Guagua Pública

I'm continuing to be blown away by the theories and writing of Steve Blank. In researching how I'm going to better prepare myself when talking with people about Mis Tribus, I ran across Steve's blog post "Raising Money Using Customer Development." Towards the bottom, he takes his concept a step further and suggests that the traditional VC pitch is and I'm paraphrasing here, nearly worthless, and instead recommends a new type of VC pitch. He calls it the “Lessons Learned” pitch.

In summary Steve suggests the following framework for your pitch:

• Market/Opportunity
• Team
• Lessons Learned Slide 1
• Lessons Learned Slide 2
• Lessons Learned Slide 3
• Why We’re Here<

He further recommends that each slide answer these questions:

• “Here’s What We Thought.”
• “Here’s What We Did.”
• “Here’s What Happened.”

If I was going to invest in a company, I'd much rather see this type of pitch. As Steve puts it:

"...smart VC’s will recognize that by iterating on your assumptions you have dramatically reduced risk– on your nickel, not theirs. "

Anyone interested in learning more about Steve's theories should invest in: