“It’s not enough to be the best at what you do; you must be perceived as the only one who does what you do.” – Jerry Garcia
Actually, when you’re trying to get interest from investors; it’s not enough to be perceived as one of a kind.
You must prove how you’re solving a problem that’s costing your target customers money – and you must prove how you’re going to make your investors money.
I am the Pitch Coach for Springboard Enterprises – which has helped entrepreneurs receive more than $5 billion in funding. Springboard grads include Robin Chase of ZipCar, Gail Goodman of Constant Contact and Joni Evans of WowOWow.com
When coaching people on their pitches, I see the same thing again and again.
People tell the story of their company. And they explain what their business does.
That will not convince a venture capitalist to invest in you.
What investors want to know is — HOW WILL YOU MAKE ME MONEY?
If you are asking for millions of dollars – prove to me you have a leadership team with big-brand experience, contacts and a tangible track record of making and managing millions of dollars.
If you are asking for millions of dollars – prove to me you have a first-of-its-kind, evolutionary, disruptive technology, product, service or patent-pending approach with a clear competitive advantage.
If you are asking for millions of dollars – prove to me with metrics and measurable evidence why your business will scale in the years ahead and my investment will pay off and grow.
And if you are asking for millions of dollars – don’t end your presentation by saying “Thank you for your attention.” Give me a clear, compelling incentive to contact you afterwards because you’re offering something intriguing and/or financially impressive that motivates me to want to know more.