Have you ever dreamed of being on Shark Tank? Do you have an amazing business idea that needs capital to get off of the ground. Today’s show is an interview that Loral did with Jonathan Foltz. Jonathan is the co-founder of PITCH Investors Live. This is a new platform that allows entrepreneurs to pitch their ideas to potential investors and sharks.
Jonathan sums it up as Shark Tank meets Kickstarter meets online dating all live streamed. This revolutionary new app not only allows regular people to get in front of much sought after investors, but it has the capacity to get your idea in front of regular people who might be interested in investing in you and your idea. Loral is super excited about this new business partnership and her and Jonathan talk about everything involved in pitching and how you can get started with some incredible bonus offers.“We are using the digital space to create opportunities that people have never had before.” -Jonathan Foltz Click To Tweet
You can find Jonathan Foltz here:
[06:01] The app has about 200 to 300 investors in their database. People are even getting deals from people watching in the audience, so there are probably more like 1000 investors.
- [07:55] The Big Table teaches how to vet deals.
- [08:19] Sharks are equity investors that also bring their brains and experience to the deal.
- [09:24] Can you give too much info when pitching a shark? Real sharks are so busy, they aren’t going to “steal” your idea.
- [13:39] An accelerator session is a 30-day trial to learn everything you need to know to get your idea off of the ground.
- [17:14] Loral gives tips on what you need to pitch properly. Investors also like partners, knowing your market, and how you’re going to make money.
- [18:56] Have a really good story and have numbers that make sense.
- [20:04] Jonathan shares how he got started with PITCH Investors Live.
- [22:13] Getting money and strategic partners is always one of the hardest things. Getting cash from investors can accelerate growth.
- [24:44] Jonathan shares a success story where a guy pitched, got rejected, and then someone from LinkedIn contacted him. Now his company has been acquired.
- [26:24] People who are just watching the pitch may contact the entrepreneur. The pitches will be available for later viewing.
- [28:29] To get started, you sign in, and download the app. You can also create a pitch summary and watch other pitches. The live summary allows investors to see them.
- [30:26] You also get a notification when someone wants to see your pitch.
- [31:44] You just need to do it. The first pitch will change form many times.
- [32:12] The 10 Steps to a Perfect Pitch tells you how to construct a pitch. There is a video and PDF version. They also have a one page business plan template. There is also a Pitch Deck PowerPoint type presentation. The accelerator program is a private Facebook group of very hungry entrepreneurs collaborating together.
- [39:02] There is also a tip feature in the works.
- [49:50] The whole idea is to offer value and help entrepreneurs get their ideas out into the world.
- [50:46] Make sure you at least get a patent pending, but don’t let it slow you down. You can also have the investors sign an NDA.
- [54:47] It’s important to be concise and get to the point. Be up front if you don’t know something.