These series of guest posts are written by the teams attending the Tetuan Valley Startup School 2010 Fall edition. This post is from the control+ad team, formed by David Pedroche.
Every one tell you that you have to write an elevator pitch. When I think about it one image comes to my mind, I see my self talking with a woman and you saying “estudias o trabajas?”.
There is only one situation where you are going to be close to a business angels two minutes, and that is when both of us are peeing and this is NOT the right time to talk about business. We have to take us seriously if we want to look serious. Today it’s easy to get a 5 minutes presentation at an investor forum, there are enough forums where you can reach them.
We are not begging for tips, we want to share a business. They need us, in the same way we need them. The first impression we make on a business angel will define our relationship, if we don’t speak to him face to face no one will take us seriously. Our relationship with venture capital has to be win/win situation.
It’s so important to look confident and professional when we talk to a BA. They not only test our products and ideas, they will also test our negotiations skills. In the same way we negotiate with them, we will negotiate with our providers and customers.
Venture capital needs ideas and the hard work of the entrepreneur if they invest in a project. Entrepreneur that at some point don’t want to continue will make the VC loose his money.
We have to put one clear idea in our minds “money isn’t more important than projects”.
