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As a startup founder, pitching investors can be nerve-wracking. But now that fewer VC firms are meeting in person, the Zoom pitch is on the rise and presents another challenge for entrepreneurs to get their point across using only their screens.
Russ Wilcox is a partner at Pillar VC in Boston, Massachusetts. He knows his way around a pitch not only as an investor, but as founder of 20 years for venture-backed startups, including one that secured $124.9 million in capital, according to Crunchbase.
“I have given hundreds and hundreds of pitches,” he told Business Insider. “I’ve seen which ones worked and did not.”
Pillar VC focuses on seed-stage companies and has invested in 30 so far. Wilcox said a lot of myths and legends surround pitching, but founders must remember first and foremost that they are asking investors to make a financial decision.
“You can’t just talk about the product and the customer,” he said. “You have to show the investor why your company will make money.”
He gave his seven tips for pitching investors remotely over Zoom.
1. Convince investors that you’re a person worth backing
Since investors often listen to multiple pitches in a day, Wilcox said it’s important …read more
Source:: Businessinsider – Strategy