Essential Pitching Skills for Founders with Thea Sokolowski

Founder Institute
26 Mar 202448:25

Summary

TLDRThe transcript offers valuable insights into effective fundraising and storytelling for startups, emphasizing the importance of understanding investor perspectives, showcasing a compelling mission and business model, and building strong relationships. It highlights the significance of demonstrating adaptability, market understanding, and the 'why now' factor in pitches, and stresses the ongoing nature of engagement with potential investors. The speaker shares personal experiences from working in African markets and the value of being genuine and offering mutual value in interactions with investors.

Takeaways

  • πŸš€ The importance of having a well-designed pitch deck cannot be overstated, as it can influence an investor's decision between two similar companies.
  • 🌍 Understanding your market and being able to adapt to feedback and changes is crucial for early-stage startups looking to attract investment.
  • πŸ’‘ Investors are not just looking for a good business idea; they want to see a compelling mission and a solid business model with a clear path to profitability.
  • 🀝 Building genuine relationships with investors is key, as they are not only funding sources but also potential long-term partners in your business journey.
  • 🌟 Showcasing your team's adaptability and ability to understand the target market is as important as the business idea itself in the early stages of fundraising.
  • πŸ“ˆ Highlighting the 'why now' aspect of your business is essential to demonstrate the timeliness and relevance of your solution in the current market.
  • πŸ” Investors appreciate founders who are aware of the market landscape, including the competition and alternative solutions currently being used by their target customers.
  • πŸ’Ό The 'problem-solution' narrative is a fundamental part of any pitch, where founders need to clearly articulate the issue and how their innovation addresses it.
  • πŸ› οΈ Use of graphics and visual aids can significantly enhance the effectiveness of a pitch, making complex ideas more accessible and engaging.
  • πŸ”— Maintaining ongoing communication with potential investors, even after a round has closed, can keep doors open for future opportunities and collaborations.

Q & A

  • What is the primary factor that investors consider when presented with similar business proposals?

    -The primary factor that investors consider is the presentation quality. If two similar business proposals are presented, the one with a better-designed deck is more likely to be favored as it demonstrates professionalism and thoughtfulness.

  • How long has Thea been working in African markets?

    -Thea has been working in African markets for about 11 years, primarily with startups.

  • What is Stitch, and what does it focus on?

    -Stitch is a payment startup headquartered in South Africa that focuses on building payment solutions for large businesses across Africa.

  • What was Thea's role at Catalyst Fund?

    -At Catalyst Fund, Thea was part of an accelerator program for inclusive fintech companies across emerging markets. Today, Catalyst Fund has shifted its focus to become a climate-focused fund working with early-stage companies in Africa.

  • What are the two organizations that Thea founded in her spare time?

    -Thea founded two organizations: Venture for Africa, a talent community for startups in Africa, and Women Who Build Africa, a community for women working in the tech and investment space on the continent.

  • What does Thea believe is essential for early-stage startups when pitching to investors?

    -Thea believes that early-stage startups should focus on demonstrating their adaptability, understanding of the target market, and the team's ability to make necessary pivots and optimizations in response to market feedback.

  • Why does Thea emphasize the importance of building relationships with investors?

    -Thea emphasizes building relationships with investors because it's a long-term partnership. Investors can become very important parts of a company, potentially even joining the board. It's crucial to establish a connection beyond just the business success.

  • What is the significance of the 'why now' question in a pitch?

    -The 'why now' question is significant because it addresses the timeliness of the business idea. It explains why the market is ready for the solution being offered at this particular time, which is crucial for investors to understand the opportunity's relevance and potential for success.

  • How does Thea suggest maintaining relationships with potential and existing investors?

    -Thea suggests maintaining relationships by keeping investors informed through regular updates on the company's progress, engaging in meaningful conversations, and being open to meetings even when not actively fundraising. She also recommends using a CRM system to manage potential investor leads.

  • What is the key message Thea wantsεˆ›δΈšθ€… to take away from her presentation?

    -The key message Thea wantsεˆ›δΈšθ€…to take away is the importance of storytelling and relationship building in securing investment. She emphasizes the need to understand the investor's perspective, craft a compelling narrative around market changes and why the startup's solution is timely, and continuously nurture relationships for long-term success.

Outlines

00:00

🌟 Introduction and Background

The speaker begins by discussing the importance of presenting well-designed materials to investors, emphasizing the need to put your best foot forward. They introduce themselves as Thea, based in Nairobi, Kenya, with a background in marketing and communications, and share their extensive experience working with startups in African markets. Thea talks about their role at Stitch, a payment startup, and their involvement in other organizations like Catalyst fund and mWater. They also mention their side projects, Venture for Africa and women who build Africa, which focus on supporting entrepreneurs and women in tech and investment across the continent.

05:01

πŸ’‘ Importance of Positioning and Storytelling for Investment

The speaker delves into the significance of positioning oneself effectively when seeking investment. They explain that at early stages, investors are primarily interested in the team's adaptability, understanding of the target market, and the ability to make necessary pivots. Thea also highlights the importance of timing, asserting that the market readiness for the business idea is crucial. They discuss the need for a compelling mission and business model that can attract investors and potential customers.

10:02

🀝 Building Relationships with Investors

The speaker emphasizes the importance of building and maintaining relationships with investors. They share insights from their experience at Stitch, where they've successfully raised funds by fostering personal connections with investors. Thea talks about the CEO's strategy of engaging with investors through casual conversations and keeping them updated on the company's progress. They stress the value of these relationships not just for fundraising but also for the long-term success of the business.

15:04

πŸ“ˆ Investor Relations and Pitching Strategies

The speaker provides a detailed overview of effective investor relations and pitching strategies. They discuss the need to understand the investor's perspective and tailor the pitch accordingly. Thea shares a framework for crafting a compelling pitch, starting with a clear statement of a fundamental change in the world and how the business is positioned to take advantage of this shift. They also talk about the importance of the 'why now' component of the pitch and how it addresses the market's readiness for the innovation being presented.

20:04

πŸ› οΈ Tools and Techniques for Effective Storytelling

The speaker shares practical tools and techniques for effective storytelling in pitches. They reference a Medium article about the 'greatest pitch of all time' and discuss the importance of identifying an undeniable shift in the world as a starting point for the pitch. Thea provides examples from successful companies like Spotify, Dropbox, and Stitch to illustrate how they've used storytelling to capture investors' attention and communicate their value proposition. They also emphasize the need for data and facts to back up the story and make it more convincing.

25:05

🌐 Understanding the Market and Investor Interest

The speaker discusses the importance of understanding the market and investor interest, especially in the context of the Kenyan market. They mention the potential of the gaming industry in Africa due to its popularity and the high volume of users. Thea also talks about the need for a clear problem statement and solution in the pitch, using examples from successful companies to illustrate how they've addressed specific pain points in the market. They stress the importance of showing the product and using analogies to help investors visualize the business's unique selling propositions.

30:07

πŸ“Š Structuring the Pitch Deck

The speaker provides a comprehensive guide on structuring a pitch deck. They outline the key elements that should be included, such as the problem statement, solution, market size, business model, team strengths, and roadmap. Thea emphasizes the importance of showing financial projections, competition analysis, and use cases to help investors understand the potential of the business. They also discuss the value of including client testimonials and endorsements to demonstrate market validation. The speaker concludes by highlighting the significance of the mission and vision of the company in inspiring investors and potential partners.

35:08

🎨 The Impact of Design in Pitch Decks

The speaker discusses the impact of design in pitch decks, stressing that while the content is king, the presentation's visual appeal can significantly influence an investor's perception. They recommend having two versions of the pitch deck: one for in-person presentations with minimal text and visuals to maintain engagement, and another more detailed version for follow-up. Thea emphasizes the importance of good design in making a professional impression and suggests using online tools to enhance the deck's visual quality.

40:10

πŸ€” Handling Investor Feedback and Networking

The speaker addresses the importance of being open to feedback and advice from investors, even if they are not the right fit for investment. They highlight the two-way nature of the relationship between founders and investors, suggesting that founders should also evaluate potential investors. Thea encourages founders to be resilient in the face of rejection and to leverage networking opportunities to connect with other founders and potential partners. They conclude by emphasizing the value of sharing experiences and supporting each other within the entrepreneurial community.

Mindmap

Keywords

πŸ’‘Investment

Investment refers to the act of committing money, time, or other resources to a particular venture or enterprise with the expectation of achieving a profit or return. In the context of the video, it is the financial backing that startups seek from investors to grow their business. The speaker discusses how investors evaluate potential investments, focusing on the team's adaptability, market understanding, and the business's potential for profitability.

πŸ’‘Pitch Deck

A pitch deck is a brief presentation that provides an overview of a business, typically used to convince potential investors to fund the venture. It includes slides that cover the company's value proposition, market size, competitive landscape, financial projections, and team capabilities. In the video, the speaker emphasizes the importance of a well-designed pitch deck in securing investment, as it can make a significant difference in an investor's decision-making process.

πŸ’‘Startup

A startup is a young company that is typically seeking to develop and market a new product or service, often in a competitive and rapidly changing market. Startups are characterized by innovation, agility, and high growth potential. In the video, the speaker shares insights on how startups can position themselves effectively to attract investment by crafting a compelling story and demonstrating their understanding of the market and its needs.

πŸ’‘Market Understanding

Market understanding refers to the comprehensive knowledge a company has about its target market, including customer needs, preferences, behaviors, and the competitive landscape. This understanding is crucial for a startup to tailor its product or service to meet market demands and to identify opportunities for growth and innovation. In the video, the speaker highlights the importance of investors seeing a deep market understanding in the startups they consider investing in.

πŸ’‘Adaptability

Adaptability is the ability of an individual or organization to adjust and respond effectively to changes in the environment or market conditions. For startups, adaptability is a key trait that investors look for, as it indicates the team's capacity to navigate challenges, seize opportunities, and evolve their business model as needed. In the video, the speaker emphasizes the importance of showcasing the team's adaptability to potential investors.

πŸ’‘Business Model

A business model describes the strategy and plan a company uses to generate revenue and make a profit. It outlines how a company creates, delivers, and captures value, and is a critical component of a startup's pitch to investors. The speaker in the video discusses the need for a compelling and viable business model that demonstrates how the startup intends to become profitable and return investment.

πŸ’‘Relationship Building

Relationship building refers to the process of establishing and nurturing connections with key stakeholders, such as investors, customers, and partners. In the context of the video, the speaker stresses the importance of building and maintaining strong relationships with investors, as these relationships can lead to long-term support, valuable connections, and potential future investment.

πŸ’‘Why Now

The concept of 'Why Now' refers to the rationale behind the timing of a business venture or investment. It answers why the current moment is the optimal time to launch a product, enter a market, or secure funding. The speaker in the video emphasizes that startups need to clearly articulate why their solution is needed in the present market context, and how current trends or market conditions make their offering timely and relevant.

πŸ’‘Value Proposition

A value proposition is a statement that communicates the unique benefits a product or service offers to customers or investors. It explains why a particular solution is worth considering, highlighting the value it brings to the market. In the video, the speaker discusses the importance of having a clear and compelling value proposition that resonates with investors and demonstrates why the startup stands out from its competitors.

πŸ’‘Fintech

Fintech is an abbreviation for 'financial technology' and refers to the use of technology to improve and automate financial services. It encompasses a wide range of innovations in the payments, banking, and investment sectors. In the video, the speaker's work in fintech, particularly in African markets, is highlighted as an area of expertise and a key focus of their career.

Highlights

The importance of having a well-designed presentation when seeking investment, as it can influence an investor's decision-making process.

The significance of presenting a clean, well-thought-out, and visually appealing pitch to potential investors.

The speaker's extensive experience working with startups in African markets, providing valuable insights into the investment landscape.

The necessity of understanding and adapting to the unique characteristics of the African market when crafting a business strategy.

The critical role of storytelling in connecting with investors and effectively communicating a startup's mission and vision.

The importance of having a compelling 'why now' in a pitch, which demonstrates the timeliness and relevance of a startup's solution.

The value of building long-term relationships with investors, beyond just the fundraising process.

The significance of being genuine and clear in the ask when seeking advice from potential investors.

The necessity of having a deep understanding of the target market and its needs to successfully build and scale a business.

The importance of showcasing a startup's adaptability and the team's ability to make necessary pivots in response to market changes.

The role of a compelling mission and business model in inspiring investors and potential team members.

The practical advice on maintaining ongoing communication with investors, even after successfully raising funds.

The insight on how to effectively use investor networks and connections to further a startup's growth.

The emphasis on the ongoing nature of fundraising and relationship-building in the startup world.

The speaker's personal experience with Stitch, a payment startup in Africa, and the strategies used to successfully raise funds.

The importance of having a clear and inspiring vision for the future of the business, as well as the ability to execute on that vision.

Transcripts

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I think the unfortunate reality is like

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we're all human and so if if an investor

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is presented with decks of two companies

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that are in all their ways pretty much

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the same or similar but one is like much

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better designed than the other naturally

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they may they may you know uh lean

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toward that one so I think um you always

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want to put your best foot forward and

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always want to make sure that what

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you're presenting is clean that it's um

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you know like well done and and

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graphically thought through and there's

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a ton of tools online that can help you

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with this say hi everyone uh it's great

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to meet you all my name is Thea uh I'm

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based in Nairobi Kenya uh I'm originally

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from the US if you can tell by my

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accents but I've been working in African

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markets for about 11 years uh primarily

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with with startups um so I'm going to

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share my screen I apologize that um I

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can't see the chat and present at the

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same time so let's see how this goes um

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but yeah I I have worked in uh primarily

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in marketing so uh my background is in

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sort of marketing and Communications uh

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but the work that I've done with

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startups over the past 11 or so years uh

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has been everything from building their

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brand and creating their marketing

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strategies and sales strategies to um

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enabling them to to craft their story

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and uh connect with investors um and

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actually raise funding so um I've worked

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with a few different organizations um so

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you can see here at the moment my

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full-time job is with a payment startup

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called Stitch we're headquartered in in

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South Africa uh and we are a payments

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infrastructure company uh building sort

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of Payment Solutions for for large

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businesses across Africa um I've been

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with them for about two and a half years

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so since really since the beginning um

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and I work on everything from you know

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building the brand and and working on

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you know marketing and getting customers

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in top of funnel to working with the

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product team on our language and how we

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talk about the solution uh to working

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closely with our CEO on investor

