Teruel Carrasco - president of Valhalla Private Capital, co-founder of Radar Endeavour Group Inc and CEO of Lending Assist - has delved into the importance of data when pitching a business to investors.
“What I find to be successful pitches is ones where there's a story, but most importantly it's when they talk about the business versus a pitch that just is centered around the product,” Teruel began.
With expertise in business development and overall strategies within startups alongside established companies, Teruel maintains that many startups fall for the folly of “creating a solution and then going to look for a problem”.
On the topic, he continued: “Investors want to know that they're basing their investment decisions on many factors including the ability for the founder to execute on the promises and statements that they make.”
This can be achieved by reinforcing the potential success of a market solution through focusing on data and research which establishes a gap in the industry.
Teruel claims that including this data-led research can make for “a much more compelling pitch” than one which is “just centered around how great the solution is”.
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