PITCHING
MASTERCLASS
WITH VIDAR ANDERSEN
ONLINE EDITION
PITCHINGMASTERCLASS.COM
MORE
VIDARANDERSEN.COM
VIDAR ANDERSEN
• STARTUP FOUNDER
• EDUCATOR
• INNOVATION ADVISOR
FOUNDING PRINCIPAL
+ANDERSEN & ASS...
YOU
CAN
BOOK
ME
booking@vidarandersen.com
SOME OF THE PEOPLE
I HAVE PITCHED
IN PERSONAROUND THE WORLD
SOME OF THE PLACES
I HAVE BEEN
FEATUREDAROUND THE WORLD
I HAVE
TRAINED
OVER 500
STARTUPS 

HOW TO PITCH
FIRST
THING
FIRST
ASK YOURSELF 

ARE YOU A STARTUP
OR A NEW COMPANY?
A STARTUPIS A
TEMPORARY
ORGANISATION IN
SEARCH OF A SCALABLE
& REPEATABLE BUSINESS
MODEL OPERATING IN
AN ENVIRONMENT OF 

...
A COMPANYIS A
PERMANENT
ORGANISATION
DESIGNED TO EXECUTE A
PROVEN REPEATABLE &
SCALABLE BUSINESS
MODEL IN A PREDICTABLE
AN...
THIS CONTENT IS FOR
STARTUPS
IF YOU ARE A COMPANY
WRITE A BUSINESS PLAN
SO…ARE YOU A STARTUP
OR A COMPANY?
NOW

REPEAT
AFTER ME
INVESTORS DO NOT EXIST
TO GIVE YOU PERMISSION
TO START ANYTHING
OR TO MAKE GOLD
OUT OF YOUR CRAP IDEAS
NOR YOUR SHITTY TEAM
REALITY
AN INVESTMENT IS A
NEXT STEP AFTER
FIRST HAVING DONE
SOME INTERESTING
SHIT ON YOUR OWN
INVESTORS 

ARE COMMODITIES
YOU ARE 

THE PRIZE
SO STOP
SUCKING UP
TO INVESTORS
STARTUP PITCH
COMPETITIONS ARE
SUCCESS THEATRE
BULLSHIT
BUT
WHERE ELSE ARE
YOU GOING TO GET
THE TRAINING
NEVER MISTAKE
PITCH COMPETITIONS
FOR PITCHING
INVESTORS
EVER
RAISING
MONEY?
READ THIS FIRST
http://paulgraham.com/fr.html
TL;DR
THE ONE SINGLE TAKE-AWAY
TL;DR - THE ONE THING
Answer these two simple questions:



“What PROBLEM are you solving & what
SOLUTION do you offer?”

...
GUT CHECK
What PROBLEM do you solve

& HOW are you SOLVING it?
REALITY CHECK
What is the VC investor looking for?
WHAT WE PITCH
Problem / Need, Solution, Market Size,
Goto Market, Team, Competition,
Financials, Ask, BLA BLA BLA ETC
WHAT THE VC HEARS
1. Is there money to be made here?
2. Are these the right people who will
make me money?
3. How much mon...
REALITY CHECK
A VC WILL ONLY INVEST

IF AND ONLY IF

TEAM IS RIGHT &
TOTAL MARKET SIZE IS
BIG ENOUGH TO GROW IN
THREE

TYPES
OF 

PITCHES
THE THREE PITCHES
1.The High-Concept Pitch
2.The Elevator Pitch
3.The Pitch Deck
HIGH-CONCEPT
PITCH
“Summarises the company’s business on the
back of a business card” - Sequoia Capital
HIGH CONCEPT PITCH
Distills a startup’s vision into a single sentence
The “We are the X for Y” pitch
The 140 characters or...
HIGH CONCEPT PITCH
Hollywood has perfected the art of the high
concept pitch: 

“Its Jaws in space!” (Alien)
For startups:...
Be brief: One short sentence
Be familiar: A 6 year old child should
understand the words and concepts in
your pitch
HIGH C...
THE
ELEVATOR
PITCH
30 seconds to sell a captive audience
ELEVATOR PITCH
The major components of the elevator pitch are:



TRACTION, PRODUCT, TEAM 

& SOCIAL PROOF


“An introduct...
ELEVATOR PITCH
A 30 second talk you can present a captive
audience (e.g. when riding in the elevator,
sharing an Uber or a...
ELEVATOR PITCH
Many investors will ignore your deck and
ONLY take a meeting if the introduction and
elevator pitch are goo...
1. TRACTION
“A rolling stone gathers no moss” - show the increasing numbers
Tell all the compelling facts, be it user or r...
2. PRODUCT
What problem are you solving and how are
you solving it?
Where does your product live (web/mobile/
physical)?
W...
3. TEAM
BRAG! - Why are you guys so fucking awesome?
Which relevant things have you done in the past
that makes it believa...
4. SOCIAL PROOF
Show who and what else that you can vouch for you
Sales, customers, interviews, publications, patents, eve...
ELEVATOR PITCH
TRACTION
PRODUCT
TEAM
SOCIAL PROOF
PITCH PROGRESSION
1. A high concept pitch gets people’s
attention, an incentive to let you keep talking
2. An elevator pit...
THE
PITCH
DECK
13 magic slides to a funding decision
BUT 

WAIT
IS YOUR PITCH 

A DATA PITCH 

OR A CONCEPT
PITCH?
DID YOU ALREADY
LAUNCH SOMETHING?
VISION VS FACTS
PRE-LAUNCH SELL THE VISION
LIKE NO TOMORROW - 

IT’S ALL YOU GOT

POST-LAUNCH BE PREPARED
PREPARE TO SHOW YOUR
REAL ACTUAL...
THE PITCH DECK
An introduction and elevator pitch are critical to
getting a meeting
And the pitch deck is what you send in...
DECK CONTENTS
1. 

