It is pretty late and the day started bright and early at 730 with Insanity training with Diego. We are sitting in our second pitch and mentoring workshop of the day. I am scheduled to pitch soon. I must admit I am somewhat on edge as the pitch has changed enormously. Overnight we did a business model pivot. The story has changed…a lot… whilst the underlying platform is still the same. This is causing a bit of unease in my brain. Old and new ideas are fighting for dominance. The story needs to be clear and articulated with confidence. I need to present as if we have been doing this for years…I cannot show that ideas are still forming in my brain. The pitch depends on it.
The mentors with us now are Humberto Matsuda partner at Perfoma Investimentos, a Venture Capital firm from Sao Paolo, and best selling author and serial entrepreneur Cristian Barbosa. Humberto is a cool guy. I met him in October at Geek Fantasy Camp where he was a mentor. We have been in touch ever since then. His knowledge of the Brazilian startup scene is amazing and I think one day when Fundacity goes to Brazil he will play a pivotal role.
Humberto shared with us many insights about the VC world including the 7 risks that they look to understanding in any business namely:
Market, people, product, financial projection, regulations, intellectual property, competition.
1 hour later. Pitch delivered. in the middle I had a moment of freezing and funnily everyone thought I was just creating suspense. In reality I lost track of my thoughts….nervousness was taking over. fuk…Luckily I remembered to not take myself and the situation too seriously so I just started smiling and thought to myself how ridiculous the situation was. After all I know my story and I know my business like no one in the room. Soon enough I regained thoughts and resumed the pitch. Feedback was good. Day wrapped up at around 2130. Marcelo and Hiroshi took Diego and I aside and told us they were impressed by the pivot that happened over 20 hours, the quick change to the slides and said they now believe that we have identified our business model. Connecting LatAm talent to the world is a valid value proposition. Fundacity is a business with a future. Diego and I feel euphoric. The hard work and endless discussions about Fundacity and what it is are bearing fruit. We are ready for day 4.