Marketing bán hàng - Chapter 10: Attracting investors

Copyright 2015 Jack M. Kaplan & Anthony C. WarrenCommunicating the OpportunityPatterns of Entrepreneurship Management5th Edition, Chapter 10Chapter 10Attracting InvestorsTeaser and Elevator PitchThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenPresentation OutlineLocating InvestorsGrabbing Investors attention with a “Teaser”From Elevator Pitch to PresentationMaking a Video PitchAfter the PresentationChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenWhy Attract Investors?No idea, however good it is, will attract resources to help a company grow unless the entrepreneur can communicate the opportunity clearly to potential stakeholders whether they be investors, bank loan officers, corporate partners or even key employees.Chapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenAttracting InvestorsCustomize all communications to your target audience—i.e., are you going to pitch to a bank the same way you are going to pitch to a VC?Investor commitments do not come quickly—allow for an exploratory periodFirst communiqué should be an executive summary or teaser that grabs attentionHave the verbal equivalent of an executive summary—the elevator pitch—ready. Must be a crisp message that can be conveyed in 2 minutesIf you’ve made an impact via the steps above, you will be invited to give an investors’ presentationChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenLocating InvestorsInvestors are busy people, only contact those who are likely to be interested in the opportunityLook within the industry in which the business is focusedSpeak with other entrepreneurs in similar business fields who have successfully attracted investmentLeverage the value of the internet – angel web-sites, crowd-funding (See Chapter 5)Network, network, and network!Chapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenThe Importance of finding the Right Investors - 1Investors aren’t just a source of moneyInvestors add value by:Helping to identify key management team membersProviding key contacts and network accessServing as a mentors, confidants, and a sounding boardHelping to establish relationships with key customers, suppliers, and corporate partnersChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenThe Importance of finding the Right Investors - 2“Arms-length” investors are passive investors who want little or no involvement in the businessThough this sounds attractive in such a way that they won’t interfere, this is actually unadvisableAlways opt for “Smart-money”Chapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2010 Jack M. Kaplan & Anthony C. WarrenTips on Finding the Right InvestorsAttend local entrepreneurs networking functionsKeep in mind the criteria by which investors filter:Stage of CompanyDomain or fieldSize of InvestmentLocationStage of fundNetwork—Investors MUCH more likely to review opportunities that are referred to themChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenPreparing a TeaserA teaser is the bait—it must be impeccable in its appearance, short and to the point, clear, and elegantBe sure to describe the opportunity and the benefit to the potential investorIt takes a lot of time to prepare an effective teaserDraft it, go back to it, and have a trusted mentor check it. Chapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenThe Elevator Pitch - 1The elevator pitch is essentially a verbal version of the teaserImagine you have two minutes in the elevator with your ideal target investorDon’t underestimate the effort needed to make this pitch short—this is extremely difficult and must be rehearsed time and time again.Chapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenThe Elevator Pitch - 2Speak clearly, do not mumble, and do not rushPut yourself in the place of your audience – don’t tell them what you want to say, but what they want to hearModulate your voiceGet the audience involved and interested earlyBe enthusiasticDo NOT get into lots of detailMaintain positive body languageDo not be overanxious or overactFinish on a high note; close with focus on next actionsChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationThe Video Pitch - 1Increasingly, short video clips are being used to promote start-ups.Many examples can be found on the internet and on crowd-funding sites.Smart-phone cameras and freely available video-editing software has reduced the cost of production.Copyright 2015 Jack M. Kaplan & Anthony C. WarrenChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationThe Video Pitch - 2Choose a simple font and only use oneDon’t use fancy cuts – keep it simpleWrite a story board to make sure that there is clean flow between sequencesKeep scripts short and to the pointDo not exceed three minutes Don’t use canned free musicCopyright 2015 Jack M. Kaplan & Anthony C. WarrenChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenInvestors’ PresentationAn investors’ presentation is the next step after a potential investor has taken the “bait”Fill in details that the teaser left out. Should be no more than 20 minutes and 12-16 slidesFollow the outline in the Book, Chapter 12Have back-up slides to answer possible questionsLeave time for Q&AChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenInvestors’ Presentation TipsDo not hand out copies prior to the formal part of the meeting. You want attention on youNever read from slidesFace the audience, not the screenDo not overrun your time for the formal presentationFewer slides are better than too manyLess content on a slide is better than too muchDesign the presentation around a clearly articulated and visual roadmapChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenAfter the Presentation -1Contact investors a few days after the presentation to see if any additional questions can be answeredCreate a sense of urgency and need for action on the part of the investorSupport the Investor Evaluation ProcessManagement TeamBusiness ModelContext—Viability of the OpportunityThe DealChapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the PresentationCopyright 2015 Jack M. Kaplan & Anthony C. WarrenAfter the Presentation - 2Dealing with failure—no matter the outcome, every situation is a learning opportunity. Turn negatives into positivesWork towards a “Term Sheet”—final financial agreement that addresses ownership, control, and financial objectives before due diligence is undertaken.Chapter 10Attracting InvestorsTeaser and Elevator/ Video PitchesThe PresentationAfter the Presentation