Ryan CEO English Seminar-Day 3
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Transcript of Ryan CEO English Seminar-Day 3
W. Ryan Huddleston
[email protected]+82-10-5533-3042Blog: http://ryanceoseminar.blogspot.com
English CEO Seminar
Day 3: September 5th, 2011
Topic: VC/Cultural Differences
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Seminar Curriculum
5 Part English Seminar Part 1: 8/22/11 Part 2: 8/29/11 Part 3: 9/05/11 Part 4: 9/19/11 Part 5: 9/26/11
Class Hours: 7:00-9:00pm Location: Nulikum Square
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Seminar Focus
1.Elevator Pitch
2.Presenting Effectively to Venture Capitalists
3.Learning Cultural Differences
4.Increased Ability to Freely Talk in English
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Day 3 Focus
1. Work on Elevator Pitch: Market, Advantage
2. Venture Capitalist Roles
3. Venture Capital/Business Differences
4. Foreign Investor Difficulties
5. IR Timeline
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
SmugMug Elevator Pitch
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Elevator Pitch Structure
1. Yourself 2. Company 3. Team 4. Market 5. Advantage 6. Profits 7. Conclusion
5 W’s1. WHAT is your company?2. WHAT does your COMPANY
do?3. WHO does your company
do it for?4. WHY do they care?5. WHY is your company
DIFFERENT?
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Korean ‘Graveyard’
Labor Unions
‘Graveyard’ of foreign firms
Ticket Monster’s Daniel Shin: Korea’s Uniqueness comes from 2 Factors:
Timing
Barriers to Entry
<
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
What is a Venture Capitalist?
More than just high risk investment…
1. Strategic (growth assistance)
2. Interpersonal
3. Support (management assistance, monitoring)
Maximizing value for portfolio company
Then…getting reward through IPO/M&A
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Venture Capitalist Time Spent
Directors and Monitors
Recruiting Managers
Acting as Consultants
Business Selection
0% 5% 10% 15% 20% 25% 30%
VC Roles
Venture Capital Differences
American
Venture investing companies Investment for
return
Potential high early stage investments Staged financing
Bigger venture funds More pension
funds/insurance companies
Korean
Mainly group or corporation based (Ex: Samsung Group) Investment in
business related partner
Generally less investment and lower early stage investments
Smaller venture funds
Venture Capital Differences
American
Control and Oversight are more important More partners,
frequently attend board meetings
Less companies per VC More time spent
monitoring funds in portfolio
Korean
More selection and funding based (hands off) More fund
assistance focused (finding and investing)
More companies per VC
Some more ‘loan’ based (payback required)
Presentation Differences
American
Few bullet points, info on the slides
Mostly images, headlines
Focus: the presenter
Korean
Lots of bullets, information on the slides
Like a book Focus: the
PowerPoint
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Foreign Investment Difficulties (Investor POV)
Harder for VCs to find you Meetings are less frequent Different Laws Differences in Business Cultures Exit Strategies Many other issues; banking, accounting, tax
Main Point:
Don’t assume foreign investors understand investment in Korea
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Foreign Investment
• Begun spending more abroad• Almost 60%
investing outside of the country
• Dixon Doll, founder of DCM, an Asia-focused venture firm:• Asian countries:
advantages over the U.S. in technology
• Well trained, reasonably priced engineers
• Know how to build local services • “Local talent, local
markets”
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Foreign Investment
• Most important sectors• Cloud
computing• Social media• Software• Healthcare
services
• Investing abroad?• 57% will
increase investments in next 5 years
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Venture Capital Cycle
Raising a Venture Fund
Investing, Monitor-ing, Adding Value to Firms
Exiting and Provid-ing Return to In-vestors
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
IR Timeline
1st Investing Event
2nd Investing Event
3rd Investing Event
Bridging Investment
Pre investment
Post and Pre Inv.
Post and Pre Inv.
Planning how to sell your company to the next stage of investors: • Elevator pitch• Presentation• Added confidence from prior
investment
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
Element Bars (Investment)
Copyright @Ryan Huddleston, http://ryanceoseminar.blogspot.com
After Class Assignment
1. Finish the Profits and Conclusion Sections of the English Elevator Pitch
- Email the parts before the next class- [email protected]
2. Preview of next class:- Elevator Pitch- Elevator Pitch Presentation/Discussion- VC Feedback