David S. Rose: 10 things to know before you pitch a VC for

翻译人员: Han Jun Zeng 校对人员: An Li

Good morning.

早上好。我叫David Rose。

My name is David Rose.

I am a serial entrepreneur turned serial investor.

我以前是个连续创业者,后来变成了连续投资者。

And by the use of pitching PowerPoints to VCs,

我用powerpoint做演讲，集资

我亲身利用Powerpoint从风险投资者那儿，

I have personally raised tens of millions of dollars

from VCs through PowerPoint pitches.

集过千万美金。

And turning to the other side of the equation,

当我变成了一个投资人之后，

I've personally supervised the investment of tens of millions of dollars

我自己监督了

对多个公司的千万美金的投资。

into companies who have pitched me with PowerPoint presentations.

他们也是用PowerPoint演讲来打动我给他们投资。

我想，这些可以让我自信的说

So I think it's safe to say

I know a little bit about the process of pitching.

我对集资还是有一点了解的。

你第一个要想明白的问题就是：

So, the very first question you've got to figure out is:

What is the single most important thing that a VC is looking for

当你去给投资人

展示你的商业计划的时候，

when you come to them pitching your new business idea?

他们最想要的是什么？

There are obviously all kinds of things --

当然有很多的因素，

business models and financials and markets and this and that.

比如商业模型，财务，

还有市场。

但是，在所有你要做的事中，

Overall, of all the things that you have to do,

what is the single most important thing

哪一样是投资人

the VC is going to be investing in?

最看重的呢？

Somebody? What?

谁来猜猜？是什么？

Audience: People!

观众：人。

David Rose: People! You! That's it -- you are the person.

人？你！没错，就是你。

其实整个集资演讲的过程

Therefore, the entire purpose of a VC pitch is to convince them

就是要说服投资者，你就是这个

that you are the entrepreneur in whom they are going to invest their money

他们即将投资的创业者，

and make a lot of money in return.

会帮助他们赚到更多的回报。

Now, how do you do this?

那，你怎么能做到呢？

You can't just walk up and say,

你不能上去就跟人家说，

"Hi, I'm a really good guy, good girl, and you should invest in me." Right?

“你好，我是个特棒的人，

投资在我这儿吧。”

在你集资演讲的过程中，你只有很短的几分钟。

So in the course of your VC pitch -- you have a very few minutes;

most VC pitches, angel pitches, are about 15 minutes,

大多数投资演讲的时间 --

对创投天使大概是15分钟

most should be less than half an hour --

对其它大概不到30分钟。

people's attention span, after 18 minutes, begins to drop off.

人的注意力大概会集中18分钟， 然后集中力就开始下降了。

这是实验的结果。

Tests have shown.

所以，在18分钟，或者10分钟，更或者5分钟之内，

So in that 18 or 10 or five minutes,

you have to convey a whole bunch of different characteristics,

你必须要传达许多特质。

about 10 different characteristics,

在这短短几分钟之内，

while you're standing up there.

你大概要传达10个特质。

那么哪一条要传达的信息是最重要的？

What's the single most important thing you've got to convey? What?

什么？

Audience: Integrity.

观众：诚实。

DR: Boy, oh boy, oh boy!

没错！和我的幻灯片上一摸一样。

That's a straight line, look at that!

他不是我的托啊。

And I didn't even prompt him.

Right, integrity. The key thing.

你是对的，就是诚实。这是最重要的一点。

I would much rather invest in, take a chance on,

我更愿意投资给--

或者说在一个诚实的人身上下注。

somebody who I know is straight than where there's any possible question

而不是，一个让我怀疑到

他的动机

of who are they looking out for, and what's going on.

或者有小动作的人。

So the most important thing is integrity.

所以最重要的就是诚信。

那么除了诚信之外，第二重要的是什么？

What's the second most important thing?

看看你们能不能回答这个。

Let's see if you can get this one.

观众：自信。

Audience: Self-confidence.

DR: Close enough. Passion.

很接近了！是激情。

Right? Entrepreneurs, by definition, are people who are leaving something else,

对，你想--

创业者的定义

就是要抛弃其它的东西，开始一个新的世界，

starting a new world, creating and putting their lifeblood into this thing.

而且会把自己的心血倾注到这个新世界中的人。

You've got to convey passion.

