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EVAN BAEHR I EVAN LOOMIS H A R VA R D B U S I N E S S R E V I E W P R E S S
GET BACKED
CRAFT YOUR STORY
BUILD THE PERFECT PITCH DECK
LAUNCH THE VENTURE OF YOUR DREAMS
ContentsAcknowledgments ix
Introduction 1
Part One: CREATE YOUR PITCH
1 The Birth of the Pitch Deck 9
2 The Building Blocks of a Pitch Deck 15
3 Story 39
4 Design 53
5 Text 65
6 Actual Pitch Decks 73
7 Pitching Exercises 135
Part Two: GET BACKED
8 A Primer on Startup Financing 145
9 Overview of Funding Sources 153
10 Intro 173
11 Build 189
12 Delight 203
13 Invite 209
Conclusion 223
Index 227
About the Authors 237
baehr/loomis_1pp.indd viibaehr/loomis_1pp.indd vii 7/18/15 12:38 PM7/18/15 12:38 PM
16 | CREATE YOUR PITCH
CoverWhat should I expect?
What is it?
The cover slide captures the audience’s attention, sets the
tone for the pitch, and serves as “white space” during a pre-
sentation so you can express gratitude for your audience’s
time, show your passion for your venture, and build trust
by mentioning mutual connections.
What should I demonstrate?
• Clean logo. Your logo is the face of your brand;
it can be very important to your overall image.
• Inviting picture. You might include an engaging
picture of your product or customer.
• Descriptive title. Put “Investor Briefi ng” or “Inves-
tor Presentation” somewhere on the front cover
with the date. Dates help you keep track of diff er-
ent versions.
What questions do I need to answer?
• Does the cover make you want to open the pitch
book?
funding the fortune 5 million
Privileged and confidential - George Arison - [email protected]
We make car buying, selling, and ownership delightful
baehr/loomis_1pp.indd 16baehr/loomis_1pp.indd 16 7/18/15 12:38 PM7/18/15 12:38 PM
The Building Blocks of a Pitch Deck | 17
OverviewWho are we?
Contactually is a relationship marketing platform that helps professionals keep and generate business from
their existing network.
Man Crates Vision
To become the dominant brand in the $150B+ men’s gift space by making gift-
giving fun and awesome again.
Reaction Systems, inc.
Building hardware & software to (re)meet a basic human need: shelter.And, we know how to turn a substantial profit doing it. By targeting vertical markets valued at over $11.4 billion annually with innovative products and services, we are going to change the world.
What is it?
The company overview is your “elevator pitch”—the fi fteen-
second version of your deck. It describes a problem you
see in the world and how you are going to solve it. Give
your audience a small taste of what your company does,
but leave them hungry for more.
What should I demonstrate?
• Clarity. It should be extremely easy to understand
what the company does.
• Swagger. Startups are bold, audacious undertakings.
Your summary of the venture should demonstrate
you have the energy and the confi dence to take on
something big.
• Passion. If you don’t care about you’re doing, no
one else will.
What questions do I need to answer?
• What exactly does your company do?
• What industry are you in?
• Is this a novel idea?
baehr/loomis_1pp.indd 17baehr/loomis_1pp.indd 17 7/18/15 12:38 PM7/18/15 12:38 PM
18 | CREATE YOUR PITCH
DEEP DIVE
The Elevator PitchAn elevator pitch is the simplest, quickest way to describe
what your venture is and what makes it so amazing. It’s the
pitch you prepare for when you only have fi fteen seconds
to catch someone’s attention—like when you meet him in
an elevator or see him on a street waiting for an Uber or
Lyft ride.
The great screenwriter Blake Snyder argued that the se-
cret to all great pitches is learning to combine the familiar
with the intriguing. You must start with something your
audience knows well. Then, surprise them with an ironic
twist that captures their interest and will make them want
to know more.
Use analogy. Do not assume your audience knows what
you are talking about. Describe your venture with com-
mon language and universal images that appeal to your
prospective investor and future customers.
Don’t talk about what your product does; talk about what it
does for your customer. This is a really common mistake
for engineer types. The classic maxim from Harvard pro-
fessor Ted Levitt illustrates the idea well: “People buy a ¼"
drill bit not because they want a ¼" drill bit, but because
they want a ¼" hole.”
Pick a fi ght. Don’t be afraid to build off of a universally
hated experience. Picking a fi ght can be a clear sign that
you’re solving a real problem.
Tell your vision. Don’t get lost in describing the product.
Describe the new and better world you want your product
to help create.
Examples
The fi rst [what you are] that doesn’t suck.
• SilverCar: The fi rst car rental company that doesn’t
suck.
• Karma: The fi rst mobile provider that doesn’t suck.
The [easiest/fastest/funnest/best] way to [your solution].
• Shyp: The easiest way to ship your stuff .
It’s [analogy] for [your space].
• TreeHouse: It’s Whole Foods for Home Depot.
We help [your customer] do [your solution] by [your prod-
uct]. Or, We are a [your product] that helps [your customer]
do [your solution].
