Tag Archives: VC

Thinking Big, Starting Small

Dip and I recently read this post by Rob Day, who goes by the handle @cleantechvc on Twitter. We think that Rob really nailed it when it comes to the next phase of cleantech. Here are a few of his points that really resonate with us at ecovent.

Customer experience: Simpler. Easier. Better. This is our mantra. We’re always thinking about the customer experience. There’s technology out there that can fix every HVAC problem under the sun, but it isn’t easy. It’s like you need a dozen advanced degrees to just set the temperature you want and keep it consistent from room to room. It shouldn’t be that way. We wanted to design something so simple you install it yourself in a single afternoon.

Execution: You can make a product with all the features in the world, but it doesn’t matter if no one wants to buy it. And that comes down to execution. Nothing could be more critical. We’ve got beta testers knocking down our door to try out our system, and we want to make sure we deliver the very best possible product at the end of the day.

Start Small, Think Big: Couldn’t agree with this one more. We’re starting with an unloved, overlooked piece of home hardware that hasn’t changed in decades. The vent. But if we make one homeowner more comfortable, we’ve achieved our goal. When we’re thinking small, that’s our mission. But when you start to consider about the levels of energy savings, peace of mind, and fine-grained control we can offer, it’s easy to see the big picture.

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Bill Aulet’s Keys To A Better Pitch

In Spring 2013, team ecovent took Bill Aulet and Howard Anderson’s New Enterprises course at MIT Sloan. It’s a fast-paced class that offers a step-by-step guide to founding a company. Over the course of the semester, we were forced to condense our ideas into a 20 page business plan and were selected as one of 12 teams that would pitch before a panel of visiting judges at the culmination of the course.

Bill Aulet, Director of the Martin Trust Center for MIT Entrepreneurship

Before the final presentations, Aulet gave a lecture on how to make a winning pitch. He cited “Callas’ Law” as the key to success. Maria Callas was a famous opera singer who believed, “There are only two things that matter: how you enter the room and how you leave it.” Even though we had spent countless hours focusing on the content of our pitch, Bill emphasized the importance of intangibles. Judges, audiences and VCs will form their first opinions before you even open your mouth. Your confidence—and preparation—matter.

Here are a few more of Aulet’s tips for fellow entrepreneurs:

  • Know your audience – You have to understand who you are presenting to and present to them. The message can (and should) change by the audience.
  • Keep it short – Don’t try to cram too much into the time allotted. A pitch should lead to a meeting or another pitch. You need to sell your idea, not divulge every thought.
  • Start with a story – Use a narrative to explain your idea and the problem it solves. Not all VCs and “pitch masters” agree on this point, so see the first bullet point and tailor your pitch to your audience.
  • Focus on “the ask” – follow the adage “tell the audience what you are going to say, say it and tell them what you told them. Bill’s structure: start with a story, give a brief summary of your idea, tell the audience what you want them to take away from the pitch – the key ideas – and then tell them what you will ask of them at the end. This last part is crucial, and we have never done it in the past. This method is direct, targeted and frames the audience for what they are about to hear and what they will be asked to do in the next steps.

Armed with these insights, Dip and I reformatted our pitch and won an audience choice award for best pitch of the day. While it was nice to win the vote for best pitch, we were much more excited when one of the visiting judges asked us if he could buy our beta system.

Looks like Bill’s tips are working.

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