In deze lezing geeft Venture Capital expert Henny van der Pluijm (www.venturemedia.nl) aan dat we eigenlijk moeten praten over Weeg Kapitaal. Interessante materie!

1. Create a virtual
track record
How 21st Century entrepreneurial
techniques help start-ups attract venture
capital
- Henny van der Pluijm -
www.venturemedia.nl

2. Short Bio Henny
1987. MBA and Master psychology
1987. Started 1st company
1988. Severe family problems
1989: Exhausted, end of company
1990. Job, project manager
1991 – 1992: Valley of death
1992 – 1998: 2nd company: Business and ICT
journalist (self employed)
1998 – 2010: Launch magazine, ICT industry
analist, VC analist
2001 – 2012: Publisher at Venturemedia.nl
www.venturemedia.nl

3. What is venture capital?
The word “Venture” is untranslatable.
4 Critical elements of “classic” venture capital
Risk taking
Delayed pay day for the investor
The investor uses his own money
Personal involvement of the investor is key to maximize
chance of success
www.venturemedia.nl

4. What venture capital is not
“Durfkapitaal”?
- Suggests a form of capital where the secret is in daring to
take risk.
- Dutch government definition of “durfkapitaal” creates even
more confusion. Venture capital is not a loan.
“Risicokapitaal”?
Stresses risk taking per se.
www.venturemedia.nl

5. Right Dutch translation of venture
capital
Waagkapitaal
Afrikaans: waagkapitaal
German: Wagniskapital
www.venturemedia.nl

6. Why this is important
The investor does not like to take risks.
Investing is an exercise in evaluation
The investor evaluates the investment opportunity on the
basis of experience, intellectual knowledge about financial
ratio’s and intuition
In other words, the investor “weighs” the opportunity
That is a process in itself and continues after investment
www.venturemedia.nl

7. What does the investor weigh?
Main factors:
Amount needed
Purpose of needed funds
Experience of management team relevant to
successful execution
Possible exit strategies
Track record of target company so far
ROI and projected ROI
The last two factors can be devastating for a startup
www.venturemedia.nl

8. Cockpit Dashboard
www.venturemedia.nl

9. Company Dashboard
www.venturemedia.nl

10. What to do?
. Create a virtual track record …
... by test selling minimum viable products (MVP’s) …
… or no product at all.
In other words, sell the product before creation.
www.venturemedia.nl

11. Track record -> Virtual track record
Optimize marketing process before creation
- measure conversion percentages every step of the process
- optimize conversion by using techniques like A/B-splitting
Purpose:
- measure traction without committing much time and any
capital
- project ROI without having a track record
- include your virtual ROI in your business plan
www.venturemedia.nl

12. Want more detail?
Since around 1995, the field of entrepreneurship has
been enriched by self published books, written by
entrepreneurs.
. People like Michael Gerber, Thomas Stanley, Robert
Kiyosaki, Brian Tracy, Guy Kawasaki, Tim Ferriss,
Steven Blank, MJ DeMarco.
www.venturemedia.nl

13. Popular entrepreneur books to take
with a grain of salt
“Blue Ocean Strategy.“
Contains good elements, but is a rehash of Michael
Porter material. Your U.S. competitor who knows
Porter will be 15 years ahead of you.
“Business model Generation”
Book written by consultants to be applied in large
companies
www.venturemedia.nl

14. Books by serial entrepreneurs
Entrepreneurship as a science
The Four Steps to the Epiphany – Steven G. Blank
The Lean Startup – Eric Ries
The Four Hour Work Week – Tim Ferriss
Built to sell – John Warrilow
The Millionaire Fastlane – MJ DeMarco
MJ DeMarco: virtual Nobel prize winner entrepreneurship
(His book TMF is a must read)
www.venturemedia.nl

15. Takeaways
Entrepreneurial success is not an accident
Entrepreneurial investors know this
It’s all about weighing, measuring and steering
Dutch translations of venture capital confuse the issue
Start-ups have no track record, but …
21st Century technology can compensate for that
Your virtual track record can be your passport to funding
www.venturemedia.nl

16. Productions Venturemedia.nl
www.venturemedia.nl