Do you have the next multi-million dollar start-up idea? Well don’t just talk about how great your idea is show it! You can talk about your company, product or idea until you’re blue in the face but without something to show for it no one with any money to invest in any of those three things will care.
Demonstrate your site in action. Show potential investors some analytics data. Have the graph up and easy to understand, don’t waste time explaining something that should be readily apparent to who ever looks at it. If you’re pitching widgets, be prepared to show your widget at work doing what it does best. Be prepared to list your competitors and demonstrate why they won’t be a threat. Don’t use an outdated business model with web start-ups, in other words don’t sell something people can go out and get for free. For example if you’re pitching a social network or even something that remotely sounds like one don’t try to set up a business model that requires subscription fees or any kind of buy in. It’s almost offensive to a buyer to see that when they know full well there’s an equivalent free option and even worse so if you convinced them to pay and the customer finds the free option out there after the fact.
Know your audience intimately; they’re the corner-stone of your business model. In the video below Alexis, from Erepublic was told his product, “Seemed niche.” He was ready with figures stating the opposite and that online gaming has a user base of around 250 million players worldwide. It is important to note however that while Erepublic does an outstanding job for the panel, Alexis is somewhat of a ringer as he already had one of the panel members as an investor and had already raised $1 million dollars in investments.
Once you watch the video you can immediately tell which presenters have great ideas and excellent pitches from the ones who don’t. It’s not some sixth sense, you’re not gifted, anyone can see that information is power and hype is hot air.
Since WordPress doesn’t seem to like Viddler, you can watch the aforementioned video here.