COVER
2. 

MISSION
3. 

SUMMARY
4. 

TEAM
5. 

PROBLEM
6. 

SOLUTION
7. 

TECH
8. 

MARKETING
9. 

SALE...
COVER

MEMORABLE
COVER
LOGO
TAGLINE
CONTACT DETAILS
30PT FONTS OR HIGHER
MISSION

WHAT YOU ARE
STRIVING TO
ACHIEVE - 

THE WHY & HOW
MISSION
What you will do and how you will do it
Also: What you will NOT do
The thing you are striving to accomplish but ha...
SUMMARY

SH!T WE
HAVE DONE
SUMMARY
Summarise the key, compelling facts of 

the company
You can steal the content from your 

elevator pitch
ONLY thi...
TEAM

BRAG - WHY
YOU ARE SO F*
AWESOME
TEAM
Highlight the past accomplishments of the team, BRAG
If your team has been successful before, investors may believe
i...
PROBLEM
BE QUICK, BE
EMOTIONAL
PROBLEM
Without yet getting into your product or
service, describe the nature of the
problem you address
Emphasise the pai...
SOLUTION

SHOW -
DON’T TELL
SOLUTION
Introduce your product, and the benefits (which
should obviously address and fit the market
problem you just descri...
GOD HELP YOU 

IF YOU HAVE 

NOTHING 

TO SHOW
Solution Presentation Pro Tip:
You have to prepare for any and all eventualities if you are demoing product -
Videos will ...
TECHNOLOGY

HARD FACTS -
WHAT’S UNDER
THE BONNET
TECHNOLOGY
Elaborate on the technology or methodology you
have developed to enable your unique approach
Open Source? Licen...
MARKETING
QUANT -

NO BULLSH!T
PROJECTIONS
MARKETING
Include market size estimates here or in the Problem
If you haven’t launched, discuss your plan to acquire
users...
mint.com acquisition strategy as pitched
SALES
ACTUAL -

NOT BIZ DEV
“NO BUSINESS PLAN
EVER SURVIVES FIRST
CONTACT WITH
CUSTOMER”
STEVE BLANK 

FATHER OF THE LEAN STARTUP
SALES
If you don’t have sales, discuss your business model and
prospective customers, use a Business Model Canvas
(BMC) to...
SPOT CHECK 

UNFAMILIAR
TERMS
Time Out Key Metrics Explained
CAC vs LTV
For each dollar you spend acquiring a
customer, how many dollars does it leave
behind in the whole lifespan you...
CAC vs LTV - The Driving Factors
• High Churn Rate
• Low Customer 

Satisfaction
• Lack Of Stickiness
• Recurring Revenue
...
Growth Rate
“Startups = Growth” by Paul Graham of YC
What is your growth week over week?
More than 7% week over week is gr...
Engagement Rate
“30 / 10 / 1” by Fred “AVC” Wilson
What is the % of all your registered users
that will use the service or...
Cohort Analysis - 

You need to understand it
VIDEO:

Cohort Analytics Explained
VIDEO: 

Google Labs Cohort Analysis Work...
SERIOUSLYYOU NEED TO UNDERSTAND IT
COHORTANALYSIS.COM
Your churn rate is the amount of customers or
subscribers who cut ties with your service or
company during a given time pe...
SaaS Metrics - 

You need to track it
SAAS METRICS



The Ultimate SaaS Metrics Cheat Sheet
Christoph Janz' Blog
David Sko...
SaaS Metrics - 

You must understand it
DEFINITIONS

HTTP://WWW.FORENTREPRENEURS.COM/SAAS-METRICS-2-DEFINITIONS/
SAAS METR...
How to define your market size
TAM - Total Available Market

Theoretical total market size or customer 

mass with problem ...
TAM SAM SOM - Rough Example
Say you want to make a dating app for iOS
Your theoretical TAM would be 1.6b world wide, the n...
How to find market data
Use Google, use Quora, use CB Insights, Crunchbase

Seriously, JFGI: Just F*ing Google It
Find fact...
Business Model Canvas Instead of Biz Plan
Understand how 

your business could

work - or not
Get the book 

“Business Mod...
BACK
TO THE REGULAR
SCHEDULE
Continued The 13 Magic Slides
COMPETITION
THE HONEST
TRUTH
COMPETITION
Describe why users or customers use your product instead of the
competition’s product
Describe any competitive...
EXISTING MARKET
Classic: “Up and to the right”
Quality
Economical
Expensive Discounted
High
Low
CO A
CO B
CO D
MY CO
CO C
...
RE-SEGMENTED MARKET
Product Comparison Matrix
CLONED MARKET
Why and how will
this work here?
Show how you
understand and have
validated the local
needs & differences
NEW MARKET
“Petal Diagram”
MILESTONES

