Hit the Target

Elevator Speech Part 4: Delivery

by Tim Berry

In the real world, you know your so-called elevator speech and you use it when appropriate. Every time you do it, you and it get better. I'd recommend taking time out and working on it, but you probably won't; you're... Read More »

Elevator Speech What You Offer

Elevator Speech Part 3: What You Offer

by Tim Berry

Now explain what that person you're selling to gets. Or the organization. You've personalized the need or want, identified your unique qualities to solve the problem, and now you have to put the need or want in concrete terms that... Read More »

Elevator Speech

Elevator Speech Part 2: Why You?

by Tim Berry

In the next part of your elevator speech address 'why you'? Why your business? What's special about you that makes your offering or solution interesting to the target person or organization you just identified. That was my previous post. This... Read More »

Microphone

Elevator Speech Part 1: The Market Story

by Tim Berry

If you can't say it in 60 seconds, you have a problem. Your strategy isn't clear enough. Nowadays we call it "the elevator speech," meaning a quick description of the business that you could do in the time you share... Read More »

Chart_shutterstock_42227020_by_ArchMan (2)

Which Comes First: Plan or Pitch?

by Tim Berry

It’s not exactly the same as the chicken or the egg, but it has some similarities. I get this question a lot lately, so I decided to take it here to my blog. Don’t pitch a business without planning it first. That’s a lot like trying to film a movie without having a screenplay. You have... Read More »

businessplan_hands_shutterstock_23965849_by_Dmitriy_Shironosov

10 Good Reasons Not to Seek Investors For Your Startup

by Tim Berry

Sure, maybe you need the money. Maybe that’s what your business plan says. But seriously: Do you really want to have investors involved in your dream startup? I’ve said it before: bootstrapping is underrated. I get frequent emails from people asking how they can get investment for their new startup, and I’ve admitted to being... Read More »

projected profits too high

Your Profits Are Way Too High!

by Tim Berry

The most common mistake in startup business plans is having the profits way too high. There’s no sense whatsoever to priding oneself in projected profits, as in profits you predict your business will have in the future. That’s like having replicas of future Olympic gold medals made and putting them into a trophy case. And... Read More »

valuation terms

Looking for Investment? Understand Startup Valuation

by Tim Berry

How much equity do I have to give to angel investors? If you’re a startup founder looking for angel investment, you need to understand valuation. It’s a buzzword that people use in other contexts, too, which adds to the confusion. But it’s ultimately what determines how much of your company your investors will get, and... Read More »

Investment Sweet Spot

Angel Investment vs. Bootstrap: Startup Sweet Spot

by Tim Berry

Successful angel investment is a win-win for both sides, the startup founders and the investors. And I mean win-win right at the beginning, at the time of the investment, not the obvious win-win later when years have gone by and the business succeeds and investors exit. The win-win sweet spot exists from the beginning, when... Read More »

MootCorp2010

Important Pitch Lesson: the Best Business Plans Change

by Tim Berry

My favorite moment in a recent business plan contest: The entrepreneurs put up a projected income slide. One of the judges commented that what was on the slide was different from what he saw in the business plan. The entrepreneur immediately answered “no, of course not, that was an earlier iteration.” Business Plans Change. They... Read More »