I keep hearing this 2 minute rule quite a lot. Focus on the presenters suggestions about mastering the opening of your pitch. This crucial 2 minutes or less is where most investors will decide whether you’re the type of person they want to partner with or not.
The open is where you get the investors to like you. It sets the tone for the entire meeting, and it’s really where most people fall flat on their face. Even if the meeting goes on forever, this initial 2 minute opening is where all the money’s made or lost.
Around the 10-minute mark, I was blown away when Nathan Gold gave specific tips for getting creative in order to hook your investor. He described how a canine officer once told him how much more detailed a dog’s sense of smell is over ours by articulating how humans only smell the pizza, whereas the dog smells each individual ingredient. That analogy would be pure gold for a dog breeder trying to raise funds for his Drug Sniffing Dog business, etc., right?
The open is where you have to show your people skills. I think if the open goes right, then the middle and close will naturally fall into place, if you know your product well, have passion, and come into the meeting with your numbers nailed down.
If you haven’t seen it yet, check out the post I did a while back showcasing Aaron Pugh. He won a $1500 prize for giving a smashing 47 second elevator pitch! (link)