Category: Beginner

Can we create a standard for Demo Day pitches already?

I’m not talking about how or what the slides should be. I’m talking about LENGTH. I’ve done a fair number of Demo Day or Demo Event pitches, and the varying lengths of time for pitches is a BIG problem: 60 secs, 3 mins, 5 mins, 5 mins + 3 mins QA, etc.

I understand that each event is different and has different logistics, but I’m advocating something as simple as: Every startup company should have a rehearsed, cohesive, engaging 3 minute pitch with appendices. You can tell the story of your company and vision and why it’s unique in 3 minutes. If you’re allotted more time, you go to the appendices (this is where you can put the usual market, team, product, traction — anything that doesn’t make you sound unique but needs to be covered).

Think about all the great benefits this cascades into:

1). All demo pitch attendees can expect a reasonable 3 minute presentation of why a company is interesting. 1 minute is really like an elevator pitch; 5 minutes gets really boring if that company isn’t interesting or unique in any way.

2). If you are allotted 5 minutes or more, I still say you do your rehearsed 3 minute demo and then just use the rest of the time speaking to slides as updates and/or answering questions. This is actually how investor meetings happen anyway!

3). Practice pitch sessions get much easier because advisors become accustomed to a rhythm of what a great 3 minute demo looks like; and they can give feedback on how engaging it was. This is opposed to the status quo, where random advisors from all walks of life listen to your unpolished pitch session and give feedback like you have an hour to present instead of 3-5 minutes.

 

As a founder, I would focus on mastering my 1 minute elevator pitch and my 3 minute Demo presentation (which I would put on AngelList). The rest of my company data goes into the appendices where I can refer to them at any time; but I know that my well rehearsed 3 minute Demo Pitch will always be 3 minutes long! 

In the end, this will be beneficial for all parties involved; founders just need to prepare one three minute demo, and pitch events attendees will enjoy the presentations more because they will be MUCH BETTER.

An entrepreneur is always contemplating one of three different stages: settle, struggle, or strive.

Settling could mean settling on his/her vision, or settling on a point of negotiation, or even more basic, calling it quits and settling to get that 9-5 job.

Struggle is the stage that entrepreneurs spend the most time in. You’re figuring shit out. It’s a struggle. It’s a struggle mostly because you don’t have the right answer yet. I can’t say from experience, but I’d imagine that it’s still a struggle when you’re “successful”. Struggle to determine the right 1-2 year plan for the company, struggle for valuation when fundraising term sheets come in, struggle to stay competitive.

Strive sounds like the most fun, but it’s also the most fleeting. This is where you celebrate those moments of product breakthroughs, or big customer wins, or getting accolades. This is the drug that keeps you coming back for more.

Often I think about these three stages. I bet 90% of the time I want to settle, but I don’t. I bet 95% of the time I’m struggling, or I feel like I’m struggling. But it’s the 1-2% of the time when everything’s clicking and the team/I are striving….that’s when we feel good about continuing to do this.

(BEGINNER — this post is for someone who’s just getting into entrepreneurship.)

I came across this awesome post on how funding works for startup companies.  If you’ve never raised any money before, this is a great primer. You should study this, and then research in more detail what you don’t understand (or you can just ask in the comments section!).

If you’re like me and have only raised to a seed round, then you were just mesmerized by the infographic:

 

Crazy how much that rich uncle retains all the way through to IPO right??

First post. Not first post ever…(by this time, who hasn’t posted on FB or tweeted on TW at least once?)…but first post as a founder/ceo/technologist on a blog designed to capture thoughts and promote oneself. 

FICTIONAL SCENE OPEN.

(enters boardroom of the interwebs)

JD: Friends and complete strangers, thanks for joining me today. Hope you enjoy our muffins and refreshments. Let me steer the purpose of this blog.

Blogger #1: You’re doing a blog?? How original…

JD: Thanks! As I was saying, the purpose of this blog is to diary my learnings in succeeding and failing in technology stuff. I’ve started 3 startups, been a part of 2 other small businesses, and before that, produced over 50 independent film & television projects. I’ve yet to join the club that is the satirical title of this blog.

Troll #1: Are you even in the two comma club, haha?

JD: No.

(beat)

JD: So anyways, I’ve got a startup now called SocialMatterz. It’s in the social marketing automation space. I’ll use this blog to write, refer, reply, and track interesting things related to SocialMatterz and anything else in tech. The idea is that there are other people are like me — we’ll call them “one comma clubbers”. OCC people don’t usually write blogs because they’re too busy or too unsuccessful or too unrelevant. But I think there’s value in seeing exactly how a Single Comma gets to Two Commas, and then, becomes a Three Comma —

Internet: Good luck.

SCENE END.