This is his own tips on how to hijack investor money.
– I am sure of one thing. The new revolutionary ideas do not come from me, Stein Erik Hagen or Christian Ringnes. They come from young innovative people who will change the world, says Petter Stordalen.
DN has asked several prominent investors from Norwegian industry about their experiences in the industry, what they look for when they make investments and their best tips how entrepreneurs should sell themselves to potential investors.
DN has asked several prominent investors from Norwegian industry about their experiences in the industry, what they look for when they make investments and their top tips on how entrepreneurs should sell themselves to potential investors. These cases will be published in the coming weeks.
1. Jan Petter Sissener
2. Hilde Midthjell
3. Petter Stordalen
4. Jon Von Tetchner
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In his autobiography, “I’ll tell you my secret,” promised Stordalen out one million crowns to the entrepreneur who pitched him the best idea . That promise he stands firm on.
– I will be involved in building up new Norwegian companies. I think we’ve gotten into nearly a thousand ideas now and in September I’ll choose a winner, he said.
READ ALSO: Convinced investors and made off with 1.3 million
Concerned people
Stordalen is quite clear about what he looks for when he will make the investment. The first and by far the most important for him is the people behind, because there are those who represent the idea or company.
– That’s what those who have the key success criteria for business: ownership of the idea, knowledge of the market and competitive situation and not least – implementation force. The most important thing is to have the ability to realize the vision, he said.
He has several tips to entrepreneurs who want to sell themselves to potential investors. The first thing you should do is according Stordalen trying to familiarize themselves with the counterparty reality. It is also important that the pitch is precise and concise.
– Klin right away and say first things first – this is the case study, this is the economy and this is the goals we should now. Are you using for a long time you have already lost. You often get just 10-15 minutes, he says and continues:
– Experienced investors read new cases constantly. Ask them to read 25 pages of text to get to the point, harbors guaranteed in the garbage. Tell me instead: where are we, where are we and when we are there.
READ ALSO: No envy you entrepreneurial life before the first one million are served
for he is all the process of seeing past the amazing spreadsheets and projections that are presented because they are almost always shows a fantastic return and none of the reefs in the sea. His task will be to look ahead and draw up its own image of how the project will evolve.
– To me it boils down to three crucial factors. I like people, I believe in the idea and the solution economically sustainable. If the answer is yes to all these factors, I turn to, he said.
– Things take time
Some things he is always prepared – that things always take longer than planned and that one should use “Pi-rule” when investing in a start up or technology companies. This means that he times the cost of Pi, ie 3.14, and shares revenue with Pi. If it still looks promising one has a reasonable margin, according to Stordalen. As established investor prefers to invest in a later phase of a company’s life, to have more security.
– I’d rather be study your supervisor when you come in teens than being a midwife assisting during labor , to put it that way. Exercise is happy to shuffle the cards and see established companies in a new light, he said.
Read more entrepreneurial fabric on dn.no/grunder
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