TED2007
David S. Rose: How to pitch to a VC
David S. Rose 讲解怎么说服风险投资者
Filmed:
Readability: 2.8
1,305,982 views
想创业吗？让David S. Rose在这个“怎样说服风险投资者”的TED演讲中，教您在打开幻灯片之前，就应该知道的10样关于您自己的事情，去说服风险投资者。
David S. Rose - Angel Investor
"The Pitch Coach" David S. Rose is an expert on the business pitch. As an entrepreneur, he has raised millions for his own companies. As an investor, he has funded millions more. Full bio
"The Pitch Coach" David S. Rose is an expert on the business pitch. As an entrepreneur, he has raised millions for his own companies. As an investor, he has funded millions more. Full bio
Double-click the English transcript below to play the video.
00:12
Good morning. My name is David Rose.
0
0
2000
早上好。我叫David Rose。
00:14
I am a serial entrepreneur turned serial investor.
1
2000
3000
我以前是个连续创业者,后来变成了连续投资者。
00:18
And by the use of pitching PowerPoints to VCs,
2
6000
3000
我用powerpoint做演讲，集资
00:21
I have personally raised tens of millions of dollars
3
9000
3000
我亲身利用Powerpoint从风险投资者那儿，
00:24
from VCs through PowerPoint pitches.
4
12000
3000
集过千万美金。
00:27
And then, turning round to the other side of the equation,
5
15000
2000
当我变成了一个投资人之后，
00:29
I have personally supervised the investment
6
17000
2000
我自己监督了
00:31
of tens of millions of dollars into companies
7
19000
2000
对多个公司的千万美金的投资。
00:33
who have been pitching me with PowerPoint presentations.
8
21000
2000
他们也是用PowerPoint演讲来打动我给他们投资。
00:35
So I think it's safe to say I know a little bit
9
23000
2000
我想，这些可以让我自信的说
00:37
about the process of pitching.
10
25000
2000
我对集资还是有一点了解的。
00:39
So, the very first question that you've all got to figure out
11
27000
3000
你第一个要想明白的问题就是：
00:42
is: what is the single most important thing
12
30000
2000
当你去给投资人
00:44
that a VC is looking for when you come to them
13
32000
3000
展示你的商业计划的时候，
00:47
pitching your new business idea?
14
35000
2000
他们最想要的是什么？
00:49
And there are obviously all kinds of things.
15
37000
2000
当然有很多的因素，
00:51
There are business models, and there are financials,
16
39000
1000
比如商业模型，财务，
00:52
and there are markets
17
40000
1000
还有市场。
00:53
and there is that. Overall, of all the things that you have to do,
18
41000
3000
但是，在所有你要做的事中，
00:56
what is the single most important thing the VC
19
44000
3000
哪一样是投资人
00:59
is going to be investing in?
20
47000
2000
最看重的呢？
01:01
Somebody? What?
21
49000
2000
谁来猜猜？是什么？
01:03
(Audience: People.)
22
51000
1000
观众：人。
01:04
David S. Rose: People? You! That's it -- you are the person.
23
52000
3000
人？你！没错，就是你。
01:07
And so therefore, the entire purpose of a VC pitch
24
55000
3000
其实整个集资演讲的过程
01:10
is to convince them that you are the entrepreneur
25
58000
2000
就是要说服投资者，你就是这个
01:12
in whom they are going to invest their money
26
60000
3000
他们即将投资的创业者，
01:15
and make a lot of money in return.
27
63000
2000
会帮助他们赚到更多的回报。
01:17
Now, how do you do this?
28
65000
1000
那，你怎么能做到呢？
01:18
You can't just walk up and say, you know,
29
66000
2000
你不能上去就跟人家说，
01:20
"Hi, I'm a really good guy, and a good girl,
30
68000
2000
“你好，我是个特棒的人，
01:22
and you should really invest in me." Right?
31
70000
1000
投资在我这儿吧。”
01:23
So, in the course of your VC pitch, you have a very few minutes,
32
71000
4000
在你集资演讲的过程中，你只有很短的几分钟。
01:27
and most VC pitches --
33
75000
1000
大多数投资演讲的时间 --
01:29
most angel pitches are about 15 minutes,
34
77000
1000
对创投天使大概是15分钟
01:30
most VC pitches should be less than half an hour.
35
78000
2000
对其它大概不到30分钟。
01:33
People's attention span after 18 minutes begins to drop off,
36
81000
2000
人的注意力大概会集中18分钟， 然后集中力就开始下降了。
01:35
tests have shown.
37
83000
1000
这是实验的结果。
01:36
So in that 18 minutes, or 10 minutes, or five minutes,
38
84000
3000
所以，在18分钟，或者10分钟，更或者5分钟之内，
01:39
you have to convey a whole bunch of different characteristics.
39
87000
3000
你必须要传达许多特质。
01:42
You actually have to convey about 10 different characteristics
40
90000
2000
在这短短几分钟之内，
01:44
while you're standing up there.
41
92000
1000
你大概要传达10个特质。
01:45
What's the single most important thing you've got to convey?
42
93000
3000
那么哪一条要传达的信息是最重要的？
01:48
What?
43
96000
2000
什么？
01:50
(Audience: Integrity.)
44
98000
1000
观众：诚实。
01:51
DSR: Boy, oh boy, oh boy! And that's a straight line we got
45
99000
1000
没错！和我的幻灯片上一摸一样。
01:52
right over there. And I didn't even prompt him.
46
100000
3000
他不是我的托啊。
01:55
You're right, integrity. Because that's the key thing.
47
103000
2000
你是对的，就是诚实。这是最重要的一点。
01:57
I would much rather invest in somebody -- you know,
48
105000
2000
我更愿意投资给--
01:59
take a chance on somebody -- who I know is straight
49
107000
2000
或者说在一个诚实的人身上下注。
02:01
than somebody where there's any possible question
50
109000
2000
而不是，一个让我怀疑到
02:03
of, you know, who are they looking out for,
51
111000
2000
他的动机
02:05
and what's going on.
