It happened again last week, I was listening to an entrepreneur's elevator speech to an angel investor's team and the entrepreneur spend the entire five minutes giving a product sales pitch. Needless to say, the investor tried to coax information from the entrepreneur, but to no avail. The entrepreneur didn't understand what the angel investor wanted and so insisted on trying to 'sell' him on his product.
This is a common situation that needs to be understood when you are developing your plan presentation or even your 60 second elevator pitch.
Every single business plan considers an opportunity, the market that opportunity will enter, and the potential market estimate. The golden question is: How much of that market do you think you can actually get? In other words, the market you can actually attain as compared to the market that you can see is there?
The reason this question is described as golden is that it is the gateway question to the investor’s billfold.
Human beings tend to fear the word 'commitment' and it is in this fear, and this fear alone, that one has to be able to negate when it comes to big-ticket sales.
When it comes to selling, how can you help to ease that fear of commitment for YOUR customers?
