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I am betting that most of us have seen “good” investor presentations and many undoubtedly also have seen investor presentations that were “not-so-good”. Reflecting on all the sweat & tears that it takes to put the company together and build a pitch … then the 10x effort that it takes to generate each opportunity to deliver that pitch… it is just plain tragic to take a risk on a not-so-good outcome.
I have learned a lot from past mistakes… and spent some time recently reviewing past notes and various advice sources on this topic. I have given credit to these sources below… and these will provide anyone interested with good starting points for further reading on investor presentations.
Here is a compilation of notes that I hope can be useful:
The “pitch” will be your primary and critical communication tool!
Plan on updating it frequently… possibly after every practice presentation, and almost definitely after every investor delivery = learning experience.
Don’t hesitate to customize your pitch for your audience… the more you know about a potential investor, the more you can tailor the pitch toward success.
The pitch you deliver will depend on the current stage you and the investor are in. Do your homework! You likely will need versions for:
Elevator Pitch
Email Pitch…
Be sure to craft a company profile “one-pager”.
In-person presentation
Likely you will need both a full and a brief version.
A more complete version with back-up info for handling questions.
General principles
Keep it as short as time permits.
Practice… practice… practice…
…with coworkers, friends, family, pets…
DO NOT read from your slides!
Your professional wording & delivery make all the difference.
Tell a compelling story
Define the Problem
Show a demo, if possible
Articulate your Product’s Value
Talk up your Team
Some special “DON’Ts”:
DON’T evade questions… anticipate possible difficult questions.
DON’T try to hide the risks
DON’T forget an exit strategy
DON’T neglect your business plan…
… Yes: a more complete written plan will be expected after your pitch generates interest.
Some critical “DOs” for medical devices:
Include a level of clinical background info appropriate to the audience
Outline Regulatory and Reimbursement pathways
Go BIG on Market Potential
Describe your Revenue Model & Marketing Strategy
Accurately describe the Competitive Landscape
DO outline Use of Funds and the impact of the investment you are seeking.
LISTEN to your audience
Project confidence
Lessons from Hard Knocks:
Begin at the END…
Begin your pitch with your “Ask” … what are you looking for? …
… and the overall exit strategy that you plan.
BALANCE the Impossible!
Keep it brief… but don’t leave out details
Present the Positive Picture… but be realistic
Wrap it up with your Ask and clear Next Steps
SOURCES
1. Nimesh Shah, currently with K2 Hth Ventures , provided great concepts in an article written for MDDI by journalist Arundhati Parmar
2. Finmark has many helpful points from Josh Krissansen.
3. Bennett Conlin wrote a “How to…” article in BusinessNewsDaily
4. Catherine Cotȇ wrote in HBR Online
5. Fundable publishes an Investor Guide