[really_simple_share]A: When they don’t like the person pitching the good idea!
And I don’t mean they don’t like your personality!
I mean, do they trust you that if they hand you their money – that you are capable of following through, and providing them a return on their investment without losing their capital?
It doesn’t matter to them how good your idea is, if they don’t believe it is in capable hands!
How YOU come across during the pitch is more important than the idea you are pitching. But that doesn’t mean they aren’t listening to what you are saying. They are listening very carefully. They are listening, however, for clues to make judgements about your qualification to handle their money. Even as you answer their questions, they are often listening more to how you handle yourself than to the answer itself!
In particular, as your pitch your idea, they are judging you for:
- Credibility: Do they believe you as you are saying whatever you are saying? Do you come across as credible and genuine?
- Competence: Are you equipped to start and grow a business? Does anything indicate that you know what you are doing?
- Commitment: Are you going to put your heart and soul into pursuing the idea? Are you willing to make sacrifices as your project gets off the ground? Are you willing to live on “Mac & Cheese”? On the TV show “Shark Tank,” this last question was pivotal for Mark Cuban in rejecting a contestant.
- Leadership: Do you seem capable of inspiring others with your vision, and of empaneling and managing a team to execute the tasks necessary? Your communication skills, confidence, listening skills, and the way you receive any feedback you are given are watched very closely to assess your leadership ability.
To an investor, then, there is nothing worse than hearing an idea that has potential, from someone they just can’t believe in!
The good news is, all of these attributes can be developed, once you aware that possessing and displaying these attributes is more important than the idea itself!