Entrepreneurs are, by nature, risk-takers. This quality can serve as an advantage during a startup pitch competition, but it can also go terribly wrong.
Curious about what kinds of risks pay off — especially when funding is at stake — I asked 10 entrepreneurs from the Young Entrepreneur Council about the craziest things they have done to get investors' attention.
Their best answers are below.
I got up on stage and crushed our pitch. People loved it. At the very
end, I said we were raising $18.33, what a lunch would cost to meet
with me.
This was a gutsy move but we ended up getting over 30 contacts from investors taking me up on my lunch. Every one of them referenced the amount in their email or in-person conversations. It's something different that stuck out in their minds.
Investors don't care what you're trying to raise when they are first getting to know you. They want to know you. Do something that'll stick out in their minds. - John Rampton, Due
This was a gutsy move but we ended up getting over 30 contacts from investors taking me up on my lunch. Every one of them referenced the amount in their email or in-person conversations. It's something different that stuck out in their minds.
Investors don't care what you're trying to raise when they are first getting to know you. They want to know you. Do something that'll stick out in their minds. - John Rampton, Due
We were trying to think of a creative way to make my insurance startup, Margo, get noticed at a startup expo.
We tossed around the idea of free food or drinks instead of the usual throwaway swag, but we wanted to be sure whatever concept we went with tied back to our business. Our value proposition is that we make it easier to shop for, save on, and manage your insurance. More or less, we take the pain out of insurance.
What else takes away pain? Massages. So we decided to hire two chair masseuses to give away free massages to attendees. It drew a ton of people to our table, and we were able to pitch them our concept while they waited in line for our masseuses. - Zach Robbins, Leadnomics
We tossed around the idea of free food or drinks instead of the usual throwaway swag, but we wanted to be sure whatever concept we went with tied back to our business. Our value proposition is that we make it easier to shop for, save on, and manage your insurance. More or less, we take the pain out of insurance.
What else takes away pain? Massages. So we decided to hire two chair masseuses to give away free massages to attendees. It drew a ton of people to our table, and we were able to pitch them our concept while they waited in line for our masseuses. - Zach Robbins, Leadnomics
We were fortunate to hit profitability in our third month of
operations. We didn't need money from investors, but we did need the
valuable connections that powerful investors can provide to a young
company.
Thus, when we entered investor meetings or other pitch competitions, our sole purpose was to impress would-be investors enough that they would sign on as advisors, with the hope that if we raised funds down the line, they would be given first right of refusal.
Some people were angry we had wasted their time, but it allowed us to get our name out there and acquire some very valuable allies without giving up a portion of our company. - Joel Butterly, InGenius Prep
Thus, when we entered investor meetings or other pitch competitions, our sole purpose was to impress would-be investors enough that they would sign on as advisors, with the hope that if we raised funds down the line, they would be given first right of refusal.
Some people were angry we had wasted their time, but it allowed us to get our name out there and acquire some very valuable allies without giving up a portion of our company. - Joel Butterly, InGenius Prep
Everybody can have an opinion when they're critiquing your pitch, but
it doesn't mean they are correct. Respectfully listen to their question
and respond, but do not be afraid to tell them they are wrong when they
are.
However, you have to be ready to back it up. I was in a pitch and the investor told me they didn't believe my market size numbers because they sounded too extraordinary. I calmly challenged their statement, offered a few facts, then followed up with more research to prove my point.
Initially, they weren't interested past the first pitch, but after standing by my statements and backing them up, they came back and requested another meeting. - Andy Karuza, FenSens
However, you have to be ready to back it up. I was in a pitch and the investor told me they didn't believe my market size numbers because they sounded too extraordinary. I calmly challenged their statement, offered a few facts, then followed up with more research to prove my point.
Initially, they weren't interested past the first pitch, but after standing by my statements and backing them up, they came back and requested another meeting. - Andy Karuza, FenSens
To give the audience an idea of the kind of voice talent they could
find on Voices.com, I have been known to perform celebrity impressions.
My impressions are terrible, but it gets the idea across that we help creative producers find professional voice talent for their commercials, podcasts or phone system recordings. I only do this because it creates an "a-ha" moment and everyone immediately gets what we do.
For comic relief, I assure the audience that they don't need to fear accidentally hiring me. I don't have a profile on the website. - David Ciccarelli, Voices.com
My impressions are terrible, but it gets the idea across that we help creative producers find professional voice talent for their commercials, podcasts or phone system recordings. I only do this because it creates an "a-ha" moment and everyone immediately gets what we do.
For comic relief, I assure the audience that they don't need to fear accidentally hiring me. I don't have a profile on the website. - David Ciccarelli, Voices.com
My partner and I broke one of the BIG pitch rules: We did a couple's pitch.
