Tom Hadfield is a serial entrepreneur and CEO of Fetch, a personal buying assistant with a very simple goal: To make buying easy on your mobile device. Within the last month, Tom and his team completed a financing road show with over 100 investors in the Silicon Valley area, closing a $2.3 Million financing round in four weeks.
Crafting a Winning Pitch
- Identify your goal – Investment, a positive media story, a user signing up for your app, etc.
- Know you audience, for real.
- In the first 30-60 seconds, create a story everyone can relate to, provide clear evidence there is a HUGE and obvious problem and showcase the vision for what the world would look like if you eliminated the problem
- Show proof that your company can credibly provide the solution – in less than 10 slides
- Showcase your competitive advantage – investors particularly love this
- Combine storytelling, selling and conversation & deliver with enthusiam
- Use very visual slides with out a lot of words with very concise commentary that runs alongside it. One thought per slide.
- Perform a live demo whenever possible but don’t get lost in too much detail
- Never say you don’t have any competitors – who are they?
- How are you going to make money? Show how your revenue model and cost structure scales over time
- Be bold. Always end with a STRONG ask
- Anticipate any questions and leave enough time for Q&A
- Practice your pitch with a third grade teacher or your grandmother. Make sure they get it.
With pitching, really the goal is to be remembered, to inspire people with your idea and to achieve a goal.
How to Pitch a Rapid Fire 6 Min Pitch at TechCrunch Disrupt
- 1-2 minutes on the problem you’re trying to solve
- Quickly go into your vision and your solution
- 3 minutes to focus on the demo
- The future: how your business will evolve
- Powerful ending: inspire people for what’s to come
The organizers of TechCrunch Disrupt encouraged us to focus on the demo and talk much less on the market size and the business model.
Podcast Deep Dive
- Fetch’s scalability strategy (9:00)
- Fetch’s two launch strategies & launch dilemma (14:30)
- The secrets to launching at Tech Crunch Disrupt including Tom’s initial worries (15:20)
- The essentials to pitching to a variety of different audiences (17:40)
- David Rose’s Investor Pitch Deck (19:00)
- How to pitch at Tech Crunch Disrupt (22:06)
- The future of shopping: Wearable commerce (23:40)
- Building a business model that doesn’t relying on partnerships (25:02)
- Fetch will be one of the first smart watch apps on the Moto 360 Smart Watch
- Tom talks to at least one user everyday!
- Tom started Soccernet in his bedroom when he was a teenager and it was sold to ESPN when he was only 17
- Tom raised over over $24 Million in venture capital for his previous bio-tech company
Quotes from Tom
“There really is an expected format or formula that investors expect to see.”
“There’s an immense shift in technology from desktop to mobile. This will be our first time spending more time on our mobiles than on desktops.”
“We see a real opportunity for wearable commerce.”
“We have some users that are saying they are never buying on their desktops again.”
“When I should have been more focused on our launch plan, I ended up kinda getting really obsessed with getting in the best shape of my life.”
You can download Fetch here at the app store.