I can’t tell you how frustrating it is when I see a really great idea get a terrible pitch. Some of the most talented and creative people Daymonds ever met come on Shark Tank, and they show the Sharks these really cool products. Then they show the Sharks that they’re just not as committed to their businesses as they need to be to get funding.

How do the Sharks know they’re not committed enough? Well, they haven’t taken the time to follow through on their pitches and find all of the answers they need in order to write them a check. When someone walks in and pitches their idea on Shark Tank, Daymonds really not looking for a whole lot. He wants to know that they’re professional and serious about their business, and he can tell if they are because they hit all of the points on this pre-pitch checklist:

THE BARE BONES OF A GREAT PROPOSAL

If you hit all of these points in your pitch, you’ll answer most of your investors’ questions before they have time to ask them. Being sure that you’ve checked off all of the items on your checklist also ensures that you’ll have done your due diligence in researching the market, your competition and how you plan to succeed.

In addition to these points, I’d also recommend preparing a few exit strategies for different scenarios. You don’t necessarily have to include those in your presentation, but have them ready for when your investors ask what you’ll do if something goes wrong. Other than that, smile, relax and show them why you’re a great investment.

Leave a Reply

Your email address will not be published. Required fields are marked *