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The Elevator Pitch

The Elevator Pitch. Felipe Mendoza GLP Advisors A Sevin Rosen Affiliate fmendoza@glpadvisors.com. What is the Elevator Pitch. The condensed version of your executive summary of your business plan/presentation. 1 to 2 minutes to tell your story…as you ride up an elevator.

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The Elevator Pitch

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  1. The Elevator Pitch Felipe Mendoza GLP Advisors A Sevin Rosen Affiliate fmendoza@glpadvisors.com

  2. What is the Elevator Pitch The condensed version of your executive summary of your business plan/presentation • 1 to 2 minutes to tell your story…as you ride up an elevator • You have to be agile to jab at questions that are thrown. The goal is to get to the next meeting.

  3. What is IN the Elevator Pitch • What's the concept? Who is the customer? • What's the big problem (or opportunity) and how do you solve it? What does the product help the customer do? • What’s progress to date? Is there traction and proof it works? • Who’s the team and what are their past successes? • Ask for a meeting. Derived from Babak Nivi and Mark Suster blogs

  4. Pitch Scenario 2: One in a Crowd How to approach a person who has a line waiting to talk to her: • What are you trying to do? What's the concept? • Ask for a follow up meeting and then actually follow up.

  5. Pitch Scenario 3: Email from Babak Nivi regarding Ning.com Subject: Introducing Ning to Blue Shirt Capital [A useful subject line!] Hi [Middleman], Thanks for offering to introduce us to Blue Shirt Capital. [Reiterating the social proof of the introducer.] I've attached a short presentation about our company, Ning. [He attached a deck.] Briefly, Ning lets you create your own social network for anything. For free. In 2 minutes. [What's the high concept pitch? What does the product help the customer do? Who is the customer?]It's as easy as starting a blog.[What's the metaphor?] Try it at: http://ning.com [Link to the product, or screenshots.] We built Ning to unlock the great ideas from people all over the world who want to use this amazing medium in their lives. [What's the big problem or opportunity?] We have over 115,000 user-created networks, and our page views are growing 10% per week.[Traction.] We previously raised $44M from Legg Mason and others, including myself. [More traction and social proof.] Before Ning, I started Netscape (acquired by AOL for $4.2B) and Opsware (acquired by HP for $1.6B). [Team's past successes.] Blue Shirt's investments in companies like Extensive Enterprises tell me that they could be a great partner for Ning. [Why are you interested in this investor?] We're starting meetings with investors next week, and I would love to show Blue Shirt what we're building at Ning. [Call to action and subtle scarcity.] http://blogs.hbr.org/nivi/2009/04/how-to-write-an-elevator-pitch.html

  6. Keep This in Mind… • Analogies Help • The First thing an Investor Hears is the Last thing he Remembers. Tell them what you do in the first sentence • Simplify the “Technology” (Pitch to Mom). Investors can be Techies or Finance People • KISS (keep it simple, stupid) Minimize Buzz Words • Show your Enthusiasm and Excitement. You’re selling the company/idea/team.

  7. …and Remember This: • Know the Audience and Match Pitch to them • Address the Pain Points or Predictable Surprises (burn rate, need for CEO or key employees) • Talk about Risk Mitigation: Development risk, Marketing risk, etc. • Your Product Must be Substantially Better than Incumbent to Mitigate Customer Risk of Buying from You • Ask for the Money You Need and What You will do with It • In the End, Just Tell a Good Story

  8. The Elevator Pitch • What's the concept? Who is the customer? • What's the big problem (or opportunity) and how do you solve it? What does the product help the customer do? • What’s progress to date? Is there traction and proof it works? • Who’s the team and what are their past successes? • Ask for a meeting. Derived from Babak Nivi and Mark Suster blogs

  9. Thank you Felipe Mendoza GLP Advisors A Sevin Rosen Affiliate fmendoza@glpadvisors.com

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