Each year we have several events and programs, like Catalyst and Startup Weekend, where participants present their idea for a new innovation or venture to an audience. This can sometimes be the pinnacle of months or preparation, or just a few hours. However people come to this point it’s usually a key moment in the development of their venture as they crystallise and reveal publicly something that may have previously been forming in private.
This post is to highlight some of the resources we provide as guides to what and how to present that information. The resources referred to are all linked and uploaded in the “Tips, Tricks and Tools” group in our member’s area.
These are all VERY condensed resources and should be considered as a first step towards more comprehensive plans and more detailed projections….all of which we can either help with through our learning programs or direct you to other commercial or funded support services.
Whether it’s 30 seconds (e.g. elevator sales pitch) or 20 minutes (e.g. TED talks) there is a real skill in presenting an idea well. Over time we’ve learned a lot from books, seeing members pitch, and also from other guests and events. Lachy from Dismantle (who’ve won a lot of pitches), Jane from Glaceii / Curtin Ignition (whose seen hundreds) , Sam from Pollenizer / Startup Weekend and Rachael from Finding Yoga / TEDx Perth have all been part of our events and passed on valuable advice. We’ve taken some of those tips and condensed into a one-page guide to what to include in a pitch. This doesn’t include ‘how’ to pitch…and that’s something we also cover in our programs and one-off events.
There are many motivations for creating a business plan, and whatever the purpose there are some common elements to include. Whether your audience is an commercial investor, government funder, prospective project partner or just yourself, it’s useful to get down in writing your assumptions, vision and strategy. We’re great advocates of the ‘one page’ business plan using a Business Model Canvas or just a succinct written summary of your vision, mission and strategy. However you usually need a little more detail of who, when and how you will create and deliver value and achieve success. We’ve drawn from guides from banks, small business and social enterprise support agencies to create a guide to how to create a very condensed (e.g. 4 pages) business plan. We do include some example templates too, and refer to several more resources that we use during our programs like Catalyst and Flock…and that’s something we’re happy to supply on request.
Most people could recall hearing an absolute inspiring story about a new venture or innovation from a charismatic salesperson: think Steve Jobs, TEDx and more. It’s a great art and skill you can develop. However to REALLY sell something to someone that will buy, you need to be able to back it up. A simple spreadsheet with numbers can often tell an (arguably) more compelling story, showing how income will exceed the projected costs and how your venture or innovation will scale and develop.
Many a great pitch or plan has been presented without any sound financial basis. And the reverse also applies, with some organisations communication not being very flash, but the concrete details of what they offer being so compelling that it works. We’ve sourced a few different versions of templates to do cashflow and profit projections. They all do roughly the same thing, however some are more suited to startups, social enterprises or existing organisations, hence including the multiple versions. We have included links to some guides to help you clarify your assumptions e.g. pricing, costs (chart of accounts)… and are always here to help should members have any questions.
The resources referred to are all linked in the “Tips, Tricks and Tools” group in our member’s area and related document upload section and we look forward to sharing more discussion and resources.