How To Create a Killer Competition Slide for VC Investors | Dose 005
A complete guide to creating a killer competition slide for your investor pitches.
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This video will show you exactly how to create a competition slide that wows VC’s and institutional investors.Here’s what you’ll learn during the next five minutes:
First, Dreamit Managing Partner Steve Barsh will spell out the initial mistake most entrepreneurs make with their competition slide: not actually knowing who the competition is.
If you haven’t done an exhaustive search of your competitors, the VC’s you meet with will do a quick Google search to find competitors you haven’t mentioned and call you out on it.
Lesson: Do an in-depth search for your competition instead of avoiding who your potential competitors are.
Next, you’ll learn why using a “Magic Quadrant” is the wrong way to format your competition slide. You’ll also see how a Magic Quadrant might cause investors to question if your business is actually differentiated from your competitors.
Instead of using a Magic Quadrant, you’ll find out you should show your competition in a table and grid format. Why? Because a grid will allow you to differentiate your product and business over your top three to four competitors across five to ten key benefits.
At this point in the video, Steve will show you how to format your competition table so you can clearly highlight the ways in which your company is different from its competitors.
Finally, Steve suggests you shouldn’t just show how your product wins out over the competition. Consider including how your company beats the competition in other areas like distribution strategy, pricing, business model, operations, etc. Many investors will want to know the other things that make you different from your competitors.
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0:00 - Intro
0:25 - Know Your Competition
1:15 - No Magic Quadrants & Venn Diagrams!
1:47 - Designing Your Competition Slide
3:58 - Adding Unique Differentiators
4:31 - Takeaways
5:03 - Outro
Пікірлер: 48
Great stuff Steve. To the point, clear do’s and don’ts, and actionable. I’m sending this to some of our teams that asked about competition
@stevebarsh1224
5 жыл бұрын
Glad you like it Ash! Send away. I hope they find it helpful!
Probably the best five minutes I've spent all year
Quickly heads to my slide deck to remove the competitor graph/Quadrant... haha! Also, you always apologise for going quickly. I much prefer this! So succinct and direct, love these videos!
This video is crisp to the point and highly informative. Best ever channel for startups. Thank you for all your efforts. You deserve 100k subscribers easily
@DreamItVentures
4 жыл бұрын
Glad you like the channel and videos! Thx for the props! -- Steve
I love all your stuff, Steve. And pulling them all off in less than 5 is awesome.
Found you.... This is awesome🙌🏽
Very informative and get to the point. Short and sweet !
Really great insight, I'm in the process of fixing my competitor slide right now and this provides great insight for it!
The best guidence ever
Glad that someone explicitly tells you not to use the quadrant method especially in healthtech where there are many differentiating factors not just across competitors but across stakeholders.(patients, providers and payers).
Man ! Steve Barsh you are great :)
Thank you for this it helped our startup!
Is anyone else kinda offended by the magic quadrant gesture? Great content though, learned a lot in only 5 minutes. like and subscribe.
Amazing video! was really an eye opener.. wondering now, is there a template available? I believe doing this in excel won't exactly look as visually appealing as shown in the video...
Very nice job.
Great video, super helpful
Great job mate. Shout out from Oz
Amazing. thank you
@DreamItVentures
4 жыл бұрын
You're welcome! Thanks for taking the time to comment!
Thank you, very clear. Do you know any website where can I find more investors ?
good job!
@stevebarsh7727
4 жыл бұрын
Thanks for the props Ali!
Could someone explain why the magic quadrant is dead, is it because it lacks a comparison with our product?
What do you all put as benifits? Need help from each one of you. Appreciated if you can help me hear as a researcher student.
Thank you !
@DreamItVentures
4 жыл бұрын
You're welcome!
@stevebarsh7727
4 жыл бұрын
You're welcome Evelyn!
Do you know investors interested in the beauty industry because the link that you provide is for health or tech right ? or can I apply as well ? thank you in advance .
Do you have any voiceover advice for a pitch-deck?
Should we add the number of users in this diagram for each competitor?
This might be an odd questions, if I'm a really disruptive approach through innovation in a couple of axis (yes I watched your other videos :-)) I end up with a column full of ticks for my application and mostly empty columns for the others, maybe just 1 or 2 ticks at most. It looks too good to be true, any comment on that?
@stevebarsh7727
4 жыл бұрын
Thx for watching (several!). Make sure you are focusing on the TOP, MOST COMPELLING benefits/differentiators. Sure, you could have a lot of empty columns but think about what items do you think investors or customers would ask you about the most? Even if it's tangential. Most frequently, the biggest competition is "the status quo" whatever that is in your situation. Thanks for your question!
@DrShonaD
4 жыл бұрын
@@stevebarsh7727 thanks for your reply, yes status quo is definitely one of my biggest competitors. I've enjoyed the videos and will rewatch before my next pitch 👍
@stevebarsh7727
4 жыл бұрын
@@DrShonaD Great! Also, we did a LinkedInLive today talking about the top 5 mistakes startups make when pitching VC's. You may find it helpful. www.linkedin.com/feed/update/urn:li:activity:6564535328227540992
Should the competitor be a direct competitor, exactly named, specific brand/company or it can be one descriptive word e.g. bank? e.g. FinTech landscape is huge with different players in the market and competition is somewhere in between the niches. Thank you.
@DreamItVentures
4 жыл бұрын
It could be any of those. Best is to use named, best known (most asked about) direct competitors. Others can be included too. -- Steve.
@rodrigatone
4 жыл бұрын
@@DreamItVentures Thank you, Steve! Btw, loved your videos, short and right on point. Finally getting it right. Gives huge boost to understanding the investor side and more importantly brings self-awareness, which steps to undertake and how. It makes you think.
@DreamItVentures
4 жыл бұрын
@@rodrigatone Glad you are finding them helpful! -- Steve
I wish I knew this channel three years ago...
👍
But what if it's a really good Venn? 😏
Currently investors don't do their job. They don't ask for even a 5 minute meeting, they don't try to watch the business model but a pitch deck if it is beautiful or well made, they give their funds to already rich people or to people that have some network...or enslaved by marketing around the product but not the core of the product. Everyone forgets about the irresponsibility and inefficiency of investors. Everyone forgets that many products that took Funds and failed, a huge part is on the investors' side, because they are seeking beautiful draws. Who f...cs all that. A dedicated person who does his work well should see the most important and it's the core of the business model. A dedicated professional in any job, doesn't spend 3 minutes in solving or understanding a problem.
Why you would explain these in KZread?
This is really opinionated. I think that _could_ be a good thing (especially if someone is pitching YOU), but it might be helpful to caveat the areas where you align / differ from other VCs.
@stevebarsh1224
5 жыл бұрын
Fair enough John. I've found universally the other approaches yield poor results. But others may like a diff structure.
@stevebarsh7727
4 жыл бұрын
@John - I beg to differ. I think this is a very well-aligned approach. We see startups make this mistake again and again and don't clearly point out their differentiation from the competition. The biggest thing we are saying here is you should never use a magic quadrant. It's a very weak way to show differentiation and clearly point out why you are better.