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relations um and I've been with him

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through the last few fundraises as well

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um previously I was with an organization

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called Catalyst fund which is um an

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accelerator for um individuals well at

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the time was an accelerator for

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inclusive fintech companies across

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Emerging Markets um today Catalyst fund

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has shifted a bit and they are actually

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a climate focused fund uh working with

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early stage companies in Africa um and

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previously I was with a few companies

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called mwater and M so m is the

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nonprofit arm of meltwater which is a

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global software company

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um at meltwater I was the head of

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marketing for for a division um but m is

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based in Ghana and that's that's where I

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first landed when I came to to Africa um

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and I was messed as a training program

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for people that want to become Tech

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entrepreneurs on the continent so um I

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worked there teaching business teaching

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marketing strategies teaching

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storytelling pitching Etc um that's

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really where where I got my start in

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this space um and then in in my spare

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time I actually have two organizations

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one called Venture for Africa which is a

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Talent Community for startups in Africa

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um and one called women who build Africa

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and this is a community for women just

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working across the tech and investment

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space on the continent uh really

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creating a place for them to sort of

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come together and find mentors um you

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know find colleagues and and and share

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experiences so um you know a lot of the

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work that I do sort of on the side is

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also helping uh the women that are part

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of the organization prepare their own

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stories and their and their storytelling

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um so that's a bit about me if you have

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a question maybe if Amilia can just chat

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because I can't see unfortunately the

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chat but I will leave time for Q&A after

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the presentation but yeah today today

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I'm here to talk to you a bit about how

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you can position yourself and tell your

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story for for investment um so I imagine

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there's quite a few people in the room

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today I imagine that you're at all

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different stages uh of your business but

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I can focus today more on the primarily

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early stages so when you you're you're

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first um you know having an idea and

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going for your first few rounds of

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funding um I think in important thing to

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to keep in mind when you're when you're

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looking at investment is that you know

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at the preed And precede levels what

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investors are looking for is quite

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different than what they're looking for

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at later in growth stages right because

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at this point you don't have a ton of

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traction to show you know you haven't

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been doing this a long time you're

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you're really selling them on who you

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are and the the experience and knowledge

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and talent that you and your team bring

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to the table um and particularly you

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know the the the adaptability um you

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know as you all might know in the

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startup space things change very very

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quickly and so very very often probably

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more often than not the particular idea

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or business or business model that you

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start out with is probably not going to

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be what it looks like a year or two

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years down the road right so the

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investors really just want to know do

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you have the propensity to understand

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your Market well enough to make those

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adaptations and make those pivots as and

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when is needed um do you have an

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understanding of the target market

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you're trying to reach and what you're

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actually trying to for them enough to be

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able to hear that feedback and

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continually optimize um the business

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that you're building to really create a

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solution that meets their their needs um

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and of course you and your team right so

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why are you in particular best placed to

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build this business in this market right

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now um and something that I'll talk

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about a little bit further down the road

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is is also this this question of why now

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which I think is is probably one of the

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most important parts of any sort of

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pitch or conversation with investors um

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you know you could you could be the

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right fit to be a really successful

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entrepreneur and have a really great

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idea but the market you're going after

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at this point in time may not be ready

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or right for that right so so the

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understanding of like the the sort of

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pieces of the world that have met at

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this particular point in time that make

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it optimal for you to be solving this

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problem and building this business right

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now um is something that they want to

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understand and then of course a

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compelling Mission um and business model

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uh a uni selling proposition so at the

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end of the day investors are running a

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business right their business is to make

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Returns on the Investments that they

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make and so they want to understand is

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this something that's actually going to

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be able to make money um that's going to

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be able to make returns uh does it have

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a you know an compelling business model

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that will be able to sort of um get to a

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point of say profitability relatively

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quickly um and are you inspiring I think

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you know at the end of the day we all

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want to follow follow and be part of

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something that that really drives us

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right and is meeting a particular

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Mission or or touching on a piece of um

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the world's problems that mean something

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to us so if you're able to inspire an

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investor to believe in your mission and

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your vision enough to invest in the

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company then there's also a good chance

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you're going to be able to inspire

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talented people to join your team or

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businesses or customers to to buy your

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product right so you you as a leader

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also need to be compelling and inspiring

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yourself um so like these are the things

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you know that that investors are really

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looking for at that early stage um when

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you get to growth stages and later

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stages obviously then attration becomes

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very important I think that we all

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understand or aware of the the sort of

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downturn that the global fundraising

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economy has taken or Venture economy has

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taken um over the past few years I think

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back in you know 2021 it was a different

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story um you know people were able to

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raise money on on a lot of ideas and and

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um you know inspiration I think and

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today it's very much about where is the

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profitability where is the path to

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revenue um you know where is the

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traction where is the growth because you

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know and I think it's a little bit more

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realistic but because that's really

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what's going to make the company

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successful down the road um so yeah as

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as the business goes to different stages

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there's different things that you want

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to put forward um one thing that I

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always try to emphasize is this idea

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that investors are people too right we

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all know them uh I have many friends

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that are that are investors that are in

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a VC space um I think you know to the to

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the extent that in this startup culture

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has has really created this world where

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I feel like a lot of Founders especially

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at the early stage feel like they're

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always on um you know we we have demo

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days and we have um you know speed

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dating opportunities with investors and

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we have conferences and we have you know

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all these opportunities for you to pitch

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or to be in Pitch mode which is

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fantastic and and and that's where a lot

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of these things happen but I think

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equally important to remember is that as

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much as you probably don't want to be

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pitch ping at someone all day and

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reciting you know these practice lines

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all day they probably don't want to be

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pitch at all day so I think something we

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need to think about when you're when

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you're thinking of fundraising is like

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longer term right you're trying to build

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a relationship with this person if

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you're successful and you raise funding

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this person is going to be a very

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important part of your company right

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imagine even on the board so if that's

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the case then you want to know that you

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get along with this person that you can

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have a coffee or a beer with this person

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that you you have things in common

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Beyond just wanting your company to be

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successful because it is a long-term

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relationship right that that you get

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into and so I think being able to sus

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that out early on and and start to form

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those connections and find meaningful

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ways to connect with investors um both

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at the point where they may be looking

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to invest but also for the future is

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super important um you know and I can

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speak a little bit about the the company

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that that I'm working at now so Stitch

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we've raised um $52 million in total uh

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over three rounds essentially so so

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we're a series a company um we came out

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of stealth in February 2021 with $4

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million uh in seed funding later got us

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a $2 million extension and we raised our

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first series a beginning of 2022 and

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actually raised an a extension um at the

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end of last year which is amazing in

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this economy and in quite unheard of but

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it's because my my CEO is particularly

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talented at um this relationship

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building he you know has all the all

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these investors and everyone on WhatsApp

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and he'll chat about you know the latest

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like um sleep tracking Innovations or

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this and that and like find ways to

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really connect with them on a personal

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level and through that he's also been

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able to sort of weed out because you

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know it's a two-way street he's been

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able to weed out as well you know these

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aren't the type of people I want to have

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on my cap table because um you know

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money's great and and we need money and

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that's important but it's actually

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equally important that the people that

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are are um contributing or part of your

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company are able to bring more value to

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the table so you know as you can get to

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know someone you can get to know for

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example their Network um the type of

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people that they can connect you to um