WHEN, WHAT &
WHY - NO
PROJECTIONS
DAVE MCCLURE

SHAMED SEXUAL HARASSER

EX-CEO 500 STARTUPS
SERIOUSLY

NO F*ING
PROJECTIONS
MILESTONES
DO NOT build a detailed financial model if you don’t have past
earnings, a significant financial history, or real ...
Seed-Stage Milestone Tips
As you probably only have a vague problem-solution fit and most likely insignificant product-marke...
CONCLUSION
RINSE, LATHER
& REPEAT
CONCLUSION
This slide can be inspirational, a larger
VISION of what the company could do if
these current plans are realis...
FINANCING
GIVE + ASK
FINANCING
Dates, amounts, and sources of money raised to date
How much money you are raising in this round
How much of you...
ABOVE ALL
TELL A F*ING
STORY
AS YOU WOULD
TO A CHILD
SEQUENCE OF STORY
The sequence of slides tells a story:

“We have a mission and a team that is taking us there. Why? We
di...
PITCHING
MASTERCLASS
WITH VIDAR ANDERSEN
NOW AVAILABLE ONLINE
PITCHINGMASTERCLASS.COM
PITCHING
TRICKS
Bonus Online-Only Material
SLIDE TRICKS
Put IMAGES in the SLIDES and TEXT in the NOTES
Keep the slides simple, VISUAL, and minimal
With 30 point OR L...
REACH THE LIZARD BRAIN
FAST: Get to the point ASAP!
NOVEL: Don’t be boring, do something remarkable,
something TRULY unexp...
BE “STICKY”
Simple: KEEP IT SIMPLE STUPID
Unexpected: Surprise & Delight
Concrete: No ifs & buts, DON’T MAKE ME THINK
Cred...
MAKE PEOPLE UNDERSTAND IT
STORY: Tell a story
SIMILE: Figure of speech involving the comparison of one thing with
another ...
MAKE PEOPLE SHARE IT
Social Currency - We share things that make us look good
Triggers - Top of mind, tip of tongue
Emotio...
VOICE & EXPRESSION
What does people remember and judge you by?
Words 7%
Voice 38%
Facial Expression 55%

93% IS HOW YOU SA...
SO SHOW
SOME F*ING
ENTHUSIASM
BODY LANGUAGE
Be the Tree, feet solidly planted on the ground
Hands to the side, never crossed - EVER!
Don’t swerve, stay ...
STYLE
Don’t be apologetic - EVER! YOU ARE THE AWESOMEST!
Be positive and enthusiastic - You ROCK! You NEVER suck!
Be concr...
TIMING
Practice your pitch until you nail the timing
NEVER EVER go over the time limit. PRACTICE!
Finish slightly before t...
Q&A SESSION
Be in control: Answer questions with whatever answer you like
Paraphrase the question as a question back to th...
NEVER LIE
NEVER EVER
“I DON’T KNOW” IS
THE RIGHT ANSWER
IF YOU DON’T KNOW
“I DON’T KNOW, BUT IF
YOU GIVE ME YOUR
BUSINESS CARD, I
PROMISE TO GET BACK
TO YOU WITH THE
ANSWER BY
TOMORROW”
MORE TRICKS
Acknowledge the audience, own the presence before starting the pitch 

(Watch Bill Clinton speeches on YouTube...
BONUS MATERIAL
• Get the book

"VENTURE DEALS" (Yes, it is
THAT good)
BONUS MATERIAL
Get

“Pitching Hacks”
BONUS MATERIAL
Get the book 

“Startup Owners Manual” 

by Steve Blank & Bob Dorf



All you need to know about
building y...
BUSINESS MODEL CANVAS
Get the book
“Business Model
Generation” to
understand
your Business
Model
VALUE PROPOSITION CANVAS
Watch this video about the
Value Prop Canvas
Then get the Book to
understand your value
propositi...
AIRBNB’S 

VERY FIRST
PITCH DECK
RAISED $ 620K
SEED
$ 3.4 BILLION
TO DATE
STILL THINK
YOU NEED
MORE THAN 13
SLIDES? 

JUST FORGET IT
FURTHER READING
• SaaS Metrics Cheat Sheet:

https://chartmogul.com/blog/2015/01/the-ultimate-saas-metrics-cheat-sheet/
• ...
“WHY WE POLITELY ASK FOR A DECK FIRST” 

BY CHRISTOPH JANZ, POINT9 CAPITAL 

HTTP://CHRISTOPHJANZ.BLOGSPOT.DE/2015/06/WHY-...
PITCHING
MASTERCLASS
WITH VIDAR ANDERSEN
NOW AVAILABLE ONLINE
PITCHINGMASTERCLASS.COM
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)
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Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)

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Publicado en: PYMES y liderazgo, Educación

Startup Pitching Masterclass at Karlsruhe Institute of Technology (KIT)

