\u201cOne of the ways you convey operational excellency is in the quality of the plan.\u201d<\/em><\/p>\nMarc Andreessen<\/em><\/strong><\/cite><\/blockquote>\n\n\n\n So how can you ensure that things go off with a bang, rather than a fizzle? There\u2019s an art to simmering away the excess fat and condensing the good stuff into a lovely roadmap ragu, which is exactly what we\u2019re going to cover here.<\/p>\n\n\n\n Let\u2019s think about what you\u2019re trying to achieve here. In this piece, we\u2019re talking all about building a product roadmap that will wow investors of all shapes and sizes. It\u2019s a hugely necessary thing to get right, but it\u2019s a scenario that presumes you already have investors sniffing around \u2013 or that the tiger is already coming to tea. “The stock market is filled with individuals who know the price of everything, but the value of nothing.”<\/em><\/p>\nPhillip Fisher<\/em><\/strong><\/cite><\/blockquote>\n\n\n\n A key part of developing any product is establishing its value proposition<\/a>. And that\u2019s lucky because value<\/em> is such an important word when it comes to seeking investment. Investors think in terms of price, but \u2013 behind that \u2013 they\u2019re really only ever looking to be convinced of apparent and potential value. So being able to articulate your product\u2019s strengths succinctly on every slide is the secret to success. Answers. Investors are always looking for answers. Can your roadmap clearly visualize or succinctly explain why the features and updates you have slated for the immediate future are ahead of any others? If not, you\u2019ll need to be able to explain your thinking. <\/p>\n\n\n\n It\u2019s always worth categorizing roadmap items into objectives. This clearly shows how your future initiatives are split across things like security, market growth, customer requests, etc. At a glance, that helps show investors where the opportunity for expansion lies, alongside things you know need fine-tuning.<\/p>\n\n\n\n If your roadmap doesn\u2019t make it crystal clear within a couple of seconds which things are your next priority, you\u2019ve got a problem. Any potential investor needs to be able to discern what\u2019s coming down the line, and in what order, in an instant.<\/p>\n\n\n\n This is a multi-faceted question that\u2019ll require an answer from a few different people, but from a product roadmap point of view, you need to be able to show that features are there for a reason and that each new update has a business benefit. Every product decision has a monetary value tied to it, so you\u2019ll need to show the long-term effects of each from an ROI point of view.<\/p>\n\n\n\n Did you know that Teslas have a function to play a selection of fart sounds at random? Oh, Elon<\/em>. If you\u2019re in an investor pitch, there\u2019s probably not going to be an incredibly tight focus on the specific nuts and bolts of your roadmap. That means you don\u2019t need to go overboard with the methodology behind each planned change, who\u2019s going to be working on it, or the process. Again, it\u2019s more about the business case than the challenge involved. Ok, so how do you actually tick all those boxes? You\u2019re reading this on ProdPad.com, so it should come as no surprise that our preferred way to format a roadmap is with, well, ProdPad. As mentioned, at the core of that is a Now-Next-Later<\/a> roadmap layout, which we believe is especially great for investor presentations. Try and have all your ducks in a row before meeting with your investors. Know your numbers, know your value, and have a solid response ready for any possible questions. It\u2019s best to do this as a team so that your narrative is aligned across the board. A big pitfall is people winging things a bit too much, going off-script, and digging a hole that everyone can peer into. If you say something that someone else on your team finds surprising, it\u2019ll be apparent to everyone.<\/p>\n\n\n\n Don\u2019t sugarcoat anything; people will see through lies and investors appreciate honesty. So be open about the ups and downs of your business where it’s relevant, and don\u2019t be afraid to admit that you don\u2019t know something. If you\u2019re the product manager, there might be a surprisingly technical wildcard question that catches you off guard. In that case, don\u2019t babble. Just say you\u2019re not sure<\/em>, but that one of the team will be able to follow up immediately after the meeting with an answer. <\/p>\n\n\n\n As much as there definitely is a degree of cutthroat skullduggery in the finance world, VCs invest in people and teams, rather than ones and zeroes. So don\u2019t be afraid to let your personality poke out from underneath the professional sheen. Show your passion, let investors see the real you, and talk about all the talented people you love working with. You\u2019re the one who\u2019ll be actioning the things on this roadmap, after all, so think of yourself as being as much a sellable product as the product itself.<\/p>\n\n\n\n Is your meeting happening over Zoom? Put some shoes on. Trust us: it\u2019ll make you feel more in the zone and alert. Pants, on the other hand, are always optional.<\/p>\n\n\n\n Building a product roadmap for investors is obviously just one part of a larger presentation, and the aim of that deck should be to have answered every possible question and left everyone in the room clear on the future of your product.In this article we\u2019ll cover:<\/h2>\n\n\n\n
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The aims of a product roadmap for investors<\/h2>\n\n\n\n
Everyone knows that if sharks stop swimming, they die. It\u2019s a popular analogy for Gordon Gecko pinstripe business types because companies and products are exactly the same. Staying stable might be fine if you\u2019re a privately-owned business, but the second you get investors involved, flat is dead and relentless growth is a healthy heartbeat.
So when you sit down with VCs and you get to the roadmap<\/a> part of the picture, what you\u2019re really trying to show is that you have an understanding of scale. That the future will look better than today, and that the vision is about more than just servicing those customers you\u2019ve already won over.
There are lots of different types of investors out there, from individuals to megacorp venture capitalists, but they\u2019re all looking for the same thing: as close to a guarantee as possible that their funds will come back in higher stacks than the ones they seed to you.
