4 Seconds to Success when Raising Money
Last night I played a new album – the first track started and I listened – it was a great track. The next started and almost instantly, I knew I didn’t want to listen to that track, so jumped to the next.
That got me thinking…how can you know, in just a few seconds, you’re not going to like something?
Somehow – you just do, right?
And do you know what’s stranger than that?
More often than not, your first impression was correct!
If you go back and listen to that skipped track – you’ll probably find it really wasn’t worth your time.
That reminded me of one of the first things I was taught when I started within the brand management (marketing) group at Procter & Gamble – it was a simple lesson that just about everyone (especially within the internet marketing space) either consciously or unconsciously appreciates.
“You have four seconds to make a Great Impression”…
Now to Procter & Gamble that meant the product packaging needed to convince the consumer that they needed and wanted that product within four seconds…
If the product couldn’t do that then it would fail. Clear and simple.
They came up with data driven ways to determine if the product met that four second rule.
Now consider a web page – the ads ( and the whole site itself) are designed to hit the target audience and convince them within just a few precious seconds.
The human mind moves on after those precious four seconds IF its not convinced.
Consider dating – don’t you just know, as soon as you meet someone, if there is going to be some chemistry between you?
Another example – My Father used to tell me that a person’s shoes were critical for making a good first impression – if they looked a mess they said something about the person who wore them – and they were almost the first things you saw. (there’s that four seconds again…)
So what does any of this have to do with raising money or getting an investor for your business or Startup?
Well – it’s critical to consider because…
By all means spend hours on the business plan, the executive summary, the powerpoint slides and the financials and all the other things you are building for yourself, your business and your target investors…they will probably be invaluable as you build your business…
But know this…
The first four seconds when meeting an investor could (and probably do) significantly impact your ability to close that investor.
Ughh – does that mean its all…chance?
No – absolutely not!
Just like anything else – you can put your best foot (or shoe 🙂 ) forward and optimize the likelihood of success.
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