Quote:
Originally Posted by econophile
yeah most of the presenters suck at negotiating and fairly often try to bring up some sob story as a justification for why the sharks should invest.
When you sell something, you need to always be presenting on how it will improve the life of the person you are selling to. No one really cares (especially not the sharks) if their investment will bail you out of your financial crunch or if it will put food in the mouths of your children. If you are selling to someone, only mention how investing in your company will make them an excellent return on their money and how quickly this will happen.
I'm shocked that so many people who have actually gotten a business to a good position don't even know the BASIC rules of selling. It's a business negotiation and not a plea for charity.
Saying that you need this investment because you and your wife/husband are both without a job and have 2 kids to feed at home actually lowers your bargaining power.
I might sound insensitive (I DEFINITELY sound insensitive) but every time I see the sharks ask a person flat out: "Why should I invest in your company?" and the person says because they just lost their other real job and really need this money right now, I burst out laughing because I know that any girl scout selling cookies would have given a better answer than that!