Brave entrepreneurs face the panel of private equity experts on The Pitch, brought to you by BNN. I am on the panel of experts. Andrew Bell hosts the panel and after the show, we often chat with the entrepreneurs to give them feedback. Then the private equity panel tends to review the presentations and have a quick gossip about business and what is on the radar screen.
This week, Robert Gold and Andrew Brown did an "after the show" podcast and I must say, they asked great questions. Hear what Derek Smith of Bridgescale had to say about RIM - oddly prophetic.
Listen to the Podcast
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This week on the BusinessCast we go behind the scenes of BNN's 'The Pitch' and debrief three of their top investors - right after they've turned down the entrepreneurs. Hear what the investors really think, with this unique opportunity to be inside their heads - and pitch better yourself.
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Showing posts with label BNN The Pitch Andrew Bell. Show all posts
Showing posts with label BNN The Pitch Andrew Bell. Show all posts
October 17, 2011
June 11, 2011
3 Reasons for business owners to listen to Rick Nathan
Recently, on BNN The Pitch, Andrew Bell asked a very good question about what private equity judges to be their most important reason to do a deal. Rick Nathan answered. Now Rick runs Kensington, one of Canada's best funds, and he built the CVCA, so we are talking about a deep experience of great partnerships with business owners. Anyone watching the show, deep down in their bones, would also have known the answer.
Quite simply, it is the people.
Early stage owners nod their heads - I'm a good guy, my golf buddies like a beer with me after a game.
Well, that was not Rick means. He judges their business readiness. Rick tends to focus his questions on The Pitch around these three points:
To give Rick's focus on the people a bit of meaning, let me run through a personal example that happened to me after The Pitch went on air. I got a call from an entrepreneur who had a product and wanted help. As I gently probed, he revealed that he had not even drafted one page of information about his concept, did not have any social media accounts where we could connect, was still using hotmail for his email and did not even have a professional signature line in his email where you have a phone number and your name in full.
Why bother phoning then? Why not just chat to your golf buddy? How am I going to take a few minutes to help someone not in my client segment? I enjoy helping but if there is nothing for me to email to someone else, then there is not a starting point.
I also asked if he would go on The Pitch to just even discuss his business idea, but that was a damp squid too.
To all those entrepreneurs, to get Rick Nathan to help you, have a full business plan, a full PowerPoint deck. At least read one book on how to attract money. An easy book that is popular with the BDC and the VCs, a go-to-guide as you develop a business, is Money Magnet. Otherwise, browse the Internet.
At least set up a Twitter account.
Jacoline Loewen is an expert in private equity and you can see her on BNN The Pitch
Quite simply, it is the people.
Early stage owners nod their heads - I'm a good guy, my golf buddies like a beer with me after a game.
Well, that was not Rick means. He judges their business readiness. Rick tends to focus his questions on The Pitch around these three points:
- What have they accomplished in the past?
- What networks do they operate within - is there a top level adviser involved?
- How much business acumen is in their team and are they to really grow their business? Have they really analysed their competition and how they can build a niche market and expand from there.
To give Rick's focus on the people a bit of meaning, let me run through a personal example that happened to me after The Pitch went on air. I got a call from an entrepreneur who had a product and wanted help. As I gently probed, he revealed that he had not even drafted one page of information about his concept, did not have any social media accounts where we could connect, was still using hotmail for his email and did not even have a professional signature line in his email where you have a phone number and your name in full.
Why bother phoning then? Why not just chat to your golf buddy? How am I going to take a few minutes to help someone not in my client segment? I enjoy helping but if there is nothing for me to email to someone else, then there is not a starting point.
I also asked if he would go on The Pitch to just even discuss his business idea, but that was a damp squid too.
To all those entrepreneurs, to get Rick Nathan to help you, have a full business plan, a full PowerPoint deck. At least read one book on how to attract money. An easy book that is popular with the BDC and the VCs, a go-to-guide as you develop a business, is Money Magnet. Otherwise, browse the Internet.
At least set up a Twitter account.
Jacoline Loewen is an expert in private equity and you can see her on BNN The Pitch
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