We spent two days scripting and rehearsing our pitch as a duo, playing off each other and defining roles. The result: The pitch at WebSummit was a riot. The crowd became part of our pitch and a VC tweeted: "Pitching is the art of salesmanship. These guys are the masters."
We also engaged the audience. That's tricky. If they don't respond, you're left hanging. So we got them to hold their hands up and then asked questions. For those that tweeted, we gave away over $100,000 of free use of our platform and services. Showing you can sell is at the heart of startup success. - Eran Eyal, Springleap
We spent two days scripting and rehearsing our pitch as a duo, playing off each other and defining roles. The result: The pitch at WebSummit was a riot. The crowd became part of our pitch and a VC tweeted: "Pitching is the art of salesmanship. These guys are the masters."
We also engaged the audience. That's tricky. If they don't respond, you're left hanging. So we got them to hold their hands up and then asked questions. For those that tweeted, we gave away over $100,000 of free use of our platform and services. Showing you can sell is at the heart of startup success. - Eran Eyal, Springleap
We were closing our VC round and I had one last investor to present to finish everything.
I pitched on my wedding day hours before the wedding started via my Thailand destination wedding hotel room.
We closed the round and I am now happily married to both my wife and investors. - James McDonough, SEE Forge creators of FAT FINGER
I pitched on my wedding day hours before the wedding started via my Thailand destination wedding hotel room.
We closed the round and I am now happily married to both my wife and investors. - James McDonough, SEE Forge creators of FAT FINGER
I led a Tech Summit for an important client and let's just say there was a lot of material to cover: 80 slides, at least.
The presentation was off to a good start, but I knew it was only a matter of time before eyes started to roll back and folks started to disengage. So I gauged their sense of humor ahead of (and during) the show and managed to layer-in a few funny easter eggs.
I gradually pushed the envelope (asking permission as I went) and before long had everyone in tears from laughing so hard.
Humor breaks down walls. The summit was a success because it grew the relationship, not just their knowledge. - Robby Berthume, Bull & Beard
The presentation was off to a good start, but I knew it was only a matter of time before eyes started to roll back and folks started to disengage. So I gauged their sense of humor ahead of (and during) the show and managed to layer-in a few funny easter eggs.
I gradually pushed the envelope (asking permission as I went) and before long had everyone in tears from laughing so hard.
Humor breaks down walls. The summit was a success because it grew the relationship, not just their knowledge. - Robby Berthume, Bull & Beard
There's actually a study that shows that swearing at the start or end
of a presentation can influence the audience positively in your favor.
In the study, people reported being more influenced by a speech that
included mild obscenity than the same one without it.
There's a lot of controversy about whether profanity in speeches is effective or not. What is clear is that it produces a strong response in people, which can be useful depending on what message you're trying to convey. Harvard Science Review confirms that swear words can be useful in conveying that you feel strongly about something or for inciting strong feelings in someone else.
In my own experience, when done tactfully, using profanity has led audience members to come up to me and thank me for being "real" and "personal." - Mattan Griffel, One Month
There's a lot of controversy about whether profanity in speeches is effective or not. What is clear is that it produces a strong response in people, which can be useful depending on what message you're trying to convey. Harvard Science Review confirms that swear words can be useful in conveying that you feel strongly about something or for inciting strong feelings in someone else.
In my own experience, when done tactfully, using profanity has led audience members to come up to me and thank me for being "real" and "personal." - Mattan Griffel, One Month
In 2013, I presented at Finovate, a premier financial technology conference.
I was set to pitch to 1,500 people at 9 a.m. I began my pitch with, “Good morning. My name is Krista Morgan, and I’d like to fund your brains out.”
Finance as an industry has a reputation for being a little boring, conservative, and old-school. We knew we needed a bold slogan that would attract attention to our innovative lending platform. After I said it, there was a moment of silence before a rumble of chuckling began.
Afterward, we had one of the busiest booths at the conference and gave away a ton of t-shirts with the slogan. Yes, it was a risky move, but in our case the risk paid off. It also set the tone for all our future campaigns. - G. Krista Morgan, P2Binvestor
I was set to pitch to 1,500 people at 9 a.m. I began my pitch with, “Good morning. My name is Krista Morgan, and I’d like to fund your brains out.”
Finance as an industry has a reputation for being a little boring, conservative, and old-school. We knew we needed a bold slogan that would attract attention to our innovative lending platform. After I said it, there was a moment of silence before a rumble of chuckling began.
Afterward, we had one of the busiest booths at the conference and gave away a ton of t-shirts with the slogan. Yes, it was a risky move, but in our case the risk paid off. It also set the tone for all our future campaigns. - G. Krista Morgan, P2Binvestor
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