所以你一定要传递激情。

If you're not passionate,

如果你对你自己的公司都没有激情。

why should anyone else be, or put money into your company

其他人怎么会对它有热情？

如果你对自己的公司都没有激情？

if you're not passionate about it?

别人怎么会投钱到你的公司。

所以，诚信和激情是两件最重要的事情。

Integrity, passion: the most important things.

Then there's a whole panoply of other things you've got to wrap up

之后你还需要许多其他事情，

去充实你要传递给投资人的

in this package you're presenting to a VC.

整体形象。

Experience: you've got to be able to say,

经验。

你要能告诉他们，“我之前干过这个。”

"Hey, you know, I've done this before."

这代表了你曾经试过创业，创造价值，

"Done this before" is starting an enterprise, creating value,

并且从头坚持到尾。

and taking something from beginning to end.

这就是为什么投资人喜欢投资给连续创业者。

That's why VCs love to fund serial entrepreneurs --

even if you didn't do it right the first time,

因为即使你第一次没有成功，

you've learned the lessons, which puts you in good stead the next time.

你已经从失败中学到了功课，

这些经验会在你第二次开创时会很有用。

同时，

Along with the experience of starting an enterprise or running something --

除了曾经开过公司，

doesn't have to be a business,

其它的经验也有帮助。

比如说学校的组织，

it can be an organization in a school, a not-for-profit.

或者是非盈利机构。

但是他们想看到一些组织经验。

But experience in creating an organization.

下一个就是知识。

Next: knowledge.

如果你说

If you tell me

you're going to be the developer of the map of the human genome,

你要画出人类基因的图谱，

你最好要知道基因是什么东西。

you better know what a human genome is; I want you to have expertise.

我的意思是，你要有专业知识。

I don't want somebody who says,

我不想看到有人说，

"I've got a great idea in a business I know nothing about.

嘿，我有个特别好的主意，但是我对它一点也不了解。

I don't know who the players are, what the market is like."

我不知道我的竞争者，

我不了解市场是什么样的。

You've got to know your market, your area.

所以你要了解你的市场。

你要了解你的领域。

你要有所有

And you have to have the skills that it takes

运营一个公司的能力。

to get a company going.

这些能力包括了技术能力，

Those skills include everything from technical skills

if it's a technology business,

如果是科技公司的话， 还有市场营销，

to marketing and sales and management and so on.

管理，等等。

But, you know, not everybody has all these skills.

但是，不是每个人都能具备所有的能力。

Very few people have the full set of skills it takes to run a company.

只有很少的人会有

运营一个公司的所有技能。

What else do you require? Well, leadership.

那么还需要其它什么呢？

领导力。

You've got to be able to convince us that you either have developed a team

你要能说服我们，

你，或者你的团队

that has all those factors in it, or else you can.

拥有了所有这些技能。

And you have the charisma and the management style

你要有感染力，还有管理的方式

and the ability to get people to follow your lead,

能让人们跟随你的领导，

to inspire them, to motivate them to be part of your team.

鼓舞，激励他们成为你团队的一部分。

Having done all that,

但做好了这些后，

what else do I want to know as a VC?

做为一个投资者，我还想知道什么呢？

I want to know that you have commitment.

我要知道你能坚持你的承诺。

That you are going to be here to the end.

你会从开始坚持到最后。

I want you to say -- or I want you to convey --

我要你告诉我，传递给我，

that you are going to die if you have to, with your very last breath,

你死都要坚持，坚持到最后一口气。

愿意拼死一搏。

your fingernails scratching as they draw you out.

你会让我的钱周转

You'll keep my money alive and make more from it.

你会用它们挣更多的钱。

I don't want someone who'll cut and run at the first opportunity.

我不想投资在一位一碰到危机

就逃跑的人。

因为没有什么事情会是一直顺利的。

从来没有一个被投资的公司

Bad things happen.

There's never been a venture-funded company where bad things didn't happen.

是一帆风顺的。

所以我想要知道你会承诺

So know that you're committed to the very end.

坚持到最后。

You've got to have vision to see where this is going.

你还要有视野。

你要能看到你公司前面的方向。

I don't want another "me too" product.

我不想看到一个“我也是”的产品。

我想找的人要知道，他们可以改变世界。

I want somebody who can change the world out there.

