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I listen to a lot of business pitches and way too many of them try to make something out of the entrepreneur\u2019s attitude. Commitment is great, but who isn\u2019t committed? Passion is great but who isn\u2019t passionate about their business. Saying that adds nothing. It\u2019s assumed. So too, with optimism. Business pitch optimism is vastly overrated.<\/p>\n
Business pitch optimism<\/h2>\n
This comes up because I heard this the other day:<\/p>\n
\nI love your optimism. What I don\u2019t like is the complete lack of experience that\u2019s causing it.<\/p>\n<\/blockquote>\n
Ideally, a business pitch is exciting because the business potential is exciting. Optimism ought to be a combination of potential market, product-market fit, scalability, defensibility, and management experience. Better yet, early sales, initial growth rates, proof of concept in buyers or users or subscribers or signups or something equally concrete.<\/p>\n
Don\u2019t talk about it. It\u2019s assumed.<\/h2>\n
Frankly, in a business pitch, I mistrust shows of undue optimism, passion, commitment and resolve. I worry that early-stage entrepreneurs are working towards some mythological promise that they have the will to succeed, as if will alone can make a business successful. I don\u2019t want to invest in passion unless it\u2019s tempered by experience and based on a solid business plan.<\/p>\n
You\u2019ll find people talking about showmanship in business pitches. Absolutely. Tell your story well. Tell the story of the market, the need, the solution, the steps along the way, and the team that\u2019s driving it. But it\u2019s about your business, and you fit in as the manager who will drive it. Angel investors will frequently talk about betting on the jockey, not the horse. In that case, it\u2019s betting on the jockey\u2019s skill and experience, not just optimism or passion.<\/p>\n
It\u2019s a fine line. Sell your angel investors your business, not your optimism. Not your passion. Not your commitment.<\/p>\n
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