You're navigating an IPO roadshow. How do you convey the value proposition to interested investors?

They don’t call it a roadshow for no reason. Crafting the story is of utmost importance. Making sure the right story is conveyed to the right investor audience is part of the art and science required by any good investment banking firm in order to create a buzz and interest amongst investors. At my firm, we don’t take on mandates that we don’t first understand the story and the value proposition thoroughly and secondly, we have to believe in the story as much as our client’s do. Good companies and smart investors can sense authenticity. If you’re not authentic pitching the proposition, then you definitely won’t be successful for your client or your investment bank.

Die Kunst einer erfolgreichen IPO-Roadshow besteht darin, nicht nur Zahlen, sondern auch Visionen greifbar zu machen. Dabei sollte auch auf Geschichten von frühen Kunden zurückgegriffen werden, die die nachhaltige Ver?nderung durch die L?sung veranschaulichen. Dies schafft emotionale Bindung und Vertrauen.

Seja em um IPO (oferta pública inicial) ou em um Follow On (oferta subsequente de a??es), é muito importante contar a história da empresa, conhecida no mercado como o "Equity Story". Deve-se fazer a apresenta??o de modo objetivo, com poucos slide contendo as mensagens chave para que os potenciais investidores entendam a empresa, qual é a sua proposta de valor, qual o potencial de crescimento, bem como quais os principais riscos. O objetivo deve ser capturar o interesse do investidor para que ele queira se aprofundar no case da empresa e eventualmente tomar uma decis?o de investimento.

Crafting Story Your company's story is the backbone of your presentation. It's essential to weave a narrative that connects emotionally with investors while being grounded in data. Start with the origins—how your company came to be and what problems it solves. Then, illustrate the journey of growth and the strategic decisions that have led to where you are today. Remember to focus on the future; investors are buying into where you're going, not just where you've been. Highlight upcoming opportunities and how you plan to capitalize on them.

When presenting an IPO, it's crucial to first highlight the company's strong financials, like consistent revenue growth and healthy profit margins. Clear, honest communication about potential risks and how you plan to handle them is key to building trust with investors. After establishing financial credibility, share the broader vision, showing how your company plans to grow and innovate in the future. This balanced approach not only reassures investors about the numbers but also excites them about the long-term potential of the business. Confidence in your financials and transparency in your strategy will win their trust.

Investidores institucionais precisam tomar suas decis?es com base em números e n?o apenas na estratégia ou em aspectos qualitativos. Assim, apresente de forma clara uma evolu??o histórica dos principais indicadores da empresa, tais como receita, EBITDA, lucro líquido, margens, gera??o de caixa, endividamento, etc. Os investidores ir?o fazer seus próprios modelos de proje??o para poder tomar a decis?o de investir ou n?o na sua empresa. Por isso, é muito importante explicar como a receita é formada, se o mercado é regulado, quais s?o as principais despesas, investimentos necessários, entre outros itens, para que eles possam alimentar suas planilhas de valuation.

Financials First Investors' primary concern will often be the numbers. Before delving into qualitative aspects, ensure you present a clear picture of your financial health. This includes historical revenue, profit margins, cash flow, and any other key performance indicators that showcase your company's stability and profitability. Be transparent about risks and how you mitigate them, as this builds trust. Investors need to feel confident in your financial acumen before they'll be convinced of your broader vision.

Falar sobre potencial de crescimento e proje??es futuras é sempre um enorme desafio. Tenha cuidado para n?o "dourar a pílula" e exagerar no otimismo. Fale sobre as oportunidades de mercado, os diferenciais competitivos que você acredita que a sua empresa possui, como você pretende crescer o negócio, quais as principais alavancas, etc. Esteja preparado para responder perguntas sobre o que pode dar errado com o seu plano, seja pelo aumento de concorrência, mudan?as no rumo da economia, aspectos regulatórios, entre outros.

Growth Potential The growth potential section is where you can really shine. Here, you'll outline your market opportunity, detail your competitive advantages, and explain how you intend to scale. It's crucial to back up your growth plans with realistic projections and strategies that show you're not just dreaming big, but you have a clear path to achieving those dreams. Investors want to see that you understand your industry and have a plan to conquer it.

Competitive Edge Explaining what sets your company apart from competitors is vital. This could be proprietary technology, market share, strategic partnerships, or an exceptional leadership team. Whatever your edge is, make sure it's clear how it contributes to your long-term success and defensibility in the marketplace. Investors are looking for reasons to believe that your company will not only survive but thrive in the face of competition.

Team Experience Your management team's experience can be just as important as the numbers. Investors are placing their trust not just in a business model, but in the people driving it. Highlight key team members' backgrounds, successes, and relevant expertise. Show how their history positions them to lead your company to success. A strong team can be a deciding factor for investors who are on the fence

Investidores sabem que os líderes s?o cruciais para o bom desempenho da empresa. Apresente quem s?o os principais executivos, destacando suas experiências anteriores, principais competências e áreas de expertise. Explique como é a Governan?a Corporativa da empresa: quais os principais órg?os, quem s?o as pessoas chave, fale sobre aspectos relacionados a alinhamento de metas e remunera??o variável.

Q&A Preparedness Finally, be prepared for the question and answer session. This is your opportunity to address concerns and clarify details that may not have been fully covered in your presentation. Anticipate tough questions and have well-thought-out answers ready. Your ability to respond confidently and competently can often be what tips the scales in your favor. Remember, this is not just about providing information; it's about building relationships with the people who will champion your stock when it goes public.