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their willingness to to also sell you to

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potentially other investors or to to

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clients for example um and you know I'll

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say that I think some of our Angel

play10:51

Investors that we have at s have been

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like by and large way more valuable than

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some of the larger institutional

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investors just because of the network

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that they bring and the support that

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they offer and and I'll talk about this

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a little down the road too but it's very

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important to continue to cultivate those

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relationships um you know from the point

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when you you first meet a potential

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investor through to when they they

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potentially invest in you but also after

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right because you want to continue to

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get as much value as you can out of them

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um and so it's super important that you

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keep up the communications that you have

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with investors from start to finish so

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what I always say is almost like always

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be selling always be raising or always

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be closing always be raising right um to

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a fundraise especially in the in the

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startup World um does not necessarily

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have a start and an end your actual

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round will right you're going to have a

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limited amount of time uh hopefully that

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you you are um have an open round and

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you'll have a Clos date but those

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relationships and that cultivation of

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those relationships and your um

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willingness to connect with investors

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should be an ongoing thing that you're

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doing you know all the time even if

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you've just closed um and the and the

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reason for that is because you never

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know what happens in the future right um

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you know we we didn't foresee actually

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opening in a extension but because of a

play12:08

serendipitous opportunity we um had

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stayed in touch with a lot of warm lead

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investors um they were very impressed

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with with our growth and they came back

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after seeing our numbers and said hey

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this is something I want to be a part of

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um and so and so you know that's why I

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say like keep keep warm leads almost you

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should have a CRM of of potential

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investors the way that you have

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customers um so all the people that

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you've interacted with whether through

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conferences or something like this or um

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you know that you've reached out to um

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even if the response was was a not right

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now for example you want to just keep

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them informed and keep them in touch um

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and so you can do that in a very light

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touch way um so what we do for example

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is we send quarterly or even by anual uh

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updates on your progress so they can see

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how you're doing and maybe you know six

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months ago you were too small for them

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but maybe now they're interested or

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perhaps a year ago they had a different

play13:04

investment thesis but now they've raised

play13:05

a second fund and you know that has

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changed and now you fit it you never

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know right or potentially they can think

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of someone that that is um a good fit

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for you so so we send these these

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updates and you know you can use your

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own discretion to determine like how

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much you're actually willing to um share

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in these uh depending on how close you

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are to these investors but um you know

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getting them excited sharing about your

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growth and your major accomplishments is

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a good way to do that um and I always

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say like never decline a relevant

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meeting I think the the other side of

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that is there's there's potentially

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going to be a lot of people that may

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waste your time as well and so you know

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you get better and better um with more

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experience as a Founder kind of

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determining what's worth you spending

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your time on or not but I always say

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like again even if you're not raising

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right now um never say no to a meeting

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with someone who could potentially be

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helpful in the future

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um so you know always be open to

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building those relationships and then

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for your existing investors once once

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you do raise around um investor updates

play14:08

are very helpful tools and I'll say it's

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not just for their benefit right so

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again on the one hand it's it's it's a

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way for you to constantly be top of mind

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and they can think of someone else they

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want to introduce you to what have you

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but I think the other part of it is so

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for example we send these a little bit

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less than monthly depending on on how

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quickly we can get it out but um we

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always include things like asks um and

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challenges so we'll say to them hey my

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ask this month is I my uh customer

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support team is is really struggling

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with scaling um the the support function

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as as our business grows can anybody in

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our investor Network connect us with um

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successful fintech companies that have

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done this right um and and connect us

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with a customer success person and you

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know we get in five six seven people um

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and so I think just those little things

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are super super valuable and something I

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think is not talked about enough to

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Founders when they're going through this

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process at the early stage um but like

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that's really the value ad that an

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investor gives you especially The Angel

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Network to be honest um Beyond just like

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the cach itself um so this is an example

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uh of a page that we used to have it's a

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little bit outdated and and and we don't

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use this quite as much anymore but in

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the early days this was very very

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helpful for us so Stitch and STS was

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essentially a a notion page where we

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kept um all of our past investor updates

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for example all of our past like

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marketing newsletters um a like a

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directory of the team a directory of our

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major clients a directory of other

play15:37

investors and and also these kind of fun

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they're like essays that our Founders

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wrote um early on that was you know them

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kind of dreaming about what what Stitch

play15:46

could be um and to me as a as a

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potential employee I also saw this and I

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said you know I want to work with these

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people like this is what was exciting to

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me it was inspiring to sort of read

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their vision and hear from from the

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individuals um how how this was you know

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how how they were seeing this fold out

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and so I think this was a super super

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helpful tool um that that they would

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share with any like really solid

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prospects uh that really gave them a

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full flavor and taste of like who we are

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and what we were trying to do um yeah so

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in terms of the pitch and the story

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itself so that's sort of like investor

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relations so let's move on to the pitch

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and the story itself um again let me

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just quickly check because I can't see

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this chat um if there are any questions

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but if not um I will I will continue and

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then we could do questions at the end

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um cool so yeah there's this um very

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cool I can't take credit for this um

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there's this very cool medium article

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and I and I'll find the link and share

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it on the chat uh after this but uh

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someone wrote back in 2017 about uh the

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the greatest pitch of all time or the

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greatest pitch in the world I think it

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was called um and it was this company uh

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in the US called Zora that's like a a

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data company um

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but you know what was so compelling

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about the way that they told their story

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and this this could be by the way for a

play17:06

potential client in in customer

play17:08

conversation or for an investor

play17:09

conversation in both cases you're trying

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to win this person over right you're

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trying to convince them to invest in

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what it is that you're selling uh

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whether monetarily or by buying the

play17:19

solution so um from an investor

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perspective you know what you really

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want to do is is is try to understand

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first of all who's in the room who's on

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the other side of the table who is it

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that you're talking to um where does

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their understanding of your Market or

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your customer or your particular

play17:35

solution start and end where is there

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opportunity for you to educate a little

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bit um and where do they already have an

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understanding in which you could dive a

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little bit deeper right so that's like

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the first thing you want to get into

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your to your mindset is just like okay

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for example you know I live in Africa

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I've lived in Africa for 11 years I work

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in fintech I work in payments so already

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if you're a a a fintech company working

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working in Africa you know that I have a

play18:00

very good Baseline understanding of that

play18:02

market and the nuances and what makes it

play18:04

unique but if you're talking to an

play18:06

American investor who has never really

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been to the continent before maybe not

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in the payment space or even in the

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payment space you know that you have to

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start with a little bit of background um

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education around hey um you know this is

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this is why this particular Market that

play18:21

I'm working in say it's Kenya is unique

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right um we have things like mobile

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money we have uh you know low banking

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penetration all of these things that are

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fundamentally to Baseline they will need

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to understand to see why your solution

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is necessary right so kind of just

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starting there but um the way that you

play18:40

tell the story I like to say in this

play18:42

sort of greatest pitch there's there's

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this like Old World New World Paradox

play18:46

where you essentially want to in a way

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that is not too dramatic um make this

play18:51

statement that hey the world is changing

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right something about the world has

play18:56

fundamentally changed so the old world

play18:58

is the way that it was working before

play19:00

and this new world is approaching and

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we're at this point right this

play19:03

intersection of that old world and New

play19:05

World um and and things are going to be

play19:08

very different from the way that they

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were before and if you investor or you

