Getting to WOW - Secrets of Pitching to VCs - with Bill Reichert, Garage Technology Ventures and Pegasus Tech Ventures
Metrics that Measure Up - Un podcast de Ray Rike
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If you are contemplating VC funding, this episode of the Metrics that Measure Up podcast is like receiving a master's degree in pitching to VCs from Bill Reichert and his book "Getting to Wow" Key concepts covered include: Ensure your pitch follows the three C's - Clear - Compelling - Credible CLEAR is removing the complexity Do not fall into the "experts curse" - only you have the depth of expertise on the topic - Ensure anyone can understand what you do in 1-2 sentences - Test your message with fresh brains before your pitch to VCs COMPELLING - Investors are human - they invest with their "heart" - not just their "head" Ensure your pitch invokes emotional engagement - Go beyond the facts and use short stories of how customers are being positively impacted - Imagine if..." CREDIBLE - phrases like "disrupt the entire health care industry" or "we can capture 10% of the market and have $1B in revenue" - can negatively impact your credibility - real life customer stories and proof points go much farther PITCH DECK - their is no template that fits every pitch but a common theme is - LESS slides is much better (15 or fewer) STORY TELLING - Do not use a single story arc or start with a personal story that led to your creation -use small stories to highlight key points Ensure you highlight the SPEED and EFFICIENCY of your Customer Acquisition to highlight your customer acquisition process is repeatable and scalable. Key metrics go beyond just sales cycle length and customer acquisition cost, but also efficiency metrics like Customer Lifetime Value to CAC ratio and your gross margin. Getting to WOW is based upon observing and participating in thousands of entrepreneur pitches to VC's and has been distilled into a guide for any first time or even experienced founder evaluating VC funding. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
