Pitch  Decks  In  a  Box  

James  Smits  Partner,  Tigerlabs  

 james@<gerlabs.co  

Wait,  who  the  hell  is  this  guy?  •  I’m  James  Smits!  (@james_smits)  •  Currently:  Partner  at  Tigerlabs  •  Previously:  BD  @  Banyan  Water,  Research  Monkey  @  University  of  Melbourne  and  Princeton  University  

•  Some<mes:  El  Capitan  Capital  (@ElCapCap)  

That’s  me!  In  3D!  

Tigerlabs!  

•  Based  in  Princeton,  NJ  •  Seed  fund  (Tigerlabs  Ventures)  •  Entrepreneurship  center  (coworking  space  +)  •  Ping  pong  (we  play  lots  of  it)  •  And…  we’re  all  about  suppor<ng  YOU!  (the  entrepreneur)  

•  Want  to  know  more?  james@<gerlabs.co  

And  now…  on  to  the  good  stuff!  

Pitch  Decks  In  a  Box  

James  Smits  Partner,  Tigerlabs  

 james@<gerlabs.co  

Defining  some  terms  

•  Pitch  =  en<cing  summa<on  of  your  venture  •  Deck  =  presenta<on  (PowerPoint  is  so…)  •  Elevator  =  ver<cal  transport  equipment  •  Pitch  deck  =  presenta<on  summary  of  venture  •  Elevator  pitch  =  (short)  pitch  in  an  elevator  

•  Therefore:  pitch  deck  ≠  elevator  pitch  

So  this  whole  pitch  deck  thing…  •  Summary  of  your  business  and  opportunity  •  Concise  (15  slides  –  no  more  slides  for  you!)  •  Targeted  audience  (VCs  +  angels)  •  Goal  oriented  ($$$)  •  Show  –  DO  NOT  tell  (woops,  breaking  my  rule)  •  Differen<ate  or  fail  (business  and  life  lesson)  

•  It’s  like  Shark  Tank…  but  not  at  all!  

Knowing  Your  Audience  •  No  one  said  pimpin’  (er,  pitching)  was  easy…    

•  VCs  are  a  tough  crowd  1.  In  the  business  of  saying  “no”  2.  Look  at  thousands  of  companies  every  year  3.  analysts  è  associates  è  principals  è  partners  

•  Do  your  homework  on  the  VC  and/or  firm  –  Investment  thesis?  –  SHOW  YOU’RE  NOT  A  RANDO  –  Porkolio  companies?  –  MAKE  IT  NEW  AND  FRESH  –  Prior  connec<ons?  –  MAKE  IT  PERSONAL  

Structure,  structure,  structure  

1.  The  pitch  2.  The  problem  

3.  YOUR  solu<on  4.  Market  size  

5.  Business  model  ($$$)  

6.  YOUR  advantage  7.  Compe<<ve  analysis  8.  Go  to  market  9.  Team!  10. Fundraising  and  

milestones  

teaser  image  

showcase!  

Teaser  Image  

The  Pitch  •  Comparisons  are  good,  but  differen<ate  •  Up  front,  to  the  point,  concise  

•  Good:  “Your  how-­‐to  guide  for  pitch  decks”  •  Eh:  “It’s  like  the  Pandora  for  pitch  decks”  •  Bad:  “It’s  like  the  pitch  deck  for  pitch  decks”    

The  Problem  (MY  Problem)  

•  MY  problem  not  YOUR  solu<on  

•  To  this  extent…  – What  is  your  problem?  – MAKE  IT  OBVIOUS  – Who  has  this  problem?  – Make  it  relatable    

•  “A  painkiller  not  a  vitamin”  –  McClure  

OBVIOUS  PROBLEM  

YOUR  Solu<on  •  Your  product  solves  MY  problems!  •  Why  is  it  beuer  and  different?  •  Showcase  your  product  – Real  (sweet)  screenshots  –  walk  me  through  the  look,  feel,  AND  func<onality  