52
113000
1000
或者有小动作的人。
02:06
So the most important thing is integrity.
53
114000
1000
所以最重要的就是诚信。
02:07
And what's the second most important thing after integrity?
54
115000
2000
那么除了诚信之外，第二重要的是什么？
02:09
Let's see if you can get this one.
55
117000
1000
看看你们能不能回答这个。
02:10
(Audience: Self-confidence.)
56
118000
3000
观众：自信。
02:13
DSR: Close enough! Passion.
57
121000
2000
很接近了！是激情。
02:15
Right, so here you want --
58
123000
2000
对，你想--
02:17
entrepreneurs by definition are people
59
125000
1000
创业者的定义
02:18
who are leaving something else, starting a new world over here,
60
126000
2000
就是要抛弃其它的东西，开始一个新的世界，
02:20
creating and putting their lifeblood into this kind of thing.
61
128000
3000
而且会把自己的心血倾注到这个新世界中的人。
02:23
You've got to convey passion.
62
131000
1000
所以你一定要传递激情。
02:24
If you're not passionate about your own company,
63
132000
2000
如果你对你自己的公司都没有激情。
02:26
why on Earth should anyone else be passionate?
64
134000
1000
其他人怎么会对它有热情？
02:27
Why should they put more money into your company,
65
135000
2000
如果你对自己的公司都没有激情？
02:29
if you're not passionate about it?
66
137000
1000
别人怎么会投钱到你的公司。
02:30
So, integrity and passion: the single most important things out there.
67
138000
3000
所以，诚信和激情是两件最重要的事情。
02:33
Then there are a whole panoply of other things
68
141000
1000
之后你还需要许多其他事情，
02:34
that you've got to do, to wrap up in this package
69
142000
2000
去充实你要传递给投资人的
02:36
that you're presenting to a VC.
70
144000
2000
整体形象。
02:38
Experience.
71
146000
1000
经验。
02:39
You've got to be able to say, "Hey, you know, I've done this before."
72
147000
3000
你要能告诉他们，“我之前干过这个。”
02:42
And "done this before" is starting an enterprise and creating value,
73
150000
3000
这代表了你曾经试过创业，创造价值，
02:45
and taking something from beginning to end.
74
153000
2000
并且从头坚持到尾。
02:47
So that's why VCs love to fund serial entrepreneurs.
75
155000
3000
这就是为什么投资人喜欢投资给连续创业者。
02:50
Because even if you didn't do it right the first time,
76
158000
2000
因为即使你第一次没有成功，
02:52
you've learned the lessons, which are going to
77
160000
2000
你已经从失败中学到了功课，
02:54
stand you in very good stead the next time.
78
162000
1000
这些经验会在你第二次开创时会很有用。
02:55
And now along with that, along with the experience
79
163000
2000
同时，
02:57
of starting an enterprise, or running something --
80
165000
2000
除了曾经开过公司，
02:59
and it doesn't have to be a business.
81
167000
1000
其它的经验也有帮助。
03:00
It can be in an organization at school,
82
168000
1000
比如说学校的组织，
03:01
it can be a not-for-profit.
83
169000
1000
或者是非盈利机构。
03:02
But they want experience in creating an organization.
84
170000
3000
但是他们想看到一些组织经验。
03:05
Next up is knowledge.
85
173000
1000
下一个就是知识。
03:06
If you're telling me you're going to be
86
174000
2000
如果你说
03:08
the great developer of the map of the human genome,
87
176000
2000
你要画出人类基因的图谱，
03:10
you'd better know what a human genome is.
88
178000
2000
你最好要知道基因是什么东西。
03:12
I mean, I want you to have domain expertise.
89
180000
2000
我的意思是，你要有专业知识。
03:14
So I don't want somebody who's saying,
90
182000
2000
我不想看到有人说，
03:16
"Hey, I've got a great idea in a business I know nothing about.
91
184000
3000
嘿，我有个特别好的主意，但是我对它一点也不了解。
03:19
I don't know who the players are.
92
187000
1000
我不知道我的竞争者，
03:20
I don't know what the market is like."
93
188000
1000
我不了解市场是什么样的。
03:21
So you've got to know your market.
94
189000
1000
所以你要了解你的市场。
03:22
You've got to know your area.
95
190000
1000
你要了解你的领域。
03:23
And then you have to have the skills that it takes
96
191000
2000
你要有所有
03:25
to get a company going.
97
193000
1000
运营一个公司的能力。
03:26
And those skills include everything from technical skills,
98
194000
4000
这些能力包括了技术能力，
03:30
if it's a technology business, to marketing, and sales,
99
198000
3000
如果是科技公司的话， 还有市场营销，
03:33
and management, and so on.
100
201000
1000
管理，等等。
03:34
But, you know, not everybody has all these skills.
101
202000
3000
但是，不是每个人都能具备所有的能力。
03:37
There are very few people who have the full set of skills
102
205000
2000
只有很少的人会有
03:39
that it takes to run a company.
103
207000
2000
运营一个公司的所有技能。
03:41
So what else do you require?
104
209000
1000
那么还需要其它什么呢？
03:42
Well, leadership.
105
210000
1000
领导力。
03:43
You've got to be able to convince us
106
211000
2000
你要能说服我们，
03:45
that you either have developed a team
107
213000
1000
你，或者你的团队
03:46
that has all those factors in it, or else you can.
108
214000
3000
拥有了所有这些技能。
03:49
And you have the charisma and the management style
109
217000
3000
你要有感染力，还有管理的方式
03:52
and the ability to get people to follow your lead,
110
220000
3000
能让人们跟随你的领导，
03:55
to inspire them, to motivate them to be part of your team.
111
223000
3000
鼓舞，激励他们成为你团队的一部分。
03:58
All right, then, having done all that,
112
226000
1000
但做好了这些后，
04:00
what else do I want to know as a VC?
113
228000
1000
做为一个投资者，我还想知道什么呢？
04:01
I want to know that you have commitment.
