Thanks so much for the well thought out comment and status update. The Haiku analogy really captures the flavor of the elevator pitch. It is about conveying something that embodies the essence of what you do and will intrigue the listener to want to learn more. It really is one of the best exercises I can think of for an entrepreneur to gain clarity in what he is set to do.

In the end all of our pitches and presentations are going to be shades of gray and degrees of understanding. Which points we emphasize will color perceptions depending on the audience. I talked to a few people after your fast pitch and almost everyone mistakenly concluded that you were in the consumer market.

That said, it is important to remember that the elevator pitch is about gaining interest rather than communicating everything about your business. What was communicated was that HauteSpot has a solid and intelligent team who is already making money with a product that has some potential. That is enough to get anyone interested in hearing more.

Your screening presentation allowed everyone to get a much better understanding of the company and the industry you work in. With the case studies it was plain that HauteSpot had done its homework and was positioning itself in the right place to succeed. With that in focus any savvy investors are going to want to investigate the real potential.

The intent of these exercises is to expose value and opportunity to the investor. Show them that you understand your own market and there is a reason they should be interested. You have done a great job getting to this stage and I am sure once you are able to let people really dig in, HauteSpot will get what it needs to capture its goals.

Please keep us updated, and good luck!

-Marty

First a comment on the Pitching Competition: The Tech Coast Angels have gone a long way towards helping entrepreneurs build up concise business summaries by supporting this pitch competition. It really does force you to drive to the core mission of your company and throw out irrelevant messaging.

The elevator pitch is the Haiku of the business world and sometimes trying to say more with less is difficult. For those of us who are long-winded poets (oxymoron) Haiku is a real challenge.

Frankly, I was very disappointed with my pitch and think that I completely failed to convey our core message in 60 seconds. But the process of constantly revising and refining the message helped me better understand what is important and what is not.

However, my opinion of my own presentation and how it was received by investors was completely contradictory. The investors seemed to get it.

As a result of the pitch competition, we had a large turn out at the Pasadena Angels screening event on Wednesday. At this event we could present our entire pitch, not just 60 seconds. This allowed context, particularly customer case studies, which drove our case home.

We made it past the screening to present to the Pasadena Angels membership last week. Again, our presentation resonated with enough members of the group that we are now moving on to the next step of due diligence. Still no guaranty of funding, but getting closer.

In summary, some companies can make their case in 60 seconds (“Women’s hair extensions are difficult to use and expensive. Our product is easy to use and inexpensive. Millions of women will buy our product” – 10 seconds). Whereas some companies have more complex technologies and business models which cannot be properly put into context in such a short time. Driving to 60 seconds forces you to distill your message, even if the end result is 10 minutes long.

To an extent we all work inside a bubble that is the world we must execute in. We know it like we know the back of our hand. The trick is remembering that other people don’t understand things the same way.

-Marty