How you pitch your company determines whether you get the right partners, favorable financing terms, super executives, and best shot at success
If you’re a South Park fan, you’ll remember the episode called the “Underpants Gnomes,” in which gnomes have built a business based on stealing underpants from the residents of South Park. When the kids finally catch them and ask why they are doing this, the gnomes say it’s all part of their business plan. “What’s your plan, exactly?” the kids ask. One of the gnomes fires up a PowerPoint presentation to outline their three-phase approach. Slide No. 1 says “Steal Underpants.” Slide No. 2 is blank. Slide No. 3 says “Profit!”
I cannot stress how many business pitches I’ve seen like this, where Phase One is “create widget,” Phase Three is “profit!” and the crucial Phase Two is a complete unknown. See the info on my pitch critique worksheet at the end of this column to make sure your pitch is complete.
Let’s say you have a capital acquisition strategy and an advisory board to boost your credibility. You need two...
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