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you know business that I'm trying to

play19:13

sell to or customer trying to sell to uh

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does not understand that or is not

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taking advantage of that and jumping in

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with these Innovative thinkers who are

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um you know sort of ahead of the game

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and in what that new world looks like

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then you're going to be left behind and

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you're going to be losing out right um

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and and for for this company Zora who

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who who um you know they used as an

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example in the article um they the the

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the change that they were talking about

play19:39

was the subscription economy so this is

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again back in 2017 but it's like hey you

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know the the there's um people are not

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just purchasing once offs in e-commerce

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anymore there is this whole new world of

play19:50

of a subscription economy where people

play19:52

like to have things coming to them they

play19:53

like to subscribe they don't want to

play19:55

think about having to make a decision

play19:57

about a purchase every single time for

play19:59

example with something like you know

play20:01

fashion with these fashion subscription

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companies were were becoming popular in

play20:04

the US um you know the old world is this

play20:07

once off e-commerce economy the new

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world is like subscription based and the

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solution that Zoro was selling was um

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data tools and e-commerce tools for

play20:18

subscription-based businesses and so it

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was kind of this no-brainer of like hey

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the world is Shifting this way more and

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more and more and more businesses are

play20:26

going to become subscription based

play20:27

businesses so don't you want to be in on

play20:30

you know the the the infrastructure the

play20:32

tool that's going to facilitate the

play20:33

growth of those businesses um you know

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the world is changing and so the

play20:37

obviously you want to have other data

play20:39

points sort of backing that up to say

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well what has changed about the world um

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but but this idea of of being able to

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say um fundamentally and without doubt

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that like there's a change Happening

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Here is is how you sort of hook people

play20:53

in so like this is an example of one of

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the slides in in Zora's deck right we

play20:58

now live in a subscription economy um I

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think one mistake that maybe people make

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too is is it being not div decisive

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enough so you see a lot of things like

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the world is evolving you know and we're

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we're increasingly seeing a you know a

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shift toward toward XYZ um and I think

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when you're really trying to make a

play21:18

statement and get someone's attention

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that's that's a lot less effective than

play21:23

something that you can definitively say

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has changed um and so there's just is

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sort of um thinking around how you can

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maybe craft a statement around what that

play21:32

Global shift is but the whole idea is

play21:35

that um it is it is significant enough

play21:37

that it necessitates an innovation that

play21:40

is coming essentially in the form of

play21:42

what you're selling and the rules of the

play21:44

game have changed in a very permanent

play21:46

way and there's no going back um so a

play21:48

few tips they give are you know things

play21:50

like making sure that you you make it

play21:53

clear there's going to be winners and

play21:54

losers in this situation so because the

play21:56

world has changed somebody is going to

play21:58

lose out and somebody else is going to

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become you know more profitable is going

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to become a winner so you have to make

play22:05

it clear to them who that is um and you

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know how how you're facilitating the

play22:11

growth of the ultimate winners um it

play22:14

needs to be not incremental it needs to

play22:15

be stated as done and permanent and it

play22:17

has happened um and disregard convential

play22:20

wisdom and you have to talk a bit about

play22:22

how that change has happened um that

play22:24

necessitates again the the um the need

play22:26

for this this new Innovation so yeah

play22:29

again this is from this this article

play22:31

great pites start with change um highly

play22:33

recommend you you check that out um but

play22:35

one other piece of this is and this is

play22:37

what I kind of mentioned before um that

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that shift or that story that you're

play22:42

telling um is also predicated on this

play22:46

this uh thesis that you must have around

play22:48

why now so why now speaks to the need

play22:52

for this Innovation um the need for it

play22:54

to be happening in this market for the

play22:57

Target that you're trying to reach and

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why you are the team that is set to to

play23:03

to make this happen right um and so this

play23:05

is like a cool graph again from a few

play23:07

years back but um the the pages of a

play23:09

slide deck for example when investors

play23:11

see a slide deck um that they spend the

play23:14

most time on so obviously financials

play23:16

very important we need to make returns

play23:18

um team again especially at the early

play23:20

stage super super super important who

play23:22

are you and why can you you why the

play23:24

person to fill this um yeah competition

play23:27

and then why now is like one of the

play23:29

slides that I think a lot of um Founders

play23:32

almost forget right to to to include but

play23:34

it's it's super important um thing to

play23:36

happen there and then you go through the

play23:38

other kind of standard things and I

play23:41

again Depending on time I'm happy to

play23:42

talk through like a few other um

play23:45

standard like slides that you have to

play23:46

have but I think that's that's more or

play23:48

less common knowledge at this point um

play23:51

but yeah I mean I think you know it's

play23:52

important to again put yourself always

play23:54

in the mindset of the investors that

play23:56

you're trying to to reach and speak with

play23:59

um they also have it quite challenging

play24:02

right so there's a quote from a a very

play24:04

famous hedge fund investor called Dan L

play24:06

says to be an investor is to live

play24:08

constantly at the intersection of story

play24:10

and uncertainty and the story piece

play24:12

comes from the fact that again as early

play24:14

stage Founders you kind of don't have

play24:17

much to go off of except your story

play24:19

right so if you can tell a compelling

play24:21

story and you can make people believe in

play24:23

this idea and this vision and this thing

play24:25

that you're trying to build and have

play24:26

some data points to back that up

play24:28

um you know you have a very good chance

play24:30

of winning winning people over um but of

play24:32

course the other side of it is an

play24:34

investor kind of knows well um you know

play24:36

in a portfolio of 10 companies we only

play24:39

really need one to succeed we know nine

play24:40

will probably fail um so the uncertainty

play24:43

is there right um and so you have to

play24:45

kind of uh your job is to convince them

play24:48

to to kind of pass that line of

play24:51

uncertainty and and and start to really

play24:53

believe in your story um and one other

play24:56

quote here is is I likeed that there are

play24:58

always

play24:59

two sides to every investment the the

play25:01

number in the story um every investment

play25:03

price every Market valuation is just a

play25:04

number from today multiplied by a story

play25:07

from tomorrow again to me this also

play25:09

speaks to the fact that there needs to

play25:12

be numbers there needs to be data there

play25:14

needs to be a compelling reason for them

play25:16

to invest in this in this business um

play25:19

but but there's going to be a lot of

play25:21

businesses that have more or less

play25:23

compelling numbers because at the very

play25:25

early stages you're kind of making it up

play25:27

anyway right like you think that you can

play25:28

reach this many people and you think

play25:29

that you can make this much money from

play25:31

the business and the investor gets to

play25:32

decide whether or not they think that's

play25:34

true um but but what can really um you

play25:37

know turn the tables for you or get them

play25:40

over the the the ledge is is that is the

play25:42

story that you tell um and so if if you

play25:45

have them really believing in the

play25:46

possibilities of tomorrow um and you

play25:48

have the numbers to back that up then

play25:49

then you're in good shape um okay so I'm

play25:52

going to stop there for now because I

play25:54

realize it's about 30 minutes um and I

play25:57

have pitched de Basics if you wanted me

play25:59

to go through it but I think maybe we

play26:00

just start with the

play26:05

Q&A

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[Music]

