Pitching to Angel Investors
Posted on | November 5, 2009 | No Comments
FOR entrepreneurs hoping to land start-up capital from angel investors, here’s what two recent studies found: Don’t get carried away when you pitch your product because the investors may lose interest faster than you can say “almost unlimited market.” And one misstep — like stammering a vague reply instead of saying you do not know the answer — can also kill a deal, the authors of the studies say.
Other tips include:
- Memorize an “elevator pitch” for your product and its potential in 90 seconds or less. It will bolster your confidence, and you can recycle it to win over customers, vendors and employees.
- Consider hiring a speech coach, but only one familiar with angel investors’ thinking.
- Attend “pitching contests” that many business schools and angel groups sponsor.
- In presentations, be upbeat but realistic in your profit and revenue projections. Better yet, draw up optimistic, middle-ground and pessimistic projections to show how carefully you have thought them through.
Check out the article, “In Pitching to Angel Investors – Preparation Tops Zeal” by Brent Bowers, New York Times, June 10, 2009.
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