If you're a local entrepreneur looking for funds to propel your startup forward, it helps to know what investors in Central Florida are looking for during a business pitch. Luckily, we spoke with a couple of investors to find out exactly what that is.
Richard Licursi, president and CEO of Winter Park investment firm venVelo, andMitchel Laskey, an angel investor with Florida Angel Nexus, share what captures their interest when companies pitch, what loses their interest and key details to know when pitching:
What captures your interest when companies pitch?
Licursi: The idea, the concept and the business model of what the company is trying to accomplish
Laskey: The excitement of an entrepreneur's voice, knowledge of the product or service they are doing, size of the market, the niche of the product or service being filled, competitive advantage, go-to-market strategy and how they expect to scale the business
What loses your interest when companies pitch?
Licursi: The fastest way to lose our interest is having absolutely unreal expectations about market interest and the cost of getting the business into operational shape. Also, if the management team needs no advice or mentorship, that loses our interest, too
Laskey: It loses my interest when a company pitches about a product or just a feature of a product, but hasn't really thought about the company — like how to build a team or how to approach the marketplace.
What is one key detail investors should know when pitching?
Licursi: Have a clear go-to-market strategy. That is the single biggest miss entrepreneurs have.
Laskey: Know what you really need to succeed. Entrepreneurs should know how much money they need to take their business to the next level.