Transcript: How would you solve the problem if you had an unlimited budget? FIELDS MY FAVORITE idea: Favorite idea. Other How would you solve the problem without spending any money? The most PRACTICAL idea: IDEA This is the most disruptive idea. "How can you make make online payroll so easy that when I need help, I can get the answers to my questions, that rarely will I need to call customer support… …but when I do, my experience is delightful?" Customer Awareness Campaign Problem Statement How would you solve this problem if you had control over the laws of nature (think of invisibility, teleportation, etc.)? IDEA SELECTION The most DISRUPTIVE idea: This seems like the next logical step. How would a 5-year old solve the problem
Transcript: ALGEBRA SCRATCHING THE SURFACE PATTERNS MONEY I'VE LOST MY MARBLES RATIOS ON TARGET Categories... PERENNIAL MATH VIRTUAL TOURNAMENT OUT OF TIME TIME HIP TO BE SQUARE Rules Technical Reminders National Championships SHOPPING SPREE MAKE IT COUNT GEOMETRY COMPUTATION HERE'S YOUR SIGN
Transcript: A demo & how much $ Why will you succeed vs. others How will it work Who is on your team -The 'who cares' of who - Educating the VC on the obvious - Burying the 'what' punchline Thigs I hate to see in a 1st Pitch - What: The Test Drive & Price - Why: ABS Brakes, 350 hp, 45 mpg, 5 year warranty - How: Robotic Assembly, Carbon-Fiber body - Who: Carroll Shelby, Ferdinand Porsche - WHAT - WHY - HOW - WHO - The audience will likely make a decision in the first 5 mins - The average VC's attention span is 2 mins. Don't waste them or the rest of the time you're behind the 8-ball - Not a murder mystery with answer at the end - Give answer up-front, then justify Consider this a Romance Mike Hodges ATA Ventures The (Initial) Pitch VC Presentations - Short & to the point -Objective: Create interest for 2nd Meeting -It is NOT to explain all details of the company - 10 slides that will make the audience say "Wow - I want to know more!" Order of importance of what I want to know The Car Sales Analogy
Transcript: "The Place" Colors: "Should I buy this bracelet?" The Braclet that we created only costs $ .50 per braclets. "Why?" "Design" Oh yeah... One more thing? You want to invest in our very inivative company? 4 String Design: -Red + Orange -Pink + White -Black + Blue -Intricute -Bold Click anywhere & add an idea Because these color schemes are so revolutionary, the brightest colors most definately attract the attention of all of our buyers! Our patented, and we'll just take the whole market! "The Place to get all your Favroite Bracelets!" "Priceing"
Transcript: "This is interesting and such a remarkably simple tool with a great impact. A global basic income will have the wonderful effect of a dynamic and recursive engine for a healthy and thriving global economy, which is working inclusive for everyone. We will finally have new markets to conquer. Look Leila! The higher the transaction volume, the higher the basic income for everyone. The higher the basic income, the higher the turnover for companies, businesses and innovators. A wonderful economic engine!" "For companies this is actually great marketing and improves our reputation. And I just looked at co°open's website and have seen more inspiring "impact marketing" and sponsoring tools" "But co°open is not stopping there, we have dedicated ourselves to raise the basic income steadily. With every month in which our pool is growing, half of the newly generate resources will enlarge the basic income for everyone. Turning 10€ into 11€, 12€, 25€, 100€, 500€, 1000€ etc. Member 3 Customers love what they do and enjoy their innovations... Competitive Differentiators "This is a wonderful and visionary lookout Leila, but do you know, what I believe is the most charming. We can get started today, with almost nothing, we are not dependent on any large technological or systemic changes, to initiate and experience positive progress. All we have to do is to introduce the Social Responsibility Certificate in our companies and we all gain plenty small benefits, step by step. What do you think about starting with a 1% Certificate? Description about this team member. Just give a brief explanation of the member's experience and competencies. Leila and Franz went back home, while reading more about the team of co°open. Summary Source: http://www.mckinsey.com/~/media/mckinsey/industries/financial%20services/our%20insights/how%20the%20payments%20industry%20is%20being%20disrupted/global_payments_2015_a_healthy_industry_confronts_disruption.ashx "Together with other businesses, we will leave our mark as one of the first companies world wide to take part in shaping our evolution at a key turning point in history and secure the global purchasing power of everyone." Description about this team member. Just give a brief explanation of the member's experience and competencies. Ever since he could think Samuel was juggling with numbers and ideas, on how to improve millions of lifes in the most efficient way. Until the day, where he initiate co°open to go all in with his idea. co°open - global basic income Tumblingerstr. 