Episode Summary
Paul Grossinger is an entrepreneur and angel investor and shares some key insights as to what makes a successful pitch. He truly believes practice makes perfect and tells the audience to always keep practicing no matter how many speeches you have given. He also tells future entrepreneurs not to push the investor too hard from the beginning. Investors need to build a relationship first before they will invest in you and your company.
Key Takeaways
- 01:30 - How did Paul go from journalism to being an investor?
- 05:24 - Paul pays attention to the team and why they're a right fit for that company.
- 10:20 - Paul likes to really get to know a company well before investing.
- 16:00 - You have to be confident in your delivery when you're pitching. Practice, practice, practice!
- 22:40 - What are some common pitching mistakes startups make?
- 27:20 - Paul doesn't always like to go by the book, but recommends a few of his favorites which are Drive by Dan Pink and Purpose Economy by Aaron Hurts.
Tweetables
The most successful entrepreneurs we see are ones that have a deep understanding of their market.
Carve your own path
You have to have confidence in your delivery. You have to practice your pitch delivery at least 50-100 times.
There is no exception to practicing.
Links Mentioned
The Lean Startup by Eric Ries
Drive by Daniel H. Pink
Purpose Economy by Aaron Hurst
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Episode Summary
Scott McGregor is a consultant for tech startups based in Silicon Valley. Scott shares an amazing story about Rick Giarrusso raising ten billion dollars to build a rocket and how entrepreneurs can mimic his strategy to get the funding they need for their own business. He also talks on being committed to your business 100% and why you shouldn't worry about your idea getting stolen.
Key Takeaways
- 02:40 - Scott's grandfather told him that he has a duty to make the world better.
- 06:40 - Scott shares an amazing story on how Rick Giarrusso of Rotary Rocket was able to raise ten billion dollars.
- 18:45 - KickStarter is an excellent way where you can reach potential customers.
- 25:30 - Until you make a lot of money, no one is interested in stealing your idea.
- 28:30 - Scott talks about why The Goal is a great book for entrepreneurs.
Tweetables
If you're trying to raise a billion dollars, that's too much for Silicon Valley VCs.
Go to your customers first and you get them to agree to pay you before you build it
You're the value, not the idea.
Links Mentioned
The Goal by Eliyahu Goldratt and Jeff Cox.
Selling the Wheel by Jeff Cox.
Scott McGregor
Swift Design Group Point Green
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Episode Summary
Ben Larson talks on the importance of answering all the questions in your pitch and why the customer should come first before the product
Key Takeaways
- 01:15 - People buy emotionally and then back it up with logic.
- 03:05 - The founder and CEO of Pandora received 300 "No's" from investors.
- 06:23 - Ben shares his favorite success story.
- 11:30 - Have you ever been pitch assaulted?
- 16:40 - In a pitch, have a question and then follow it up with an answer. Repeat this structure.
- 20:20 - It's about the person, not the idea.
- 25:40 - Don't sell the product, look at how your customer thinks instead.
- 28:15 - At Founder Institute, they focus on building a strong entrepreneur and not a strong idea.
Tweetables
“The confused mind always says no.”
“It's best to assume there are no unique ideas, only unique ways to approach those ideas.”
“Target your assumptions and prove those assumptions wrong or right.”
Links Mentioned
The Art of the Start 2.0 by Guy Kawasaki [book]
Essentialism by Greg McKeown [book]
Ben on Twitter: @blarson
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Episode Summary
Andrew Ackerman is the Managing Director for DreamIt Ventures. He was the COO of Bunk1.com and shares some insight on how he pitched people within 30 seconds or less. Andrew also talks about how Meerkat got started and what it takes to get the attention of a potential investor.
Key Takeaways
- 02:40 – Andrew talks about Bunk1.com
- 09:20 – Don't pitch everything, just pitch enough so your customer asks you more.
- 17:15 – The one skill that's critical for an entrepreneur is empathy. Put yourself in the investor's shoes.
- 18:35 – Andrew breaks down the different viral levels a company can fall under.
- 24:05 – Andrew talks about Meerkat.
- 27:10 – Help an investor understand what makes your company special right off the bat.
- 31:10 – Reach out to Andrew via email with a warm introduction and a clear subject line.
Tweetables
"Don't pitch everything, just enough to get them to lean forward."
"Meerkat is an overnight sensation two years in the making."
Links Mentioned
Mastering the VC Game by Jeff Bussgang [book]
Andrew Ackerman runs DreamIt's startup accelerator program in New York. Serial entrepreneur, former investment manager at a family office, and recovering management consultant. Follow at @AndrewAckerman and @DreamItVentures.
DreamIt is one of the top accelerators in the world, having helped launch 178 companies since 2008 including SeatGeek, Meerkat, LevelUp, Adaptly, Parsely, Elevate, Cloudmine, Biomeme, et. al., who have collectively gone on to raise $270M and who are worth over $810M.
DreamIt is currently accepting applications for the DreamIt Health Philly program starting in July. Application deadline May 1: http://dreamit.com/apply/
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TBD
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Episode Summary
Jim Beach has successfully pitched the White House and has a radio show that plays on 11 FM stations called School for Startups. He talks to John about his successes, how to pitch the right way, what rock stars in an elevator is about, and much more on today's episode.
Key Takeaways
- 02:30 - Jim shares a little bit about how he got started.
- 07:35 - Jim and Chris created 14 rock star pitches for their rock stars in an elevator concept.
- 11:10 - Check out Entrepreneur DNA and Bosidna.com to find out what kind of entrepreneur you are.
- 14:45 - Pitching at the White House
- 18:00 - Be very honest with your potential investors. Dump out your dirty laundry first.
- 25:00 - People remember stories, so always tell a story when it comes to promoting your business.
- 27:30 - It's very easy to hack Google Maps and it can hurt small business owners.
Tweetables
The keys to being successful is having an enticing opening to your pitch...
As an entrepreneur, you're going to get a rejection 9 out of 10 times.
It's more important to find someone who has a different entrepreneurial DNA...
Links Mentioned
Entrepreneurial DNA by Joe Abraham
bosiDNA Exposing Google Maps by Jim Beach
School for Startups Radio
Jim on Twitter: @EntrepreneurJim
JimBeach.com
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