Think. Create. Sell. The Insider Secrets Your Best Friend Would Tell You About Entrepreneurship
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The pair report that they changed their pitch presentation quite a bit as a result of feedback they got from their early advisors.
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By the time they made the pitch for real money, it was much more effective than when it started out. Before you start pitching, come up with every question you can possibly think of that a VC might ask and prepare your answers.
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And then every time you do a pitch, write down any question you're asked that wasn't on your original list. It may go without saying, but that doesn't mean it's easy. Be ready for a six-month process during which working with the VC may become your full-time occupation.
Don't make the mistake of giving a presentation that sounds as if your company has proceeded from one triumph to another. It may be tempting to show things in the best possible light, but you'll get a lot farther if you're upfront about problems you encountered and what you did to overcome them. Remember that VCs tend to invest more in a team than a specific company or product. So they'll appreciate knowing how your team handles adversity.
This is the biggest mistake Ellman says he sees. Failing to show your passion in the first 30 seconds of that initial phone call can cost you the deal.
It can be tough to be your genuine self when you're an entrepreneur faced with the alien and high-stakes world of venture capital. It's tempting to put on the face you believe investors want to see.
But that will likely lead to failure, Krasman says. If a VC firm gets interested, plan on spending a lot of time with them. Like this column?
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Sign up to subscribe to email alerts and you'll never miss a post. The opinions expressed here by Inc. They explain:. Notes agent and author Michael Larsen also provides insider insights into the publishing industry as well as a plethora of newly updated information including:. Sign the contract…then write the book. The good news is that almost every nonfiction book published is sold by a proposal. In this comprehensive yet accessible guide, you will learn exactly what a proposal is, what it must contain, and how to pull yours together into an informative, persuasive selling package.
Already a favorite for thousands of aspiring writers, this book has been revised and updated by Elizabeth Lyon to feature nearly two dozen actual proposals, plus:. For the sixteenth edition, every aspect of coverage has been reconsidered to reflect how publishing professionals work today. The sixteenth edition offers expanded information on producing electronic publications, including web-based content and e-books. An updated appendix on production and digital technology demystifies the process of electronic workflow and offers a primer on the use of XML markup, and a revised glossary includes a host of terms associated with electronic as well as print publishing.
The Chicago system of documentation has been streamlined and adapted for a variety of online and digital sources. If you work with words—no matter what the delivery medium—this is the one reference you simply must have.
Literary Market Place www. Publishers Weekly www.
Decoding the secret language of VCs
Helpful Books and Links. The following information may be helpful to you as you prepare your manuscript and proposal for submission to agents:. They explain: How to shape your idea and create a title Ways to get to know the market and competition Tips on writing an effective outline, query letter, and sample chapter The art and science of fiction and nonfiction book proposals How ten actual proposals included here were successfully sold to publishers—and why.