play26:08

um Amelia what do you

play26:12

think hi so let's again how is uh my

play26:16

connection now can everybody better okay

play26:20

perfect sorry apologies for earlier uh

play26:24

so yes thanks a lot for uh your

play26:26

presentation it was very interesting

play26:29

everything that you shared and we have

play26:32

some questions let's just start with

play26:35

that so I will put it on this

play26:38

page uh this question is from Ahmad

play26:42

curious about your thoughts on reaching

play26:44

out to V or Angel Investors for advice

play26:47

as someone working on their first

play26:49

startup that is at a pre MVP stage I

play26:52

sometimes reach out to peps for advice

play26:55

and worry it would affect future

play26:57

relationships H great question um no you

play27:01

know I think it couldn't hurt like the

play27:04

the I think the main thing here is a you

play27:06

want to be genuine in your ask so you

play27:09

know they can probably smell a mile away

play27:12

if you're really just fishing to try to

play27:13

get investment or if you actually want

play27:15

their advice if you seem genuine and you

play27:17

actually want their advice um and you

play27:19

and it's someone that's like super

play27:20

relevant right they're they're working

play27:22

in your your field or in your space you

play27:24

know obviously don't start with hey I

play27:26

know you're an angel investor but like

play27:27

hey I know that you have worked with a

play27:29

lot of companies in the space or you're

play27:30

an expert in this space um I'm just

play27:32

starting out I would love uh to to pick

play27:34

your brain for 30 minutes if you have

play27:36

time I think the other part of it is to

play27:38

H to come with a clear agenda so these

play27:40

are the three things that I need help

play27:41

with that I would love your thoughts on

play27:44

as opposed to just um hey I'd love to

play27:46

like talk to you for a half hour um I

play27:49

get a few of those and it's really hard

play27:50

it's really hard to to answer them

play27:52

because like I I don't have a lot of

play27:53

time so if I'm going to give you time I

play27:56

I want to see like clearly you know

play27:58

the the value I can offer and and

play28:00

potentially think about what you can

play28:02

offer that person in return who knows um

play28:04

I think never underestimate uh the the

play28:07

exchange of value that that you can

play28:08

offer as

play28:10

well great answer thank you and our next

play28:16

question uh about the why

play28:19

now the why now part of the pit I find

play28:22

that it tends to be quite subjective

play28:24

even if backed by evidence is it okay is

play28:28

the part of the pit that feels less

play28:30

factual and more the founders

play28:32

importation or of the current uh

play28:36

Market yeah um it it is is is the

play28:40

reality right so I think um you know the

play28:43

the the data that you use or that you

play28:45

choose to draw connections between also

play28:48

shows that you are aware of what's going

play28:51

on in the market right so like you know

play28:54

again an investor has seen a million

play28:56

decks right so if they can see that your

play28:58

logic doesn't make sense and you're just

play28:59

kind of pulling things out of thin air

play29:01

to try to tell a story they can they can

play29:03

see that but if if what you're saying um

play29:07

really shows that like you've thought

play29:08

this through and you can foresee trends

play29:10

that are coming in the future you've

play29:12

learned from you know what's been

play29:13

happening in the market previously and

play29:15

you you really see um the need for this

play29:17

and why the timing kind of makes sense

play29:19

then it just like further underscores um

play29:21

your value I think you know most of a

play29:24

pitch again at a very early stage is

play29:26

subjective because you haven't done the

play29:28

yet so you know even even your

play29:30

financials it's just a guess right um

play29:32

and so I think all they all that that

play29:35

does is is show that you know how to

play29:37

think about the market um and that you

play29:40

qu you can kind of do almost a SWAT

play29:42

analysis to see okay well um these are

play29:45

the reasons that this could be

play29:46

successful and then that links to also

play29:49

you know when you talk about potentially

play29:50

competition or or uh challenges uh that

play29:53

you foresee in the market right like

play29:54

they just want to know that you've sort

play29:56

of done that thinking um because that's

play29:57

what required as a

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Founder awesome thanks hopefully it

play30:04

helps and another

play30:07

question Andrew Andrew is very glad that

play30:10

you are

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here Barber games based in uh out of

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Atlanta eort Capital we focus on Kenya

play30:19

East Africa what touch points are

play30:21

investors you have come across picks

play30:24

their interest in the Kenyan

play30:26

Market

play30:28

uh oh wow uh it depends on the it

play30:34

depends on the industry I guess I

play30:35

actually know a few people working in in

play30:37

the gaming space um the gaming space is

play30:39

cool in Africa because it's super

play30:41

popular uh I think the the biggest thing

play30:44

with something like that is volumes

play30:46

right and that's why like fintech and

play30:48

payments businesses tend to be so

play30:49

compelling because you can really see a

play30:51

path toward revenue and profitability

play30:53

when you're talking about very very

play30:54

large volumes um I think especially for

play30:57

something like G it's not a huge cost

play30:59

right so there's enough people that have

play31:00

disposable income that can participate

play31:02

in these types of things and pay for

play31:04

them that makes it really interesting um

play31:06

and there's like not a ton going on in

play31:09

these markets right so if you can really

play31:12

create something that captures attention

play31:14

and gets a lot of people involved um

play31:15

then you have a very captive audience um

play31:18

at a high volume that that has a lot of

play31:20

potential so yeah I think that that

play31:22

space is cool that that that's what I

play31:23

would talk about is like you know the

play31:25

the interest that Kenyans have in online

play31:27

games the volumes um that sort of

play31:31

thing yeah that was quite specific and

play31:35

uh few people are asking if you can

play31:39

share a little bit more about P basic

play31:43

sure sure yeah I'm happy to to take them

play31:46

through that do you want me to do that

play31:48

now briefly okay that's fine um where

play31:54

was I here okay yeah so I'll try to go

play31:57

through this a little bit

play31:59

quickly um yeah so I think you know as I

play32:05

said before um something you want to

play32:07

start with and maybe this isn't part of

play32:08

your typical pitch deck but like what is

play32:11

this un undeniable shift in the world

play32:13

that has happened like what what are you

play32:15

going to grab these people's attention

play32:17

with in the first few seconds that

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you're speaking with them um so that

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they're interested they're curious um