• Contactually: Contactually is a relationship marketing
platform that helps professionals keep and generate
business from their existing network.
baehr/loomis_1pp.indd 18baehr/loomis_1pp.indd 18 7/18/15 12:38 PM7/18/15 12:38 PM
32 | CREATE YOUR PITCH
TeamWho is going to pull this off?
What is it?
In the team slide, you want to give the background for
each of the key team members, including their current
roles, prior experience, signifi cant accomplishments, and
education. If there are any major investors or advisers, you
can name them here. Keep your bio to less than a minute
total when presenting. Your goals are to build rapport, be
known, and build confi dence that the team can accomplish
the mission.
What should I demonstrate?
• Brevity. Each bio should be only seventy-fi ve words
or less.*
• Domain expertise. You have the experience and
insight to get the job done.
• Passion, intensity, and a good team culture. You
know the kind of team culture you are creating and
that each person is committed to it.
*You should also prepare a longer (250–500 word) bio, in case an investor asks
for it. The point of the pitch deck bio is to get your audience’s attention, not
tell your life story.
1stOpinion
Moms havea problem
Team
McKay Thomas
Father Of Two
Co-founded Baby.com.br
From Ideation To $23MM In VC
Over Product
McKay Thomas
Father Of Two
Co-founded Baby.com.br
From Ideation To $23MM In VC
Over Product
McKay Thomas
Father Of Two
Co-founded Baby.com.br
From Ideation To $23MM In VC
Over Product
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OveOveOveOveOOveOveOveOveOveOOveOOveOveOveOveOveOveOveOveOveOveOveOveOveOveer r r Pr Pr Pr Pr Pr Pr Pr Pr Pr r Pr Pr Pr Pr Pr Pr Pr Pr Pr PPPPPPr ProdddddddrodrrodrodrodrodrodrodrodrodrodrodrodrodrodrodrododdoddductuctuctucttuctuctuctuctucttuctuctuctuctuctuctuctuctuctuctucucucucuuuuOOOOOOOveOveOveOveOOveOveOveOveOveOveOveOve PPr Pr Pr Pr Pr Pr Pr Pr Pr Pr Pr Pr Pr Pr Pr PPPPPr roddrrrododrrodrodrorodrodrodrodrodrodododddd tttttttctuctcttuctctuctuctucuctucucucuuu tuOOveOOvOveOveOveOveOveOveOveOveeO r Pr Pr Pr Pr Pr Pr Pr Pr PPPPPr rodrodrododrodrodrodrodrodroodd ttttuctuctuctuctuctucuuctuucuOOveOOvOveOveOveOveOveOveOveOveeO r Pr Pr Pr Pr Pr Pr Pr Pr PPPPPr rodrodrododrodrodrodrodrodroodd ttttuctuctuctuctuctucuuctuucu
McKay Thomas
Father Of Two
Co-founded Baby.com.br
From Ideation To $23MM In VC
Over Product
M & LOGISTICS
ROLLINE KATS
KYLE SEAMAN MOBILE DEV. LEAD
HEATHER ONSTOTT BUSINESS DEVELOPMENT
LUCIANA ALMIEDA
GGRACE WU LEAD DESIGN
AMANLEAD
D N MARINO
NSTOTT LOPMENT
MD
LLUCY MCQUILKENCFO / CONSULTANT
HHANNAH DZIURA ACCOUNT REP
PHIL CUDDEFARM DIRECTOR THE TEAM
Kathleen Shea-PorterOperations / Brand
Justin McLeodCEO
AJ BonhommeLead Engineer
Confidential | Copyright 2013 Cleod9 Inc
Editorial Manager at LivingSocial
Game Theory Major Harvard MBA
Cyveillance (acq’d)AgentLogic (acq’d)
+2 engineers, data scientist, growth hacker, community mgr, designer
Tuesday, October 22, 13
baehr/loomis_1pp.indd 32baehr/loomis_1pp.indd 32 7/18/15 12:39 PM7/18/15 12:39 PM
42 | CREATE YOUR PITCH
If you want to get people fi red up about an idea, they
need to know why you are fi red up about that idea. Scott
knows that sharing the story of how he started keeps
people from seeing charity: water as just another charity
and creates a bond between him and his audience. “Many
people want to know what is driving the entrepreneur for-
ward, and learn more about his or her character before
they invest,” Scott said. “I think one of the most important
Your Origin StoryThe journey from loving home to the nightclubs of New
York to the poorest parts of the world is Scott’s origin
story—his personal “why.” It’s how he came to discover his
mission and start pursuing it, and it is at the core of his
ability to rally people to his cause.
