Background
Every entrepreneur knows that being able to pitch is a crucial skill. Whether you want to raise money, make a sale or gain a partner, pitching is a fundamental tool in each entrepreneur's toolbox. As a lawyer, you learn advocacy because your job is to convince the other side that your perspective and views on a subject are correct. I applied those skills to raise $250,000 with just an idea.
Psychology
One thing that people don't like to admit is that we are all animals; we are creatures that, for the most part, are driven by hormones, chemical reactions, and electrical pulses. We like to think of ourselves as more sophisticated, but we aren't.
One of the most primal aspects of humans is our appeal to social hierarchy. From business to love and friendship, we always want to be with people who help us move up the social hierarchy.
Why Does This Matter?
Because a pitch is no different, if, at the end of an investment pitch with a VC, that VC has a higher social standing than you, then you will NOT get investment. If you have a higher social standing, then you WILL get investment. It's really that simple.
Prizing
Prizing is making yourself seem like the ultimate prize, the most valuable person in the room.
The biggest mistake founders make is they walk into a pitch and think the VC's money is the prize.
They act like it, too, they let VCs cut them off and ruin their pitch, and they change their entire schedule to fit into a VC's schedule. All of this is HURTING you.
To get investment, YOU NEED TO BE THE PRIZE.
Mindset
There is a nearly unlimited supply of money in the world, many trillions of dollars. Maybe a handful of companies at the pre-seed/seed stage will become unicorns. If you genuinely believe your company is one of them, then YOU ARE THE PRIZE.
So ACT LIKE IT. Ensure you communicate your points, share your story, and pitch your business. If a VC is going to waste your time and disrespect you, then tell them to f*ck off.
People want what they can't have. It's that simple. If you want to raise money, before I teach you any trips or tricks.; you need to learn Prizing, you need to have the mindset that YOU ARE THE PRIZE, and you need to genuinely believe it.
