The MIT Enterprise Forum of Cambridge kicked off the 2006 $125k Ignite Clean Energy Business Competition featuring 2 excellent speakers: Cary Bullock, CEO of GreenFuel Technologies and Rana Gupta, VC at Navigator Technology Ventures. Both presenters gave excellent presentations on pitching a business to investors with Cary giving the perspective of an ent> Here are the main points of Cary's presentation:

• Don't run out of money when you are in a startup, you have less leverage asking investors for money when you have exhausted your money. The investors know that you are desperate.
• Sometimes investors are more receptive if they know that you don't come with an agenda of asking for money. Investors are especially keen if you come to solicit feedback from them about your idea. Believe it or not, many investors are more than happy to help you.
• Investors don't have a long attention span. Keep it terse and go straight to the point. That's why a good pitch is key.
• Of course, being investors, they are interested in making money. So tell them how you make money with your idea.
• Practice your presentation. If you have more than 1 person presenting, choreograph it. Have people available to answer the different aspects of the business - from products to finance.
• Be prepared with the elevator speech. Oh yeah, elevator speech isn't just done in the elevator. Telephone follow-up is a situation where elevator is done.
• Get a great lawyer don't skim!!! All lawyers sound articulating but look for someone with substance.
• Don't overvalue your company.
• Partnership is critical.
• Everyone in the company has to have the same story. In other words, everyone in the company should say the same thing consistently to the customers and investors.

2/17/2006 12:43:52 PM (Eastern Standard Time, UTC-05:00)

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Entrepreneurship