Tell a Story!

Have you ever visited a kindergarten class during story time? It is the most capitivating experience you will ever see. I don't care what the children are doing, they will run to sit down, sit up close, cross their legs and endure rug burns just to hear the latest fairy tale.

Are adults any different? When I was learning to pitch ideas, I learned that people want to hear a story about something they can identify with. I learned that if you can put your initial presentation in a story format, people will listen. We are all programmed to communicate like this and it is very easy to build confidence speaking when you have an attentive audience. So next time you are nervous about public speaking, try starting out with a story for your pitch and watch your prospect's face light up like its story time in the kindergarten class again.

Keep achieving,
NaShawn

One Thing all Venture Capitalist Want!

In my last post, I stated that I would write about the one thing that every venture capitalist wants to see in a new venture. Initially, I had every inclination of a prompt response. However, I soon discovered that the answer to the question was not so "cut and dry. "

I did some research and found a lot of cookie cutter speculation in many blogs, magazines and publications. But, I did not want to take this lame approach, so instead, I conducted my own research and called some VC's to get their response. Here are the results:

After surveying 100 VC'c and three weeks later, My results were... there was not a clear cut answer. In this case, some VC's said ROI or Management Team, or traction, but nothing conclusive.

Often times in research we want one thing to put our finger on one thing and have that "Ah ha" moment but in realty, real world research does not always demonstrate any significance of one factor over another.

This is why I think there is so much speculation about this topic because people sell they claims/opinions as if it is fact to desperate business owners looking for investors. However, I would rather keep my integrity and give you the cold facts.

Nevertheless, my research was not in vain. After talking with a couple of VC's, they did elude to one trait that I think is worth mentioning. They all stated that they had no emotional attachment to a business and what the liked from the owner was confidence.

Not the type of confidence that you see at the bar from desperate old men trying to pick up 21 year olds, but the type of business confidence that comes with communicating how the VC is going to get their money back. This is something we can build on.

So here is the question, "what is a good way to practice speaking to convey confidence?" In my next post I will address this answer.

NaShawn
PS If you have something you want me to address, drop me a line.

What is wrong with My Business Plan?

I remember my first time writing a business plan after graduate school. I was so sure my business would be successful. Armed with a MBA degree, I happily purchased a business plan software, gathered research, and carefully crafted my plan. After completing the plan in 6 months (yes, it took that long) I began shopping it around to investors, VCs, and banks.

After no interest, I hired a consultant and asked him, “what am I doing wrong?” He chuckled and said, “no one cares about your business idea.” I was so embarrassed and crushed but in the conversation, I came away with some valuable information. As he explained, investors want guarantees that they will get their money. I learned that a business plan is not just about describing your idea, it is also about articulating how the investor is going to get a BIG return on investment (ROI).

I recently interviewed Andrew Forsdick from Addison Capital Advisors in Memphis TN. Addison Capital Advisors is a venture capital firm based in Memphis, TN focused on seed and early stage deals. Andrew gave me an interview and stated that he finds that all start-ups need financial accounting help. According to Andrew, “Entrepreneurs are good at coming up with ideas but are not good in articulating how the business is going to make money.”

I have read thousands of business plans that have this fatal error. Even the most experienced Executives sometimes have unrealistic forecasts and problems demonstrating a good ROI for investors. In reviewing your business plan, this is a hint of what is wrong with most business plans.

In my next post, I will discuss a good, structured deal that will attract VCs. Stay tuned!

NaShawn

Making Connections with Venture Capitalist

I recently read an article for entrepreneurs outlining all of the different venture capitalists in the US. The list contained a list for early seed investors as well as mezzanine rounds. After making some calls and making connections, I found out some valuable information.

What I did not know is that VC's have certain times in the year for investing. Some invest in the beginning of the year others invest based on their fiscal year. Bottom line, knowing the time of the year that VC's invest money can save a lot of time and help you coordinate launch times, presentations, and sales pitches.

Over the next couple of posts, I am going to include more information about making connections with VC's. Stay tuned for more information.

NaShawn

Balance Scorecard for AT&T

It has been quite a while since I blogged but I have been very busy with my classes. In my financial management class, I had to develop a balanced scorecard. The balance scorecard developed by Harvard researchers Drs. Robert Kaplan (Harvard Business School) and David Norton. According to the Balance Scorecard Institute, “The balance scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. In this case, I used the status of the wireless battle over the iPhone between Verizon and AT&T to map out a strategy to beat the competition.

Here is a link to the final project: http://www.box.net/shared/go5bt9eqll

FCC RELEASES NEW LOCAL TELEPHONE COMPETITION DATA. Third Collection to Comprehensively Include Interconnected VoIP

New competition telecom data

View more documents from NaShawn Branch.

The Real Reason Clients Need a Business Plan‏

Sales of 3DTV sets are off to a slow start

Less than 10% of the people who have heard about 3D television sets expressed interest in buying one, according to a Leichtman Research Group survey that found 80% of respondents were familiar with the technology. "With modest consumer demand for 3D-capable TVs, the potential growth of 3DTV will rely on a continued push of 3DTV by manufacturers and retailers, as well as the fact that about one-fifth of all U.S. households purchase a new TV each year," said analyst Bruce Leichtman.Click here to see the full article at Home Media Magazine

HOW TO RECEIVE A BROADCAST TV STATION IF IT IS DROPPED FROM YOUR PAY TV SERVICE.

Cable operators and other pay TV service providers, such as satellite operators, carry local television broadcast stations based on contracts with the stations. When these contracts end, the parties generally extend or renew these contracts. The process by which the contracts are negotiated is known as “retransmission consent.” In almost all cases, agreement is reached and stations continue to be carried without interruption. On some occasions, the pay TV service provider and the station fail to reach an agreement, and the pay TV service provider is required by law to stop carrying that station until an agreement is reached. These are private agreements, though federal law requires the parties to negotiate with each other in good faith.

What can I do if a local broadcast television station is no longer available on my pay TV service?(Click here) for the answer to this important question from the FCC.