your pitch must answer the “why you, why now? ---> market situation, tech advantage
Detailing Your Go-To-Market - ---> Ally with the uni + Be know (marketing + youtube) + contact meet everyone???
Assuming Fast Consumer Behavior Change - "delusional economics ---> explain buying cycle
Paying Insufficient Attention to Buying Priorities - buying your product is a top priority. ---> it will be standart
Omitting Marketing Skills ---> We will get ... Carlo
Building a Realistic Model ---> Make good excell
Assuming It Will Translate - next customer segment will not be as easy ---> Put more money for next phases
Engineering a Sustainable Competitive Advantage ---> Patent + Roadmap of next steps
Failing to Think Exit Scenarios Through ---> Sell the IP, the closer to the chaep more money they will pay (all big companies, diferent uses)
- 25 Mistakes To Avoid When Pitching Investors
Managing Your Audience
copy of the presentation guidelines
Do some research and networking + Champions
Review the preferences and portfolios of the investors
No sign a Non-Disclosure Agreement (NDA
Managing Your Material
25 words - crisply explain what your company does in less than 25 words and
50 word - state your value proposition in less than 50
Create a mental picture - passion is contagious. Transmit yours with an image, metaphor or analogy ---> IONDROID makes any phone a tesla (pure power and battery)
Tell the story - the experience, your key question and how your idea improves the current experience ---> Shitty espiriencien with 600$ phone, study everything, new ai tek
Connect the dots to the opportunity - customers that benefit from your idea, why they will pay for the improvement ---> the fist to be different, the rest natural adoption
Post-Pitch Questions - Prepare a few open-ended questions in advance
Build a tight, clean deck + no animation + 10 deck
engage your listener with your story ---> Pitch anything
simple demo or screenshot ---> Scrreenshot (weather)
don't guess an answer unless you say you are guessing -> explain the basis for your guess
Don't over-promise
Don't present numbers that you have not sanity-checked
Avoid presenting numbers you cannot account for or explain how you arrived at. ---> IDC +
Managing Yourself
Dont rush, build your story on a foundation -
Practise
Use your allocated time
Listen carefully to the full question (Repeat it if necessary to ensure you got it right)
A sense of humor is great, but avoid being flip, cocky
Never preface an answer with the reminder that "you are not a business person."
Don't mumble
Body language matters: smile and show some passion
smile while a question is being asked + difficult question = good question
Don't be offended or take questions personally
Don't rebut or argue with questions - EDUCATE
"
Christopher Mirabile, Active angel, start-up founder, Chair of Angel Capital Association
Answered Jan 15
Thanks for the A2A. Two main categories of issues: content thin spots and pitching mistakes. Here’s what I mean:
Avoiding The 9 Worst Pitching Thin Spots
Assuming you have mastered the mechanics, flow, and choreography of your pitch, and you have a business that is fundable, and you know how to deliver the pitch and get through the filters investors apply, what is left to go wrong? Failing to go deep enough into certain essential areas. Shallow skimming in these difficult areas is so common some of the summary expressions entrepreneurs use have become cliches. There's no reason to fall into that trap; we know nobody wants to dive into a shallow pool. So let's go through these all-too-frequently short-changed items one at a time.
Explaining Your Market Moment
To be credible, your pitch must answer the “why you, why now?” questions which provide context for the business. What has changed in the universe that makes this business suddenly not only possible, but a great idea? Why are you the gal or guy to do it?
Detailing Your Go-To-Market
You have to be specific about how you are going to crack your market. Selling is really hard, especially to certain types of customers. You are going to need to convince people that you have a very specific and detailed plan or business model innovation that is going to allow you to acquire your intended customers affordably (relative to their lifetime value).
Assuming Fast Consumer Behavior Change
Making assumptions about how your customers' behavior is magically going to change has been referred to as "delusional economics." After the few early adopters, mainstream customers have incredible inertia. The power of the status quo can be immense. The arrival of the internet/wireless/mobile is not going to suspend the laws of physics and gravity in your industry. It is not safe to assume that if you build a more efficient clearinghouse / marketplace / trading platform / matching service, everyone’s behavior will instantly and automatically change. Convincing customers to buy from you is going to be hard and expensive. You need to explain what secret sauce makes it less hard.
Paying Insufficient Attention to Buying Priorities
Certainly someone will want your product. Unfortunately, your immediate addressable market is limited to the people for whom buying your product is a top priority. How many of them are there? Although a lot of businesses identify a real, legitimate problem for customers, they still fail because other higher priority problems gobble up customer wallet share.
Omitting Marketing Skills
When talking about your go-to-market, you either need to convince investors that you have the marketing experience on the team, OR that you know you don't and you plan to go get it. Everyone thinks they know how to market. Most don't. Identify the marketers who can help you.