Diagram of Joseph Campbell’s Hero’s Journey Gray circle = inner journey
Blue circle = outer journey (character transformation)
11
9 4
8 5
10 3
2
12
7 6
1
Resurrection
Ordinary World
The Hero’s Journey
Act 3 Act 1
Act 2B Act 2A
Special World
Road Block
Reward (seizing the
sword)
Ordeal
Approach the
Inmost Cave
Preparing for a big change
Tests, Allies, and
Enemies
Experimenting with fi rst change
Committing to change
Overcoming reluctance
Conse-quences of the attempt (improve-ments and setbacks)
Redidication to change
Final attempt at a big change
Final mastery of the
problem
Limited awareness of
a problem
Increased awareness
Reluctance to change
Attempting a big change
Crossing the
Threshold
Meeting with the Mentor
Refusal of the Call
Call to Adventure
Ordinary World
Returnwith the
Elixir
baehr/loomis_1pp.indd 42baehr/loomis_1pp.indd 42 7/18/15 12:40 PM7/18/15 12:40 PM
Story | 51
What isWhat isWhat is
What could be
The gap
What could be
What could be
Reward: new bliss
END
End the presentation on a higher plane than it began, with everyone understanding the reward in
the future.
BEGINNING
Paint a picture of the realities of the audience’s current world.
Turning Point 1
CALL TO ADVENTURE
Create an imbalance by stating what could be juxtaposed to what is.
Turning Point 2
CALL TO ACTION
Articulate the fi nish line the audience is to cross.
MIDDLE
Present contrasting content, alternating between what is and what could be.
CROSS THE THRESHOLD
The audience leaves the
presentation committed to taking action,
knowing it won’t be easy but will
be worth the reward.
What is
baehr/loomis_1pp.indd 51baehr/loomis_1pp.indd 51 7/18/15 12:40 PM7/18/15 12:40 PM
58 | CREATE YOUR PITCH
ColorThe most basic building block of color is called hue. When
we say that these colors are all “red” and these are all
“blue,” we are referring to the color’s hue.
As you may remember from elementary school, there
are six hues: red, orange, yellow, green, blue, violet.
But if there are only six, what makes for all the variety in
color? Adding white (tint) or black (shade). We get all that
wonderful and problematic variation in color from these
two simple tools.
When it comes to your color palette, your focus should
be on consistency or contrast. Too similar colors will make
your design feel disorienting. And don’t trust your eyes;
get the RGB numbers. Create a slide at the beginning of
your presentation that contains your color palette and
stick with it.
The color palette for your deck should contain three
core colors, a neutral color, and a highlight color. As you
assemble your color palette, ask yourself: In the mind
of my audience, which colors are associated with the
thoughts, feelings, and ideas I want the audience to have?
Of these colors, which relate well with my logo and with
each other?
baehr/loomis_1pp.indd 58baehr/loomis_1pp.indd 58 7/18/15 12:40 PM7/18/15 12:40 PM
156 | GET BACKED
CrowdfundingAt a Glance
How much? $5,000–$100,000
When? Seed stage, early stage
Crowdfunding is a very diff erent and potentially disrup-
tive form of startup fundraising that involves many inves-
tors pooling small amounts of cash to fund a venture or
some aspect of it. Crowdfunding can be divided into two
categories:
• Rewards-based. People act as “patrons” instead
of investors, giving cash in exchange for diff erent
levels of rewards. In some cases, those rewards are
presales of the product. This is what most people
think of when they think of crowdfunding. Exam-
ples: Indiegogo, Kickstarter
• Equity-based. People make actual investments
in exchange for equity in a venture. In the past,
equity-based crowdfunding platforms could legally
accept only accredited (read: rich) investors. With
the new SEC rules that came out through the JOBS
Act in March 2015, equity-based crowdfunding
now extends to almost anyone. Examples: CircleUp,
Crowdfunder
Crowdfunding platforms can do a lot more than just
raise capital. Entrepreneurs use them as marketing tools,
to validate a prototype or concept, to collect presales, and
to test things like pricing and messaging.
Pros Cons
With rewards-based Everybody sees it. You may
platforms, you don’t have not get enough traction on
to give up equity. the site, which looks bad
if the funding campaign
didn’t pan out
Off ers you immediate Donors can be impatient
feedback on the viability and may complain if you
of your idea; bad ideas don’t deliver rewards on
don’t get funding. time and as promised.
Creates word-of-mouth Competitors see what you
advertising. are doing, which may incite
copycats.
Creates a built-in customer base
of people who liked your business
enough to invest in it.
Notable Crowdfunding Platforms
• Kickstarter • CircleUp
• Indiegogo • Crowdfunder
baehr/loomis_1pp.indd 156baehr/loomis_1pp.indd 156 7/18/15 12:42 PM7/18/15 12:42 PM
162 | GET BACKED
DEEP DIVE
Anatomy of an AngelList Profi le
Clean logo
1,669 followers is absurdly
high.
A demo video is best. If you
don’t have one, use photos of your product.
You have the option of
adding multiple visuals in a
carousel here.
The tweetable version of
your slides and other
beautiful words about how
amazing your product and company is.
People will see this when they browse through the list of startups, so keep it short and make it memorable.
Search tags help others discover your venture. They are worth adding.
This is where investors would see your fundraising info.
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