@brentlarue on Nov 26, 2014
The Startup Asia conference is live and in full-swing in Jakarta. Day one wrapped with lots of interesting speakers covering a wide array of topics from petting tigers to how startups can be successful in the Indonesian market. The booths were buzzing and founders were sweating preparing their pitches for investor speed dating. Two of the most notable presentations coming out of the Kickstart room were Ana LaRue’s fireside chat speaking about Path’s success in Indonesia and Khailee Ng’s 5 moves to master the 3-minutes pitch.
Path’s Success in Indonesia
Ana LaRue is a Marketing Manager at Path, a San Francisco based startup focused on bringing happiness, connection and meaning to personal life through design and mobile technology. Ana works on growth, engagement and marketing related projects and is currently living in Indonesia, where she is helping Path set-up a local office. Ana has extensive experience in online marketing where she worked in publishing and impact investing sectors.
Path is making big strides in Indonesia. Their presence here is a sign that there is much more to come for Indonesian users. With the goal of hiring a country manager and setting up an office Indonesia, Ana says Path is dedicated to understanding and catering to the Indonesian market. Plans are in the works to collaborate with brands and form strategic partnerships with Indonesian companies to help foster growth in the nation. Already, Path has worked with local Indonesian artists to create stickers used in their messaging app, another way which Path has worked to delight their users. But the growth Path has seen has not come without it’s challenges and change doesn’t always come easy. Rest assured, Ana says Path is paying attention and committed to creating meaningful experiences for it’s users, especially those in Indonesia. Stay tuned on what lies ahead on the Path blog.
500 Startups’ 5 Moves to Master the 3-Minute Pitch
Khailee Ng is Managing Partner at 500 Startups. His focus areas include global expansion, managing the Southeast Asian fund, and building bridges between emerging markets and Silicon Valley. Born and raised in Malaysia, he started creating web products at age 15. By the age of 30, he built a news company SAYS.com (now listed in the Malaysian stock exchange as REV Asia) and ecommerce company GroupsMore (acquired by Groupon). He hopes to create tomorrow’s game changing companies by providing people from anywhere in the world with equal access to global resources and opportunities.
The charismatic Khailee took with stage brooding with excitement. For all the young founders in the room, Khailee shared an excellent framework for creating a consice and effective pitch. His approach approached the art of pitching from a different angle. Don’t think about what you want to say first. Instead, think of the reactions you want to get, and then form what you want to say around those.
His framework defines those 5 effects as:
“I want to know more”
“What a great idea”
“this is going to be huge”
“This is the team to do it”
“I want to be part of this”
Some key strategies to doing this are amplifying the problem. Once the problem has been clearly defined, take a small problem that a specific user had where you were able to effectively provide a solution. Once you do this, juxtapose this small problem to a larger audience. Next, get into some number, but don’t try to dazzle the audience with huge market size numbers with top-down thinking, but instead think from the bottom up. How many users will you foreseeably have? How money do you make form each user? And there you have a reliable and believable number. To further establish credibility in the figure, speak about how many users you already have and how you were able to acquire them (via Pinterest, Twitter, Launch page, etc.). Build onto this number by describing how much you expect to grow and what that means for the monetary value of your venture.
Next, describe you team. But don’t just list the names and positions of your team, calling them pirates, ninjas, or whatever. Instead, start by describing what competencies are needed to make this successful and demonstrate the unique quality of each individual and how they are the best team for the job. Lastly, let the audience (users, media, investors) know how they can be a part of it. There are many ways to achieve this effect, whether by emotional appeal or reiterating you vision, but you want to qualify who you want to be involved specifically. Throwing a huge net will make you appear desperate and without a plan. Become desirable by pre-qualifying the investor you are looking for and the type of user you hope to satisfy.
And there you have it, looking forward to an exciting day two. Be sure to tweet and share below!