play32:23

and they're agreeing with you right this

play32:25

is an example from Spotify actually and

play32:27

their original one of their original

play32:28

pitch decks um that it's a quote from

play32:31

David Bo obviously but music itself is

play32:33

going to become like running water or

play32:35

electricity it's going to become so

play32:37

ubiquitous that everybody is going to

play32:39

need it and so if you aren't investing

play32:41

in us the company that's going to bring

play32:43

people this music infrastructure um then

play32:46

then you're going to miss out right on

play32:48

on essentially funding the next water

play32:50

electricity so it's like those types of

play32:52

things um but then obviously okay your

play32:55

Basics your clear problem statement

play32:57

right well what is it that you're

play32:59

solving um and what about the shift

play33:01

you've mentioned is going to create

play33:02

winners and losers which makes um you

play33:05

know which creates this problem that

play33:07

needs you or your Innovation to solve um

play33:10

so this is an example from Dropbox again

play33:12

way back in the day visuals by the way

play33:15

always a helpful Aid um storage at the

play33:18

time this is is H Computer storage is a

play33:20

mess um that's all they needed to say

play33:22

and then these are the pain points right

play33:24

in 2007 it was still a pain work on

play33:26

multiple computers share files etc etc

play33:29

right this is why a company like Dropbox

play33:32

needs to exist the businesses that um

play33:35

are still operating on this system are

play33:37

going to lose out to any businesses that

play33:40

adopt a new storage system right who can

play33:42

save all these time and resources Etc

play33:45

dealing with all of this stuff um this

play33:47

is an example from Stitch from my

play33:49

company um this is a problem we talk

play33:51

about so connecting businesses to the

play33:53

financial system is difficult slow and

play33:55

expensive and once connected businesses

play33:58

face challenges with scale and

play33:59

efficiency and ultimately it limits

play34:01

their their customer reach and creates a

play34:03

bad experience for their customers so we

play34:05

are solving this problem by building a

play34:07

better more efficient and more scalable

play34:09

payments infrastructure right um so

play34:11

again the clear solution and the

play34:13

solution has to then address all the

play34:15

pain points or elements that you

play34:17

identified in the problem statement um

play34:19

so that it makes sense as to why this is

play34:22

the solution for that problem right um

play34:24

so again going back to Dropbox um

play34:27

Dropbox has was created to keep files in

play34:29

sync backed up accessible and it just

play34:32

works um Stitch this is this is how we

play34:36

talk about our solution but we're a PSP

play34:38

we're a payment service provider um and

play34:40

we're essentially creating that

play34:41

connection that we mentioned is

play34:44

difficult to to create right um between

play34:48

Merchants between customers and between

play34:51

the financial infrastructure um don't

play34:54

forget also to show the product I think

play34:56

again especially for like a tech company

play34:58

but it doesn't matter what um you know

play35:01

they almost won't like won't believe

play35:03

that it's real if they can't actually

play35:05

see it right so dashboards or um this

play35:08

this is this is a cool example that that

play35:10

we use to to help people visualize

play35:12

because with payments infrastructure

play35:14

it's very difficult you can't see a lot

play35:16

right you can see dashboards you can see

play35:18

like what the flow looks like but

play35:19

otherwise it's really just backend

play35:21

infrastructure so um when we were

play35:23

pitching clients uh a few back during

play35:26

the the World Cup actually the these are

play35:28

like a I mean a rendering of supposedly

play35:30

what messy's uh cleats look like and so

play35:34

the way that we were trying to explain

play35:35

how um precisely engineered our solution

play35:39

is to help you know make sure that

play35:42

payments are reliable and and come

play35:44

through eff efficiently Etc is we kind

play35:47

of compared it to to the way that a

play35:48

cleat is designed where every single

play35:50

angle every you know the fabric that's

play35:53

used the shape of the toe the the

play35:55

material used to create the toe

play35:58

and combined with like the angle at

play36:00

which messy kicks all have a slight

play36:03

impact on the direction that the ball

play36:05

goes right and the speed that the ball

play36:07

goes and therefore his ability to score

play36:09

um and so you know comparing this to

play36:12

payments infrastructure it's like any

play36:13

small tweak that you make the

play36:15

engineering in the back end when you're

play36:16

talking about lots and lots and lots of

play36:18

payments at scale can make a huge

play36:20

difference in in your you know um

play36:23

acceptance rates and your your

play36:24

reliability and stuff like that so

play36:26

always helpful to use some sort of like

play36:28

Familiar of the time analogy to help

play36:31

people understand how you're really

play36:32

thinking about um some of like your

play36:34

unique selling propositions right

play36:36

another example Airbnb easy one right

play36:38

just like show them what it looks like

play36:40

um the wine now side which we talked

play36:42

about um this is another example all

play36:45

companies are turning into digital

play36:46

product businesses so you don't want to

play36:48

be left behind um this is the time to

play36:50

sort of jump on this bandwagon um this

play36:53

is a why now slide from drop Dropbox um

play36:56

why now because there's a lot of devices

play36:58

that are being created which have bigger

play37:00

files and more and more and more content

play37:02

they're increasingly distributed in

play37:04

remote teams uh bandwidth is a challenge

play37:06

online storage is is basically at the

play37:09

time it was like a wideopen opportunity

play37:11

there were no real competitors in this

play37:13

space and so they're saying we could be

play37:15

like the Google right of of of storage

play37:18

um and then you have your competition um

play37:20

and other current Solutions so

play37:23

again I think we always think of the

play37:25

typical uh competition side of like you

play37:27

know your business and like all the ones

play37:29

doing exactly the same thing and we have

play37:31

this they don't have this etc etc and

play37:33

that's fine but I would encourage you to

play37:35

think about competition as as a lot

play37:37

broader so it's not just exact

play37:40

businesses doing the exact thing you do

play37:43

but rather what are your Target

play37:45

customers doing right now to solve this

play37:47

problem so what are the other solutions

play37:49

that may not even be Tech Solutions or

play37:52

you know or startup Solutions how are

play37:54

they solving this problem right now

play37:55

because that's also what you're

play37:56

competing with and a lot of times back

play37:58

in the day with you know things like

play38:00

inventory Management Solutions or you

play38:02

know solutions for small businesses one

play38:05

of the competitors was always like Excel

play38:07

like people are still you know tracking

play38:09

transactions and inventory on Excel um

play38:12

CRM Solutions Etc so um that's not a

play38:15

direct competitor but it is certainly a

play38:16

solution people are using so just you

play38:18

know always important to keep that in

play38:20

mind again example from Square um and

play38:24

and this is sort of the value to the

play38:26

user um they're comparing themselves to

play38:28

traditional card processing firms

play38:30

because that's essentially what they are

play38:32

um versus online card processing uh

play38:34

companies um H yeah and then talking

play38:37

about defensibility H and then this is

play38:39

them versus you know direct competitors

play38:41

versus um versus competitors that are

play38:44

kind of coming into the space right back

play38:46

when Apple and Google were building

play38:47

Apple pay and Google pay um that that

play38:49

they foresaw could become potential

play38:51

competition um and this was an example

play38:55

presentation I did in um Tunisia but

play38:57

this is an example of a a company called

play38:59

swivel it's uh you know ride sharing and

play39:03

so this this is again at a later stage

play39:06

um because this is at the row stage how

play39:07

they compare to to others in the market

play39:09

um and then target audience size of

play39:11

target audience so um show that you have

play39:14

an understanding of how many of these

play39:17

types of customers exist in your Market

play39:19

um who they are and what their needs are

play39:22

that you think you can address but also

play39:24

like use cases so this is an example

play39:25

from I Uber it's been a little bit

play39:28

diluted I think but um these are all the

play39:30

use cases that when Uber was originally

play39:32

pitching itself it it thought you know

play39:35

could could make sense so okay you know

play39:38

your target market is essentially

play39:40

anybody that ever needs to go anywhere

play39:41

right so that's really hard to talk

play39:43

about um so you can say things like okay