But on top of that, I need realism,

当然，这要建立在现实的基础上。

Because while changing the world is great, it doesn't always happen.

我要知道你明白，

尽管改变世界是很美好的事，但那并不常常发生。

And before you get to change the world,

在你改变世界之前，

bad things are going to take place;

总会有各种难题。

you have to deal with that.

而你要能解决这些难题。

And you have to have rational projections.

你要有理性的计划。

Finally, you're asking for my money --

最后，当你向我筹钱时，

not just because it's my money, but because it's me.

不仅仅是因为我的钱，还因为我。

你要能听别人的指导。

You need to be coachable.

我要知道你有聆听别人的能力。

I need to know you have the ability to listen.

We've had a lot of experience.

我们都有很多经验--

People who are VCs or angels investing in you have had experience,

这些投资人，天使投资者

都有很多经验，他们想要知道

and they'd like to know that you want to hear that experience.

你想听，学这些经验。

那么，你怎么能够在10分钟里传递这10件事，

So how do you convey these 10 things in 10 minutes without saying them?

又不至于说太多话呢？

You can't say, "I've got integrity, invest in me!"

你不能说，“嘿，我很诚实，

给我投资吧！”

你要在整个演说过程中不露声色地

You've got to do a whole pitch that conveys this without conveying it.

来传达这些信息。

Think about your pitch as a timeline.

要把你的演说当成一个时间轴。

它从你进门的那一刻开始。

It starts off, you walk in the door.

他们在这一刻之前对你一无所知。

They know nothing whatsoever about you.

你要带动他们的情绪--

You can take them on an emotional -- all pitches, all sales presentations,

所有的演说，所有的销售演讲，都要带动人们的情绪。

are emotional at some level.

情绪可以变浓，也可能会变淡，对不对？

You can go up, you can go down, right?

这个过程会从开始持续到最后。

And it goes from beginning to end.

You walk in, the first thing you've got to do,

你走进门。你第一件要做的事情--

the overall arc of your presentation, it's got to start like a rocket.

就是要让你的演讲快速升温--

你要像个火箭一样开始。

你大概有10秒钟--10到30秒钟，

You've got maybe 10 seconds --

between 10 and 30 seconds, depending on how long the pitch is --

根据你总共的时间--来吸引投资人的注意力。

to get their attention.

In my case, I've invested.

以我为例：“我投资过。我用集资演说得到

I've gotten millions of dollars from PowerPoint pitches.

上千万的投资，

我也投资过上千万的资金。”

"I've invested millions." That should get you right there.

就象这样，让你有个成功的开始。

This can be a fact or something counterintuitive.

这也可以是一个出其不意的情况，

或者是一个故事，一个经历。

It can be a story or an experience.

But you've got to grab their emotional attention, focused on you,

不管是什么，你要从一开始就要抓住他们的情绪，

让注意力集中到你身上。

within that first few seconds.

And then from there, you've got to take them

然后，你要带着他们开始一个

on a very solid, steady, upward path, right from beginning to end.

坚固，稳定的上升线。从开始直到结束。

Everything has to reinforce this.

你的一切表现都要加强这一点。

And you've got to get better and better and better,

你要把情绪调动的更浓，更浓，更浓。

revving up to the very end,

直到最后。

then you've got to -- boom! --

然后再最后，你要--轰！--拉他们进来，

knock them out of the park.

让他们不能在安坐一旁。

You want to get them to such an emotional high

你要把他们的情绪调动到，

他们想马上给你写张支票，

they're ready to write you a check, throw money at you,

在你离开之前把钱扔给你。

before you leave.

How do you do that?

好，怎么做到这个？

First of all, logical progression.

首先，要有合理的发展。

Any time you go backwards, any time you skip a step --

任何时候你后退，或者是跳过什么步骤--

就像你走到一个楼梯，发现有些台阶不见了，

imagine walking up a staircase where some of the treads are missing,

或者是台阶的高度不一样。

or the heights are different.

你会停下来，想搞明白这是怎么回事。

You stop, you need to figure out a nice, logical progression.

你需要一个合理的递进。

Start with what the market is: Why are you going to do X, Y or Z?

从告诉他们你的市场开始。

你为什么要创业，一，二，三。

你要告诉他们你会怎么做，

And then you've got to tell me how you're going to do it,

你要做什么，你怎么做。

and what you're going to do.

