What Our Users Are Saying About PITCH Investors Live
“Are you an entrepreneur? Do you have a startup? Are you an investor?”, are some frequent questions we ask at PITCH Investors Live.
“Download the app and create your pitch summary”, Community Architect Damien Coughlan instructs many of the one hundred entrepreneurs on the platform. “Our Social Media Manager Dyani Main will schedule a time for you to pitch Kevin Harrington,” he tells clothier and founder of custom suit company Big Murphy’s, Nathan Minnehan. “I’m online if you have any questions.”
Meanwhile Main sends a direct message to Minnehan, instructing him to get his credits (credits are needed to make a pitch, and are bought via PITCH tokens on the app). “Once you have your credits you can post your bio and do a test call.”
Handling many inquiries at once, Coughlan has a process. “Just put up the summary now, in two or three sentences. No more…otherwise investors wont read it.”
He gives Minnehan an example of how a summary should read: “My name is XYZ, I own XYZ, the leader in men’s tailored suits. I am looking for $XYZ in return for XYZ%. I believe I am different than the other suit companies because XYZ.” The summary is different from the bio, and tells investors what the entrepreneur would like to mention during the pitch.
Minnehan then sends a bio, first as a screenshot and then as a jpeg file. “The pdf was very large”, he says and asks Coughlan if he should make the pdf size smaller and resend it.
“Got it”, responds Coughlan who proceeds to schedule the calendar date.
Minutes later as Minnehan prepares his key points and Coughlan schedules a test run. “All good and we are ready to go!
Moments like these are not out of the ordinary for Coughlan who spent seven years at Apple as an analyst delivering direct reports to Steve Jobs and Tim Cook. “We launched many apps, and I learned it’s about the team work and delivering excellent customer service.”
Minnehan was able to speak with Harrington on the same day. “Pitching on the PITCH app feels like skydiving for the first time”, he said, excited for the opportunity. “There is nothing that prepares you for a Facetime chat that can literally change the fate of your business in thirty minutes or less. I felt nervous and unprepared as if I was still missing important details for my pitch. After getting off of the call I realized, this is how everyone feels.”
Much of the interaction between the PITCH Investors Live team and both the entrepreneurs and investors have been on-one-one. From coordinating bios, to scheduling pitch times, the team has been hard at work in the beta testing phase where a hundred people have tested the app. “It is a lot of work, but like with Facebook or Snapchat, success didn’t happen overnight“, said Coughlan, adding that the case of technical glitches happen but are rare.
“This is only the beginning and everything eventually will be automated,” said Co-founder Jonathan Foltz.
Janos Lenciu is an entrepreneur from Austria, with several startups under his belt including a digital marketing agency. He created over one hundred pitches in his lifetime, and spoke in front of audiences from ten participants to a thousand. He learned to keep his pitch short, under a minute, and highlight four key components “address the problem, how you will solve it, why your team is best to solve it, and how far have you gotten”, he says, adding that “pitches should not be memorized.”
Lenciu is a fan of casual conversation between the investor and the entrepreneur. “The pitch went well with Kevin Harrington and he understood my idea quickly”, he said.
The entrepreneur heard of the app from one of the several Facebook groups that he is a member. “In one of my groups, Damien informed the group about the app and the chance to pitch Harrington”, he said. He reached out to Coughlan who coordinated the process seamingly, saying ,“At Pitch Investors Live, everything is organized as the pitch is scheduled for you.”
Lenciu is curious to see how the connection with investors works in real time, especially with the chat message function. “I keep my phone off at night, and when I turn it back on in the morning, I have a lot of messages. It’s probably the same for the investor”, he says, and cautioning “I don’t think it is a good idea to simply message them.”
But what he recommends is creating a pre-recorded pitch for investors to review to get a feel for the person and their voice. Lenciu is sensitive to various ascents and is proactive in getting an understanding of how one speaks, expresses their idea, and values proposition. After the recording, “the investor can write a chat message to invite you to pitch”, he advises.
On next steps, Lenciu is further developing the idea, and testing it through surveys and feedback from various groups. “We don’t have a website yet”, he concludes, without it detering him from the pitch. “I didn’t want to miss the opportunity.
Entrepreneur Eve Barrett feels similarly on the chance to pitch Kevin Harrington, who lives a few minutes away from her. “We are grateful …we were able to connect with the investor utilizing today’s technology”, said the founder of the on-demand mobile app Expedite for ‘uberizing’ legal services such as court reporting, taking photographs and videos, writing notarie, and interpreting legal documents.
Barrett has been one of the earlier adopters, who “regularly watches other pitches to see how we can improve.” The mom also launched her second app, Scoof, to “solve my personal problem with the taxing and time-consuming process of finding compatible proofreaders.” The app is intended for the legal sector, and is available in the Apple App and Google Play stores.
After her pitch, Barrett reached out to Harrington twice who responded immediately. “We are working on an upcoming date to talk further”, she said, sharing the news and remarking “we like to see the entrepreneurs hard at work.”
For many business owners like Barret, the pitch quickly gives access to both parties, matching the entrepreneur with the right investor, whether their preference is for products or services. With the magic happening in the connection, the first step in any new idea or business is the pitch, and “PITCH Investors Live allowed me to fine-tune my talking points”, concluded Barrett.
Join our app to learn what projects and businesses entrepreneurs are working on and what type of pitches investors are taking.
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