That Will Never Work #66: How to Become a Pitch Pro
Sep 13, 2022
Faith Griffin, an innovative entrepreneur and university student, shares insights about her patent-pending product, The Shaving Step, a portable shower stool designed for convenient leg shaving. She discusses the gaps in the market her product addresses and the importance of proving demand before manufacturing. With expert guidance from Marc Randolph, they delve into the nuances of pitching to investors, showcasing key proof points early, and the significance of networking for retail validation. A treasure trove of actionable advice for aspiring entrepreneurs!
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Prove Demand Before Raising Big Rounds
- Do validate demand before raising significant money by proving customers will pay.
- Use small raises to answer one clear unknown at a time and reduce investor risk.
Each Raise Solves One Unknown
- Investors buy answers to a single unknown at each raise and price risk accordingly.
- Every funding step should target one clear uncertainty to de-risk the business incrementally.
Put Your Best Evidence First
- Lead with your strongest proof points because investors interrupt quickly.
- Get your best evidence of sales or commitments up front to capture attention.
