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This episode is a business coaching course that provides information on writing a pitch deck.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Editor's Note: Step 6 - Write A Pitch Deck for Yourself.
  • Recommended Reading:
    -by Naval Ravikant
  • Notable Quotable: “Our favorite deck template comes from David Cowan at Bessemer Venture Partners. You can find other templates, but this is the best.”
    -Venture Hacks
    (They founded Angel List.com and are known for the writing of Pitching Hacks.)
  • Editor's Note: To get all FREE downloadables, email us at: info@thrive15.com
  • Lesson Nugget: Check out the training entitled, "The 12 Steps To Building A Business Plan" on Thrive15.com
  • Lesson Nugget: Writing A Pitch Deck Steps: 1. Cover. Include your logo, tagline, and complete contact information.
  • Lesson Nugget: 2. Summary. "Summarize the key, compelling facts of the company. Make sure you cover all the topics that are in your elevator pitch — in fact, just steal the content from the elevator pitch."
    ( - Pitching Hacks)
  • Lesson Nugget: 3. Team. "Highlight the past accomplishments of the team. If your team has been successful before, investors may believe it can be successful again. Include directors or advisors who bring something special to the company. Don’t include positions you intend to fill — save that for the milestones slide. Put yourself last: it seems humble and lets you tell a story about how your career has led to the discovery of (your opportunity)."
    ( - Pitching Hacks)
  • Recommended Reading:
    -By Donald Trump and Bill Zanker

- Okay, step number six, write a pitch deck for yourself. Okay so Clay, I'm gonna read this quote from Venture Hacks, okay, they're the group that founded angellist.com and they're known for the writing of the book, Pitching Hacks. Okay, so they're one of the best people to learn from for creating a pitch deck. - AngelList is the most frequently used website for people trying to raise money in Silicon Valley, and these guys have done very, very well. And they wrote a book teaching you how to specifically raise money from venture capital and it's a phenomenal book and I love the book. And I encourage everybody, and yourself included, to go through the process of making yourself a pitch deck, because a pitch deck, AKA an abbreviated business plan, will force you to be disciplined with your thinking, force you to refine it. It's like if you had an idea to build a house but you know you have to make a blueprint. By the time you get the blueprint done you're kinda like and I probably don't want the bathroom over there, I do probably want it over there. And I probably don't want the deck there because the sun comes up over here and that would block the view of this, and you start thinking through all the details. You're like the drainage it can't be here because of that, and I probably want my pool here, and you start to get in to the details, and too often as an entrepreneur we're out there thinking in the broad and this will force you to dial it in. So, Marsh I'll let you tee it off. - So they very subtly say this, our favorite deck template comes from David Cowan at Bessemer Venture Partners, okay. You can find other templates but this is the best. - Absolutely, this is like, Thrivers we have a specific training, you can download a pitch deck downloadable we have available for you. We have that available, you can download that Just email info@thrive15.com. We have one for you as a template. But, you gotta go get this book. This book is phenomenal, it's called Pitching Hacks. It's going to blow your mind. - So we're going to do a brief overview for everybody here, and cover all of the different points that are included in the pitch deck, so if you want to learn more go check out the training, The 12 Points to Building a Business Plan, it's on the site, but we're gonna just briefly cover the 12 points here. So the first one is the cover, okay. - Yeah, you wanna include the logo, you wanna include your tagline and complete contact information for you. Why? Well, that's going to force you to get an email address that's for your book. That's going to force you to have a phone number you want people to call. That's going to force you to actually make a logo. That's going to force you to get detailed. So that's where it starts to get real. Alright? So, step two. - Okay, number two, the summary. Summarize the key compelling facts. Okay, so Clay get into this for me. - Yeah, you want to make sure the cover you, on the cover you cover all the topics that are in your elevator pitch. It's just that you, what you're trying to do is you're trying to quickly, an elevator pitch is like two lines or less, three lines or less, what is your book about, what is your product about, what is it that you do. If you're in an elevator with somebody you're going from floor six to floor one, you go boop, and you go down. Can you explain that idea to him in a way that makes sense on the way down the elevator. That's what that means. Makes sense? - Yeah. Okay, so then the third thing, team. Clay, get into team for us. - Well, the team you want to highlight the past accomplishments of the team. If your team has been successful before investors may believe that they can be successful again. Include directors, advisors, or bring something special to the company, don't include positions you intend to fill. Save it for the milestones slide, but put yourself last. It seems humble and lets you tell a story about how your career has led to this discovery of, you just want, that's what you want to do, that's it right there, I mean these guys are nailing it. This is how you do it. So your team, you want to have pictures of your team on there. So, my book, I'm writing my book yadda yadda. That sounds okay, but you say the book that we're writing, it features medical advice from doctor such-and-such, one of the premier writers in America. It includes a forward by yadda yadda, a guy who won Tour de France back in 2000 and whatever. It includes this, that, it includes an Olympic cyclist, or whatever, and you get into it and now people are like, oh wow, your book is something I wanna check out. The best example though, again, of that I've ever seen, ever is the book, Think Big and Kick A-S-S, by Donald Trump. Look that book up, because you're going to see in there, that it's not really Donald Trump who wrote that book, but that author was able to capitalize off of that endorsement, that team.