play39:45

probably younger people more tech savvy

play39:47

Etc but like to help them visualize all

play39:50

the ways in which this product could be

play39:51

used it was okay let's talk about trips

play39:53

to and from restaurants uh trips to the

play39:55

airport local transport Etc right so use

play39:58

cases are super important then of course

play40:00

markets as an opportunity I think um

play40:03

this slide sometimes of often gets

play40:05

forgotten but I like to put this just

play40:07

before just after your your business

play40:09

model slide where you talk about how

play40:11

you're going to make Revenue so are you

play40:13

a subscription business how much are you

play40:15

charging um how much is your customer

play40:17

potentially going to pay you um because

play40:20

the investor can kind of very quickly do

play40:21

the math in their head to say okay well

play40:23

based on the market size that you told

play40:25

me you have um and the number of

play40:27

businesses that you can reach a number

play40:29

of customers you can reach with this and

play40:30

this is how much you're going to make

play40:31

per customer I can kind of start to

play40:33

visualize okay well this is how much you

play40:34

could potentially making first you know

play40:36

year Etc um so this is an example from

play40:39

Airbnb again um if there's almost two

play40:42

billion trips booked worldwide um half a

play40:46

million of them are our budget are

play40:48

online um and then this is how much we

play40:50

think we can take up that market type of

play40:52

thing um then of course again business

play40:55

model and financials um so

play40:57

this was very simple they take a 10%

play41:00

Commission on each transaction and by

play41:02

the way here is what the average size of

play41:05

those transactions looks like right so

play41:07

an average fee that they would take

play41:09

again this is way back in the day on an

play41:11

$80 a night stay um at an average of

play41:14

three nights is $25 so they have that

play41:17

data because they already had some

play41:18

customers at this point and so they can

play41:20

show this is how much projected Revenue

play41:21

we have um and then of course very

play41:23

important your team and your team

play41:25

strengths I think it's not necessary to

play41:27

write a ful life bio of your team on the

play41:29

slide for sure but like pick out the

play41:31

pieces of who you are in your experience

play41:34

that are super relevant to what it is

play41:36

that you're building and if you have you

play41:38

know logos of places that you've worked

play41:40

before you can put those on there type

play41:41

of thing um but I think this is where

play41:43

you really want to show hey we have like

play41:45

all the skill sets necessary to bring

play41:47

this to life um and then depending on

play41:50

how you know late the businesses do you

play41:52

have any attaction that you can show do

play41:54

you have endorsements for example um uh

play41:57

you know client testimonials Etc that

play42:00

that of people that have already used

play42:01

the product um that you can show so

play42:04

again quick example here um Airbnb I

play42:07

think or yeah Airbnb which was at the

play42:10

time called air bed and breakfast um

play42:12

yeah like what can you show to to to

play42:15

help these people understand that like

play42:17

hey people really like this thing and

play42:18

we're already um Making Waves here right

play42:20

um and then finally like your your road

play42:23

map so what's happening next and I think

play42:26

a road map can be looked at from two

play42:27

perspectives the the product road map of

play42:30

like here are the next few things we're

play42:31

going to build or the next maybe

play42:32

geographies we're going to expand into

play42:35

and your your your business or business

play42:37

model road map of like here are the new

play42:39

revenue streams that we foresee or the

play42:40

new Target markets that we think we can

play42:42

enter um or Target segments we think we

play42:44

can enter um and yeah this example of

play42:48

Kareem but you kind of get the idea

play42:50

right where first we're going to start

play42:52

in this market um do a land grab then

play42:54

we're going to launch a consumer product

play42:56

then we're going to start scale

play42:57

regionally and then we're going to grow

play42:58

in other vertical Etc um oh yeah and

play43:01

then your mission and vision of course

play43:03

how are you going to get people inspired

play43:05

um to to join so this is this is our

play43:07

mission at Stitch um our our overarching

play43:10

goal is to build a financial system that

play43:12

works for everyone and and this is

play43:14

something that is true uh and will be

play43:17

true in our current market in future

play43:20

markets when we build more Payment

play43:21

Solutions right it's sort of like the

play43:23

overarching thing that drives um us

play43:26

totally as it is business and I think

play43:28

that's it wow that was pretty detailed

play43:31

thank you for taking the extra mile to

play43:35

add this uh to your presentation and uh

play43:40

everybody is loving

play43:42

it the reactions uh so it's almost the

play43:47

top of the hour so I think we have uh

play43:50

time for just couple more questions and

play43:53

just a quick reminder for everyone uh

play43:56

you will receive the recording within 48

play43:59

hours and you can find also Tia's

play44:03

contact connect to her and learn more

play44:05

about her company Stitch so last two

play44:09

questions they are also in that line of

play44:13

thinking how important are the graphics

play44:16

you mention that but not the in

play44:19

particular um new generation p TS tend

play44:23

to be image list yeah so I I would say

play44:28

what you should do is you should

play44:29

actually have two versions of your deck

play44:31

always so there's a version of your deck

play44:32

that you present when when you're there

play44:34

in person and you're speaking and then

play44:36

there's a version of your deck that

play44:37

you'll send afterward the version you

play44:39

send afterward should have more

play44:41

explanation more text more information

play44:44

because this is something that an

play44:45

investor will come back and look at

play44:47

later or share with other people who

play44:48

maybe weren't there when you were

play44:49

presenting um so that's important but

play44:52

when you're actually presenting you want

play44:54

them to be paying attention to you right

play44:56

and a little bit less to to the deck

play44:57

itself I think the unfortunate reality

play44:59

is like we're all human and so if if an

play45:02

investor is presented with decks of two

play45:04

companies that are in all their ways

play45:07

pretty much the same or similar but one

play45:09

is like much better designed than the

play45:11

other naturally they may they may you

play45:14

know uh lean toward that one so I think

play45:16

um you always want to put your best foot

play45:18

forward and always want to make sure

play45:20

that what you're presenting is clean

play45:21

that it's um you know like well done and

play45:25

and graphically thought through and

play45:26

there's a ton of tools online that can

play45:27

help you with this um but I'd say like

play45:29

don't underestimate the power of of good

play45:32

and solid design and Graphics to help

play45:34

you with this um because it just kind of

play45:36

makes you look that much more

play45:40

professional H yes so there are like few

play45:45

versions and there was one more uh

play45:49

question okay yes uh also please uh vote

play45:52

when you're adding questions please vote

play45:54

for the questions so we know

play45:57

uh which ones to ask and more people

play46:00

want to know uh okay so let's just pick

play46:04

one

play46:06

last

play46:09

um okay

play46:13

um let's

play46:15

do this one if investors did you for

play46:20

asking for advice great uh disqualifying

play46:24

test if you don't want that investor

play46:26

investor is are human but so our

play46:28

Founders so if you find arrogance or

play46:30

this myness from the investors that is a

play46:34

real reason to say next but that's not

play46:35

really a question maybe you can add your

play46:38

comment no but it's it's true right like

play46:40

I said it's a it's a two-way street so

play46:42

you are essentially interviewing them as

play46:44

much as they're interviewing you because

play46:46

if successful they'll be part of your

play46:48

business and part of your company for a

play46:49

long time so I'd say um yeah I I

play46:52

completely agree with this um you know

play46:56

also

play46:57

kind of think about the fact that

play46:59

investors probably do get a ton of

play47:01

requests and things sent at them all the

play47:02

time so if they decline a meeting it may

play47:05

not necessarily be because they're not a

play47:07

good investor so kind of just sus out

play47:09

the situation and and the tone um but

play47:11

agree that you should always be also

play47:12

considering who they are as a

play47:16

person yes so fair enough uh and tia

play47:20

before we jump into the networking loue

play47:23

is there something that we didn't ask

play47:25

you and would like to

play47:28

add as for the final of today's

play47:32

event yeah I think a lot was said it's a

play47:34