After getting to know each business idea, Miguel presented himself – an electronic and computers engineer, with an M.B.A. and a masters in internationalization strategy – and his work experience – as a consultant, financial analyst, account manager, senior analyst, and now an investment director tourism BU.
Miguel brought much knowledge to share and discuss, as well as common mistakes on the product, the business plan and the pitch to investors; but first, Miguel started by sharing some knowledge from other entrepreneurs, customers and investors. Here are some tips that you want to follow:
- Find the pain! Don’t create a product that is a solution-looking-for-a-problem!
- Don’t work internally, don’t look at your belly! Pitch to your non-business-related friends to see if they understand what you are pitching… In fact, what differentiates you from your competitors is what others think is your differentiator.
- When pitching to an investor, don’t think, show the data!
- Do a business plan that is simple and adapted to your audience. It just has to simply answer to the who, what, when, why, and how.
- Focus on next practices, rather than best practices.
To end his talk, Miguel talked about the investment process in Portugal Ventures, their startup portfolio, partners, clients, and how to be a good candidate for their investment.
Miguel dedicated the rest of the day to one-on-one meetings with each startup, making this a day of valuable learning!