Corrections or additions?
This article by Kathleen McGinn Spring was prepared for the
September 26, 2001 edition of U.S. 1 Newspaper. All rights
reserved.
To Impress VCs Don’t Be Too Slick
You have a great product or service, an excellent
business
plan, and — thanks to your rich uncle’s huge infusion of cash
— a powerful marketing plan that has led to substantial sales.
But don’t think you can now walk up to the venture capitalists (VCs)
with your hand out.
In fact, that large amount of money spent on marketing may cause the
VCs to wonder if your sales really reflect the true value of the
product
or service. “Venture capitalists like to see sales,” say the
organizers of the New Jersey Entrepreneurial Network’s meeting on
Wednesday, October 3, at the Doral Forrestal, “But they don’t
necessarily want to fund multi-million dollar marketing budgets. If
you want to attract the attention of outside investors, you must be
able to generate sales creatively and inexpensively.”
The speaker at the October 3 meeting is Joe Allegra, co-founder
and CEO for 10 years of Princeton Softech and now a venture partner
with the Edison Venture Fund. His subject: “Guerrilla Marketing
Tactics that VCs Want to See.” The meeting runs from noon to 3
p.m. Pre-register for $35 by Friday, September 28. Or pay $45 at the
door. Register at 609-279-0010 or E-mail rfrawley@sswhb.com
The October 3 meeting notice notes that guerrilla marketing can range
from honoring the discount coupons of competitors to getting free
editorial coverage of your business. It is “achieving conventional
goals with unconventional methods, such as investing energy instead
of money. It has been proven to work for small businesses because
the concept is simple to understand, easy to implement, and
inexpensive.”
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