And it's got to flow from beginning to end.

从头到尾都要很流畅。

You've got to let me know there are touchstones,

你要让我知道这些是可信的。

to tie in to the rest of the world out there.

你要把你所要做的和外界联系起来。

For example, reference companies I've heard of,

例如，

如果你提到我听说过的公司，

or basic items in your business.

或者是你公司的基本要点的话，

我就想更多的了解他们。通过我能够理解的事情：

I want to know about things that I can relate to:

validators, or anything that tells me somebody else has approved this,

我需要验证，这是否已经得到其他人的认同。

or there's outside validation.

或者是外界的证明。

It can be sales; it can be you got an award for something;

比如销售情况，比如一些奖项。

it can be people have done it before;

或者，有别人做过相似的事情，

it can be your beta tests are going great, whatever.

或者是你的测试版反响很好。

无论是什么，我需要证明。

I want to know validation -- not just what you're telling me,

证明不只是你告诉我能成功，

而是其他人，或者是其他事

but that somebody or something else out there

says this makes sense.

证明你说得有道理。

And then, I'm looking for the upside; I need a believable upside.

再有，因为我在看你是否有前景，

你需要有可信的前景。

这有两个部分。

That's two parts; it's got to be upside and believable.

一是要有前景，二是要可信。

前景是如果你告诉我说

The upside means if you tell me that five years out,

我要在5年挣100万，

you're making a million dollars a year, that's not really upside.

这不是真的前景。

Telling me you'll be making a billion dollars a year --

你说你能一年挣10亿，

这让我无法相信。

that's not believable.

所以它需要有两方面。

So it's got to be both.

另外，有许多东西会给我泼冷水，

On the other hand are things that take the emotional level down.

降低我的情绪。

你要能从这些东西中恢复过来。

You have to recover from those.

比如，任何你告诉我的，

For example, anything that I know is not true.

明显不真实的事情。

比如，“我们没有竞争对手，从来没有人

"We have no competition. Nobody makes a widget like this."

做过类似东西。”

没准我就知道已经有人做过了。

Odds are I know somebody who's made a widget,

当你告诉我这的一刹那，砰！

and the minute you tell me that,

I discount half of what you're saying from then on.

我对你说的所有的话就开始有疑问了。

Anything I don't understand,

任何让我怀疑。任何让我不理解。

where I have to make the leap myself, in my own head,

任何让我需要我自己去猜测的，

will stop the flow of the presentation.

都会让这个演讲不流畅。

So you've got to take me through like a sixth-grader --

你要像教小学生一样，让一切可以很容易理解--

咚咚咚咚--但是又没有居高临下的态度。

dub, dub, dub -- but without patronizing me.

And it's a very tricky path.

这很不容易做好。

But if you can do it, it works really well.

但是如果你做到了，就会很成功。

Anything that's inconsistent within your concept --

任何前后不搭的观念都会造成负面影响。

如果你告诉我X, Y, Z的销售是1000万，

if you tell me sales of X, Y or Z are 10 million dollars,

five slides later, they're five million dollars ...

下一页，或者是5页后变成了500万。

One may have been gross sales, one may have been net sales,

也许一个是总销售额，

一个是纯利润--

but I want to know that all the numbers make sense together.

但是我想知道这些数据是前后合理的。

And then, finally: anything that's an error or a typo,

最后，任何的错误，比如一个错字，

or a stupid mistake or a line that's in the wrong place --

一个低级错误，一条放错位置的线。

这都让我觉得你连个演讲都做不好，

that shows me that if you can't do a presentation, how can you run a company?

怎么能打理好一间公司呢？

所以这些全都很有关系。

So this all feeds in together.

The best way to do this is to look at our betters,

那么，最好的学习方法就是看看成功的人，

people who have done this before.

看看别人是怎么做的。

Let's look at the most successful technology executive in the business,

那么让我们看看成功科技公司老总

是怎么做演讲的。

and see how a presentation goes.

Bill Gates's PowerPoint presentation over here.

这是比尔盖茨的演讲。

Here's Gates doing a thing for Windows.

他在为Windows做一个演讲。

Is this how to do a PowerPoint presentation? What do you think?

