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3 min reading time
I sat through a terrible pitch last week. Too bad he didn’t watch this 10x video first: http://medgroup.biz/med-device-pitch
Crystal Research’s Jeffrey Kraws’ comments stuck with me. He said, “Assume I already know this:
• I already know you’re going after a large medical market with unmet medical needs.
• I already know you think you have the best medical doctor out there on Planet Earth and he’s the world’s expert in this area.
• I also know your management team has gazillions of years of experience and are the best at everything they do and have a proven track record and have done this.
• I also know you have strong IP.
• I also know you’re going to do this at a cheaper cost than anybody else.
• Faster, better, and oh my God, do you know that company A and company B got sold for this much? Their stuff is crap. Our stuff is the real deal. We got all that.
I hear that everyday all day long.”
His overarching points: Anticipate his questions. Answer succinctly. Say “I don’t know, I’ll get back to you,” when you don’t know. Then get back to him.
Also on the panel,
• Rick Baron, former Globus Medical CFO now working with Zyberna Pharmaceuticals, explained that as soon as he closed a round his next step was to start the following round.
Definitely worth watching and you can download the transcript at http://medgroup.biz/med-device-pitch.
For discussion, do you have lessons learned about pitching to share with the group?
Jeffrey Kraws will present “Raising Capital” at our next 10x event (May, San Diego). See http://medgroup.biz/About-10x to meet him.
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P.S. We’re serious about moving the Medical Devices Group off LinkedIn. To stay involved, register at http://medgroup.biz/MOVE
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Trina L. Schneider
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