7 tips for pitching your entrepreneurial idea, whether to angels or sharks - forbes
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10/25/13 7 Tips For Pitching Your Entrepreneurial Idea, Whether To Angels Or Sharks - Forbes
www.forbes.com/sites/mattsymonds/2013/10/24/7-tips-for-pitching-your-entrepreneurial-idea-whether-to-angels-or-sharks/?ss=smbiz-strategies 1/5
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LEADER SHI P | 10/24/2013 @ 7:58AM | 766 views
7 Tips For Pitching YourEntrepreneurial Idea, WhetherTo Angels Or Sharks
Are you ready for the Shark Tank? Learn where to
look, and how to pitch, to secure funding for your
entrepreneurial idea. (Image credit: Getty Images
via @daylife)
Are you ready to present your
business idea to the wealthy
investors on the Shark Tank? Just
remember that the five successful
Sharks sitting across from you (or
Dragons in the UK, Lions in
Finland, or the original Tigers in
Japan) were once in your shoes,
and have all learned where to look,
and how to pitch, to secure funding
for their entrepreneurial ideas.
Baybars Altuntas is a shark, or
rather a dragon on the Turkish
version of the reality TV show. He is also a successful entrepreneur, and as an
Ambassador of the World Entrepreneurship Forum, a global think tank
dedicated to entrepreneurship, he has contributed a chapter to the book
Planet Entrepreneur, with advice on where to find potential investors, and
how to pitch to them.
Not that he has always got it right himself. As with
so many entrepreneurs, the learning curve can be
steep, and he has his fair share of inspiring and
funny stories. Back in the days before the Internet,
for example, he tried to put together a list of
franchise companies wanting to do business in
Turkey. Pre-Google GOOG -0.58% , remember, you
would have to turn to books for such information.
So he used a book he found in an old bookshop and
discovered later, when furious readers reacted, that
it had been written in 1922 and all the franchises
had long gone out of business!
But in the digital age, he reminds would-be
entrepreneurs that there are no borders any more.
So whether you find yourself in front of five sharks
and a TV audience of millions, or with five minutes
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10/25/13 7 Tips For Pitching Your Entrepreneurial Idea, Whether To Angels Or Sharks - Forbes
www.forbes.com/sites/mattsymonds/2013/10/24/7-tips-for-pitching-your-entrepreneurial-idea-whether-to-angels-or-sharks/?ss=smbiz-strategies 2/5
It doesnt matter if you are from
the Americas, Europe, Asia, or
Africa; the world is waiting for your
good ideas." Baybars Altunta,
entrepreneurial dragon and co-
author of Planet Entrepreneur
and an angel investor audience of one, a big part of
their decision is going to be based on the quality of
your presentation, and the people involved. Here is
the advice from an entrepreneurial dragon who has
listened to plenty of pitches.
1. Prepare yourself, not just your idea. Angel investorsinvest first in the entrepreneur not in the business plan.Its important that the investor and entrepreneur can getalong. They will want to see that you are fast, thoughtfuland efficient, and can sustain the project through itsconception and growth.
2. Capture the essentials. Angels care more about thepresentation than the business plan. Can you, in less thanfive minutes, explain the project, the return oninvestment and the growth strategy?
3. Have a plan from day one. Angels are very interested inyour exit strategy. Many investors tire after about sevenyears with a company and look around for newopportunities. So what is your exit strategy? Are yougoing to sell all your shares to a new entrepreneur? Gopublic with the company? Sell to venture capitalists?Franchise?
4. Do your investor research. You should find out as muchas you can about your angel investor. Who has he or sheinvested in before? Have they been successful? How welldo they know your industry? How much time can theydevote to you and your idea?
5. Take care of due diligence upfront. It takes mostinvestors 3 months to do due diligence on your idea. Make sure that it is not awaste of their time.
6. Negotiate a term sheet offer. Lack of experience can make this a very painfulpart of the whole project. You can go to the websites of the Angel CapitalAssociation (ACA) or European Business Angels Network (EBAN) to learn more onthis step.
7. Learn the vocabularyits all there on the Internet.
Altunas suggests preparing four different
presentations for the potential investor:
Business plan of no more then 50 pages
Business plan condensed into PowerPointpresentation of no more than 20 slides
This Powerpoint should be condensed downto a 2-page brief
A 5 minute elevator pitch
In Planet Entrepreneur, he then gives a list of
8 things that will turn OFF your investor, and
points out that only 25% or propositions make
it past the first phase. But on a hopeful note,
he concludes by saying It doesnt matter if you
are from the Americas, Europe, Asia, or Africa;
the world is waiting for your good ideas.
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10/25/13 7 Tips For Pitching Your Entrepreneurial Idea, Whether To Angels Or Sharks - Forbes
www.forbes.com/sites/mattsymonds/2013/10/24/7-tips-for-pitching-your-entrepreneurial-idea-whether-to-angels-or-sharks/?ss=smbiz-strategies 3/5
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10/25/13 7 Tips For Pitching Your Entrepreneurial Idea, Whether To Angels Or Sharks - Forbes
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10/25/13 7 Tips For Pitching Your Entrepreneurial Idea, Whether To Angels Or Sharks - Forbes
www.forbes.com/sites/mattsymonds/2013/10/24/7-tips-for-pitching-your-entrepreneurial-idea-whether-to-angels-or-sharks/?ss=smbiz-strategies 5/5
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