Building a Realistic Model
Most entrepreneurs totally underestimate what it will cost to achieve success. Investors have seen and experienced many business models and know it is always harder, takes longer and costs more than anticipated. It is crucial to really think through the necessary people, time and financial resources required, and to come prepared with a realistic plan. Use both a bottom-up and a top-down approach. Then sanity check it against benchmarks. Underestimating costs and showing an improbably fast time to big revenue and profitability doesn't impress people with your model – it impresses them with your naivete.
Assuming It Will Translate
Even if you can paint a credible case for your initial target market, don't assume that the next vertical, next geography or next customer segment will be as easy. Logic dictates that you are starting in the easiest place. By definition, any expansion will be harder and farther out of your comfort zone and experience base. Be realistic about your expansion assumptions. Yes, your brand and momentum will help a little, but no where near as much as you think. (See: Build a Realistic Model).
Engineering a Sustainable Competitive Advantage
Even if you can fight to win a segment, if you cannot make any money at it over the long-haul, you've still lost. Too many entrepreneurs talk as if their market is standing still, when, in fact, any market worth tackling will always be evolving and growing more competitive. It is critical to talk about how you will defend your position, your pricing, and your margins against the inevitable competitive reactions. It might be intellectual property, it might be some kind of tolerable customer lock-in or switching cost, it might be a product roadmap that keeps your value prop more compelling over time. Whatever it is, you need to explain it, and the explanation needs to be believable.
Failing to Think Exit Scenarios Through
Most entrepreneurs don't think through their exit strategy adequately. If you succeed, who buys you? Ultimately this is the bottom-line for investors. Equity from investors is like a loan that the buyer of your company pays back. You need to talk in detail about the different classes of buyers, why they would buy you, what they would value you for, what kinds of multiples they might be expected to pay, and what milestones you need to hit to command those prices.
It is not easy to step back and look at your story objectively enough to spot where it is thin. But there are a few critical big picture elements that you cannot afford to blow past. Covering the above topics adequately is going to be the key to convincing investors that your company and team is one that just might reach exit velocity and escape rather than fall back out of orbit and burn up on the way down.
25 Mistakes To Avoid When Pitching Investors
You finally have your chance to pitch some investors. Your business concept may be solid. But are you aware that there are at least 25 otherways you might shoot yourself in the foot? Avoid them all with this checklist, segmented into three sections from easiest to hardest.
Managing Your Audience
There is some basic legwork required before you show up to pitch. It is not hard, it is just work to complete before you walk into the room:
Make sure you have a copy of the presentation guidelines, preferences and investor customs of the group you are pitching. Make sure to respect and follow them.
Do some research and networking to make sure there is at least one, if not several, fans or "champions" in the room. Champions can lend you their credibility and bail you out during the post-pitch discussions.
Review the preferences and portfolios of the investors--target your pitch accordingly. If there is no fit at all, spare yourself the bother.
Don't ask investors to sign a Non-Disclosure Agreement (NDA)--investors don't sign NDAs and they are not interested in stealing your great business idea. For truly sensitive patentable information, file a provisional patent application before raising money.
Managing Your Material
Unsuspecting entrepreneurs often make rookie mistakes with their material. Preparation and polish is all that is required.
Never stand up to pitch an investor if you cannot crisply explain what your company does in less than 25 words and state your value proposition in less than 50 (Here are some tips on packing that value prop into a moving elevator pitch).
Build a tight, clean deck -- don't use more than a handful or words on any one slide, don't use small font sizes, forget to label your axes, or use huge tables of numbers.
Avoid elaborate slide builds or animations that make it impossible to go backwards or ad-lib. Plus, complicated slideshow features can be buggy and introduce embarrassing glitches that throw you off balance.
Don't jump right into the middle--set some ground work to engage your listener with your story.
Do not rely on a complicated demo or video as part of your pitch--a simple demo or screenshot is all you have time for.
If you don't know the answer to a question, don't guess, unless you say you are guessing, and you explain the basis for your guess.
Don't over-promise or make super-human claims. Focus on what you are pretty sure you can do, not what you think you maybe you can do. Investors can smell B.S. a mile away.
Don't bring a massive, overly long slide deck--boil it down like maple syrup, to the 10-15 key slides and throw the rest into an appendix.
Don't present numbers that you have not sanity-checked with both a bottoms-up and a top-down analysis. Benchmarks are your friend--use them. Hate to break it to you, but you are unlikely to have revenue of $10M per employee.
Avoid presenting numbers you cannot account for or explain how you arrived at. Even if you are not the numbers person on your team, you need to understand them all.
Managing Yourself
Often the person doing the pitch is her own worst enemy. Even if your deck is great, and the underlying story is compelling, it is easy to mess up the delivery.
Even if you are worried about time, don't nervously rush through your early slides. It is essential to build your story on a foundation and let people acclimate to you and your idea. If you lose them early on, you will never get them back.
