That's all the time you need to get to yes. Really.
“No one wants to go out mid-sentence.” --Johnny Depp
And, as Johnny would surely agree, no one wants investors to nod off mid-sentence.
Investors have seen hundreds of pitches. They’ve been there, heard that. They decide in a couple minutes, max, whether you’re worth their valuable time, mind, and dime.
Are you requesting funding for your startup, new venture or product launch? Here’s how to have decision-makers at hello. First the example, then the technique.
One of my Springboard Enterprises clients (Springboard has helped entrepreneurs receive $6.2 billion in funding) approached me and said, “I’ve got good news and I’ve got bad news.”
I asked, “What’s the good news?”
“I’ve been asked to pitch a roomful of investors at the Paley Center in New York City”
“That is good news. What’s the bad news?
“I am going at 2:30 in the afternoon and I only have 10 minutes. How am I supposed to explain my invention, clinical trials, business model, team credentials and exit strategy in 10 minutes?"
I said, "Actually, you don't have 10 minutes. As you mentioned, you’re going at 2:30 in the afternoon. These investors will have already heard 16 presentations. You have 60 seconds to get their favorable attention.”
She said, “How is that possible?”
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Via Karen Dietz