Ultimately, when you think about what it is you need to achieve, it\u2019s a roadmap that screams evolution and potential \u2013 and in a way that\u2019s hard to mistake. No pressure, then.<\/p>\n\n\n\nWhere to get funding advice?<\/h3>\n\n\n\n
If you need some more general advice on how to attract VC funding, though, there are tons of resources out there that are worth soaking up. Here are just a few of them:<\/p>\n\n\n\nBooks:<\/h4>\n\n\n\n
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YouTube:<\/h4>\n\n\n\n
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Designing a product roadmap for investors<\/h2>\n\n\n\n
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That applies to the product roadmap just as much as anywhere. We\u2019ve already mentioned that, in this scenario, the roadmap is a giant metaphor for growth and vision, so let\u2019s unpack that and discuss exactly what they want to see on your roadmap.<\/p>\n\n\n\nWhat are investors looking for? <\/h2>\n\n\n\n
As a product manager, your roadmap is a snapshot of what\u2019s inside your mind, right? It\u2019s a window into all the things you want to address, and the features you\u2019d love to add.
With that will come questions, so it\u2019s worth thinking about how your roadmap can present answers to a few of those inevitable queries for you:<\/p>\n\n\n\n1. Why have you prioritized certain areas over others?<\/h3>\n\n\n\n
2. Which objectives do you expect these initiatives to help meet?<\/h3>\n\n\n\n
3. What problems need to be urgently solved?<\/h3>\n\n\n\n
4. What will the return on investment look like?<\/h3>\n\n\n\n
What are investors’ main priorities and concerns? <\/h2>\n\n\n\n
Over here in the real world, VCs and other investors are unlikely to be wowed by anything on your roadmap that\u2019s there because you think it\u2019s cool or, you know, meme-worthy. In other words: think with a business hat on.
Investors want to see that any planned rollouts and patches will more than justify their cost in terms of design, development, testing, and marketing. That might mean that you need to adjust your product roadmap for investors by slightly frontloading things that speak for themselves from an ROI standpoint. <\/p>\n\n\n\nWhat investors don’t care about<\/h2>\n\n\n\n
At ProdPad we\u2019re big advocates of the Now-Next-Later<\/a> roadmap layout so, naturally, we\u2019re inclined to say that investors and VCs aren\u2019t going to care about exact timeframes. If you like, you could change those three headings to quarters in the financial year, but your roadmap in this kind of presentation is an indication of things to come and not an internal processes document.
Bear in mind also that roadmaps change. Things shuffle around. So stating exact timeframes can become a rod for your own back if plans change later down the line and you\u2019ve made promises to investors. The most important thing is to show strategic thinking, not a mastery of team capacity. <\/p>\n\n\n\nAdvice for nailing your product roadmap for investors’ presentation<\/h2>\n\n\n\n
Simplicity and succinctness are vital, but there\u2019s an art to presentation that many people find hard to master. So let\u2019s go over a few key things to focus on, beginning with the big one: formatting a product roadmap for investors.<\/p>\n\n\n![\"presenting](\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2022\/12\/Portfolio-canvas-upsell-1-1-1024x667.png\")
<\/figure>\n<\/div>\n\n\nPresent a product roadmap designed for investors <\/h3>\n\n\n\n
As I’ve said before, \u201cyou\u2019re trying to show your strategy in a clear and concise way that shows what work is coming up in a way that isn\u2019t too granular. Why is that simplicity necessary? Because you need to make sure that the conversation doesn\u2019t get too focused\u2026 The detail will derail your ability to present your strategy.\u201d
And in fact, one of the great things about ProdPad is that you can use it to create variations of your roadmap that fit any audience type, with varying degrees of business-sensitive transparency based on permissions. So why not make a version that\u2019s investor-specific?
Returning to my post on a roadmap one-pager<\/a>, \u201cAn audience of external investors will want the story and strategy of how you\u2019re changing the product for customers and the likely impact on the market.\u201d
But you don\u2019t have to use ProdPad, of course; you may well want to translate your roadmap into a deck slide. If you\u2019re doing that, our best advice is to keep things clean. Stay away from timelines and Gantt charts; they\u2019re too nitty-gritty and can be confusing. Instead, stick to a single slide of aims and deliverables coming now-next-later \u2013 with a clear rationale for each of them.
If you have two minutes, we\u2019ve actually got a great mini guide<\/a> on how best to format this one-pager.
Or you can grab this product roadmap presentation template<\/a>, which will do some of the heavy lifting for you. Oh, and you can take a look at our own product roadmap here<\/a>. <\/p>\n\n\n\nBe prepared<\/h3>\n\n\n\n
Be transparent <\/h3>\n\n\n\n
Be a human being <\/h3>\n\n\n\n
Wear shoes<\/h3>\n\n\n\n
(Don\u2019t) leave them wanting more <\/h2>\n\n\n\n
In a practical sense, that means ending on a clear set of takeaways. Perhaps you have a few next steps for both your team and the investors? Perhaps it means some physical leave-behind collateral that reminds them of everything they\u2019ve just seen. Or perhaps it\u2019s the promise of a follow-up call.
Either way, do your best to ensure that your potential golden goose leaves armed with everything they need to make a decision.
And remember: <\/strong>you can\u2019t spell confidence without \u2018con\u2019. Con yourself into feeling confident, and it\u2019ll rub off on everyone in the room. Because, really, the world’s just people going around, walking into rooms, and saying things<\/em><\/a>.<\/p>\n\n\n
![\"Measure](\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/04\/Product-KPIs-banner_Blogs-1280x300-1-1024x240.png\")
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