114
229000
2000
我要知道你能坚持你的承诺。
04:03
That you are going to be here to the end.
115
231000
2000
你会从开始坚持到最后。
04:05
I want you to say, or I want you to convey,
116
233000
3000
我要你告诉我，传递给我，
04:08
that you are going to die if you have to, with your very last breath,
117
236000
3000
你死都要坚持，坚持到最后一口气。
04:11
with your fingernails scratching as they drag you out.
118
239000
2000
愿意拼死一搏。
04:13
You're going to keep my money alive
119
241000
2000
你会让我的钱周转
04:15
and you're going to make more money out of it.
120
243000
1000
你会用它们挣更多的钱。
04:16
So I don't want somebody who's going to cut and run
121
244000
1000
我不想投资在一位一碰到危机
04:17
at the first opportunity.
122
245000
1000
就逃跑的人。
04:18
Because bad things happen.
123
246000
1000
因为没有什么事情会是一直顺利的。
04:19
There's never been an angel- or a venture-funded company
124
247000
3000
从来没有一个被投资的公司
04:22
where bad things didn't happen.
125
250000
1000
是一帆风顺的。
04:23
So I want to know that you're committed to be there
126
251000
2000
所以我想要知道你会承诺
04:25
to the very end.
127
253000
1000
坚持到最后。
04:26
You've got to have vision.
128
254000
1000
你还要有视野。
04:27
You've got to be able to see where this is going.
129
255000
2000
你要能看到你公司前面的方向。
04:29
I don't want another "me too" product.
130
257000
1000
我不想看到一个“我也是”的产品。
04:30
I want somebody who knows, who can change the world out there.
131
258000
3000
我想找的人要知道，他们可以改变世界。
04:33
But on top of that, I also need realism.
132
261000
1000
当然，这要建立在现实的基础上。
04:35
Because I need to know that you know that
133
263000
1000
我要知道你明白，
04:36
while changing the world is great, it doesn't always happen.
134
264000
3000
尽管改变世界是很美好的事，但那并不常常发生。
04:39
And before you get to change the world,
135
267000
2000
在你改变世界之前，
04:41
bad things are going to take place.
136
269000
1000
总会有各种难题。
04:43
And you've got to be able to deal with that.
137
271000
1000
而你要能解决这些难题。
04:44
And you have to have rational projections and stuff.
138
272000
2000
你要有理性的计划。
04:46
And then finally, you're asking for my money,
139
274000
2000
最后，当你向我筹钱时，
04:48
not just because it's my money, but because it's me.
140
276000
2000
不仅仅是因为我的钱，还因为我。
04:50
You need to be coachable.
141
278000
1000
你要能听别人的指导。
04:51
So I need to know that you have the ability to listen.
142
279000
3000
我要知道你有聆听别人的能力。
04:54
We've had a lot of experience.
143
282000
1000
我们都有很多经验--
04:55
People who are VCs or angels investing in you
144
283000
2000
这些投资人，天使投资者
04:57
have had experience and they'd like to know
145
285000
3000
都有很多经验，他们想要知道
05:00
that you want to hear that experience.
146
288000
1000
你想听，学这些经验。
05:01
Okay, so how do you convey all these 10 things in 10 minutes
147
289000
3000
那么，你怎么能够在10分钟里传递这10件事，
05:04
without saying any more?
148
292000
1000
又不至于说太多话呢？
05:05
You can't say, "Hey, I've got high integrity,
149
293000
1000
你不能说，“嘿，我很诚实，
05:06
invest in me!" Right?
150
294000
1000
给我投资吧！”
05:07
You've got to do a whole pitch that conveys this
151
295000
3000
你要在整个演说过程中不露声色地
05:10
without conveying it.
152
298000
1000
来传达这些信息。
05:11
So think about your pitch as a timeline.
153
299000
1000
要把你的演说当成一个时间轴。
05:12
It starts off, you walk in the door.
154
300000
2000
它从你进门的那一刻开始。
05:14
They know nothing at all, whatsoever, about you.
155
302000
2000
他们在这一刻之前对你一无所知。
05:16
And you can take them on an emotional --
156
304000
2000
你要带动他们的情绪--
05:18
all pitches, or all sales presentations, are emotional at some level.
157
306000
3000
所有的演说，所有的销售演讲，都要带动人们的情绪。
05:21
You can go up, you can go down, right?
158
309000
2000
情绪可以变浓，也可能会变淡，对不对？
05:23
And it goes from beginning to end.
159
311000
2000
这个过程会从开始持续到最后。
05:25
You walk in the door. So the first thing you've got to do --
160
313000
2000
你走进门。你第一件要做的事情--
05:27
the overall, you know, arc of your presentation --
161
315000
2000
就是要让你的演讲快速升温--
05:29
it's got to start like a rocket.
162
317000
1000
你要像个火箭一样开始。
05:30
You've got maybe 10 seconds -- between 10 and 30 seconds,
163
318000
4000
你大概有10秒钟--10到30秒钟，
05:34
depending on how long the pitch is -- to get their attention.
164
322000
3000
根据你总共的时间--来吸引投资人的注意力。
05:37
In my case, "I've invested. I have got tens of millions of dollars
165
325000
3000
以我为例：“我投资过。我用集资演说得到
05:40
from PowerPoint pitches.
166
328000
1000
上千万的投资，
05:41
I have invested tens of millions of dollars."
167
329000
2000
我也投资过上千万的资金。”
05:43
That's it -- that should get you right there.
168
331000
1000
就象这样，让你有个成功的开始。
05:44
This can be a factor, and everybody can be saying
169
332000
2000
这也可以是一个出其不意的情况，
05:46
it's counterintuitive. It can be a story, it can be experience.
170
334000
2000
或者是一个故事，一个经历。
05:48
But you've got to grab their emotional attention, focused on you,
171
336000
3000
不管是什么，你要从一开始就要抓住他们的情绪，
05:51
within that first few seconds.
