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Making A Sale In 90 Seconds Or Less
Fast-talking entrepreneurs are getting a unique opportunity to sell their business plans to investors.
Reporter: Michelle Riell Email Address: mriell@nbc15.com |
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Posted Thursday, November 6, 2008 --- 5:00 p.m.
Fast-talking entrepreneurs are getting a unique opportunity to sell their business plans to investors.
As NBC 15's Michelle Riell reports, what makes it difficult, is they have 90 seconds to make their pitch.
Joe Plasterer says, "My product is the desktop media channel, a big widget that pushes videos, music and content right to VIP's desktops." Stacey Kannenberg says, "I created a book that helps parents kids and teachers exactly what they're tested on, it's written for kids." Kavi Turnbull says, "Consumers are searching for economic and environmental solutions to the current energy crisis in America drivealternatives.com has their solution."
Turnbull, Kannenberg and Plasterer are all entrepreneurs looking to maximize their ideas by presenting them in 90 seconds flat. Tom Still, the president of the Wisconsin Technology Council, says, "We call it the Elevator Pitch Olympics because essentially the notion is if you can make your pitch in the length of time it takes to take an elevator ride."
The pitch is made to a panel of experienced investors, who judge the pitch on a scale of 1-5. The first score reflects whether they'd read past the first page of the business proposal. They're also scored on whether they'd set up a meeting based on the pitch. It's priceless feedback and connections made through the match making of entrepreneurs and investors which help get these ideas into the real world.
Plasterer says, "There's a lot of people in Wisconsin, a lot of people coming who are looking for companies like mine to invest in and every time you get an opportunity to give your pitch and refine your pitch, you have an opportunity to meet someone who is looking for a company just like yours." Kannenberg adds, "They're people who have companies that are thriving and any little experience and help they can give me makes it so much easier for me."
Thursday's event was part of an early business symposium put on by the Wisconsin Technology Council. Organizers say this has been a great launch pad for local entrepreneurs.
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