PREPARING YOUR PITCH - Purdue University€¦ · •Great for small talk. Makes you memorable....
Transcript of PREPARING YOUR PITCH - Purdue University€¦ · •Great for small talk. Makes you memorable....
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PREPARING YOUR PITCH
Arnold Chen, Managing DirectorBurton D. Morgan Center for Entrepreneurship
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OUTLINE• Before your pitch• The Pitch• After your pitch
• Fun real examples
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WHAT IS YOUR GOAL? WHY ARE YOU MEETING?• To get the next meeting!!!
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KNOW YOUR AUDIENCE• Ask them what they want to hear!• Know your time limit
• Plan your pitch accordingly• Who will be attending?
• What are each of their roles?• Who are decision makers?
• Understand their background/experience• Good for anticipating questions
• Great for small talk. Makes you memorable
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PREPARATION• Practice your pitch!• Watch your time
• Get to the Q&A. That’s where the important part of the meeting happens
• Proofread your pitch• Nothing worsse than having a typo or font issues
• Distracting• Shows you are not detail oriented
• Be early
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DURING THE PITCH• Don’t get flustered by interruptions and
questions• Effective communication
• Listen to questions carefully!• Answer succinctly
• Assign a team member to take notes/action items
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1. OPENING SLIDECompany Name
Contact info
“Catch Phrase”…”We are the …”10 words or less
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TELL YOUR STORYTell them why this is important to you
Why are you doing this?Paint a picture/tell a story
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2. PROBLEM STATEMENTWhat is the problem you are trying to solve
Tell a storyGive an exampleHook them early
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3. SOLUTIONHow are you solving the problem?
Not too technical
“If you can't explain it to a six year old, you don't understand it yourself.”
-Albert Einstein
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4. SHOW ITBring demo unit
Screen shotsPicture
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5. REVENUE MODELHow are you going to make money?
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6. TRACTIONHow many customers do you have?
How many customers have you talked to?
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7. MARKETMarket Size
Addressable Market SizeTops down/bottoms up
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8. CUSTOMER REACHHow are you going to reach your customers?
Hunt vs. fish
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9. THE ASKWhat are you asking for?$, partnership, support
Company milestones
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10. TEAMCore team
Highlight balance/know what’s missing
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11. CONCLUSIONRecap
Why you are a good investment
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BACKUP INFO• Competitive Landscape• IP protection• Use of funds• Financial projections• Advisors• Product roadmap
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AFTERWARDS• Email team recap of meeting and action items• Follow-up• Send out progress updates
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PRACTICE, PRACTICE, PRACTICE• Pitching is a learned skill• Practice at every opportunity• Change slides for each pitch
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A FEW FUN EXAMPLES
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SORRY YOU CANT READ THISINPUTS
SYSTEMSALESFORECAST COUPONSASSUMPTIONS USERS
Inputtotalsalesperyear
Couponusage 40.90%NumberofStudentsUsingAppPrior
System 1,200.00 peryear
YEAR SALESMobileusersredeem
coupons
28.00% AverageStudentsperU(Big10) 41,255
2017 0 %ofStudentsgotoRec.Facility 75.00%
2018 3 %Studentswoulduseapp 30.00%
2019 8 RAMPUP peryear startinginyear AveragePopusingappperU 9,282
2020 12 Penetration 5% 3
2021 18 Reedemption 5% 3
2022 36 QUANTITY2023 90 PRICES #adsperweek 7
RENEWRATE 100% System $25,000.0052weeks=1year
FeeCouponred. $0.30
ADSREVENUEFORECAST FORECASTVISIBILITYPERMONTH
Aninputconsideringsalespermonthismorerealistic,butalsoitlessconservative
SYSTEMSALES2017 2018 2019 2020 2021 2022 2023 jan feb mar apr may jun jul aug sep oct nov dec TOTAL
TotalStudentsVisualizationApp 7,800 195,404 855,373 2,082,442 4,015,075 7,719,007 16,883,338 2017 0 0 0 0 0 0 0 0 0 0 0 0 0
RedeemCoupons 27,095 678,790 3,501,974 9,817,477 21,419,314 45,966,996 111,013,969 2018 0 0 0 0 0 0 0 0 0 0 0 0 3
Accumulated 27,095 705,885 4,207,859 14,025,336 35,444,649 81,411,645 192,425,614 2019 1 1 1 1 1 1 1 1 1 1 1 1 8
RevenueperRedemption $8,128.63 $203,636.89 $1,050,592.19 $2,945,243.07 $6,425,794.07 $13,790,098.72 $33,304,190.63 2020 1 1 1 1 1 1 1 1 1 1 1 1 12
AccumulatedRevenue $8,128.63 $211,765.51 $1,262,357.71 $4,207,600.78 $10,633,394.85 $24,423,493.56 $57,727,684.19 2021 2 2 2 2 2 2 2 2 2 2 2 2 182022 3 3 3 3 3 3 3 3 3 3 3 3 362023 8 8 8 8 8 8 8 8 8 8 8 8 90
HEADCOUNTRATIOS OVERHEAD COSTS
forONEprofessionalInputemployeesperyear
Value Months
SCHOOLS PROFESSIONAL YEARSYSTEMSELLER ADVSELLER DEVELOPER MKT GENERALADM OWNER/FOUNDER
Implementation $600,000.00 15
Numberofschools(systemclients) 2017 0 1 1 0 0 010 1 2018 1 1 1 0 0 0 Expenses
2019 1 2 2 0 1 0.5 OVERHEAD 2x
MERCHANTS PROFESSIONAL 2020 2 2 2 1 1 0.5Numberofads(week) 2021 2 3 3 1 1 1
50 1 2022 4 6 3 1 1 12023 9 13 4 1 1 1
SALARY $60,000.00 $60,000.00 $80,000.00 $65,000.00 $30,000.00 $100,000.00
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ü A working concept for VD-EGM was formulated. The unit design consists of asymmetric gears and a slider, whose position determines the instantaneous flow
TOO MUCH TEXT
ü A flow variation range of ≈ 65% - 100% was demonstrated on a high pressure prototype, able to operate up to 250 bar outlet pressure
ü A low pressure prototype (up to 30 bar pressure) is on development. The low pressure prototype is based on a extremely low cost solution
ü The design was defined on a basis of a numerical procedure developed at MahaFluid Power Research Center of Purdue, the largest academic fluid power lab in US
ü High volumetric and torque efficiency were measured on a prototype, showing the validity of the concept
ü High pressure prototype: suitable for hydrostatic drive applications in aerospace, construction, agriculture, manufacturing applications, where current units are either expensive or not capable of offering flow on demand features (low efficiency)
ü Low pressure prototype: suitable in automotive (lube pump, LP injection pump) and fluid transport systems. Reduces the fuel consumption up to 30%.
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TOO TECHNICAL
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TOO FANCY
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HOMEWORK• Go watch a few episodes of Shark Tank
• Watch the entrepreneurs pitch