172
339000
2000
让注意力集中到你身上。
05:53
And then from there, you've got to take them
173
341000
2000
然后，你要带着他们开始一个
05:55
on a very solid, steady, upward path, right from beginning to end.
174
343000
4000
坚固，稳定的上升线。从开始直到结束。
05:59
And everything has got to be reinforcing this.
175
347000
2000
你的一切表现都要加强这一点。
06:01
And you've got to get better, and better, and better, and better.
176
349000
2000
你要把情绪调动的更浓，更浓，更浓。
06:03
And it's revving up to the very end,
177
351000
1000
直到最后。
06:04
and then at the very end you've got to -- boom! --
178
352000
2000
然后再最后，你要--轰！--拉他们进来，
06:06
knock them out of the park.
179
354000
1000
让他们不能在安坐一旁。
06:07
You want to be able to get them to such an emotional high
180
355000
2000
你要把他们的情绪调动到，
06:09
that they are ready to write you a check, throw money at you,
181
357000
2000
他们想马上给你写张支票，
06:11
right there before you leave.
182
359000
1000
在你离开之前把钱扔给你。
06:13
Okay, so how do you do that?
183
361000
1000
好，怎么做到这个？
06:14
Well, first of all, logical progression.
184
362000
2000
首先，要有合理的发展。
06:16
Any time you go backwards, any time you skip a step --
185
364000
3000
任何时候你后退，或者是跳过什么步骤--
06:19
imagine walking up a staircase where some of the treads are missing,
186
367000
3000
就像你走到一个楼梯，发现有些台阶不见了，
06:22
or the heights are different heights.
187
370000
2000
或者是台阶的高度不一样。
06:24
You stop, you've got to figure it out.
188
372000
2000
你会停下来，想搞明白这是怎么回事。
06:26
You want a nice logical progression.
189
374000
1000
你需要一个合理的递进。
06:28
Start with telling them what the market is.
190
376000
1000
从告诉他们你的市场开始。
06:29
Why are you going to do X, Y or Z.
191
377000
1000
你为什么要创业，一，二，三。
06:30
And then you've got to tell me how you're going to do it,
192
378000
2000
你要告诉他们你会怎么做，
06:32
and what it is you're going to do. How you're going to do it.
193
380000
3000
你要做什么，你怎么做。
06:35
And the whole -- it's got to flow from beginning to end.
194
383000
2000
从头到尾都要很流畅。
06:37
You've also got to let me know that there are touchstones.
195
385000
3000
你要让我知道这些是可信的。
06:40
You want to tie in to the rest of the world out there.
196
388000
2000
你要把你所要做的和外界联系起来。
06:42
So, for example,
197
390000
1000
例如，
06:43
if you reference companies I've heard of,
198
391000
2000
如果你提到我听说过的公司，
06:45
or basic items in your business,
199
393000
2000
或者是你公司的基本要点的话，
06:47
I want to know about them. Things that I can relate to:
200
395000
3000
我就想更多的了解他们。通过我能够理解的事情：
06:50
validators, or anything that tells me somebody else has approved this,
201
398000
4000
我需要验证，这是否已经得到其他人的认同。
06:54
or there's outside validation.
202
402000
2000
或者是外界的证明。
06:56
It can be sales; it can be you've got an award for something;
203
404000
3000
比如销售情况，比如一些奖项。
06:59
it can be, people have done it before;
204
407000
2000
或者，有别人做过相似的事情，
07:02
it can be your beta tests are going great.
205
410000
2000
或者是你的测试版反响很好。
07:04
Whatever. I want to know validation,
206
412000
1000
无论是什么，我需要证明。
07:05
that you're telling me not just what you're telling me,
207
413000
2000
证明不只是你告诉我能成功，
07:07
but that somebody else -- or something else out there --
208
415000
3000
而是其他人，或者是其他事
07:10
says this makes sense.
209
418000
1000
证明你说得有道理。
07:11
And then, because I'm looking for the upside here,
210
419000
1000
再有，因为我在看你是否有前景，
07:12
I've got to have believable upside.
211
420000
1000
你需要有可信的前景。
07:13
And that's two parts.
212
421000
1000
这有两个部分。
07:14
It's got to be upside, and it's got to be believable.
213
422000
2000
一是要有前景，二是要可信。
07:16
The upside means that if you're telling me that you're going
214
424000
2000
前景是如果你告诉我说
07:18
to be out there, five years out, making a million dollars a year --
215
426000
2000
我要在5年挣100万，
07:20
hmm. That's not really upside.
216
428000
2000
这不是真的前景。
07:22
Telling me you're going to be out there making a billion dollars a year --
217
430000
2000
你说你能一年挣10亿，
07:24
that's not believable.
218
432000
1000
这让我无法相信。
07:25
So it's got to be both sides.
219
433000
1000
所以它需要有两方面。
07:26
On the other hand, there are a lot of things that drive me down,
220
434000
2000
另外，有许多东西会给我泼冷水，
07:28
take the emotional level down,
221
436000
1000
降低我的情绪。
07:29
and you've got to recover from those.
222
437000
2000
你要能从这些东西中恢复过来。
07:31
And those, for example, are anything you tell me
223
439000
1000
比如，任何你告诉我的，
07:32
that I know is not true.
224
440000
1000
明显不真实的事情。
07:33
"We have no competition. There's nobody else
225
441000
2000
比如，“我们没有竞争对手，从来没有人
07:35
who's ever made a widget like this."
226
443000
1000
做过类似东西。”
07:36
Odds are I probably know somebody who has made a widget.
227
444000
2000
没准我就知道已经有人做过了。
07:38
And the minute you tell me that -- boom! You know,
228
446000
2000
当你告诉我这的一刹那，砰！
07:40
I discount half of what you're saying from then on.
229
448000
3000
我对你说的所有的话就开始有疑问了。
07:43
Anything that makes me think. Anything that I don't understand,
230
451000
3000
任何让我怀疑。任何让我不理解。
07:46
where I have to make the leap myself, in my own head,
231
454000
2000
任何让我需要我自己去猜测的，
07:48
is going to stop the flow of the presentation.
