Throw out the First Pitch

Can you sum up your business in two minutes or less?  Do you have an ‘elevator pitch’ prepared for that opportune moment when you can (hopefully) captivate a potential investor’s attention?  Anyone can have a pitch, but developing a good pitch takes practice.  The next new thing is to have a video pitch – in addition to YouTube, here are just a few ideas out there for entrepreneurs to post their video pitch…

• Virgin Airlines has just launched PitchTV.  Upload your two-minute video pitch – the best ones are selected each month and will be shown on Virgin Airlines in-flight entertainment channel. Read more about Virgins’ new way to support entreprenuers.
• Vator.TV and cmypitch.com:  web channels for three-minute pitches
• bloblive (n) [blob-liv]: an open-mic night for people with ideas; speed dating for ideas; a fun and engaging networking event.

If you do not have access to video equipment, there are other low-cost or free options available – borrow the equipment, have a friend or teenager assist, contact the local community college, look on Craig’s List, etc..  In Yakima County, Yakima Valley Technical Skills Center (YV-TECH) has a video department and Y-PAC, the local public access channel, checks out equipment and then allows you to use their editing equipment to edit and prepare your video – free of charge.

Recently I put together some ‘best of’ articles and resources on making a pitch.  Download PDF.  The point I remember most from these came from an investor comment to the effect that you need to know every aspect of your business – sales projections, financing, marketing – because if you get the chance to pitch to a venture capital group, they will call you out in a heartbeat if you try to bluff your way through and if this happens, your credibility and chance of receiving financing are shot.

What’s your favorite website for viewing pitches or tips for preparing a good elevator pitch?

Mind Your Own Biznik

There’s a really cool not-so-new (but new to me) website out there called Biznik.  It’s like Facebook for businesses and on first glance, I think it combines the best features from LinkedIn and Facebook to offer a really great tool for social AND business networking.  I’ve registered the Yakima Valley Entrepreneur Network on it, and am going to look into it further to see how it can help get the word out on the network.  I always remember reading Dear Abby and one of her standard reply is MYOB…Mind Your Own Business.  When I first heard of Biznik it made me think of that saying.  How fitting though, if you don’t mind your own business, who is going to?