– Live  demos?  Don’t  do  them  

Market  SIZE  •  “The  market  is  $X,  I  want  to  capture  Y%”  

•  BIG  NUMBERS  or  there  is  no  opportunity  

•  But  how  do  you  figure  it  out?  – Top  down  (someone  else  reported  it)  – Bouoms  up  (“Case  In  Point”)  – Compe<tors  can  be  your  best  resource  – Show  what  it  actually  is,  not  just  some  number  

Business  Model  ($$$)  

•  Outline  1-­‐3  sources  of  revenue  – Priori<ze  by  realism  and  size/poten<al  

•  Common  revenue  models  – Direct:  e-­‐commerce,  subscrip<on,  digital  goods  –  Indirect:  adver<sing,  lead  gen,  affiliate  

“straight  cash  homie”  

Your  Advantage  

•  It’s  either  your  technology  or  it’s  your  exper9se  

•  Your  audience  LOVES  unfair  advantages  – BIG  market  lead  – Experienced  team  – “superior”  technology  

ADVANTAGE  

Compe<<ve  Analysis  

•  Thousands  of  pitch  decks  –  what’s  so  special?  

•  Understanding  your  compe<tors  is  essen<al  –  Iden<fying  your  unique  differen<ator  – List  ALL  of  your  compe<tors  (if  you  don’t,  they  will)  – Beuer  and  different  

•  If  not  beuer  or  different?  Think  again!  – “niche  to  win”  

Beuer  and  different  (up  and  to  the  right)*  

ping  pong  

lawn  bowling  

awesomeness  not  

awesomeness  

(obvi)  

*kidding!  we  love  you  all!  

Go  To  Market  •  How  do  you  get  customers  and  distribu<on?  

•  Lots  of  ways,  choose  a  few  –  PR,  contests,  BD,  direct  marke<ng,  SEO,  referral,  affiliate,  bloggers,  e-­‐mail  

–  Virality  is  a  cruel  mistress  (don’t  rely  on  it!)  

•  Get  in  to  the  numbers  1.  Volume  2.  Cost  3.  Conversion  

Team!  •  The  idea  is  a  commodity  •  Are  you  the  team  that’s  going  to  #WIN?  

Team!  (more)  •  Describe  your  team  (convincingly)  

•  Things  that  can  never  (ever)  hurt…  1.  This  isn’t  your  first  rodeo!  2.  Domain  experience  3.  Exits?  Successes?  Big  deal?  4.  Building,  building,  building!  5.  Nerds,  entrepreneurs,  hustlers  

Fundraising  and  Milestones  •  Raising  $X  (note?  priced?  valua<on?)  – Use  of  proceeds:  hires,  marke<ng  and  sales,  opera<ons  and  infrastructure  

– Focus  on  product,  customers,  and  scale  

•  Milestones:  past,  present,  and  future!  

Total  Series  B  =  $X  

Raising  Raised  

$Z  $Y   WOAH!  

And,  a|er  all  that…  $$$!!!  

Recap  and  Closing  Notes  

•  Pitch  deck  =  (concise)  presenta<on  summary  of  a  venture  (preferably  yours)  

•  “Less  is  more”  –  Mies  van  der  Rohe  

•  Differen<ate  or  fail  

•  Financials?  What  financials?  

•  PRACTICE,  PRACTICE,  PRACTICE  

I’m  not  a  genius  (that’s  what  you’re  for!)  

•  Pieces  of  this  lecture  were  drawn  from…  

– Dave  McClure  (500  Startups):  “How  to  Pitch  a  VC”    

– Ryan  Spoon  (Polaris  Ventures):  “How  to  Create  an  Early  Stage  Pitch  Deck”  

 

– The  trial  and  error  of  the  Tigerlabs  porkolio  

That’s  all,  folks!  

Ques<ons?  Comments?  Bones  to  pick?james@<gerlabs.co  

 Oh  yeah…  follow  me!  

@james_smits