Here’s how to receive a $1,000,000 investment for your startup in 5 minutes
A million dollars is a lot of money, and let’s face it, for many entrepreneurs, it would be good for the wallet. A lot of good. Especially if you can acquire it in 5 minutes!
That’s what happened to Margaret Moore, co-founder of Moore and Gasperecz Global Inc. when she took part in the Fundica tour. I met her and she gave me her advice.
The company has created a web application that enables the popularization of environmental, health and safety documents, such as permits and regulations, all using artificial intelligence to increase user productivity as well as reduce costs by up to 80%.
As part of the Fundica Final Tour, a number of companies take to the stage to pitch. At the end of these presentations, three winners are chosen to take home an investment of $1,000,000.
They were all good, but Margaret’s presentation stood out from the rest! From the moment she took the stage, I knew she’d win. Her poise, her confidence, her charisma – all the winning elements were there. And I wasn’t the only one to think so. The applause that followed her pitch bore witness to the impression I was getting: the audience was won over.
I took a few minutes with Margaret to get her seven tips that helped her win the opportunity to pitch for $1,000,000.
1- If you don’t believe in yourself, no one else will.
You have to mentally accept that you belong and that you deserve your chance. But above all, you have to believe that you’re the best person for the job.
2- Believe in and know your technology
You need to know your solution inside out. There’s often a question period at the end of a pitch. You need to be able to answer them. You need to be convinced that your technology solves a real problem. You have to be convinced to be convincing.
3- Practice, practice, practice
It’s important to practice. People tend to underestimate the stress and anxiety of a public pitch. It’s easy to go off on a tangent and fail to use the allotted time effectively and strategically to convince the jury. Don’t hesitate to take on a coach to practice if you need to.
4- Educate yourself and, if necessary, join an incubator
You can’t know everything, but it’s important to have a general knowledge of your company. I joined an incubator to help me make the transition from a professional with over 20 years’ experience to a full-time entrepreneur. The mentality is different and the way of attacking and analyzing problems is different, too. I believe that an incubator can help us gain confidence and credibility. I don’t come from a tech background, so I took an online course in artificial intelligence.
5- Know your numbers
I’m not the best at finance, but I have a CFO and I don’t hesitate to ask him questions. Finance has a very masculine language and so does the way we approach venture capital. It’s a language that we women have to learn. At first, I had a lot of resistance, but I soon realized that to succeed, you have to play the game of financial seduction.
6- Surround yourself
Surround yourself with people who are going through the same situations as you, like women entrepreneurs, for example. You can learn and draw inspiration from their struggles. I experienced family drama in the early days of my business. As a woman, you’re often the contact person when a family member falls ill. Fortunately, I was well surrounded, which enabled me to take time off when necessary. I really do have an incredible team who have given me a lot of support.
7- Don’t be too hard on yourself
You can’t know everything. Nobody knows everything and we women want to know and control everything. You have to let go and trust your team and life. We’re all emotional, men and women alike. We just have to know ourselves and learn to manage our emotions.
When I asked her what she would do with the $1,000,000, she replied that the company would double its number of employees within a year and concentrate on making its customers happy. URelles wishes her every success in her development.