232
456000
2000
都会让这个演讲不流畅。
07:50
So, you've got to take me through like a sixth grader --
233
458000
2000
你要像教小学生一样，让一切可以很容易理解--
07:52
dub, dub, dub, dub, dub -- but without patronizing me.
234
460000
3000
咚咚咚咚--但是又没有居高临下的态度。
07:55
And it's a very tricky path to do it.
235
463000
2000
这很不容易做好。
07:57
But if you can do it, it works really, really well.
236
465000
2000
但是如果你做到了，就会很成功。
07:59
Anything that's inconsistent within the concept of your thing.
237
467000
3000
任何前后不搭的观念都会造成负面影响。
08:02
If you tell me sales of X, Y or Z are 10 million dollars,
238
470000
3000
如果你告诉我X, Y, Z的销售是1000万，
08:05
and the next slide, or five slides later, they're five million dollars.
239
473000
3000
下一页，或者是5页后变成了500万。
08:08
Well, one may have been gross sales,
240
476000
1000
也许一个是总销售额，
08:09
one may have been net sales,
241
477000
1000
一个是纯利润--
08:10
but I want to know that all the numbers make sense together.
242
478000
3000
但是我想知道这些数据是前后合理的。
08:13
And then finally, anything that's an error, or a typo,
243
481000
3000
最后，任何的错误，比如一个错字，
08:16
or a stupid mistake, or a line that's in the wrong place.
244
484000
2000
一个低级错误，一条放错位置的线。
08:18
That shows me that -- if you can't even do a presentation,
245
486000
3000
这都让我觉得你连个演讲都做不好，
08:21
how the heck can you run a company?
246
489000
1000
怎么能打理好一间公司呢？
08:22
So this all feeds in together.
247
490000
2000
所以这些全都很有关系。
08:24
All right, so the best way to do this stuff is to look at our betters,
248
492000
3000
那么，最好的学习方法就是看看成功的人，
08:27
look at people who have done this before.
249
495000
1000
看看别人是怎么做的。
08:28
So let's look at the most successful technology executive
250
496000
3000
那么让我们看看成功科技公司老总
08:31
in the business and see how a presentation goes.
251
499000
2000
是怎么做演讲的。
08:34
Bill Gates' PowerPoint presentation over here.
252
502000
2000
这是比尔盖茨的演讲。
08:36
Here's Gates doing a thing for Windows.
253
504000
2000
他在为Windows做一个演讲。
08:38
Is this the way you should do a PowerPoint presentation?
254
506000
2000
这是你应该学的方式么？
08:40
What do you think?
255
508000
1000
你们怎么想？
08:41
No. Who do you think we should look at as our role model?
256
509000
2000
不。那么我们应该学谁呢？
08:44
Oh, isn't that funny! There's another great one over here.
257
512000
2000
好笑吧！再看一个很棒的。
08:46
Yes? OK, Steve Jobs.
258
514000
2000
是不？Steve Jobs.
08:48
You want absolute -- this is the Zen of presentation, right?
259
516000
4000
你想要最棒的--这就是演讲的极致，不是么？
08:52
Here he is. One little guy, black jeans and stuff,
260
520000
2000
看他，个不高，黑裤子，便装，
08:55
on a totally empty stage.
261
523000
1000
在一个空旷的舞台上。
08:56
What are you focusing on?
262
524000
1000
你会集中在那里？
08:57
You're focusing on him! This is Steve Jobs.
263
525000
2000
集中在他身上！这就是Steve Jobs。
09:00
So, you know, our great -- these
264
528000
1000
所以，你知道，我们钟爱的--
09:01
wonderful long bullet points, a whole list of things, you know -- good!
265
529000
2000
美妙的，长长的要点，列表，等等 -- 很好！
09:03
No, they're not.
266
531000
1000
不，他们并不好。
09:04
The long bullet points are bad.
267
532000
2000
长长的要点很糟糕。
09:06
What's good? Short, short bullet points.
268
534000
2000
什么好？短，简短的要点。
09:08
But you know what?
269
536000
1000
但是其实，
09:09
Even better than short bullet points are no bullet points.
270
537000
3000
更好的是没有要点。
09:12
Just give me the headline over here.
271
540000
1000
给我标题就好了。
09:13
And you know what?
272
541000
1000
但是你知道吗？
09:14
How many bullet points or headlines does Steve Jobs use?
273
542000
2000
Steve Jobs用多少的要点或者是标题？
09:17
Basically none.
274
545000
1000
基本没有。
09:18
What do you do?
275
546000
1000
那么你该怎么办？
09:19
Best of all, images. Just a simple image.
276
547000
3000
最棒的是办法是用图片。一个简单的图片。
09:22
I looked at the image -- a picture's worth a thousand words.
277
550000
2000
我看一眼图片--百闻不如一见。
09:25
You look at the image and you see that, and you drop the whole thing.
278
553000
2000
你看一眼图片，看完后，清理思绪，
09:27
And then, you come back to me.
279
555000
1000
转回来注意到我。
09:28
And you're focused on me and why I'm such a great guy,
280
556000
2000
你专注在我的身上，想为什么我是个很棒的人。
09:30
and why you want to invest in me.
281
558000
1000
为什么你要给我投资。
09:31
And why this whole thing makes sense.
282
559000
1000
和为什么这个投资项目很合理。
09:33
So with that said, we only have a very, very short time.
283
561000
2000
说了这么多，我们只剩下很短的时间了。
09:35
So let's run through the things you've got to include
284
563000
2000
让我们来总结一下
09:37
in your presentation.
285
565000
1000
你演讲中要包括的要点。
09:38
Well, first of all, start out. None of these big, long-titled slides
286
566000
3000
首先，你一开场时，投影片不要使用过长的标题，
09:41
with blah, blah, blah, blah, blah, blah
287
569000
1000
也不要说一堆废话。
09:42
and I'm presenting to so-and-so, such-and-such a date.
