Pitch Club presentations, part of the Property Portal Watch Conferences and Global Online Marketplaces Summits, always attract interesting business models from around the globe, with past alumni having been Homsters, eLocations, The Motion and JobExpress, among many others.
Companies pitching their ideas are allotted up to 10 minutes to present to a panel of experts who offer realistic industry advice and encourage entrepreneurs to analyse their chances of success in the world of property portals and marketplaces.
Francis Kaden-Corbo, CEO and Co-Founder of JobExpress (Thailand) Co., Ltd. signed up for the opportunity to feature his company’s model at the Property Portal Watch Bangkok 2019 Conference.
We asked Kaden-Corbo to elaborate on his Pitch Club experience.
ONLINE MARKETPLACES: How did you find the process?
FRANCIS KADEN-CORBO: The "on-boarding" process was really good. Even if we jumped in last minute, we had enough time to put together the presentation and the expectation as far as material required was pretty clear.
The only "unclear" thing was the time. Some of my former colleagues told me that they stop at 6 mins. Even if we are told it's 6 mins, it was not clear if they would stop right away or not.
The setup itself is really nice but quite stressful which is part of the game. Comments from the judges were really good and useful but I expected them to challenge us more. It is really good feedback regarding the presentation and everything pertaining to it, but maybe not enough challenging questions about the business model and the such.
I know time is a challenge but I expected to defend more the valuation, model and etc... It was quite a friendly and nice judging panel. Maybe I watch too much Shark Tank where they are very tough on the people pitching their product.
OM: Were you able to secure any interest from investors? Was there any direct investment?
FKC: No, but we were a Job Board at a Property Portal conference so this was to be expected. Also, we decided to revise our Ask (200 K instead of 650K) so we did not insist on obtaining funding from investors we met after we lowered the amount.
However, we included all the judges’ comments in our revised deck which definitely helped us find the 200 K we are currently in the process of closing.
OM: Were there any key learnings that you made by participating that you would be prepared to share with others?
FKC: Yes! Practice, practice and practice the pitch. I took it really seriously and practiced at least 50 times before officially presenting. This really made a difference. I was comfortable and I knew what I needed to say, besides, being prepared releases any stress you may have beforehand, whilst ensuring you are within your allotted time.
People have to take it seriously. The key is to tweak and refine by practicing to make sure you are on top of your game.
Follow the "rules": I put in the deck everything that was asked of me, but I felt that some other participants, with really good businesses/decks, were missing some key aspects that were essential. Valuation is a good example: they all ask for an amount but say how much per cent, we were the only one.
Be transparent: We are all in the same boat, so don't be shy to reveal the facts and don't hide or oversell your company (too much). I felt some people were blurry about their KPIs / projections which is probably why they were missing key aspects. Anyone who is looking to invest will find out anyway that you have 0 revenue or challenges. Just be ready to explain why if it is needed and have a solution ready in your bag.
Don't put too much pressure on yourself and learn from the experience: Even if you don't get funding or win the Pitch Club session, it's good practice, an overall positive experience and it’s great marketing for your company should you win. Be ready for it, but it's not the end of the world if you don't win and/or get funding.
Francis Kaden-Corbo and JobExpress (Thailand) Co., Ltd. won the Pitch Club at the Property Portal Watch Bangkok 2019 Conference.
Some start-up companies need mentoring (insights on what to do, and even more importantly what no to do). Others need strategic long-term planning. Most need capital. Pitch Club is where all these things and more, come together.
Benefit from a room of C-Level market leaders and shakers listening to your concerns and providing real-time advice. You can´t put a Price on that.
Also in the room are global investors, VC companies, and other portals that may find synergy with you, your band or your idea.
Apply to present at the The Global Online Marketplaces Pitch Club HERE.