80337 München email@example.com T: +49 1525 3586734 Leila and Franz are sad, because the potential of reaching many customers with their companies can not be fully embraced, due to the lack of purchasing power. Meet Leila and Franz, two entrepreneurs "co°open is an open organization introducing a global basic income from bottom up for everyone, one person after another, regardless their heritage, race or social state." Social Responsibility 1000€ Member 4 Write down all of the reasons that you are better than the competition here. Leila begun to read out aloud: Once in their beds, they watched a summary, which the found about basic income on youtube, before they fell asleep, very pleased with the new discovery and a smile on their faces. CONTACT US: "Franz, every time we are eating here, 1% of each meal will be payed into a so called global basic income pool, listen to the explanation" Competitors 1% Samuel Andert Martin Luther King Jr. "... each time the pool is reaching a limit of 10€, somewhere in the world a human will be randomly elected to receive from now on every month a mini basic income forever." Easy Market Entry "Customers will enjoy the moment each time they buy something with a smile in their face, because they can see and feel the direct impact, they are generating with their purchase" Jascha "If every company and every person has a Social Responsibility Certificate of just 5%, already today according to the report, every adult could receive a monthly basic income of ~500€. And not the stop there, the financial transaction market is expanding yearly by 5-7%, doubling the transaction volume by 2030" Are there any other people trying to make money from the same market with a similar solution? Description about this team member. Just give a brief explanation of the member's experience and competencies. Certificate Franz begun to smile, it took him a moment to let that sink and sort out his thoughts, then he said to Leila: Leila nodded silently and added: Leila continues to read, with ever growing eyes: 2050 basic income Franz interrupted Leila in her dreams and said: Leila, even more excited, remembers the global payments report from McKinsey & Company and continued to calculate: They have a great expertise in creating new ideas, products and services, which improve our daily lives for the good, but they have a big dilemma: "I am now convinced that the simplest approach will prove to be the most effective -
Transcript: 340,750,414 Million Travel providers: Airlines, ferries, hotels, attractions, restaurants,... ? virtualtourist.com 4. Language agnostic (unlike US-based sites) Gamification Social media sourcing Partner acquisition Accessible for Greeks and foreigners alike SEO 6. The Hotel wants you to book directly with them. They will offer you discounts. Will they offer you advice? Can you write back and forth to the hotel asking about the islands, which restaurants are the best, the ferry times? Will they book your flights and ferries for you? Will they give you an impartial appraisal on their hotel besides telling you it is the best or the most beautiful? Will they give you your money back if you miss the only boat that day or you made a mistake and there was no boat that day? Will they find you a hotel on the island you are stuck on because there is no boat? The answer is no. A travel agent will do all these things and in the end saves you money. Entice users to share THE SOLUTION Matt Barrett's Greecetravel.com Future Expansion to other countries intended 5. What do we need it for..? Lean Startup Total International Tourist Intake Local Info: Crowd Sourced & Social Referrals & viral marketing THE TEAM Language engine -German -Financial Mathematics -1+ Year in Greece 300 Thousand THE KICKOFF Paper Travel Guides Discovery kugundua.com Language engine provider We do have needs... Total Greek Tourist Intake -Greek, English, Etc. -Built in translator, no need to leave the site Stijn Personalized discovery & planning How Long will this sustain us? A. Infrastructure & development cost Before and during With our estimated burn rate, we believe the start up funds will give us 2-3 years of cycles throught the build, measure, learn loop. Our Targeted Market Share Itinerary composer Independent, reliable & complete info Iterative, validated learning Which of our ideas will work? SEO, make the site known Frequent travelers B. User acquisition Automated personal assistant Intermediary for Couchsurfing Local human guide Commission Based via Bookings -American -Mechanical Engineer -1+ Year in Greece Code the website THE BUSINESS MODEL Partner for revenue The Social Travel Agent Keeps in touch with her friends on Facebook Heard a lot of great things about Geek islands, but has no idea where to start looking Cost per click 340,750,414 Drachmas = 1,000,000 Euro -Get the project off the ground -Scalable to other countries and areas Focus on Greece 3. 7. -Belgian -Software Expert -3+ Years in Greece Social networks Local info providers Personalized downloadable travel guide for tablet or smartphone Knowledge about travel preferences & underlying criteria THE MARKET Advice & recommendations Best-deal, most efficient transport Near-by activities (commercial or not) Help with booking Insurance & help when in distress Language Freedom THE PROBLEM Booking partner TravelOCity.com Some real-life requests... 