Don't go in unpracticed, relying on notes or index cards, or simply reading your slides. Failing to practice is not a perception you want to create.
Don't run over your allotted time (nor should you mess up your team choreography).
Listen carefully to the full question, and answer what is actually being asked. Repeat it if necessary to ensure you got it right.
A sense of humor is great, but avoid being flip, cocky or glib in your presentation. Sorry, but these people don't know you well enough to get your sense of humor.
Never preface an answer with the reminder that "you are not a business person."
Don't mumble, whisper or equivocate; it is essential to project your voice powerfully and to be strong and confident (practice until you at least appear strong and confident).
Body language matters: smile and show some passion for what you are doing.
In particular, don't forget to smile while a question is being asked and consider adopting the habit of saying "that's a good question" on the tough ones.
Don't be offended or take a persistent line of questions personally. It is your fault if they don't understand what you are trying to say.
Don't rebut or argue with questions. The point is not to prove them wrong, it is to educate them on your opportunity. You win by educating them to your view.
Pitching is hard to master. It requires some practice. But if you take the time to do some prep work by mastering the list above, you can avoid including basic mistakes into the mix.
"
"
Profits. Talk of profits, overestimated profits, the failure to understand that investors make money on growth, not profits; startups with high growth rates are rarely profitable; profits in high-growth startups stunt growth and reduce the odds of successful exit. That’s why you need to spend other people’s money, right?
---> GROW VS PROFITS (Excell)
“I don’t need no stinking projections.”
Expecting me to believe your numbers.
Discounted cash flow. IRR and NPV
The annoying myth that nobody reads business plans
Knowing everything.
I don’t want people who get all defensive when challenged.
The small piece of a huge market
Oversharing the science or technology
Not needing the money.
(bonus point) The way overused stock phrases that have been diluted to meaningless
"
* How do you know if your tech startup idea is good or not?
IF AND ONLY IF you deliver the right amount of VALUE that your customers want enough to be willing to open their wallets and give you money in exchange of your delivered VALUE!
Don’t analyze only the idea of your product or market. Focus on the overall VALUE that the product or service delivers!
Execution is the second obstacle to tackle in your journey to achieve success!
Consumers do not buy what you sell. They buy what has value to them.
* Bill Gross: La sencilla razón por la que compañías emergentes tienen éxito - TED Talk - TED.com | https://www.ted.com/talks/bill_gross_the_single_biggest_reason_why_startups_succeed?language=es
TIMING
Why startup succeed?
All the forces in the world are not so powerful as an idea whose time has come. -Victor Hugo
Idea
Team
BM
Funding
Timing
Ojo, en todo esto las variaciones pueden ser inmensas: no es lo mismo un equipo que otro, un track record que otro, unos años que otros y un desarrollo de la empresa que otro. Hablo de estándares para el común de los mortales.
Si una startup tiene activos mucho más poderosos, habrá que pagarlos.
Idea
Team
BM
Funding
Timing
All the forces in the world are not so powerful as an idea whose time has come. -Victor Hugo
* ### Other than email lists and social media, how do you start marketing a B2B company?
Title | URL
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Other than email lists and social media, how do you start marketing a B2B company? | https://www.quora.com/Other-than-email-lists-and-social-media-how-do-you-start-marketing-a-B2B-company
How do you know if your tech startup idea is good or not? - Quora | https://www.quora.com/How-do-you-know-if-your-tech-startup-idea-is-good-or-not
What are the best ways B2B lead generation with quality? - Quora | https://www.quora.com/What-are-the-best-ways-B2B-lead-generation-with-quality
What is the most common mistake made when pitching your business to potential investors? - Quora | https://www.quora.com/What-is-the-most-common-mistake-made-when-pitching-your-business-to-potential-investors
5 Top Lead Generation Companies and How to Choose One | http://technologyadvice.com/blog/marketing/lead-generation-companies/
4 B2B Marketing Strategies That Deserve Help from an Agency | http://technologyadvice.com/blog/marketing/4-b2b-marketing-strategies-that-deserve-help-from-an-agency/
B2B Lead Generation Services and Appointment Setting - Callbox | https://www.callboxinc.com/appointment-setting-lead-generation/
Lead Generation Software - B2B List Building Tool - Build Sales & Marketing Prospect Lists Online | https://www.egrabber.com/leadgrabberpro/
Unomy - B2B Sales and Marketing Intelligence – Official Website | https://unomy.com/
Software tools
eMail Prospector
Clickback MAIL
ScopeLeads
Meeting scheduler
Calendr
Email address finders
Prospect.io
Hunter
FindThatLead
Lead411
LeadFuze
Data.com
LeadGrabber Pro
Email automation
Reply
Outreach
SalesLoft
Drip
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