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Lesson Nugget: 4. Problem. "Describe the customer, market, and problem you address, without getting into your product. Emphasize the pain level and the inability of competitors to satisfy the need."
    ( - Pitching Hacks)
  • Lesson Nugget: 5. Solution. Introduce your product and its benefits and describe how it addresses the problem you just described. Include a demo such as a screencast, a link to working software, or pictures. God help you if you have nothing to show.
    ( - Pitching Hacks)
  • Lesson Nugget: Your pitch deck arguably is the single, most important document that you will generate in the life of your company.
  • Lesson Nugget: 6. Technology. "Describe the technology behind your solution. Focus on how the technology enables the differentiated aspects of your solution. If appropriate, mention patent status."
    ( - Pitching Hacks)
  • Lesson Nugget: 7. Marketing. "Who are the customers? How big is the market? You summarized this in your Problem slide and this is your opportunity to elaborate. How are you going to acquire customers? What customers have you already acquired?"
    ( - Pitching Hacks)
  • Lesson Nugget: 1. Each Point should be one page. 2. Do not have more than 200 words on any single slide.

- The next thing that you want to include in the pitch deck is the problem. A slide or part of the deck that captures the problem. Clay, what is that? - Describe the customer, the market, the problem you address without getting in to your product. Emphasize the pain level and the inability of competitors, AKA other book writers, to satisfy the need. You just have to explain who's this book written for? And it's going to force you to again go, who's it written for? It's just, these are all disciplines you're getting it, you can probably see it get more and more defined. Okay, next one. - Okay, so the next one is the solution. Okay, so Clay, the solution. You have the problem, then you have the solution. Break that down for me. - I went out to dinner the other night with somebody who made me want to staple my inner thigh, because I thought it would be less painful than to hear them continue to talk. And they're great guys, and I felt awful, but there's a big old group of guys, a lot of guys, and they're talking and they're so excited to meet. A lot of guys. And I'm just, I felt bad cause they're not doing this. They literally only talked about the problem. So they're like, you know if you look at the world today the problem we have is this, there's a problem with this, nutrition this, nutrition that, there's a problem with nutrition. There's a big problem with nutrition. There's a big gap in nutrition. And you're just going, hey I agree. You've said that 18 times, all the statistics make sense, but how are you going to solve it? Well, that's why we're here to meet with you. We wanted to pitch our idea. What's your idea? Their idea was just list of problems. So I So, introduce your product and its benefit to describe how it addresses the problem you just described. Include a demo such as a screencast, a link to the book, maybe a link to the software, or pictures. God help you if you have nothing to show. That was the hard part with Thrive15, I'm being real. We've spent millions building Thrive15 and that, I'm just telling you this, that was the only part, I couldn't do it. I couldn't show a working software. That was, I mean I'm just telling you, you talk about God helping ya. I went through, and I'm not exaggerating, over 400 presentations on my spreadsheet. 400, just think about that. I spent a little over two years just sharing this idea. My wife and I were able to self-fund quite a bit, and then we needed to get extra investors in there and I had nothing to show. So I had to start to go, well what could I show? So we ended up having like a video mock-up, and we had a mock-up website that didn't work, and then we had a video mock-up, and showing how we needed money to build it. So, that's how it worked. - Okay, the next is technology. Include a part on technology, so Clay why's this? - This is a bonus gift for you. I'm giving it to you right now, this is gonna be fun. Marshall and I and the team have