Lessons Learned at Prashant Shah Managing Director - - PowerPoint PPT Presentation

▶
lessons learned at
SMART_READER_LITE
LIVE PREVIEW

Lessons Learned at Prashant Shah Managing Director - - PowerPoint PPT Presentation

Jun 19, 2023 475 likes •798 views

Lessons Learned at Prashant Shah Managing Director www.tielaunchpad.com My Background Managing Director, TiE LaunchPad TiE Board Member TiE Angels, Co-chair Screening Committee with Salman Hummer Winblad Venture Partners

slide-1
SLIDE 1

Prashant Shah Managing Director www.tielaunchpad.com

Lessons Learned at

slide-2
SLIDE 2

My Background

  • Managing Director, TiE LaunchPad

– TiE Board Member – TiE Angels, Co-chair

  • Screening Committee with Salman
  • Hummer Winblad Venture Partners
  • Corporate and Startup

– enCommerce (acquired by Entrust) – Cypress Semiconductor – AT&T

  • MBA University of Chicago Booth School of Business
  • BSEE University of Illinois Urbana-Champaign
  • www.linkedin.com/in/shahp

2

slide-3
SLIDE 3

TiE Overview

  • Global non-profjt for promoting entrepreneurship
  • Founded 1992 in Silicon Valley

– Indus roots but open to all regardless of background – www.tiesv.org

  • 61 chapters in 17 countries
  • Programs include workshops, mentorship & funding
  • TiEcon: May 16 & 17

– “Among the 10 best entrepreneur conferences” – Worth Magazine (with TED, WEF, SXSW, DEMO…) – www.tiecon.org

  • Organized by Charter Members (CMs)

3

slide-4
SLIDE 4

Charter Members (CMs)

4

  • Invite-only membership for successful entrepreneurs and execs who volunteer to give back
  • 300 CMs in Silicon Valley & 2,500 globally
  • Adithya Padala – Umevoice
  • Anand Rajaraman – Walmart/Kosmix; Junglee
  • Asha Jadeja – Angel; DotEDU Ventures
  • Ashu Garg – Foundation Capital
  • Atul Garg – BMC/ProactiveNet
  • BV Jagadeesh – Okarina; 3Leaf; Ankeena
  • Jay Vijayan – CIO Tesla Motors; VMware
  • Jayesh Parekh – Sony Entertainment
  • Kailash Joshi – TiE; Lexmark, IBM
  • Kamal Anand – Meru Networks; FORE Systems
  • Kanwal Rekhi – Inventus Capital; Novell; Excelan
  • Kumar Sripadam – Bluewave; Redback Networks
  • Karl Mehta – Menlo Ventures; Playspan/Visa
  • Kumar Malavalli – InMage Systems; Brocade
  • Mohan Uttawar – OncoMDx
  • Neeraj Gupta – Cervin Ventures; Patni; Cymbal
  • Nimish Mehta – LumenData, SAP, Oracle, Seibel
  • Prashant Shah – TiE LaunchPad, Hummer Winblad
  • Pravin Kothari – CipherCloud; Arc Sight/HP
  • Preetish Nijhawan – Cervin Ventures; Akamai
  • Purna Pareek – Fiserv/Advice America; Progress
  • Raj Judge - WSGR
  • Raj Nathan – SAP; Sybase; Pyramid Systems
  • Raj Sandhu – Angel; Soros Group; Cowen & Co.
  • Rajiv Patel – Angel; VP Engineering Juniper
  • Raju Reddy – Sierra Atlantic/Hitachi; redBus
  • Raju Datla – Cloupia/Cisco; Jahi Networks/Cisco
  • Ram Reddy – Angel; Global Industry Analysts
  • Rehan Jalil – WiChorus/Tellabs
  • Ronjon Nag – Cellmania/BlackBerry
  • Salman Azhar – Duke U., iSky, Azhar Group PE
  • Samir Mitra – CastIron; PrismCircuits
  • Sarv Tiakur – Enterprise Solutions; Aplisoft
  • Ullas Naik – Streamlined Ventures; Globespan Capital
  • Uday Bellary – Atrica; GreenVolts; Versant
  • Venky Harinarayan – Walmart/Kormix; Junglee
  • Vish Mishra – Clearstone; TiE President
  • Yogesh Agrawal – GM EMC; Symantec