288
570000
1000
比如我给谁演讲，在哪一天等等，
09:43
I know the day, I know who I am, I know you're presenting.
289
571000
2000
我知道日期，我知道我是谁，我知道你在演讲。
09:45
I don't need all that.
290
573000
1000
我不需要这些。
09:46
Just give me your company logo.
291
574000
1000
我只需要你公司的标志就够了。
09:48
I look at the logo, and it sort of ties it to my brain.
292
576000
1000
我看一眼标志，把它记在脑子里。
09:49
And then I come back to you. I'm focused on you, OK?
293
577000
3000
然后我就转向你，注意力集中在你身上，就这样。
09:53
You do that, you give me your quick
294
581000
1000
你要用一个15秒到30秒的介绍
09:54
15-second or 30-second intro, grab my attention.
295
582000
3000
来抓住我的注意力。
09:57
And then you want to give me a quick business overview.
296
585000
2000
然后你就要简短地介绍公司概况。
09:59
This is not a five-minute pitch. This is, you know, two sentences.
297
587000
3000
用不了5分钟，只要两句话。
10:02
"We build widgets for the X, Y, Z market."
298
590000
2000
我们给X,Y,Z 市场做...部件。
10:04
Or, "We sell services to help somebody do X." You know, whatever.
299
592000
3000
或者，我们给需要做X事情的人提供服务。如此等等。
10:07
And that is like the picture on the outside of a jigsaw puzzle box.
300
595000
3000
那就好像拼图游戏盒子上的整体图一样，
10:10
That lets me know the context.
301
598000
2000
让我就知道你公司的背景。
10:12
It gives me the armature for the whole thing
302
600000
1000
也让我对你将要给我演讲的整个内容
10:13
you're going to be going through.
303
601000
1000
有准备。
10:14
And it lets me put everything else in relation to something
304
602000
3000
让我可以把之后的信息
10:17
you've already told me.
305
605000
1000
和你已经告诉我的联系起来。
10:18
So there you go -- walk me through,
306
606000
1000
然后，你要向我介绍
10:19
show me who your management team is.
307
607000
1000
你的管理团队是谁。
10:20
It's helpful that you've had experience
308
608000
1000
如果你有过经验和做过类似的事情，
10:21
and you've done this kind of thing before.
309
609000
1000
这会给你们加分。
10:22
And I want to know the market -- the size of the market.
310
610000
1000
然后我想了解市场，市场的大小。
10:23
Why is this market worth getting at over here?
311
611000
2000
为什么市场的长期前景值得投资。
10:26
I want to know your product, and that's very important.
312
614000
2000
我想了解你的产品，那非常重要。
10:28
Now, this is not a product pitch, not a sales pitch.
313
616000
1000
但是这不是一个产品推销演讲，
10:29
I don't want to know all the ins and outs,
314
617000
1000
我也不想对你的产品
10:30
and the gazuntas and the yaddas and stuff.
315
618000
2000
有从里到外的深入理解。
10:32
I just want to know -- what the heck is it?
316
620000
2000
我只想知道--它到底是什么？
10:34
If it's a website, show me a screenshot of your website.
317
622000
2000
如果是个网站，展示给我你的网站截图。
10:36
You know, don't do a live demo.
318
624000
2000
但是不要做现场演示。
10:38
No, never do a live demo.
319
626000
1000
永远不要做现场演示。
10:39
Do a canned demo, or do something that lets me know
320
627000
2000
可以做录制好的演示，或者是其它的
10:41
why people are going to buy whatever it is.
321
629000
2000
只要让我了解到，人们为什么会去买它就好。
10:43
Then I want to know -- now that I know what you're selling,
322
631000
2000
然后，我想知道，--在知道你在卖什么之后--
10:45
tell me how you make money on it.
323
633000
2000
我想知道你怎么用它赚钱。
10:47
For every X you sell, you get Y, you do your services of Z.
324
635000
4000
卖掉X个商品，你可以赚到Y,你要提供Z服务。
10:51
I want to know what the business model is
325
639000
2000
我要了解你的商业模型是什么
10:53
on a sort of per-unit basis, or for the actual product
326
641000
3000
在单件产品的层面上，或者在你销售的实际产品的
10:56
that you're selling.
327
644000
1000
基础上。
10:57
I want to know who you're selling this thing to,
328
645000
1000
我想知道你把东西卖给谁，
10:58
in terms of customers.
329
646000
1000
你的客户群是谁。
10:59
And I want to know if you have any relationships
330
647000
1000
我也想知道你有没有任何关系
11:00
that are going to be special to help you.
331
648000
1000
可以对你有特别的帮助。
11:01
Whether you have a distribution relationship with somebody,
332
649000
2000
比如你有没有分发渠道，
11:03
you know, you have a producing partner. Or, you know,
333
651000
2000
或者是生产合作伙伴。或者是
11:05
again, validation.
334
653000
1000
再说一次，要有验证。
11:06
This helps to say you're bigger than just one little thing over here.
335
654000
3000
这些告诉我，你不仅仅是一个小小的公司。
11:10
But then, everybody has competition.
336
658000
1000
同时，所有人都有竞争者。
11:11
There has never been a company
337
659000
1000
从来没有任何公司
11:12
that doesn't have competition.
338
660000
1000
没有竞争者。
11:13
Even if the competition is the old way of doing something.
339
661000
2000
竞争者甚至也包括旧的做事方法。
11:16
I want to know exactly what your competition is,
340
664000
2000
我想准确地知道你的竞争者是谁，
11:18
and then that will help me judge
341
666000
2000
那会帮助我判断
11:20
how you fit into the whole operation over here.
342
668000
1000
你的运作模式是不是与你的市场相符。
11:22
But then, I want to know how you're special.
343
670000
1000
然后我想知道你的竞争优势是什么。
11:23
If I know what your competition does,
344
671000
1000
如果我知道了你的竞争者如何运作，
11:24
how are you going to prevent your competition
345
672000
2000
你怎么能阻止你的竞争者
11:26
from eating your lunch over here?