这是你应该学的方式么？

你们怎么想？

不。那么我们应该学谁呢？

No. Who do you think we should look at as our role model?

Oh, isn't that funny! There's another great one over here.

好笑吧！再看一个很棒的。

是不？Steve Jobs.

OK, Steve Jobs.

You want absolute -- this is the Zen of presentation, right?

你想要最棒的--这就是演讲的极致，不是么？

Here he is, one little guy, black jeans and stuff,

看他，个不高，黑裤子，便装，

on a totally empty stage.

在一个空旷的舞台上。

What are you focusing on?

你会集中在那里？

You're focusing on him! This is Steve Jobs.

集中在他身上！这就是Steve Jobs。

So are these wonderful long bullet points, whole list of things good?

所以，你知道，我们钟爱的--

美妙的，长长的要点，列表，等等 -- 很好！

No, they're not. The long bullet points are bad.

不，他们并不好。

长长的要点很糟糕。

What's good? Short. Short bullet points.

什么好？短，简短的要点。

但是其实，

But you know what? Even better than short bullet points are no bullet points.

更好的是没有要点。

Just give me the headline.

给我标题就好了。

但是你知道吗？

And you know what?

Steve Jobs用多少的要点或者是标题？

How many bullet points does Steve Jobs use?

Basically, none.

基本没有。

What do you do?

那么你该怎么办？

Best of all, images. Just a simple image.

最棒的是办法是用图片。一个简单的图片。

I look at the image; a picture's worth a thousand words.

我看一眼图片--百闻不如一见。

You look at the image and you've got the whole thing.

你看一眼图片，看完后，清理思绪，

Then you come back to me; you're focused on me, why I'm such a great guy,

转回来注意到我。

你专注在我的身上，想为什么我是个很棒的人。

为什么你要给我投资。

why you want to invest, why this all makes sense.

和为什么这个投资项目很合理。

That said, we only have a very short time,

说了这么多，我们只剩下很短的时间了。

so let's run through the things to include in your presentation.

让我们来总结一下

你演讲中要包括的要点。

First of all, none of these big, long-titled slides

首先，你一开场时，投影片不要使用过长的标题，

with blah, blah, I'm presenting to so-and-so on X date.

也不要说一堆废话。

比如我给谁演讲，在哪一天等等，

I know the day, I know who I am -- I don't need all that.

我知道日期，我知道我是谁，我知道你在演讲。

我不需要这些。

Just give me your company logo.

我只需要你公司的标志就够了。

I look at the logo, and it ties it to my brain.

我看一眼标志，把它记在脑子里。

然后我就转向你，注意力集中在你身上，就这样。

Then I come back to you. I'm focused on you, OK?

You give me your quick, 15-second or 30-second intro, grab my attention.

你要用一个15秒到30秒的介绍

来抓住我的注意力。

Then you give me a quick business overview.

然后你就要简短地介绍公司概况。

This is not a five-minute pitch. This is, you know, two sentences.

用不了5分钟，只要两句话。

我们给X,Y,Z 市场做...部件。

"We build widgets for the X, Y, Z market."

或者，我们给需要做X事情的人提供服务。如此等等。

Or, "We sell services to help do X." You know, whatever.

And that is like the picture on the outside of a jigsaw puzzle box.

那就好像拼图游戏盒子上的整体图一样，

That lets me know the context.

让我就知道你公司的背景。

It gives me the armature for the whole thing you'll be going through;

也让我对你将要给我演讲的整个内容

有准备。

让我可以把之后的信息

it lets me put everything in relation to what you've told me.

和你已经告诉我的联系起来。

Then you've got to walk me through, show me who your management team is.

然后，你要向我介绍

你的管理团队是谁。

如果你有过经验和做过类似的事情，

这会给你们加分。

I want to know the size of the market. Why is this market worth getting at?

然后我想了解市场，市场的大小。

为什么市场的长期前景值得投资。

I want to know your product, that's very important.

我想了解你的产品，那非常重要。

Now, this is not a product pitch or sales pitch.

但是这不是一个产品推销演讲，

我也不想对你的产品

有从里到外的深入理解。

I don't want to know all the ins and outs, just what the heck is it?

我只想知道--它到底是什么？

If it's a website, show me a screenshot of your website.

如果是个网站，展示给我你的网站截图。

但是不要做现场演示。

Don't do a live demo. Never do a live demo.