  1. PITCHING MASTERCLASS WITH VIDAR ANDERSEN ONLINE EDITION PITCHINGMASTERCLASS.COM
  2. MORE VIDARANDERSEN.COM VIDAR ANDERSEN • STARTUP FOUNDER • EDUCATOR • INNOVATION ADVISOR FOUNDING PRINCIPAL +ANDERSEN & ASSOCIATES
  3. YOU CAN BOOK ME booking@vidarandersen.com
  4. SOME OF THE PEOPLE I HAVE PITCHED IN PERSONAROUND THE WORLD
  5. SOME OF THE PLACES I HAVE BEEN FEATUREDAROUND THE WORLD
  6. I HAVE TRAINED OVER 500 STARTUPS 
 HOW TO PITCH
  7. FIRST THING FIRST
  8. ASK YOURSELF 
 ARE YOU A STARTUP OR A NEW COMPANY?
  9. A STARTUPIS A TEMPORARY ORGANISATION IN SEARCH OF A SCALABLE & REPEATABLE BUSINESS MODEL OPERATING IN AN ENVIRONMENT OF 
 EXTREME UNCERTAINTY
  10. A COMPANYIS A PERMANENT ORGANISATION DESIGNED TO EXECUTE A PROVEN REPEATABLE & SCALABLE BUSINESS MODEL IN A PREDICTABLE AND STABLE ENVIRONMENT
  11. THIS CONTENT IS FOR STARTUPS IF YOU ARE A COMPANY WRITE A BUSINESS PLAN
  12. SO…ARE YOU A STARTUP OR A COMPANY?
  13. NOW
 REPEAT AFTER ME
  14. INVESTORS DO NOT EXIST TO GIVE YOU PERMISSION TO START ANYTHING OR TO MAKE GOLD OUT OF YOUR CRAP IDEAS NOR YOUR SHITTY TEAM
  15. REALITY
  16. AN INVESTMENT IS A NEXT STEP AFTER FIRST HAVING DONE SOME INTERESTING SHIT ON YOUR OWN
  17. INVESTORS 
 ARE COMMODITIES YOU ARE 
 THE PRIZE
  18. SO STOP SUCKING UP TO INVESTORS
  19. STARTUP PITCH COMPETITIONS ARE SUCCESS THEATRE BULLSHIT
  20. BUT WHERE ELSE ARE YOU GOING TO GET THE TRAINING
  21. NEVER MISTAKE PITCH COMPETITIONS FOR PITCHING INVESTORS EVER
  22. RAISING MONEY? READ THIS FIRST http://paulgraham.com/fr.html
  23. TL;DR THE ONE SINGLE TAKE-AWAY
  24. TL;DR - THE ONE THING Answer these two simple questions:
 
 “What PROBLEM are you solving & what SOLUTION do you offer?” 
 You must be able to tell this in one or two short sentences AT ALL TIMES - even in your sleep
  25. GUT CHECK What PROBLEM do you solve
 & HOW are you SOLVING it?
  26. REALITY CHECK What is the VC investor looking for?
  27. WHAT WE PITCH Problem / Need, Solution, Market Size, Goto Market, Team, Competition, Financials, Ask, BLA BLA BLA ETC
  28. WHAT THE VC HEARS 1. Is there money to be made here? 2. Are these the right people who will make me money? 3. How much money can we make here (with these people)?
  29. REALITY CHECK A VC WILL ONLY INVEST
 IF AND ONLY IF
 TEAM IS RIGHT & TOTAL MARKET SIZE IS BIG ENOUGH TO GROW IN
  30. THREE
 TYPES OF 
 PITCHES
  31. THE THREE PITCHES 1.The High-Concept Pitch 2.The Elevator Pitch 3.The Pitch Deck
  32. HIGH-CONCEPT PITCH “Summarises the company’s business on the back of a business card” - Sequoia Capital
  33. HIGH CONCEPT PITCH Distills a startup’s vision into a single sentence The “We are the X for Y” pitch The 140 characters or less “twitter pitch” Perfect tool for fans and investors to spread the word about your company
  34. HIGH CONCEPT PITCH Hollywood has perfected the art of the high concept pitch: 
 “Its Jaws in space!” (Alien) For startups: 
 “Friendster for dogs” (Dogster)
 “Flickr for video” (YouTube)
  35. Be brief: One short sentence Be familiar: A 6 year old child should understand the words and concepts in your pitch HIGH CONCEPT PITCH
  36. THE ELEVATOR PITCH 30 seconds to sell a captive audience
  37. ELEVATOR PITCH The major components of the elevator pitch are:
 
