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Be Up Front with Investors

by | July 16, 2023 | Entrepreneurship

When pitching your product to investors, know that they are looking for founders they can trust. They will be on the alert for any inconsistencies in your story.

Owning up to a mistake or exposing the truth of a setback can work in your favor.

I was asked to review a pitch presentation for an entrepreneur we’ll call “Jenny.”

About 5 years ago, Jenny invented a handy kitchen appliance with several features that could fit into a small drawer. It sold quite well, but after about two years sales stopped, and now she was eager to revive it and put it back on the market.

Her pitch was humorous, energetic and full of conviction. Her product was innovative, her projections were solid and her demo was slick.

During the Q&A section, I was curious as to why sales stopped after three successful years and what made her pick it up again?  She fidgeted and fumbled along with an answer that didn’t make sense about a vendor issue, unreliable partners etc. It sounded fishy. When I pressed her for more details as an investor might, the room became very quiet…

Jenny broke down and confessed that when her product was starting to take off, she developed a spending addiction that ended a relationship with her business partner. When Jenny’s problem was discovered, her partner quit and seized the remaining assets. Sales came to an abrupt halt. The gap in time, she explained, was due to two plus years of rehabilitation. She blamed the addiction on growing up poor and wanting, at long last, to have nice things.

I suggested that this question will undoubtedly come up in her future pitches. Being up front about the gap in time could make her pitch more compelling, especially if she dwells more on what she learned about herself and how it will make her a more responsible founder.

Moral of the story: Don’t lie to investors or potential buyers. Don’t hide or make up facts. You’ll be found out sooner or later.

Build a story that is inspiriting and truthful. Contact me at Rebecca@MindfulCommunication.com

 

 

Your Sphere of Control

by | January 25, 2021 | Entrepreneurship

Are you angry, frustrated, or aghast at what’s happening in our country?

It doesn’t matter what side you’re on, politics has become an addiction. This weekend I heard from an accountant friend, Jake, a typically calm and happy fellow, who owns his own practice. He’s preparing for tax season, but deeply entrenched in the political scene. Focus and concentration was never an issue for Jake; but now, he feels he is losing control. Sleep deprived and irritable, Jake spoke in a frantic hush, “It ( the news) is just more insanity. I can’t believe what’s happening. It makes my blood boil! I need to stop.”  We concluded that an addiction to politics is just  as menacing as drugs, gaming and gambling,

As a caring citizen with concerns about our personal freedoms, I can relate to Jake. For the last year, I peered into the maelstrom of political junkie-hood, probed the legalities, and grasped for the facts. When the state of affairs began to keep me awake at night, it was time to take a step back. So, I looked to the Stoics.

According to Stoic philosophy, it is important to know what is inside your circle or sphere of control and what is not. That sphere of control is your MIND. You decide how to keep politics and anything else from hijacking your mind, your sphere of control.

This is an opportunity for us, the COREageous, in these trying times to reinforce our sphere of control and to reMIND ourselves that we have the willpower to make the choice to free ourselves from these intrusions and the ills it brings. Instead of reaching for your phone for the latest headlines, choose nature over news, music over mayhem, cooking over chaos. Explore and preserve your sphere of control and the healthy choices within.

Having troubles focusing and getting things done amidst the craziness? Get your control back with coaching. Contact me at Rebecca@MindfulCommunication.com