8 Million Reliable, targeted, unbiased information kugundua.com Classic business model, like TripAdvisor and Google TripIt.com 1. THE ENVIRONMENT 1.6 Million Adam Through profiling... trektheuk.com Lean: optimized for feedback & learning speed 14.9 Million Meet Lisa... Assistance Engaged, interactive social sourcing of info Gamification Provider Target Group Size thereof Matt Barrett on travel sites versus agents... Adwords & other online advertisement Frequent guides for visitors TripAdvisor.com Burn rate estimated at 2 x 150.000 EUR per year 8. Before booking a hotel or apartment on Ithaki, I would like to know if there are enough ferry possibilities to get there. The only site where I could find ‘understandable’ information is this one: www.ithacagreece.com But I see there is only 1 ferry a day from Patra to Ithaki. Would it be possible to give us the names of the ferry lines doing transfers to Ithaki? However I guess it is far too early to book a ferry now. It would be ideal if we could already drive for 1 hour or more direction Patra on the Monday evening. --- Marianne Also we don't know yet if we will take a rental car or go by bus. - Is the road we have to take a highway? - When is the bus going? --- Andy Christian Website hosts (cloud providers) Design profiling and search algorithm THE METHODOLOGY Information about destinations Human Travel Agents (2) contract website designer/ developers for website interface and programming of search engine (1) full-time salesperson & site content generator for building client base (advertizing) and research of Greek travel destinations Information acquisition (incl. incentives?) 2. 28 years old Hungarian Biology degree Likes to discover new places and people No stress - likes to have everthing well planned and organized Loves to be lazy on a beach... but then gets restless after a day or two Developers, Designers Crowdsourced Social Not depending on a single agent's information or opinion No "favorite" locations Up to date From people who've actually been there Focused on a single country to
Transcript: Identification of target market Competition Conclusion Strategy for reaching target market Personal value Business value Identify competition Introduction Technical value How will we overcome competition Product Idea Target Market
Transcript: The product doesn't need to be great; it just has to basically work. And,the market doesn't care how good the team is, as long as the team can produce that viable product. In short, customers are knocking down your door to get the product; the main goal is to actually answer the phone and respond to all the e-mails from people who want to buy. Competitive Landscape We need to dive more deeply into digital learning Who are the big players (Pearson, MCGraw Hill, Cengage, Elsevier, Wiley(?), Ascend) Which are potential partners? Who are the smaller players (Grokit, BB, Knewton, Boundless...) Who are our direct competitors (Digital textbooks versus 2D/3D delivery) Why is our product defining EdTech 2.0? (I think because of how its built, how we present content and (future????) ALS. Can we say we have begun building this or just planning? Should this be part of our spend? I think so. Like when we say launch Vida Body Plus). What is the revenue growth for online learning products WHAT ARE OUR COMPETITIVE ADVANTAGES AFTER SOMEONE COPIES EXACTLY WHAT WE ARE DOING??? Team Include key advisors eg, Jack Thornton, Jayshiro Tashiro in the case of publishing What are our past accomplishments. How we came to realize the outstanding opportunity we are presenting today-keep it succinct! HOW WILL WE MAKE MONEY?? HOW WILL INVESTORS MAKE MONEY!!!??? Introduction/Summary Basically elevator pitch-traction, product, team, social proof Create a meme for investors and friends to spread the word "Google Earth for the Body" "Bringing Anatomy to Life" Do they allude to physiology or only anatomy? Other? The Problem be concrete Who is the customer and what are their pain points What's happening to textbook revenues versus digital revenues Why competitors can't fill the need-ebooks no different, lack of tool integration with content Demo Three minutes Key features Only Key features-no details Leave people wanting more Some thoughts about traction: "Traction is a measure of your product’s engagement with it's market, a.k.a. product/market fit. In order of importance, it is demonstrated through profit, revenue, customers, pilot customers,non-paying users, and verified hypotheses about customer problems. And their rates of change. "A story without traction is a work of fiction" Traction: What have we done so far? Strategic relationships Customer testing (Webinar and demo at HAPS. Maybe we can get some of this data from Frank) Milestones and use of funds What have we raised? What will we raise? Restate the hypothesis we are testing with this round: Students/Instructors are seeking tools for A/P that are fun and engaging. We need to adjust this slide to account for a primary focus on EdTech. A high-concept pitch is the best way to describe your product and vision within an elevator pitch. Bad elevator pitches go on and on about the product. Good ones boil it down to a high-concept pitch. The rest of the elevator pitch should be devoted to your traction, product, team, and social proof. SALES: Describe the business model Current sales or pipeline What are the MICROECONOMICS Macro (put in Andreessen quote here) Technology Issues Keep it succinct but give some details How is it different? IP? Any patents? Is the difference sustainable? What is the basis for that? Market: Elaborate on the problem slide Fill in details about market size, trajectory How will we acquire customers-direct and indirect The Vision Be expansive and inspiring Maybe each of us can reflect briefly on the vision and what it means to us WE WANT TO DRAW APPLAUSE!!!
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