I come across many people who have been looking for funding
Most of them thought it was a good idea to go for it by themselves, with no coaching or awareness of how most funders like to be approached. I hear horror story after horror story of people doing the same things wrong.
Having sat in on 3 events this week where people were pitching for funding, I found myself switching off well before most pitches has ended…because they broke one or more of my golden rules.
So, for the benefit of brevity, here are a few that I saw this week that caused me to switch off:
- Talking too much/not respecting the time limit: Anyone thinking that their pitch is so fabulous that it deserves to have longer or simply not prepared is a major warning: If they are not prepared for what could be the most important pitch of their lives, what else are they not prepared for?
- Unnecessary distractions: Anyone bringing notes with them for their pitch has failed before they even open their mouths. I also had one attendee hold his mobile phone throughout the pitch. Why people do this is quite beyond my comprehension.
- Taking too long to answer questions in the Q&A section: If you need more than 30 seconds to answer any question about your business in this setting, it tells me that you don’t really know (regardless whether this is truly the case or not)
- Getting defensive after receiving feedback: Well, this one is so big that I filmed a short video on it…
So, if you are pitching for funding and haven’t ran your pitch by someone who knows this sector, I suggest that you do. If you are in or around London you are welcome to come along to one of my sessions and test it for yourself