永远不要做现场演示。

Do a canned demo, or something that lets me know

可以做录制好的演示，或者是其它的

why people are going to buy whatever it is.

只要让我了解到，人们为什么会去买它就好。

Now that I know what you're selling,

然后，我想知道，--在知道你在卖什么之后--

我想知道你怎么用它赚钱。

tell me how you make money on it.

For every X you sell, you get Y, or services of Z.

卖掉X个商品，你可以赚到Y,你要提供Z服务。

我要了解你的商业模型是什么

I want to know what the business model is on a per-unit basis,

在单件产品的层面上，或者在你销售的实际产品的

or for the actual product you're selling.

基础上。

I want to know who you're selling to in terms of customers

我想知道你把东西卖给谁，

你的客户群是谁。

我也想知道你有没有任何关系

and if you have any special relationships that will help you,

可以对你有特别的帮助。

比如你有没有分发渠道，

whether it's a distribution relationship or a producing partner.

或者是生产合作伙伴。或者是

Again, validation.

再说一次，要有验证。

这些告诉我，你不仅仅是一个小小的公司。

This helps to say you're bigger than just one little thing over here.

But everybody has competition.

同时，所有人都有竞争者。

There's never been a company with no competition,

从来没有任何公司

没有竞争者。

竞争者甚至也包括旧的做事方法。

even if the competition is the old way of doing something.

I want to know exactly what your competition is,

我想准确地知道你的竞争者是谁，

那会帮助我判断

and that will help me judge how you fit into the whole operation.

你的运作模式是不是与你的市场相符。

I want to know how you're special.

然后我想知道你的竞争优势是什么。

如果我知道了你的竞争者如何运作，

I know what your competition does --

你怎么能阻止你的竞争者

how are you going to prevent them from eating your lunch?

来分食你的午餐？

然后这一切都联系到财务纵览。

All this ties into the financial overview.

And you can't do a VC pitch without giving me your financials.

你必需要有--没有财务情况

你根本无法集资。

我想知道过去的三年--或者一两年前，

I want to know a year or two back, or as long as you've been in existence.

或者无论你存在了多久。

我也想知道三到五年之后。

And I want to know four or five years forward.

五年可能太多，四年比较合理。

Five is a bit much. Probably four.

And I want to know how that business model, on a product basis,

我想知道，你在产品层面的商业模型，

如何转化成一个公司模型。

will translate into a company model: How many widgets will you sell?

你能卖掉多少商品，

你能从每个商品挣到多少.

You make X amount per widget. I want to know what the driver is.

我想知道盈利驱动力是什么。

比如我们今年有1000个客户，

We'll have 1,000 customers this year and 10,000 the next,

明年有10000个。

our revenues will do this and that.

我们的收入会如何增长，等等。

这些让我了解到投资

That gives me the whole picture for the next several years

之后几年的蓝图。

我想知道我的钱

into which I'm investing.

And I want to know how the money from me will help you get there.

怎么能帮助你实现这些目标。

比如你要在中国开个工厂，

You're going to open an offshore plant in China,

比如你要把它们花费在市场和销售上，

you're going to spend it all on sales and marketing,

或者你要去塔希提岛，或者随便哪里。

you're going to go to Tahiti, whatever.

然后就到了开口要钱的时候了。

But then comes the ask, where you tell me how much you want.

就是你想从我这里融资多少。

比如说你要融500万--那么公司的估价是多少？

You're looking for 5 million -- at what valuation?

Two million? 100,000?

200万，十万？

到目前都有谁投资了？

What's the money in so far? Who invested?

I hope you invested -- if you can't invest in your own thing, why should I?

我希望你自己投了。

因为我是跟着你的。

如果你自己都不投，我怎么会投？

So I like to know if you have friends and family,

所以我希望知道你是否有朋友，家人，

或者天使投资，其它的投资人投过了。

or angel investors, or more VCs before.

你目前的资产结构是什么样的？

What's the capital structure up until this point?

Finally, having done all that, you've now told me the whole thing,

然后最后，你做完了这一切，

告诉了我所有的事情。

你就要回到总结。

so now you bring it back to that conclusion.

就好象火箭升天。

This is that rocket going up.

一切都是向上的，向上的，向上的，

Hopefully everything has been positive.

