This is a summary of the sessions given to us interns at National Instruments during Summer 2017.
- Pitch Please by Priscilla Sharuk
- Business Empowerment session by Fadi Bizri
When pitching a new idea, one must cover 12 things: (each within a slide or set of slides)
- Problem (might be presented through a story)
- Solution/Value proposed (how will our idea solve the problem)
- Market (who is going to be interested in using our idea)
- Go-to-market strategy (how will we target the market, launch…)
- Business model (how do we make money, costs vs. revenues, etc.)
- Competition (who is already out there providing something similar)
- Competitive advantage (what makes us better?)
- Team (why are we the right people to be doing this?)
- Traction (where are we so far)
Some tips while presenting:
- say “we”
- use icons instead of bullet points
- on slides with graphs, put the conclusion of the graph as title
- use numbers and data people can relate to
- don’t use acronyms
- don’t say what your going to say (“so now I am going to talk about …” NO.)
- defeat brain lock during practice in order to learn improvisation
- avoid fillers (so, yeah, um…)
- avoid editing what you said
Priscilla is the co-founder of Myki, password manager. (Her contact info is in my drive business card file)
In the business empowerment session, the following ideas where mentioned:
- The importance of developing code/product incrementally. Simplifying things for testing purposes. Use the waterfall method in coding (sequential and none iterative)
- Venture Capitals need to sell their shares after 5-7 years. So if they invest in a business, it needs to scale up a lot during the first few years.
- Talk about your project to other people, for networking purposes. It’s not the idea that is valuable but the work done to make it happen.
- Use LEAN canvas
- There is a 2-year lock on the entrepreneur to work full-time on the project once the investment agreement is signed.
- It’s okay to speak to many investors. Avoid personal guarantees. Milestone-based investments are messy.
Fadi Bizri is the CEO of Speed. He also started a school to teach graduates from unprivileged backgrounds work coding experience in order to get them jobs.