7 Tips for #crushingit on Techstars (and any other) Demo Day
Demo Day is a culmination of the Techstars and other accelerator programs. Companies, investors, mentors, and community come together to review the progress that companies made and to celebrate their hard work.Here are the 7 tips for how to maximize the impact of your Demo Day.
1. Set clear goals
Whatever you are doing - set the goals & have a plan. Don't come to Demo Day unprepared thinking that great things will magically happen for you. It won't work. Have clarity on what you are trying to get out of the Demo Day and focus on that. See my GMT post for more on how to do this.Want to meet investors? Review who is coming, and how you will connect. Want to generate more business? Run a special. Want to create buzz - connect with the press and post on social media. Whatever your goals are, plan ahead to make sure you hit them.
2. Deliver an awesome Pitch
Your pitch is the key ingredient of the Demo Day. Make it awesome, make it memorable, make it amazing. You are up against other companies, and even worse, against people's phones. Make investors, press and everyone else pay attention. Here are the pitch tips from David Cohen, founder and Managing Partner at Techstars. And make sure the pitch is clear.
3. Make a splash
Have a trick up your sleeve? Big announcement? Big new customer? Big promotion? A great new angel investor? Something else truly remarkable? Announce it on the Demo Day. This is the place and time for big news and big reveals.
4. Meet investors
Most companies coming out of Techstars and other accelerators are looking to raise financing. Demo Day is a great place to connect with investors, particularly angel investors. Make it super clear during your pitch how investors can connect with you. Plan ahead, understand who is coming, understand who is relevant to you, reach out to them, and book your meetings. Have a strategy for meeting investors during Demo Day. Quickly connect, get their contact info and follow up to schedule a meeting.
5. Put your entire team to work
You have a team, and a Demo Day is a great place to put your entire team to work. Don't just rely on your CEO to do everything. CEOs will be super busy with the pitch, investors and media. Plan ahead and help your CEO. Every founder & early team member should be able to do the elevator pitch, look for investors, meet the press, help sift through people, and schedule meetings.
6. Generate Buzz
Own press and social media. Identify the key reporters and reach out to them ahead of time. Explain your business clearly and concisely. Emphasize progress and articulate your roadmap. Also, engage heavily on social media. Prepare tweets and Facebook posts, and ask your team, family, friends, customers to amplify your message during the Demo Day. Press and social media buzz will help you get more investor and customer interest.
7. Make plans for after Demo Day
Demo Day is not the end of your journey, but just the beginning. Maximize the Demo Day by planning for weeks ahead. Schedule investor meetings and press interviews. Announce more things in weeks after the Demo Day. Come up with the plan to execute your fundraising and sustain the buzz around your company.
