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Invention to Venture
The Perfect Business Plan,Slide Show and Elevator
Pitch
Presented byTim Hoerr, CEO
Invention to Venture
Telling Your Story
Invention to Venture
Telling Your Story Effectively
Telling Your Story
Effectively
Business
Plan
ExecutiveSummary
Elevator Pitch
Slide Show
Invention to Venture
Executive Summary Criteria
Invention to Venture
Business Plan
• A 15 to 25 page marketing document that is:– An external sales tool for investors, bankers,
future team members, or potential partners/customers
– Distinct from a strategic plan which acts as an internal road map or guide
• Different versions for different audiences• A living document, changing as you learn
Invention to Venture
A typical business plan outline
• Executive Summary – VERY IMPORTANT – identifies basic problem and solution
• Technology and IP• Market Opportunity (scope and size)• Customers and how you will reach them• Competition• Business/Strategic Model• Leadership/Management Team• Financial projections• Exit Strategy• Appendices
Invention to Venture
Executive Summary
• 1 to 1 ½ page section that distills the essence of your business plan
• Must capture the reader’s attention – this may be all they read
• Must answer the basic question -- What problem or point of pain will you solve?
Invention to Venture
Technology and IP section
• Provides more detail about your technology
• Describes the status of IP protection
• Does not discuss proprietary or confidential technical information
Invention to Venture
Market Opportunity Section
• Describes market opportunity in detail
• Identifies customers and explains how you will reach them
Invention to Venture
Competition section
• Same technology as competitors, or different?
• Does industry exist, or are you starting a new one?
• Is competition domestic or foreign?• What are strengths and weaknesses of
major players?
Invention to Venture
Business model/strategy section• Your sustainable competitive advantage,
core competencies, unique value proposition
• The basics of how your idea will be commercialized successfully
• How will you make a profit, and when?• Risks and how you will deal with them
Invention to Venture
Team, financial, and exit strategy• Team
– Founders/Management– Directors, Advisors– Others
• Financial Projections– How much money and when– Use of money– Time to break even/profit
• Exit Strategy– Acquisition/merger– Initial Public Offering(IPO)
Invention to Venture
Be sure the team is on board
• Understands and believes in the plan• Demonstrates
– Passion– Knowledge of the technology and key non-
technical factors• Is comfortable being questioned, and
has back-up data available• Is ready to “connect” to investors and
others in a friendly, likeable way
Before you start talking to investors, make sure the entire management team:
Invention to Venture
Separate Executive Summary
• A 2-5 page document that summarizes the main points of the business plan (BP)– Often used as a stand-alone
document• A powerful selling tool, it may be
your only chance to catch an investor’s attention
Invention to Venture
The Slide Show• A brief (20 minutes)
presentation with punch and passion
• Tells your story clearly and succinctly
• Speaks the language of your audience
• A supplement to, not a substitute for, the business plan
Invention to Venture
Slide show tips• Learn about audience and tailor to their
interests • Rehearse: role play with mentors and
ask for feedback• Prepare answers to likely questions in
advance• Don’t hand out the hardcopy until you
are finished• Look directly at the audience, not at the
screen behind you• CONNECT – BE FRIENDLY AND LIKEABLE!
Invention to Venture
More slide show tips• Prepare for technical glitches• Speak clearly and slowly• Answer questions honestly--If you don’t
know say so & tell them you’ll find out• One main presenter is usually best, but
other team members should answer questions
• Don’t be defensive, but don’t allow people to steamroll you
Invention to Venture
The elevator pitch• A 30 to 60 second sales pitch designed
to– Convey your idea – Get the listener to ask for more information
or schedule a meeting• The pitch should describe
– The need or problem your venture addresses
– Why your solution is effective – The benefits – Who you are and how to contact you
Invention to Venture
Elevator Pitch Example
• Serra Capital Fund:– Serra Capital Fund, L.P. seeks to provide venture capital to
early-stage technology companies sourced in the Midwest, the Southwest, and the West Coast by identifying opportunities through extensive relationships with universities, entrepreneurs, and investors. The Fund’s objective is to generate high risk-adjusted returns by applying its investment framework to companies with innovative technologies across multiple sectors including Information Technology and Software, Life Sciences, Clean Technology and Agriculture Technology.
Invention to Venture
Elevator pitch tips
• Write it down, revise, revise, practice, practice until is is perfect
• Get feedback from mentors and other entrepreneurs
• All team members should know it cold
Invention to Venture
Review of the elements for communicating your idea
Invention to Venture
Contact Information
• Tim Hoerr:– [email protected]– P: 217.819.5201– M: 217.840.9695