Pitching ideas to investors is an intense process that can confound even the most ambitious entrepreneur. Throughout his career, Jay Lichter, Ph.D., has been on both sides of the investment table. The San Diego Business Journal asked Dr. Lichter to draw from his experience as managing director of Avalon Ventures and president and CEO of COI Pharmaceuticals to provide some advice on avoiding common pitfalls when pitching investors.
According to Jay, the top six mistakes made when pitching investors are:
- You can’t summarize your idea into 50 words
- Your professional network, and therefore credibility, is limited
- You don’t demonstrate clear understanding of the effort needed to bring a drug to market
- You overvalue and underappreciate the cost and duration of completing the proposed program
- Your product won’t make a meaningful impact on unmet medical needs
- You have not clearly differentiated your idea from what already exists
Read more as Dr. Lichter elaborates on these points in The Startup Page of the San Diego Business Journal. (Subscription required to access).
The post Jay Lichter Shares Words of Advice in San Diego Business Journal: What to Avoid When Pitching Investors appeared first on COI Pharma.