 TRACTION, PRODUCT, TEAM 
 & SOCIAL PROOF 
 “An introduction captures an investor’s attention, a great elevator pitch gets a meeting.”
  38. ELEVATOR PITCH A 30 second talk you can present a captive audience (e.g. when riding in the elevator, sharing an Uber or at a cocktail party) Or a short e-mail that a middleman can forward to someone with a recommendation as an introduction for you
  39. ELEVATOR PITCH Many investors will ignore your deck and ONLY take a meeting if the introduction and elevator pitch are good Without an introduction, an elevator pitch is critical to a successful cold e-mail or getting that meeting
  40. 1. TRACTION “A rolling stone gathers no moss” - show the increasing numbers Tell all the compelling facts, be it user or revenue growth, be it publications or awards, advisors secured, event invite - whatever you have achieved in the last period of time Show momentum - no investor wants to waste time on someone who’s been fiddling with an idea for years and has nothing to show for it “Use what you’ve got” and roll it into a compressed story where the compelling facts are on an accelerating curve that goes up and to the right, hockey stick style, for the last 6 months
  41. 2. PRODUCT What problem are you solving and how are you solving it? Where does your product live (web/mobile/ physical)? What is the status of your product? (idea, prototype/MVP, paying customers, etc?)
  42. 3. TEAM BRAG! - Why are you guys so fucking awesome? Which relevant things have you done in the past that makes it believable that you are the right people to make this a success? Convey the feeling that you have all the relevant skills in your team to make this happen (do you?)
  43. 4. SOCIAL PROOF Show who and what else that you can vouch for you Sales, customers, interviews, publications, patents, events, awards, user figures or user testimonials, advisors or board members secured Use what you’ve got to convince people you are not just talking, that this is real and you’ve exposed it to the world The “I am not just another a crazy person with ideas” proof
  44. ELEVATOR PITCH TRACTION PRODUCT TEAM SOCIAL PROOF
  45. PITCH PROGRESSION 1. A high concept pitch gets people’s attention, an incentive to let you keep talking 2. An elevator pitch convinces investors to read your deck 3. A deck sells investors on taking a meeting 4. A meeting will lead to a funding decision
  46. THE PITCH DECK 13 magic slides to a funding decision
  47. BUT 
 WAIT
  48. IS YOUR PITCH 
 A DATA PITCH 
 OR A CONCEPT PITCH?
  49. DID YOU ALREADY LAUNCH SOMETHING? VISION VS FACTS
  50. PRE-LAUNCH SELL THE VISION LIKE NO TOMORROW - 
 IT’S ALL YOU GOT
 POST-LAUNCH BE PREPARED PREPARE TO SHOW YOUR REAL ACTUAL METRICS
  51. THE PITCH DECK An introduction and elevator pitch are critical to getting a meeting And the pitch deck is what you send investors and what you present in that meeting The deck is NOT a Business Plan - SERIOUSLY NEVERsend an investor a business plan - EVER
  52. DECK CONTENTS 1. 
 COVER 2. 
 MISSION 3. 
 SUMMARY 4. 
 TEAM 5. 
 PROBLEM 6. 
 SOLUTION 7. 
 TECH 8. 
 MARKETING 9. 
 SALES 10. 
 COMPETITION 11.
 MILESTONES 12.
 CONCLUSION 13.
 FINANCING
 
 
 

  53. COVER
 MEMORABLE
  54. COVER LOGO TAGLINE CONTACT DETAILS 30PT FONTS OR HIGHER
  55. MISSION
 WHAT YOU ARE STRIVING TO ACHIEVE - 
 THE WHY & HOW
  56. MISSION What you will do and how you will do it Also: What you will NOT do The thing you are striving to accomplish but have yet to complete Optionally: Fill white space with logos of customers and testimonials What will also guide decision making for you e.g. ”Acme Gadgets will create and dominate a new network service category that defends web applications from distributed-denial-of- service attacks."
  57. SUMMARY
 SH!T WE HAVE DONE
  58. SUMMARY Summarise the key, compelling facts of 
 the company You can steal the content from your 
 elevator pitch ONLY things you HAVE DONE, not what you may or may not do in the future
  59. TEAM
 BRAG - WHY YOU ARE SO F* AWESOME
  60. TEAM Highlight the past accomplishments of the team, BRAG If your team has been successful before, investors may believe it will be successful again (although a logical fallacy) Do NOT include positions you intend to fill (save that for the Milestones slide) Tell a story about how your career has led to the discovery of the… Put yourself last in team if you must: it seems humble
  61. PROBLEM BE QUICK, BE EMOTIONAL
  62. PROBLEM Without yet getting into your product or service, describe the nature of the problem you address Emphasise the pain level and the inability of incumbents, the current established players, to satisfy the customer need
  63. SOLUTION
 SHOW - DON’T TELL
  64. SOLUTION Introduce your product, and the benefits (which should obviously address and fit the market problem you just described like hand in glove) SHOW DON’T TELL: Include a demo such as a screencast, a link to working software, or pictures. ONE SLIDE ONLY: This is not your product manual
  65. GOD HELP YOU 
 IF YOU HAVE 
 NOTHING 
 TO SHOW
  66. Solution Presentation Pro Tip: You have to prepare for any and all eventualities if you are demoing product - Videos will stop working, Internet will disappear, and so on ALWAYS have the following prepared in your deck: 1. Live Demo (link out - skip to next slide if not working) 2. Video of pre-recorded Live Demo (skip to next slide if not working) 3. Screenshot sequence of key features in pre-recorded demo (always works) Start with 1 and skip ahead towards 3 if everything fails, LIVE in same presentation Practice the SAME user journey story through your solution for 1, 2 & 3 DO NOT EVER MENTION SOMETHING NOT WORKING - just move on to next option and NO ONE will ever notice that the live demo or video did not work.
  67. TECHNOLOGY
 HARD FACTS - WHAT’S UNDER THE BONNET
  68. TECHNOLOGY Elaborate on the technology or methodology you have developed to enable your unique approach Open Source? Licensed? DIY? Are there hidden costs and liabilities? Is the IP yours or someone else’s? Maintaining your own software is going to be how costly vs using something else? If appropriate, mention patent status
  69. MARKETING QUANT -
 NO BULLSH!T PROJECTIONS
  70. MARKETING Include market size estimates here or in the Problem If you haven’t launched, discuss your plan to acquire users or customers, show the expected cost of customer acquisition If you have launched, include CAC vs CLTV & growth rate and activation rates, if appropriate
  71. mint.com acquisition strategy as pitched
  72. SALES ACTUAL -
 NOT BIZ DEV
  73. “NO BUSINESS PLAN EVER SURVIVES FIRST CONTACT WITH CUSTOMER” STEVE BLANK 
 FATHER OF THE LEAN STARTUP
  74. SALES If you don’t have sales, discuss your business model and prospective customers, use a Business Model Canvas (BMC) to explain it all in one single slide IGNORE the cost of customer acquisition UNLESS you have some insight into the issue IF you have sales, show off early customer or distribution progress: show numbers, logos, testimonials
  75. SPOT CHECK 
 UNFAMILIAR TERMS Time Out Key Metrics Explained
  76. CAC vs LTV For each dollar you spend acquiring a customer, how many dollars does it leave behind in the whole lifespan you have them as a customer? CAC = Customer Acquisition Cost LTV = Customer Lifetime Value A CAC : LTV ratio of 1 : 3 or better = good
  77. CAC vs LTV - The Driving Factors • High Churn Rate • Low Customer 
 Satisfaction • Lack Of Stickiness • Recurring Revenue • Scalable Pricing • Cross-Sell / Up-Sell • Additions To Product
 Catalogue • Lead-Gen For 3Rd Party • Sales Force In The Field • Outbound Marketing • Unoptimised Campaign • Wrong Target Audience • Wrong Channel • No Network Effects • Network Effects • Inbound Marketing • Free Or Freemium • Open Source • Free Trial • Touchless Conversion • Direct Marketing • Channels • Strategic Partnerships CAC LTV
  78. Growth Rate “Startups = Growth” by Paul Graham of YC What is your growth week over week? More than 7% week over week is great
  79. Engagement Rate “30 / 10 / 1” by Fred “AVC” Wilson What is the % of all your registered users that will use the service or app Monthly / Daily / Concurrent (At Any Given Time)? 30/10/1 or better is good
  80. Cohort Analysis - 
 You need to understand it VIDEO:
 Cohort Analytics Explained VIDEO: 
 Google Labs Cohort Analysis Workshop
  81. SERIOUSLYYOU NEED TO UNDERSTAND IT COHORTANALYSIS.COM
  82. Your churn rate is the amount of customers or subscribers who cut ties with your service or company during a given time period. These customers have “churned.” READ http://churn-rate.com Churn Rate
  83. SaaS Metrics - 
 You need to track it SAAS METRICS
 
