The first PowerPoint of the rideshare unicorn has many clues to pitch in an unstable economy.
April 12, 2021
4 minutes of reading
Comments expressed by Businessmen the contributors are their own.
25 PowerPoint slides are all that are needed to land Uber an initial investment of $ 200,000 in 2008. Quickly passed a decade, and car-sharing company IPO end day one with one Valuation of $ 81 billion even after many years Disaster PR and scandals. So what the hell is there pitch deck, anyway?
The true Garrett Camp co-founder post it here. Him and Travis Kalanick Introducing a whole new one business concept in times of great financial crisis, a time when even the smartest investors can count on idea. Anyway the pitch was so good, it worked.
If you are gathering up the courage to go after the sponsorship is shaken so economicTight positioning is a sure-fire boost. Here are five shades from Uber’s deck of cards that you might want to steal ahead of your next offering.
1. Prioritize the idea over the design
Uber’s offering is also fundamentally design. The founders didn’t rely on special fonts or funny animations; they avoid trying to look fancy and use only basic graphics and black font bullets on a white background.
We think we need to impress investors with highly branded documents or perfect websites. But in most cases this is not true; Venture capitalists want to get the meat of one idea as fast as possible. By keeping it simple and promoting the concepts of home – pun intended! Uber was able to focus its attention on the most compelling part of its pitch: An opportunity to disrupt the taxi industry forever.
2. Make informed predictions about the future
Uber says its main selling point is a ride-hailing app for luxury vehicles for American professionals. The real innovation and the ultimate reason for its success was the idea of a taxi app with greater reliability. The only sell proposition that was initially offered to investors turned out to be wrong.
But investors know that no one can accurately predict the future. Instead, Camp and Kalanick used this to paint a picture of a possible future, pointing to opportunities like the complexity of the taxi medals as an opportunity for innovation. Now, when you look at their pitch, with the benefit of insight, you can still clearly see any of these possibilities. may has come true.
The power of Camp and Kalanick’s pitch is not in accuracy – it’s in their vision and how they convince investors to see the future the way they did.
3. Cite an actual worst-case scenario
During a recession, investors are wary of forecasts from the blue sky. Kalanick and Camp used their imagination to attract investors with possibilities, and they knew investors might be defending their check books after the mortgage crisis.
The founders laid out what they consider the worst-case scenario, then outlined their progress to make their pitching seem like a no-brainer.
4. Participate in other successful technologies
It’s strange to remember that smartphones only became popular in 2008. Back then, smartphones were only 22% of cell phone sales, while today more than 70% of the United States. Mature population using smart phones.
Uber sees the smartphone the way forward. Camp and Kalanick not only advertise the taxi service, but also how it functions as an app, using that as a core point of sale.
As smartphones become more and more popular and appealing to households, it’s becoming increasingly commonplace to book an Uber, allowing the startup to position itself in the lead and take over. market share.
5. Know your competitors inside and out
I mentioned taxis before, but let’s be clear: Uber’s sales pitch has torn both taxis and limousines to pieces. The founders outlined competitor weaknesses not only in relation to consumer attitudes, but also the challenges faced by the industry’s employees and workers.
By demonstrating their competitor’s anatomical knowledge, Kalanick and Camp were able to convince investors that Uber – or some form of it as an idea – has what it takes. needed to capture a large share of the market, even during a recession.
The last lesson
The pitch for investors can always bring you interesting things. But when you’ve done the job of positioning your offer well, investors and venture capitalists will see that and act when they see an opportunity. Instead of letting a tough economy dampen your hopes and dreams, use this time to fight the recession – then follow your destiny with all you have. .