Sample list of CM investors in TiE LaunchPad Fund

slide-5
SLIDE 5

TiE Angels

  • Forum of 150+ angel investors
  • 23 investments in past 3 years

– Mostly enterprise and medical devices – $250k typical investment; $50k to $1.2M

  • Active support after investment
  • Monthly dinner meetings (except May & December)

– 1st Monday: Application deadline – 2nd Monday: In-person screening – 3rd Monday: Investor dinner

5

slide-6
SLIDE 6

TiE LaunchPad

  • Offers access into the deep TiE network
  • 8 companies/batch, 2 batches/year
  • Batch duration 5 months
  • $50k convertible note per startup + 4% common
  • Tiree pronged approach

– Market validation – Dedicated Mentor – Curriculum

  • Optional space at TiE Silicon Valley in Santa Clara
  • Access to TiE programs and events
  • Goal: funding within 6 months of exiting LaunchPad

Applications now open for January batch – www.tielaunchpad.com

6

slide-7
SLIDE 7

Starting Point

7

Idea

slide-8
SLIDE 8

Starting Point

8

Idea Validation

slide-9
SLIDE 9

Starting Point

9

Idea Validation Pitch

slide-10
SLIDE 10

Starting Point

10

Idea Validation Pitch TiE LaunchPad expertise

slide-11
SLIDE 11

Idea (aka Value Prop)

  • Most enterprise startups target their idea for CxO.

11

slide-12
SLIDE 12

Idea (aka Value Prop)

  • Most enterprise startups target their idea for CxO.
  • But execs rarely use apps though often are benefjciaries.

12

slide-13
SLIDE 13

Idea (aka Value Prop)

  • Most enterprise startups target their idea for CxO.
  • But execs rarely use apps though often are benefjciaries.
  • Start with the precise end user.

– Know name, rank and serial # of the user. – Make a hero

13

slide-14
SLIDE 14

Idea (aka Value Prop)

  • Most enterprise startups target their idea for CxO.
  • But execs rarely use apps though often are benefjciaries.
  • Start with the precise end user.

– Know name, rank and serial # of the user. – Make a hero

  • Design “user grind.”

– What 2 to 5 steps does a user go through regularly? – Make it clean and productive.

14

slide-15
SLIDE 15

Idea (aka Value Prop)

  • Most enterprise startups target their idea for CxO.
  • But execs rarely use apps though often are benefjciaries.
  • Start with the precise end user.

– Know name, rank and serial # of the user. – Make a hero

  • Design “user grind.”

– What 2 to 5 steps does a user go through regularly? – Make it clean and productive.

  • Make the app personal for the end user, strategic for the exec.

– End user wants to fjnish the job and go home. – Must work in the trenches as well as have an upper level dashboard

15

slide-16
SLIDE 16

Idea (aka Value Prop)

  • Most enterprise startups target their idea for CxO.
  • But execs rarely use apps though often are benefjciaries.
  • Start with the precise end user.

– Know name, rank and serial # of the user. – Make a hero

  • Design “user grind.”

– What 2 to 5 steps does a user go through regularly? – Make it clean and productive.

  • Make the app personal for the end user, strategic for the exec.

– End user wants to fjnish the job and go home. – Must work in the trenches as well as have an upper level dashboard

  • Investors don’t like products that can be sold only to the high end, or only

to the low end

16

slide-17
SLIDE 17
  • Lean startup methodology

– Very good disciplined approach – Udacity Steve Blank free course – www.launchpadcentral.com

Validation

17

slide-18
SLIDE 18
  • Lean startup methodology

– Very good disciplined approach – Udacity Steve Blank free course – www.launchpadcentral.com

  • Tie two most important questions:

– Why will a customer make a decision, any decision? – Why will they pick you?

Validation

18

slide-19
SLIDE 19
  • Lean startup methodology

– Very good disciplined approach – Udacity Steve Blank free course – www.launchpadcentral.com

  • Tie two most important questions:

– Why will a customer make a decision, any decision? – Why will they pick you?

