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Have a Great Business Idea? Here's the Best Way to Get Some Serious Dough for It
The angel financiers from Oxygen's Quit Your Day Job offer up pro tips on creating a winning pitch.
Looking to get your brilliant business idea off the ground? Well, first you need to perfect the pitch to use a some lucky investor — because how else are you going to lock down all that dough to kickstart your venture? No worries if you don't know where to begin, because we called upon the angel financiers from Oxygen's new series Quit Your Day Job to share their thoughts on what makes the perfect pitch. So break out your notepad, because you've got an idea to sell.
"The perfect pitch is one that incorporates some data. I don't want to hear someone to come in and say I'm going to work really hard, or I really want this. That makes me want to give them stickers, but not money," tech mogul Randi Zuckerberg told The Daily Dish. "So I want someone to show me some data about why it's a great opportunity." But it's not just about the numbers — it's also about you.
"And I want them to sell me on them as an entrepreneur because I've also been in pitches where someone sold me on the opportunity so much that I was like, 'Yes I want to go out and fund someone else doing this opportunity.' You sold me on it, but you didn't sell me on you," Randi continued. "Sell me on the opportunity with data and then sell me on you."
Her fellow Quit Your Day Job investor, consumer products tycoon Ido Leffler, shared additional tips on how to impress the folks with the money to help make your dreams come true. "I'm a big fan of punctuality," he said. "I don't like it when people are late and they blame the New York traffic or the L.A. traffic. Figure out the traffic." Once you have the traffic sitch in your hometown worked out, here's a few other things to keep in mind.
"Know your pitch," Ido added. "Be ready for questions and accept those questions as though they're good questions. And, know your numbers. In the end of the day, you live and day by your numbers. And make sure that your pitch doesn't go [long]. I like a 15 minute pitch and leave plenty of time for questions. If you can't sell your idea in 15 minutes, then there's a problem."
Get more business advice and insights when Quit Your Day Job premieres Wednesday, March 30 at 10/9c on Oxygen, with a special airing on Bravo that same night and time.
Learn more about the investors, below.