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Tactics that will make your Startup impeccable when presenting MVP and application development team.

  • Mobile App Development
  • Software Development
  • Software Outsourcing
  • Startups

01 June 2018

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Your entrepreneurial team is in a face to face meeting with an investor… your company has a Great Product and needs Application Development and Software to make the proposal meaningful.

For a real opportunity in fundraising campaigns, you need a team of 3 or 4 people accountable for main business areas in the Startup: Management and Innovation, Software and Operations and Business Development.

After the introduction of the members and revealing the value proposition in “Elevator Pitch” format, the team is expected to show an MVP or “Minimum Viable Product”. A basic and robust software product, with enough features to satisfy initial customers, and provide feedback for future development.

How to bring to life the presentation and get an outstanding first impression? … The following tactics will help your team Before, During and After the meeting for a high impact presentation of the MVP.

Tactic # 1 - BEFORE: Rehearse. Play. Switch.

An outstanding MVP demonstration made in an attractive way is really hard to achieve. Rehearsing a lot is the solution.

Role Play: The team is divided into two groups “Investors” and “Entrepreneurs”, each team will have a spokesperson. In real life, “Entrepreneurs” will usually be in charge of making presentations to investors.

“Investors” should do everything possible to function as in real life, “get into the shoes” of a real investor, thinking as one, looking for the weaknesses and threats in the team of “Entrepreneurs”.

Taking the game to the next level:

  • Switch within roles: “Investors” become “Entrepreneurs” and vice versa.
  • Invite third parties to play the role of “Investors”. If possible invite: Real investors, entrepreneurs, CEO, business developers, communicators specialized in the area of ​​your Startup.

After several iterations, the team achieves to “create a routine” that is comfortable enough for demonstrations. So comfortable to attend other events that arise in real presentations.

From now on, the team must have a main spokesperson and a substitute.

To know the responsibilities of the spokesperson, see the following Tactic # 2.

Tactic #2 –  DURING: Conduct the presentation through a spokesperson.

Depending the kind of investor, a fundraising meeting happens in different moments of Startup’s life: VCs, Business Angels, Accelerators, Incubators, Investment Funds and others have differences in specialization, investment portfolio, commitment and timing.

However, all types of investors share something: They are people. A financing relationship is, first of all, a relationship which then leads to financing. So we have to deal with human relationships.

The formula for lasting success is to give the investor an appropriate treatment since the initial meetings in order to create a real link between entrepreneurs and investors, based on trust between the two, sincerity and respect between the parties.

“The Spokesperson has the mission to establish a real link with the investors”.

The mission is to generate trust in the Startup through an accurate presentation of the MVP, connecting expectations of the team and the investor showing control over interests, experience and negotiation.

  • Interest: Know about the portfolio and the interests of the investor.
    • Research about the history of investments in Apps and its success. Use this information to find opportunities for the Startup.
    • Try to find information of future investments of investors (a roadmap is even better).
    • For new investors in Apps, evaluate the real capabilities of the investor in Internet based Startups and as a result, distribute “weights” between the speech and the App hands-on demo.
  • Experience: Know the market vs. Roadmap of the product.
    • Manage it right from the first wireframes, mockups, prototypes to the product MVP.
    • Analyze nearest competitors of the product.
    • Know the project plan for main upcoming milestones and manage alternate routes of new functionalities depending on competitors or requirements from investors.
  • Negotiation: Look for the common points between the team and the investors.
    • Demonstrate control over the Startup relationship with the Application Development Team responsible of the product. Manage the expected pace of results for the launch of the App.
    • Handle objections, difficulties and unknown questions about the App. Redirect the questions to the appropriate members within the team.
    • Stand for value proposition of the Startup with the App managing changes proposed by the investors.

Having a spokesperson for a professional presentation of a quality MVP demonstrates order, control and respect for investors. The result is a team that is worth investing in.

Tactic #3 - AFTER: Make contact with investors showing value and … Close the Deal!

From now on, all communications with investors must bring real value to the relationship. Must be frequent and relevant contacts for the investor’s business. The objective is to position your Startup as an interesting option to be included in the investment portfolio.

“Drop the ‘touching base’ and ‘checking in’ mentality from your vocabulary entirely. When making follow up calls, become an asset in their decision process. That’s when they’ll really want to work with you!” says Jill Konrath

How to turn your Startup into that asset?

The answer is knowing the current investment portfolio and the interests of the investor. Sometimes your Startup will be a 100% match in the “opportunity space” but many other times it won’t…

The Start-up has a competitive edge when is able to “pivot” the application development project, improving its proposal to grow its value for investors.

Example: The Startup Infinity Limos with its QuickLimo App provides a limousine rental service from different local companies available in the neighborhood of the passenger’s pick-up address.

The Startup has contacted investor Live Games, focused on sports business, to offer their Super Bowl fans and other big sporting events a superior experience by sending them a Limousine for their transfers, with these valuable services:

  • For the transfer to the event, the service offers “à la carte menu” from local restaurants, live video access to the lockers , exclusive contents and the ability to bet from an App.
  • For the return they will offer a premium transfer for all their customers and à la carte menu.

We thus identify 3 areas of extension of the actual App and operations of Infinity Limos:

  • Management of à la carte menus: Providers, online menu, pick-up, delivery.
  • Live content streaming: Integration with 3rd parties of this service.
  • Betting management: Integration with 3rd parties of this service.

These 3 new services are intensive in new features, require planning and show complexity in integration with third parties, UX/UI design and DevOps to provide quality services to Live Games customers.

By working with Teravision Technologies your Startup can be sure that all complexities will be handled::

Here we explain the advantages of each modality of contracting

Definitively, the best way your Startup can meet the needs of investors like Live Games is by hiring effective Agile Software Development services.

  • Agile Software Development
  • UX/UI Design

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