  • Validate every time you change your strategy,

not just at formation of startup. – Validate at new target market, e.g., SMB to mid market retargeting – Validate at new go to market, e.g., direct to SI channel change

Validation

19

slide-20
SLIDE 20
  • Lean startup methodology

– Very good disciplined approach – Udacity Steve Blank free course – www.launchpadcentral.com

  • Tie two most important questions:

– Why will a customer make a decision, any decision? – Why will they pick you?

  • Validate every time you change your strategy,

not just at formation of startup. – Validate at new target market, e.g., SMB to mid market retargeting – Validate at new go to market, e.g., direct to SI channel change

Validation

20

  • Validate. Don’t sell.

– Validate the problem, not the solution. – Be in learning mode. Not selling mode. – Is it worth spending the next 7 to 10 years on this?

slide-21
SLIDE 21
  • Lean startup methodology

– Very good disciplined approach – Udacity Steve Blank free course – www.launchpadcentral.com

  • Tie two most important questions:

– Why will a customer make a decision, any decision? – Why will they pick you?

  • Validate every time you change your strategy,

not just at formation of startup. – Validate at new target market, e.g., SMB to mid market retargeting – Validate at new go to market, e.g., direct to SI channel change

Validation

21

  • Validate. Don’t sell.

– Validate the problem, not the solution. – Be in learning mode. Not selling mode. – Is it worth spending the next 7 to 10 years on this?

  • Quantify pain

– Problems and severity – Budget & spending priorities – Pricing

slide-22
SLIDE 22
  • Lean startup methodology

– Very good disciplined approach – Udacity Steve Blank free course – www.launchpadcentral.com

  • Tie two most important questions:

– Why will a customer make a decision, any decision? – Why will they pick you?

  • Validate every time you change your strategy,

not just at formation of startup. – Validate at new target market, e.g., SMB to mid market retargeting – Validate at new go to market, e.g., direct to SI channel change

Validation

22

  • Validate. Don’t sell.

– Validate the problem, not the solution. – Be in learning mode. Not selling mode. – Is it worth spending the next 7 to 10 years on this?

  • Quantify pain

– Problems and severity – Budget & spending priorities – Pricing

  • Qualitative feedback

– Why or why not there is interest – Deeper understanding of the problem – Criteria for purchase – Uncover other unsolved problems – “Anything else we haven’t covered?”

slide-23
SLIDE 23

Pitch

  • Warm intro is still best

23

slide-24
SLIDE 24

Pitch

  • Warm intro is still best
  • Get to the point quickly

24

slide-25
SLIDE 25

Pitch

  • Warm intro is still best
  • Get to the point quickly
  • 10-20-30 Rule

– 10 slides – 20 minutes – 30 point font or larger

25

slide-26
SLIDE 26

Pitch

  • Warm intro is still best
  • Get to the point quickly
  • 10-20-30 Rule

– 10 slides – 20 minutes – 30 point font or larger

  • Be bold – make a big claim.

– “We provide 0% merchant transaction fees”

26

slide-27
SLIDE 27

Pitch

  • Warm intro is still best
  • Get to the point quickly
  • 10-20-30 Rule

– 10 slides – 20 minutes – 30 point font or larger

  • Be bold – make a big claim.

– “We provide 0% merchant transaction fees”

  • Bold claims are not the same as value props. Tiey are attention

getters on how the world changes because of what you’re doing.

27

slide-28
SLIDE 28

Pitch

  • Warm intro is still best
  • Get to the point quickly
  • 10-20-30 Rule

– 10 slides – 20 minutes – 30 point font or larger

  • Be bold – make a big claim.

– “We provide 0% merchant transaction fees”

  • Bold claims are not the same as value props. Tiey are attention

getters on how the world changes because of what you’re doing.

  • Market size should be bottoms up, not Gartner down

28

slide-29
SLIDE 29

Pitch

  • Warm intro is still best
  • Get to the point quickly
  • 10-20-30 Rule

– 10 slides – 20 minutes – 30 point font or larger

  • Be bold – make a big claim.

– “We provide 0% merchant transaction fees”

  • Bold claims are not the same as value props. Tiey are attention

getters on how the world changes because of what you’re doing.

  • Market size should be bottoms up, not Gartner down
  • Bring in the voice of the customer – use customer examples early

29

slide-30
SLIDE 30

Contact

Prashant Shah prashant@tie.org www.tielaunchpad.com

Now taking January applications

30