talked about it, and it wants you to go through all this. We are going to build a website for you if you want us to, and we will pay for all the costs, no cost for you at all. And we're going to make it look like it's the best in the world. Now, so once you've done all the work we'll do it for you, but the technology has to tie in. And so, if you buy a copy of 4-Hour Workweek, he's the best I've ever seen at this. So he'll say, in the book on chapter two or something, he'll say to download the complete nutritional guide on yadda yadda go to fourhourweek.com, or on chapter three he might say, for a great tool to estimate how many calories you can eat per day go to fourhourbody.com. And he just keeps driving you back to the site. So what happens is, he's creating this loop and then when you go in the loop enough you eventually want to share what you're learning or the graph, or the infographic, or the tool with someone else. And it's created that viral growth, and he's literally gone from an author right out of college to becoming a world-class investor, the top podcaster in America right now. I mean, he's just done great. So, Tim Ferriss 4-Hour Workweek. Look at what he's doing, but we have committed here on the Thrive team to build that for you, for you taking the time out to be here and it won't cost you a dime, and it'll probably save you $10,000. So there you go. - Okay, the next thing to include is marketing. Marketing, how are you gonna do marketing? - Who are the customers? How big is the market? You summarize this in your problem slide and this is your opportunity to elaborate. How are you going to acquire customers? What customers have you already acquired? You've gotta, you say, you see this is the part people don't get. So, you mean what customers have I already acquired? I haven't acquired any customers yet cause it's a brand new product. That's why you want to sell it before you've actually made it. So that's why, I'm just telling you, you need to define the marketing. When you go through this process, each one of these should be a page of a PowerPoint. So I'm gonna give you some hard rules. You can't have, on any of these slides if at all possible, more than 200 words on any slide, period. As few of words as possible, so each one of these slides should be one page, should have 200 words or less on every page. It'll force you to have really clean, simple thinking. You don't wanna have a long, laborious, something that someone's not gonna read.

Featured Coaching Excerpt - Notes & Transcript, Part 3
  • Lesson Nugget: 8. Sales. "What’s your business model? If you have sales, discuss the sales you’ve made and your pipeline. What are the microeconomics and macroeconomics that turn your business into a $X million revenue business? Emphasize the microeconomics (each user is worth $1/year because) instead of the macroeconomics (if we can get 1% of a $10B market)."
    ( - Pitching Hacks)
  • Definition Magician: Macroeconomics is the field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.
  • Definition Magician: Microeconomics is the branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households.
  • Lesson Nugget: 9. Competition. "Describe why customers use your product instead of the competition’s. Describe any competitive advantages that remain after the competition decides to copy you exactly. Never deny that you have competitors — it's okay to compete. Against anyone."
    ( - Pitching Hacks)
  • Lesson Nugget: You need to know who your competition is.
  • Lesson Nugget: 10. Milestones. "Describe your current status and prospective milestones for the next 1-3 quarters for your product, team, marketing, and sales. Use a table with the quarters on the x- axis and the functions on the y-axis. Also include quarterly and cumulative gross burn (your expenses, assuming zero revenue) for the next 1-3 quarters. Don’t build a detailed financial model if you don’t have past earnings, a significant financial history, or insight into the issue. What hypotheses did you test in the last round of financing and what were the results? What hypotheses will you test with this round?"
    ( - Pitching Hacks)
  • Hammer This Home:
  • Editor's Note: My version of a ManBearPig...