向上的。

And everything you say clicks, it all makes sense.

你说的一切都让我感到一拍即合，

一切都很合理。

And I'm thinking, "This is really great!"

我想，“这太棒了，太棒了。”

Then you take me back to just your logo on the screen.

然后你再从新展现给我你的标志。

仅仅你的商标。

And I look at the logo -- OK, good.

我看一眼商标，好，

Now I come back to you. Nothing else to look at, right?

我又转向你，没有其它可看的了，不是么？

这时你要适时地总结。

Now you've got to wrap it up to give me the final -- boom! --

你要给我最后的惊喜。

the final pitch that's going to send me into space.

就像把火箭送入太空一样。

Now, in the process of doing this,

在这个投资演讲过程中，

how do you remember the sequences and do it?

你怎么能记住这个顺序呢？

You've noticed I'm not looking at the screen, right?

你注意到了我没有看屏幕，对吗？

The screen is in front of me,

这个屋子的屏幕实际上在我背后，

so I couldn't even see if I wanted to.

我想看也看不到。

So how do I know what's going on?

那我怎么知道上面是什么？

Well, I have a laptop in front of me.

其实，我这里有台笔记本，

你看着我，你看着这里，

You're looking at me and at this.

What am I looking at?

你想我在看什么？

You think that I'm looking at that?

你想我看的是这个么？

不是，我看的是个

No, I'm looking, actually,

at a special version of PowerPoint over here,

幻灯片的特殊的版本，

which shows me the slides ahead and behind, my notes,

它让我能看到之前和之后的幻灯片，

还有我的笔记--所以我能看到是怎么回事。

so I can see what's going on.

PowerPoint has this built into every copy of it that's shipped.

PowerPoint都有这个功能，

出厂的时候就有。

If you use Apple's Keynote, it's got an even better version.

如果你用苹果电脑的Keynote，它的这个功能还要更好。

There's another program called Ovation you can get from Adobe

还有一个软件叫Ovation。

可以从Adobe买到。

that they bought last summer,

它可以帮助你计时。

which helps you run the timers and lets you figure out what's going on.

帮助你知道下面要讲什么。

So, here's my wrap-up to take you to the moon, right?

好，现在该让我总结，把你送到月球去，对吧？

I usually do a Top 10, but we don't have time,

我一般有10个要点，但是我们没有时间了。

so: David's Top Five Presentation Tips.

所以我只说5点，

第一，使用演讲模式，

Number five: always use presenter mode,

or Ovation, or presenter tools.

或者，Ovation，或者Presenter Tools--

It lets you know exactly where you're going,

它帮助你，使你清楚的知道你在做什么。

它帮助你调整自己的速度，给你提供时间，

helps you pace yourself, gives you a timer, the whole bit.

所以我们会在正点结束。

Number four: always use remote control.

第二，用遥控器。

Have you seen me touch the computer? No. Why not?

你看过我接触电脑么？

没有，为什么？

Because I'm using remote control. Always use remote control.

因为我在用遥控器。

永远要用遥控器。

第三，

Number three: the handouts you give are not your presentation.

讲义不是你的演讲。

如果你听从了我的意见，

If you follow my suggestions,

you'll have a very spare, Zen-like presentation,

你会有个很成功的演讲，有力的传递

which is great to convey who you are and get people emotionally involved,

你是谁，同时还会调动人的情感。

但是它和讲义不一样。

but not good as a handout.

你需要有个详细的讲义，

You want a handout that gives more information; it has to stand without you.

因为你不在的时候，人们可以看讲义来了解你的公司。

第三，

Number two: don't read your speech. Can you imagine?

不要阅读你的演讲。

想象一下？“投资我的公司吧，

(Reading) "You should invest in my company ... "

因为它很棒。”

这不能成功的，不是么？不要阅读你的演讲。

It doesn't work.

And the number one presentation tip: never, ever look at the screen.

最重要的演讲技巧：

永远也不要盯着屏幕。

You're making a connection with your audience,

因为你在和你的听众建立一种联系，

你要保持这种一对一的联系。

and you always want a one-on-one connection.

The screen should come up behind you

屏幕应该在你身后出现，

and supplement what you're doing, instead of replace you.

补充你，而不是替代你。

这就是怎么做集资演讲。

And that is how to pitch to a VC.