WHEN PITCHING YOUR START-UP TO STEVE BAXTER, DON’T USE THE WORD ‘GIVE’

‘Give’. It’s the four-letter word that makes Steve Baxter’s blood boil when he’s being pitched to by a start-up in search of capital. The investor, tech entrepreneur and Shark Tank star discussed his pet peeve at Intuit QuickBooks Connect Sydney 2017, earlier this month, during an entertaining and candid interview with event MC Rove McManus.

Asked by the comedian and TV presenter whether it was important, as a start-up investor, to say ‘no’, Baxter said the word was his ‘default’ position. He explained, “I’m going to sit there during the pitch and say ‘no’ until you can prove to me that it works. The thing that really pisses me off when people pitch is if they use the word ‘give’ ‘give me money’. Continuing, he had stern words for start-up founders heading into a pitch: “Let’s just understand the commercial transaction that’s happening here – you have to pitch . You’re a sales person, you need to convince me to buy it”.

Nevertheless, Baxter admitted he had said ‘no’ to ideas he thought wouldn’t fly only to discover they were generating significant money and had a sizeable consumer base. He added, “I’m one opinion. Traction trumps opinion every time. It doesn’t matter what an old man thinks. What matter…is a customer taking their wallet out and buying your product. Never accept an opinion from someone who’s not a customer.” Read more

James Harkness - Dynamic Business - 30 May 2017