 The Ultimate SaaS Metrics Cheat Sheet Christoph Janz' Blog David Skok's Blog
  84. SaaS Metrics - 
 You must understand it DEFINITIONS
 HTTP://WWW.FORENTREPRENEURS.COM/SAAS-METRICS-2-DEFINITIONS/ SAAS METRICS 2.0
 HTTP://WWW.FORENTREPRENEURS.COM/SAAS-METRICS-2/
  85. How to define your market size TAM - Total Available Market
 Theoretical total market size or customer 
 mass with problem today SAM - Serviceable Available Market
 Theoretical total market size or customer mass 
 that are able to use / purchase a solution like 
 yours right now SOM - Serviceable Obtainable Market 
 Your target market cap or customer base within 
 the next 2-3 years, your credible ambition TAM SAM SOM
  86. TAM SAM SOM - Rough Example Say you want to make a dating app for iOS Your theoretical TAM would be 1.6b world wide, the number of all adults in the world seeking a partner, the number of people with the actual need or problem Your theoretical SAM is the percentile of 1.6b adults who has an iPhone, not all iPhone users in the world, not all smartphone users in the world, e.g. 1.6b people out of 7b is 14% of all people, your SAM could then be 14% of the 500m iPhones sold worldwide = 70m Your SOM or Target Market could be the percentile of the 70m that you can realistically acquire and serve in the immediate next years. This varies individually because it is based on your personnel (team size, positioning, channels, partners, funds, locality and competences - current and planned) and the efficiency of your marketing (CAC vs LTV, current and feasible) of your individual product
  87. How to find market data Use Google, use Quora, use CB Insights, Crunchbase
 Seriously, JFGI: Just F*ing Google It Find facts in reports from Gartner, Forester, BCG, etc to lend some named sources to your numbers - You’ll be amazed by what you can find online TAM/SAM/SOM is an ART, not a SCIENCE - 
 Don’t make it too complicated. Do NOT make facts and figures up, do not use questionable sources, do not conflate markets - EVER
  88. Business Model Canvas Instead of Biz Plan Understand how 
 your business could
 work - or not Get the book 
 “Business Model Generation” to understand and communicate your 
 Business Model
  89. BACK TO THE REGULAR SCHEDULE Continued The 13 Magic Slides
  90. COMPETITION THE HONEST TRUTH
  91. COMPETITION Describe why users or customers use your product instead of the competition’s product Describe any competitive advantages that remain after the competition decides to copy you exactly, your UNFAIR ADVANTAGES Competitive landscape. Be sure to anticipate competitive responses (before the VC does and puts you in an embarrassing spot) Never deny that you have competitors, no matter how unique you think you are. It is OK to compete. Even against giants. Are you in an existing market, a re-segmented market, a new market or a clone market? Figure it out.
  92. EXISTING MARKET Classic: “Up and to the right” Quality Economical Expensive Discounted High Low CO A CO B CO D MY CO CO C CO D CO A CO B CO C MY CO
  93. RE-SEGMENTED MARKET Product Comparison Matrix
  94. CLONED MARKET Why and how will this work here? Show how you understand and have validated the local needs & differences
  95. NEW MARKET “Petal Diagram”
  96. MILESTONES
 WHEN, WHAT & WHY - NO PROJECTIONS
  97. DAVE MCCLURE
 SHAMED SEXUAL HARASSER
 EX-CEO 500 STARTUPS
  98. SERIOUSLY
 NO F*ING PROJECTIONS
  99. MILESTONES DO NOT build a detailed financial model if you don’t have past earnings, a significant financial history, or real insights into the issue - It’s a bullshit fantasy exercise wasting everybody’s time Instead, include your current status and milestones for the next 1-3 quarters for product, team, marketing, sales with quarterly and cumulative burn rates How are you going to burn the investor’s money in the next 12-16 months and what experiments do that cover and what do you expect to get out of (test & learn) those experiments?
  100. Seed-Stage Milestone Tips As you probably only have a vague problem-solution fit and most likely insignificant product-market fit indications at this stage, think of raising money at this time to put the indications you have found so far to the test, to put more money towards testing if what you have not proven so far can be proven and what you found so far can be repeated and at scale Think of the seed funding round as fuel for two or three of these critical experiments or milestones - based however on actual stuff that you found so far, not on fantasy bullshit you might do in the future The experiments or milestones should explain what you are going to test and which outcome you are expecting and why you are going to test it and how much it is going to cost and what those costs contain and when and for how long the experiments will run These experiments should go towards proving your most critical hypotheses in your venture Can we sell to businesses, acquire consumers, get high and predictable engagement, increase revenue, boost growth, when we do X will Y consistently happen?, etc. i.e. can we acquire some quantified data and evidence towards proving ourselves in a short period of time The evidence, the outcome of these experiments will be proof for raising your next round - OR NOT - so do not fool around with fake bullshit metrics, don’t lie to yourself and investors
  101. CONCLUSION RINSE, LATHER & REPEAT
  102. CONCLUSION This slide can be inspirational, a larger VISION of what the company could do if these current plans are realised, how wonderful a place the world will be Or just repeat another version of the “Summary” slide
  103. FINANCING GIVE + ASK