- The next is sales, okay? Clay, break down sales, marketing, what's the difference, sales. - What they're talking about in this perfect pitch deck okay, it's what's your business model? If you have sales, discuss the sales you've made in your pipeline. What are the microeconomics? The macroeconomics? That turn your business into x million revenue. Emphasize the microeconomics. Each user is worth blank dollars per year, instead of the macroeconomics, meaning that the market is 10 billion. So example, macro would be like the cycling industry is a two billion dollar industry and if I just get even half a percent of that, I'll have a million dollars. Great, you've done math. That's exciting, you have a calculator, good. But you want to focus on hey this is how much money I make per customer. And this is how I'm gonna go get those customers. So you wanna just break that down, and again, it just forces you to have refined thinking so you know how much money it's gonna cost you, you have thought through all this. You know, cause a lot of people, you want to have a goal. A lot of people say if I sell enough copies of this or if I open this restaurant, I'll retire. Okay, well how many customers do you need per day? To afford retirement? Uh, well in Tulsa, there's like people that spend five million dollars a week on food. Okay, well how much money do you make per customer? I don't know. This enforces you to really think at that level. Is that making sense? Yes. Okay, next one Marshall. Okay, the next one is competition. Include a slide on competition. Oh yeah, this is fun. One of our competitors recently signed up for a Thrive15.com account. And let's just say, Marshall, it was amazing. And so the thing is is that he is our competitor and even though we share the last name, I'm pretty sure we don't share the same fathers but the main thing is like I applaud the guy because he's looking in, trying to figure out how he can make his stuff better and you know what? We're doing the same deal. We wanna know how we're making, you know, it better too. It's a game, right? Because Picasso, our main man Picasso, is like hey, you know, steal whatever you can. The main thing is you have to know who your competition is. So who our there is writing a book right now like yours that is gonna beat you to the marketplace. Find out who they are and beat them. And it really is competitive. People who are not competitive struggle in the marketplace because unless you're in the micro brewery industry AKA Augustine, one of our Thrivers, I can't find very many industries where competitors want to work together. So in the micro brewery industry, there's Anheuser-Bush, there's, you know, Coors, there's massive companies and they own like 95% of the market share. So all these little local breweries are like hey let's all team up together and promote these local beers and, these local Kraft beers, and we'll see if we can beat the big guys. But as the general rule, if you go out there and write a book, somebodies trying to eat your lunch. So you've got to really kind of get competitive and go okay, I've got to make it the best it can possibly be so that's how you do it. - The next part to include in the pitch deck is milestones, okay a slide on milestones. What are these and how do I include them? - It's basically your timeline. And you wanna say this, you wanna describe your current status and perspective milestones for the next one to three quarters, AKA nine months. Uh, your team, your marketing, your sales. Use a table with the quarters on the X-axis and the functions on the Y-axis. Also, include quarterly cumulative gross burn. What your doing is your saying this is how much I'm going to spend this week to market my book. Then, this week I hope to have this many sales by this week. And somebody says well it's a waste of time even doing that because it's not going to be accurate. I disagree. Uh, you know, the United States, we have a constitution. It says in that constitution there's certain freedoms that we have. Do we live up to our own ideals? No. I think we've talked, in the Declaration of Independence there's a lot of things in there where it says we're leaving England to start our own country because King George taxes us, you know. He enters us into wars without our consent. He, if you read that, you'll discover a lot of things that bothered us back then. We are now doing now and so we're going back to these same issues we had with King George, we're doing to ourselves. But because that document was written, we can go back to it and say guys do you not see the parallels of how we are repeating history? Let's not go back there and hopefully some people will read that document, refresh it and go hey we are falling short of our ideals. Also, marriage vows, it doesn't mean that I mean the marriage vows is through sickness or death and you're supposed to be with your spouse and I could just say that, you know, you're supposed to love your wife and Corinthians, turn the other cheek and you're supposed to edify her and praise her and then like, you know, you've been married 16 years and you wake up and someone's breath smells weird and last night they were going off on a tangent about something and my wife has to look at me and go I'm waking up next to a man bear pig. And then she has to refresh in her mind about those ideals and decide whether it's worth it. And thankfully, my wife has lost all vision. She can't see me and so I'm able to stay married year after year by tricking her. But the main thing is you have to get your ideals down here because every quarter, you have to go back to it. So this weekend, I'm doing actually budgeting for Thrive stuff and I hate doing it because it's just so laborious but I have the spreadsheet and I look at all the costs and then I go well how in the heck did we do that? There's a tool out there. I'm sure it's good but I won't mention the name because it's a good company I'm sure but Matt calls me, our CFO, and he's like hey do, are you using this account? And I'm going what account? And it's like 100 bucks a month and I'm going I didn't sign up for that. And he goes I didn't either, who did? Well we find out that a person who no longer works here, who was given a little expense budget went ahead and used the credit card to sign up for a tool they thought would help us and never, not even one time, used it. And we've paid like you know 600 bucks for it. So then you have to like cancel it, pull it back and that's what you're gonna do with your marketing. You're gonna, cause every one of these advertisers will come to you with a good idea and if you're not careful, you'll start doing everything and you'll get way out of line with your budget. So that's how it works.

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