Elevator Pitch: Closing Deals or Closing Doors
About Me
A Top-Notch Pitch is Crucial One private equity group in town sees ~3,000 potential deals a year and funds 4-6 ~12 deals per day Funds 0.2% One angel group in town sees ~600 potential deals a year and funds 12 ~2 deals per day Funds 2%
The Takeaway Investors have an abundance of deals to choose from, if your case isn’t crystal clear, they’ll likely pass on you Some say if you don’t have their attention within 30 seconds, they have already moved on
What this VC Wants to Hear About Market Team Product
Why? A survey of 135 startups raising > $1 million but ultimately failed shows the dominant reason was Building a product without a market (42%) Understanding your customer’s problems with extreme clarity and being unable to communicate it succinctly is key
Pitching Customers is no cake walk Advertisements seen per day 1970: ~500 2005: ~5,000 YouTube sees a dramatic drop-off in viewership if a video takes > 2 seconds to load Takeaway: Information overload and short attention spans
Who are you Pitching? Funders Clients/Customers Supporters Resource Providers Employees
What are you Sharing? Be Clear Show Passion Establish Yourself as an Expert Problem, solution
Where? Networking event Client opportunity Internal meeting Holiday party
Why? Solicit feedback Test the market Find help Promote
How? Introduction You Your idea Your background Content Problem Solution Differentiator Story Ask Stage What’s next Need Call to action
Tips Authenticity People can remember 3 things Make it modular Beware of jargon Have a clear ask Practice, practice, practice