The Big Pitch
TagJag is the new name to Pirillo's metasearch engine, Gada.be. It will be the same easy-to-query from a mobile device engine, but will prove to be easier for folks to remember and type in.
We loved the pitch and rooting for Chris through his self-proclaimed anxiety was easy to do - Go Chris! And the asking price: $600 G's.
Here's a brief summary on some useful feedback from the VC's... some things to think about when one is getting that earth-shattering idea and project ready for the big pitch.
Audience - know it. The VC's that is. Should the company/project in fact be funded by VC's?
What do you want to achieve?
What is the project exactly? Focus.
Why are you the best person for this?
In Chris' case, why is Wink not a better solution? (There is always competition - know them too.) Giving your projected timeline is useful.
You will most often be interrupted. Be ready for that.
There are generally 3 types of pitches these guys get:
- PowerPoint presentation - big yawn.
- Scripted, zero passion - thanks for comin out.
- An expressive, clear vision, connected with the audience, the people you're pitching to - let's talk some more.
At the end of the day, if you have passion, you'll intrigue the VC's.
Treat it as a fundable business. With TagJag, it's in a cool idea stage, but not a VC funding stage... yet. Continue to make progress and take it from the neat idea stage to the long term sustainable plan..
Rally free resources, get a small amount of money first, continue to play and progress. Never position the project as getting out there to get a whole bunch of money.
Many people survive for a year before coming to investors. Investors will be happy to sit down and have a chat, give useful feedback and advice and point you in the best direction. And don't ask for this help when all you need money. Touch base, chit chat, get the advice. Over several months, these investors can see the process and progress, and if they like what they see and the relationship has been growing in a positive way, they'll invest! We heard it from them!