  104. FINANCING Dates, amounts, and sources of money raised to date How much money you are raising in this round How much of your company are you ready to sell in this round DO NOT FORGET THE GIVE! If you are asking, tell what you are giving Be careful about cementing a valuation - you might not want to lock it down in the deck: “We believe we will create significantly more value with an investment of $X and we are prepared to sell up to Y% of our company.” will help you set the base of negotiation Remember, you can give different ASK & GIVE to different investors (assume everybody talks to everybody) Once your deck is out the door, you’ll be surprised where it might end up
  105. ABOVE ALL TELL A F*ING STORY
  106. AS YOU WOULD TO A CHILD
  107. SEQUENCE OF STORY The sequence of slides tells a story:
 “We have a mission and a team that is taking us there. Why? We discovered a large problem and solved it with a product that has this amazing technology inside. We’re going to market and sell it to these customers, with these advantages over our competitors. In particular, we’re working towards these milestones over the next few quarters. In conclusion, this financing is a great investment opportunity.”
 SOURCE HTTP://VENTUREHACKS.COM/ARTICLES/DECK
  108. PITCHING MASTERCLASS WITH VIDAR ANDERSEN NOW AVAILABLE ONLINE PITCHINGMASTERCLASS.COM
  109. PITCHING TRICKS Bonus Online-Only Material
  110. SLIDE TRICKS Put IMAGES in the SLIDES and TEXT in the NOTES Keep the slides simple, VISUAL, and minimal With 30 point OR LARGER font Put talking points, reasoning, and prose in the notes that accompany each slide Don’t try to cram logical arguments into bullet points on the slides
  111. REACH THE LIZARD BRAIN FAST: Get to the point ASAP! NOVEL: Don’t be boring, do something remarkable, something TRULY unexpected CONCRETE: Don’t beat around the bush! VISUAL: Use photos, less text! HIGH CONTRAST: Black or white, no shades of grey, no nuances, 1 or Zero, no in-betweens, be absolute!
  112. BE “STICKY” Simple: KEEP IT SIMPLE STUPID Unexpected: Surprise & Delight Concrete: No ifs & buts, DON’T MAKE ME THINK Credible: Build rapport, authority & trust Emotional: Be personal, relate, emote, be visual Stories: TELL A F*ING STORY!!!
  113. MAKE PEOPLE UNDERSTAND IT STORY: Tell a story SIMILE: Figure of speech involving the comparison of one thing with another thing of a different kind, used to make a description more emphatic or vivid (e.g., as brave as a lion, crazy like a fox ) ANALOGY: Comparison between two things, typically on the basis of their structure and for the purpose of explanation or clarification METAPHOR: Figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable. EXAMPLES: Use real-world, realistic, relatable examples
  114. MAKE PEOPLE SHARE IT Social Currency - We share things that make us look good Triggers - Top of mind, tip of tongue Emotion - When we care, we share Public - Built to show, built to grow Practical Value - News you can use Stories - Information travels under the guise of idle chatter
  115. VOICE & EXPRESSION What does people remember and judge you by? Words 7% Voice 38% Facial Expression 55%
 93% IS HOW YOU SAY IT 
 NOT WHAT YOU SAY
  116. SO SHOW SOME F*ING ENTHUSIASM
  117. BODY LANGUAGE Be the Tree, feet solidly planted on the ground Hands to the side, never crossed - EVER! Don’t swerve, stay put Don’t be defensive - be assertive Step forwards - not backwards - lean into it Look people in the eyes, stay focused, select a few people left, right and center to focus on, distribute eye-time
  118. STYLE Don’t be apologetic - EVER! YOU ARE THE AWESOMEST! Be positive and enthusiastic - You ROCK! You NEVER suck! Be concrete, crystal clear, short and to the point Over-State, never ever understate Careful with self-deprecation, irony, humour - leave it out Use adjectives and superlatives, over and over 
 (Think Apple Keynotes)
  119. TIMING Practice your pitch until you nail the timing NEVER EVER go over the time limit. PRACTICE! Finish slightly before the time limit to leave more room for the questions Do NOT rush through - Make sure you dwell on the important points (think: dramatic pauses)
  120. Q&A SESSION Be in control: Answer questions with whatever answer you like Paraphrase the question as a question back to the judges to buy you time, think while you reflect that you have understood Q Lean forward into it, no defensive gestures, keep eye contact, keep your presence, remain in control Be honest, don’t lie - “I don’t know, but I’ll find out” is the best answer KEEP IT SHORT AND TO THE POINT: Answer like a 6 year old will understand, and in ONE SENTENCE at best PRACTICE ALL NASTY QUESTIONS UP FRONT - They will ask!
  121. NEVER LIE NEVER EVER “I DON’T KNOW” IS THE RIGHT ANSWER IF YOU DON’T KNOW
  122. “I DON’T KNOW, BUT IF YOU GIVE ME YOUR BUSINESS CARD, I PROMISE TO GET BACK TO YOU WITH THE ANSWER BY TOMORROW”
  123. MORE TRICKS Acknowledge the audience, own the presence before starting the pitch 
 (Watch Bill Clinton speeches on YouTube) At the end, keep in control and actively give the word to the jury for questions instead of waiting for the moderator to do it for you DO NOT USE A SCRIPT - EVER! Imagine your pitch as a journey instead and use keywords as guideposts to get you through - because when you forget a line of the script you are f*ed on stage while trying to remember it, and with keywords on a path you’ll be fine (and use cheat cards in your hand if you need to - it’s OK!) Above all: PRACTICE PRACTICE PRACTICE up to the point where you can pitch in your sleep - literally - and practice by doing all sorts of other public speaking, because public speaking equals building your confidence
  124. BONUS MATERIAL • Get the book
 "VENTURE DEALS" (Yes, it is THAT good)
  125. BONUS MATERIAL Get
 “Pitching Hacks”
  126. BONUS MATERIAL Get the book 
 “Startup Owners Manual” 
 by Steve Blank & Bob Dorf
 