346
674000
1000
来分食你的午餐？
11:27
And then all this ties into the financial overview.
347
675000
2000
然后这一切都联系到财务纵览。
11:30
And you have to have -- you can't do a VC pitch
348
678000
1000
你必需要有--没有财务情况
11:31
without giving me your financials.
349
679000
1000
你根本无法集资。
11:32
I want to know three and, you know, a year or two back,
350
680000
3000
我想知道过去的三年--或者一两年前，
11:35
or as long as you've been in existence.
351
683000
1000
或者无论你存在了多久。
11:36
And I want to know three or four or five years forward.
352
684000
2000
我也想知道三到五年之后。
11:38
Five is a bit much. Probably four is rational.
353
686000
2000
五年可能太多，四年比较合理。
11:40
And I want to know how that business model that you showed me
354
688000
2000
我想知道，你在产品层面的商业模型，
11:42
on a product basis is going to translate into a company model.
355
690000
3000
如何转化成一个公司模型。
11:45
And, you know, how many widgets are you going to sell?
356
693000
1000
你能卖掉多少商品，
11:46
You're making X amount per widget.
357
694000
1000
你能从每个商品挣到多少.
11:48
I want to know what the driver is.
358
696000
1000
我想知道盈利驱动力是什么。
11:49
We're going to have 1,000 customers this year,
359
697000
1000
比如我们今年有1000个客户，
11:50
and 10,000 next year.
360
698000
1000
明年有10000个。
11:52
And our revenues are going to go this, that and the other thing.
361
700000
1000
我们的收入会如何增长，等等。
11:53
And so that gives me the whole picture for the next several years
362
701000
2000
这些让我了解到投资
11:55
into which I'm investing.
363
703000
1000
之后几年的蓝图。
11:56
And I want to know how the money you're going to get from me
364
704000
2000
我想知道我的钱
11:58
is going to help you get there.
365
706000
1000
怎么能帮助你实现这些目标。
11:59
You're going to open an offshore plant in China,
366
707000
3000
比如你要在中国开个工厂，
12:02
you're going to spend it all on sales and marketing,
367
710000
2000
比如你要把它们花费在市场和销售上，
12:04
you're going to go to Tahiti, or whatever out there.
368
712000
2000
或者你要去塔希提岛，或者随便哪里。
12:07
But then comes the ask.
369
715000
1000
然后就到了开口要钱的时候了。
12:08
This is where you tell me how much you actually want to get.
370
716000
1000
就是你想从我这里融资多少。
12:10
You're looking for 5 million -- at what kind of valuation?
371
718000
3000
比如说你要融500万--那么公司的估价是多少？
12:13
Two million at 100,000.
372
721000
1000
200万，十万？
12:14
What's the money in so far? Who invested?
373
722000
3000
到目前都有谁投资了？
12:17
I hope you invested personally.
374
725000
1000
我希望你自己投了。
12:18
Because I'm following on.
375
726000
1000
因为我是跟着你的。
12:19
If you can't invest in your own thing, why should I invest in it?
376
727000
2000
如果你自己都不投，我怎么会投？
12:21
So I like to know if you have friends and family,
377
729000
2000
所以我希望知道你是否有朋友，家人，
12:23
or angel investors in there, or you've had more VCs before.
378
731000
2000
或者天使投资，其它的投资人投过了。
12:25
What's the capital structure up until this point?
379
733000
2000
你目前的资产结构是什么样的？
12:28
And then finally, having done all that,
380
736000
1000
然后最后，你做完了这一切，
12:29
you've now told me the whole thing,
381
737000
1000
告诉了我所有的事情。
12:30
so now you've got to bring it back to that conclusion.
382
738000
2000
你就要回到总结。
12:32
This is that rocket going up.
383
740000
1000
就好象火箭升天。
12:34
So hopefully everything has been positive, positive, positive,
384
742000
2000
一切都是向上的，向上的，向上的，
12:36
more positive.
385
744000
1000
向上的。
12:37
And everything, everything you say clicks with me,
386
745000
1000
你说的一切都让我感到一拍即合，
12:38
and it all makes sense.
387
746000
1000
一切都很合理。
12:39
And I'm thinking, "This is really, really great."
388
747000
2000
我想，“这太棒了，太棒了。”
12:41
And then you take me back to your logo.
389
749000
1000
然后你再从新展现给我你的标志。
12:42
Just your logo on the screen.
390
750000
1000
仅仅你的商标。
12:44
And I look at the logo -- okay, good.
391
752000
2000
我看一眼商标，好，
12:46
Now I come back to you. Nothing else to look at, right?
392
754000
1000
我又转向你，没有其它可看的了，不是么？
12:47
And now, you've got to wrap it up and tie it up here.
393
755000
2000
这时你要适时地总结。
12:50
You've got to give me the final, you know -- boom! --
394
758000
2000
你要给我最后的惊喜。
12:52
the final pitch that's going to send me into space.
395
760000
1000
就像把火箭送入太空一样。
12:54
Now, in the process of doing this over here,
396
762000
2000
在这个投资演讲过程中，
12:56
how do you remember the sequences and doers?
397
764000
2000
你怎么能记住这个顺序呢？
12:59
You've noticed here that I'm not looking at the screen, right?
398
767000
1000
你注意到了我没有看屏幕，对吗？
13:01
The screen is, actually, in this room, is set up so it's in front of me.
399
769000
2000
这个屋子的屏幕实际上在我背后，
13:03
So, I couldn't even see if I wanted to.
400
771000
1000
我想看也看不到。
13:05
So now, how do I know what's going on here?
401
773000
1000
那我怎么知道上面是什么？
13:06
Well, I've got a laptop in front of me,
402
774000
1000
其实，我这里有台笔记本，
13:07
but you're looking at me. And you're looking at this.
403
775000
2000
你看着我，你看着这里，
13:10
What do you think I'm looking at?
404
778000
1000
你想我在看什么？
13:11
You think that I'm looking at that?
