Last night I was lucky enough to sit in on the inaugural Innovation Bay Melbourne Angel Dinner.
I watched as five entrepreneurs got up in front of investors, pitching for their next round of funding. It was also Jodie’s first night hosting an Innovation Bay Angel Dinner. With many more events lined up in the future.
Credit to everyone for baring their souls, sharing their vision and doing one of the hardest things – asking other people for money for their business or in front of an astute crowd.
I saw pitches with video, pitches with live demo’s, some with 20 slides, some with large images that crashed powerpoint.
Here’s a great resource from Guy Kawasaki called The Only 10 Slides You Need in Your Pitch.
Kawasaki suggests using this format for pitches of 10 minutes length but I’ve found the format is just as effective for 3, 5, or 10 minute pitches. You just have to trim the fat!
The order and content of the slides goes like this:
Provide company name, your name and title, address, email and cell number
Describe the pain that you’re alleviating or the pleasure you’re providing.
3. VALUE PROPOSITION
Explain the value of the pain you alleviate or the value of the pleasure you provide.
4. UNDERLYING MAGIC
Describe the technology, secret sauce, or magic behind your product. The less text and the more diagrams, schematics and flowcharts the better. If you have a prototype or demo, this is the time to transition to it.
5. BUSINESS MODEL
Explain who has your money temporarily in his pocket and how you’re going to get it into yours.
6. GO-TO-MARKET PLAN
Explain how you are going to reach your customer without breaking the bank.
7. COMPETITIVE ANALYSIS
Provide a complete view of the competitive landscape. Too much is better than too little.
8. MANAGEMENT TEAM
Describe the key players of your management team, board of directors, and board of advisors, as well as your major investors. It’s ok to have less than a perfect team. If your team was perfect, you wouldn’t need to be pitching.
9. FINANCIAL PROJECTIONS AND KEY METRICS
Provide a three-year forecast containing not only dollars but also key metrics, such as number of customers and conversion rate. Do a bottom-up forecast, not top down.
10. CURRENT STATUS, ACCOMPLISHMENTS TO DATE, TIMELINE AND USE OF FUNDS
Explain the current status of your product, what the future future looks like and how you will use the money you’re trying to raise.
Feel free to copy and paste into powerpoint or keynote.
Pitch away and good luck in raising a million!