 All you need to know about building your startup in two easy steps. And take the free online course
  127. BUSINESS MODEL CANVAS Get the book “Business Model Generation” to understand your Business Model
  128. VALUE PROPOSITION CANVAS Watch this video about the Value Prop Canvas Then get the Book to understand your value propositions and customer segments, your product- market fit
  129. AIRBNB’S 
 VERY FIRST PITCH DECK
  130. RAISED $ 620K SEED $ 3.4 BILLION TO DATE
  131. STILL THINK YOU NEED MORE THAN 13 SLIDES? 
 JUST FORGET IT
  132. FURTHER READING • SaaS Metrics Cheat Sheet:
 https://chartmogul.com/blog/2015/01/the-ultimate-saas-metrics-cheat-sheet/ • Christoph Janz Saas Metrics:
 http://christophjanz.blogspot.de/2013/12/a-kpi-dashboard-for-early-stage-saas.html • David Skok SaaS Metrics:
 http://www.forentrepreneurs.com/ • Startup = Growth:
 http://www.paulgraham.com/growth.html • 30 / 10 / 1 Engagement Metrics:
 http://avc.com/2011/07/301010/
  133. “WHY WE POLITELY ASK FOR A DECK FIRST” 
 BY CHRISTOPH JANZ, POINT9 CAPITAL 
 HTTP://CHRISTOPHJANZ.BLOGSPOT.DE/2015/06/WHY-WE-POLITELY-ASK-FOR- DECK-FIRST.HTML?M=1 “WHAT SHOULD BE IN MY FUNDING SLIDES?” 
 BY MICHAEL WOLFE
 HTTPS://MEDIUM.COM/@MICHAELRWOLFE/WHAT-SHOULD-BE-IN-MY-FUNDRAISING-SLIDES-ECA162D14D2A#.8K2WAEVN4 “IN DEFENSE OF THE PITCH DECK” 
 BY BILL GURLEY
 HTTP://ABOVETHECROWD.COM/2015/07/07/IN-DEFENSE-OF-THE-DECK/ ALL YOU NEED TO KNOW ABOUT RAISING
 HTTP://VENTUREHACKS.COM/ARCHIVES FURTHER READING
  134. PITCHING MASTERCLASS WITH VIDAR ANDERSEN NOW AVAILABLE ONLINE PITCHINGMASTERCLASS.COM

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