9 Mistakes Gamers Should Avoid When Raising Money
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9 typical mistakes Gamers (and other founders) do when raising money from VCs and Angel and ow best to avoid them. This is my talk at GAMEIS Conference in Israel, We went over 1. Mistakes you should avoid when preparing to start raising money (Setting the right mindset) 2. Mistakes you should avoid when approaching investors. 3. Mistakes you should avoid while pitching.
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9 Mistakes Gamers Should Avoid When Raising Money
- 1. How to get investors to throw money @you @fogeldavid
- 2. 9 Mistakes Gamers Should Avoid when Raising Money
- 3. 4 years 5 years 4 years David Fogel Page 3
- 4. Not Going to Talk about
- 5. Going to Talk about
- 7. GOOD NEWS
- 8. Don‘t need Lots of money to Create Great Games
- 9. BAD NEWS
- 10. Don‘t need Lots of money to Create Great Games
- 12. Come Prepared
- 13. 3 Mindset Mistakes You Should Avoid
- 14. What Will Make Investors Like You More?
- 15. A Clone of a really Good Game
- 20. #1 Your Audience
- 22. #1 Making Money
- 24. #1 #1
- 28. #2
- 31. #2
- 32. #2
- 33. #2
- 36. #2 Now What?
- 37. #2 Platform
- 38. #2 Portfolio
- 43. #3
- 44. #3
- 45. #3
- 48. After 2 Meetings ….
- 51. #4 There is Always That 1 Guy….
- 52. #4 Long Journey
- 53. How Much Money Do You Need?
- 54. You‘re Like
- 58. #5 12 Months?
- 59. Why Raise Money?
- 60. To Develop A Cool Game
- 61. #6 Giving Wrong Reasons to Raise Money
- 64. #6 Grow Faster
- 66. #6 All Together = Win
- 67. 3 Mistakes You Should Avoid When Pitching Your Game
- 68. The TEAM
- 71. #7 Value in A Diverse Team
- 72. #7 Don’t Be THIS Guy
- 73. #7 It’s about Sharing the Risk
- 74. #9 Advertisement is Your Business Model Business Model?
- 76. Say Advertising One More Time MotherF&%$R!
- 77. #8 Advertising is The Solution To Everything
- 78. #8 You Keep Using That Word I don’t think it means what you think it means
- 80. #8 What?! Only 10 DAU!? It Can‘t Be
- 84. #9 Registered
- 85. #9 Downloaded
- 86. #9 Take a Sit
- 87. #9 Engagement
- 88. #9 Viral
- 92. #2 So… What were we talking about?
- 93. #1 Know Your Audience #2 Pitch PPT #3 Choose Investors that bring Value
- 94. #4 Raising Capital takes time #5 Ask for money to Execute #6 Raise for Good Reasons
- 95. #7 It’s All About The Team #8 Advertising is not a magic solution #9 Avoid Vanity KPIs
- 97. Please Be carful Games can corrupt the minds of Children Angry Birds The Truth Behind The Legend
Notas del editor
- How to get investors to throw money @you
- Or.. 9 Mistakes Gamers Should Avoid when Raising Money
- About me
- Not Going to talk about bootstrapping and crowd founding
- Going to talk about – approaching angel Investors
- And VCs
- Good News
- You Don‘t need a lot of money to Create Great Games
- Bad News
- You Don‘t need a lot of money to Create Great Games
- But what does it mean for you
- You need to come prepared
- 3 Mindset Mistakes You Should Avoid
- What Will Make Investors Like You More?
- A Clone of a really Good Game
- Or the coolest game EVER
- ?
- Mistake #1 not knowing your audience
- Not Your Audience
- Your Audience are the suit and tie guys
- and they are interested in 1 thing
- Making Money
- between 1997-2012 VC invested ~$10bn in Games
- it made them $44bn
- Your #1 jobis
- To show them the money
- Mistake #2 Pitching The Hit Game
- It‘s not about saying we will be the next Angry Birds
- Since you cannot predict the engagement of the users with the game
- Wouldyouinvest in a movie
- That featured Angelina Jolie, Colin Farrell and Directed by Oliver Stone?
- Alexander, Investment around $155m
- Lost to investors around $76m
- Rovio had 51 tittles before Angry birds. Putting all your eggs in 1 basket (game) is a big risk
- Investors Hate Big Risks
- So nowwhat?
- Platform – the game is a way to develop your platform
- Portfolio – You know how to develop good IPs
- Technology – you bring something unseen to the table and your using the game to do it
- How do you choose your investor?
- The one that gives me money! Mistake #3 Choosing the wrong investors
- Splitting from an investor is more difficult then getting a divorce
- You need to choose investors that bring you value
- Value does not equal money
- Value equals Experience and a network in your industry
- So meet investors early and talk to them and to their portfolio companies
- 3 Mistakes You Should Avoid When Approaching Investors
- Entrepreneurs think that after meeting 2 investors they will get money
- Mistake #4 It‘s not a sprint it‘s a marathon
- The Average capital raise takes 6 months (no matter if you raise $250k or $2m)
- But there is always that 1 guy we hear about ….
- So plan for a long journey – team, product/game and money
- Howmuchmoney will youneed?
- You‘re Like – I GOT the EXIT!!!!
- Mistake #5 Asking for too much money ( and delivering too little)
- What they are really asking is – “What is The smallest Sum of Money to Execute the plan you just showed me”
- “What is The smallest sum of money to reach your Milestones”
- An educated guess – the money you need to execute the next 12 months
- Why do you want to raise money
- To Develop A Cool Game
- Mistake #6 Giving Wrong Reasons to Raise Money
- It‘s Not About an Adventure With Friends
- A good reason is to hire great people and become profitable
- A good reason is to grow my company faster
- The best reason I‘ve heard of is…
- it‘s all together – and you need to find the best reasons for you
- 3 Mistakes You Should AvoidWhen Pitching Your Game
- So whois on theteam
- I came up with the idea and they are just developing it
- Mistake #7 pitching a 1 man team
- Value in A Diverse Team
- Don’t Be THIS Guy
- The team is about sharing the execution risk by bringing experienced people
- Business Model?
- Bitch Please… We'll Use ADVERTISING
- Say Advertising One More Time - MotherF&%$R!
- Mistake #8 Thinking Advertising is The Solution To Everything
- You Keep Using That Word - I don’t think it means what you think it means
- Advertising works when you already have users
- But what happens if you don‘t?
- How do you show your game is awesome?
- I have 5M (registered users)
- Mistake #9 Presenting Vanity KPIs
- The fact they registered to your game
- Or downloaded it 10m times
- Doesn‘t mean they will use it
- Show Engagement (DAU/MAU)
- Show your K factor
- 2/7and 30 dayretention
- And a strong growing ARPU or ARPDAU
- and if you manage to show all of those you won't need them…
- Please Be carful Games can corrupt the minds of Children