Comments on: Test a Startup Within a Minute!

By: Be a Shark or an Angel, Your Choice | Venture Hype

Be a Shark or an Angel, Your Choice | Venture Hype — Wed, 04 Nov 2009 18:02:24 +0000

[...] Joey Lo | Nov 05, 2009 Hello there! If you are new here, you might want to subscribe to the RSS feed for updates on this topic. Font Size: + | – In a recent rant by Jason Calacanis, he raged about angel groups that charge entrepreneurs a fee up to US$6,000 for the opportunity to pitch. [...]

By: Top 3 Finalists for The Perfect Pitch Competition 2009 with Sir Richard Branson | Venture Hype

Thu, 22 Oct 2009 16:53:57 +0000

[...] create the “Perfect Pitch,” entrepreneurs were instructed to pitch a one-minute short video or a short written description that would compel investors to take a closer look at [...]

By: The Hyper Team @ Venture Hype

The Hyper Team @ Venture Hype — Thu, 17 Sep 2009 14:09:08 +0000

Unfortunately, many budding entrepreneurs or those who haven't done their research fail to optimize their time with potential investors. More often than not, entrepreneurs only got one shot. Fail to capture investors' interest within scheduled time and they may be rejected even before they get to finish their pitch.

By: The Hyper Team @ Venture Hype

The Hyper Team @ Venture Hype — Thu, 17 Sep 2009 07:09:08 +0000

By: tongyun

tongyun — Mon, 14 Sep 2009 14:38:36 +0000

I really like the stopwatch idea. I'm the type of person who likes it when others get straight to the point. It shows that they are sensitive to my time and respectful of it. People who verbally dance around what they do are just wasting my time and I have very little patience for those type of people.

By: The Hyper Team @ Venture Hype

The Hyper Team @ Venture Hype — Wed, 02 Sep 2009 06:50:22 +0000

Good entrepreneurs don't beg for funding. They make convincing pitches and concisely point out why investors should invest in their startups.

By: 1heather

1heather — Sat, 29 Aug 2009 00:15:24 +0000

Ingenious. This really makes the entrepeneur think about what they are doing instead of just strolling through with their hand out. It doesn't make them beg for what they need, but gives them a bit of dignity and pride to do what they have to do.

By: The Hyper Team @ Venture Hype

The Hyper Team @ Venture Hype — Tue, 18 Aug 2009 16:05:23 +0000

To Segal, the three most important areas to cover in the 60-second test are:

1. What’s the problem
2. How do you solve it
3. Where’s the money (business model, how to monetize)

The "five common components of quick intro" probably works well in other business and social occasions but not in a pitch. For example:

Striking fact to gain attention - Seasoned investors won't be amused. They've heard way too many "striking facts" when pitched by entrepreneurs.

What we do, What group we serve, Why they care - Go straight to the problem and tell investors how the startup is going to solve the problem. These three will naturally fall into the pitch if the problem and solution are addressed.

What I want from the listener - Needless to say, the entrepreneur wants funding if she's pitching an investor. But before she receives any, she needs to tell the investor how the startup makes money.

We've also written a post related to pitching. You may also like to take a look: 6 Keys to Evaluating a Startup Pitch

By: Jim Flowers

Jim Flowers — Mon, 17 Aug 2009 11:06:24 +0000

I really like the stop watch gimmick. It's a nice, impersonal way of testing whether the speaker understands the concept of the elevator pitch. A little pre-printed scorecard might be nice, too. Within the one minute time limit does the speaker cover the five common components of the quick intro? 1. Striking fact to gain attention 2. What we do 3. What group we serve 4. Why they care 5. What I want from the listener

By: chrisis

chrisis — Sat, 15 Aug 2009 02:33:38 +0000

Totally agreed. I think the test is innovative and unique which is why it is so successful. Any business starting off will need a miracle or proper flow to work.