405
779000
1000
你想我看的是这个么？
13:12
No, I'm looking actually at a special version
406
780000
2000
不是，我看的是个
13:14
of PowerPoint over here,
407
782000
2000
幻灯片的特殊的版本，
13:16
which shows me the slides ahead, the slides behind,
408
784000
2000
它让我能看到之前和之后的幻灯片，
13:18
my notes from here, so I can see what's going on.
409
786000
2000
还有我的笔记--所以我能看到是怎么回事。
13:20
PowerPoint has this built into every copy of PowerPoint
410
788000
2000
PowerPoint都有这个功能，
13:22
that's shipped.
411
790000
1000
出厂的时候就有。
13:23
If you use Apple's Keynote, it's got an even better version in Keynote.
412
791000
3000
如果你用苹果电脑的Keynote，它的这个功能还要更好。
13:26
And then there's another program, called Ovation,
413
794000
2000
还有一个软件叫Ovation。
13:28
you can get from Adobe, that they just bought last summer.
414
796000
2000
可以从Adobe买到。
13:30
Which actually helps you run the whole timers,
415
798000
2000
它可以帮助你计时。
13:32
and it lets you figure out what's going on.
416
800000
2000
帮助你知道下面要讲什么。
13:34
So, here's my wrap up to take you to the moon, right?
417
802000
3000
好，现在该让我总结，把你送到月球去，对吧？
13:37
David's -- I usually do a top 10, we don't have time for top 10s.
418
805000
2000
我一般有10个要点，但是我们没有时间了。
13:39
So David's top five presentation tips.
419
807000
1000
所以我只说5点，
13:40
Number one: always use presenter mode,
420
808000
3000
第一，使用演讲模式，
13:43
or Ovation, or presenter tools,
421
811000
3000
或者，Ovation，或者Presenter Tools--
13:46
because it lets you know exactly where you're going.
422
814000
1000
它帮助你，使你清楚的知道你在做什么。
13:47
It helps you pace yourself, it gives you a timer
423
815000
2000
它帮助你调整自己的速度，给你提供时间，
13:49
so we end on time and the whole bit.
424
817000
1000
所以我们会在正点结束。
13:51
Number four: always use remote control.
425
819000
2000
第二，用遥控器。
13:53
Have you seen me touch the computer?
426
821000
1000
你看过我接触电脑么？
13:54
No, you haven't. Why not?
427
822000
1000
没有，为什么？
13:55
Because I'm using remote control over here.
428
823000
1000
因为我在用遥控器。
13:56
Always use remote control.
429
824000
1000
永远要用遥控器。
13:57
Number three:
430
825000
1000
第三，
13:59
the handouts you give are not your presentation.
431
827000
1000
讲义不是你的演讲。
14:00
If you follow my suggestions, you're going to have a very spare,
432
828000
2000
如果你听从了我的意见，
14:02
very Zen-like presentation, which is great for conveying
433
830000
3000
你会有个很成功的演讲，有力的传递
14:05
who you are and getting people emotionally involved.
434
833000
1000
你是谁，同时还会调动人的情感。
14:06
But it's not really good as a handout.
435
834000
2000
但是它和讲义不一样。
14:08
You want to have a handout that gives a lot more information,
436
836000
1000
你需要有个详细的讲义，
14:09
because the handout has to stand without you over here.
437
837000
2000
因为你不在的时候，人们可以看讲义来了解你的公司。
14:12
Number three:
438
840000
1000
第三，
14:13
don't read your speech.
439
841000
1000
不要阅读你的演讲。
14:14
Can you imagine? "Well, you should invest in my company
440
842000
2000
想象一下？“投资我的公司吧，
14:16
because it's really good."
441
844000
1000
因为它很棒。”
14:17
It doesn't work, right? Don't read your speech.
442
845000
1000
这不能成功的，不是么？不要阅读你的演讲。
14:19
And the number one presentation tip:
443
847000
2000
最重要的演讲技巧：
14:21
never, ever look at the screen.
444
849000
1000
永远也不要盯着屏幕。
14:22
You're making a connection with your audience over here,
445
850000
2000
因为你在和你的听众建立一种联系，
14:24
and you always want to do a one-on-one connection.
446
852000
3000
你要保持这种一对一的联系。
14:27
The screen should come up visually behind you,
447
855000
2000
屏幕应该在你身后出现，
14:29
and supplement what you're doing instead of replace you.
448
857000
2000
补充你，而不是替代你。
14:31
And that is how to pitch to a VC.
449
859000
2000
这就是怎么做集资演讲。
ABOUT THE SPEAKER
David S. Rose - Angel Investor"The Pitch Coach" David S. Rose is an expert on the business pitch. As an entrepreneur, he has raised millions for his own companies. As an investor, he has funded millions more.
Why you should listen
David S. Rose is a split-screen legend to the world's entrepreneurs. He's been both a mentor to hundreds of startup hopefuls and, sometimes—to the talented and fortunate—a funder. His rapid-fire seminars on pitching to venture capitalists are celebrated and sought-after. He's helped invest many millions of dollars in startups through New York Angels, meanwhile raising tens of millions for
his own companies. His New York Times bestselling book Angel Investing has become the definitive how-to guide for anyone considering making or receiving angel investments. And as Associate Founder—and Founding Track Chair for Finance, Entrepreneurship & Economics—of Singularity University, he is one of the world's leading theorists on the future of business in a world of exponential technology growth.
Fusing these interests under Rose Tech Ventures , Rose's mission is to give future movers-and-shakers support and encouragement. Gust, the international financing platform that he founded, connects hundreds of thousands of entrepreneurs to tens of thousands of angel investors in over 100 countries, and powers many of the world's major startup ecosystems. Gust was named the world's most innovative financial technology company by SWIFT, and has won the CODiE Award for Best Collaboration Solution for three years in a row. David's new technology incubator is a "greenhouse to nurture the seedlings of future entrepreneurial superstars."
David S. Rose | Speaker | TED.com