We’re all about covering and highlighting startups and the entrepreneurship efforts which is specifically why I wanted to get this post published here on THE Tech Scoop.
At Grow America’s next Mentor Strategy Session entrepreneurs will receive storytelling insight and tips from Klein, the founder and CEO of Bad Girl Ventures and SoMoLend. The event is August 14, 2012 at the Zions Bank Founders Room at 1 South Main Street in Salt Lake City, Utah. The event is free, and will also be broadcast live at http://www.growam.com/livestream/.
Klein will discuss three key elements to help entrepreneurs hone their storytelling skills in order to receive the help and funding they need. These are:
— Entrepreneurs need to pitch themselves as competent, yet likeable CEOs.
— Entrepreneurs need to know themselves and know potential investors.
— Entrepreneurs need to learn to use fundraising as a friend-raising process.
“Entrepreneurs do themselves a disservice if they aren’t practicing and honing their businesses’ story,” said Klein.
“Everyone loves a good story. If you tell it effectively investors see that you have strong business savvy and passion. This is big with investors; real people pitching real ideas they’re passionate about.”
Bad Girl Ventures (BGV) is a non-profit organization focused on educating and investing in woman-owned startup companies. In its first year, BGV has received more than 400 applicants, has educated more than 250 businesses, has financed 26 women with $700,000 and has created 156 jobs. SoMoLend (www.somolend.com) is a new technology platform that connects business borrowers seeking loans with lenders looking to make a return on investment. SoMoLend is now live and has partnered with KeyBank, which is lending a minimum of $50 million.
Though having a good story can be an effective way for entrepreneurs to pitch their business, it’s important to do their research on potential investors thoroughly.
“Make sure you’ve done your research when you approach investors,” said Richard Swart, executive vice president of Grow America. “Investors have certain areas of expertise and industries they’re comfortable with. If you pitch them on a business idea outside of their comfort zone you will likely not get funded regardless of how great your story is. Always do your homework.”