Page 355 - James Caan - The Real Deal

34 · Getting the Most out of the Den

surprised at how little effort some people put into their appear-
ance. We’re all smartly dressed: I think that means there’sa
message in that. If you turn up and you’ve not made an effort,
what impression does that give?
The next thing to do to get the most out of your trip to the Den
is to learn and rehearse your presentation thoroughly. Normally if
you’re fundraising you talk to one investor at a time. In the Den,
you’re facing five of us, so really a visit to the Den is worth
rehearsing five times more than you would for any other pitch.
And, of course, it’s actually not just us you want to impress; it’s
the viewers, too, because even if you don’t get investment you
might reach potential customers. So rehearse, rehearse, rehearse:
it’s the best way to deal with your nerves.
I reckon only about 15 per cent of people who come into the
Den give a good account of themselves. We sit through a lot of
pitches that are unfocused and can occasionally feel like a waste
of our time: if you come in and are professional and pleasant, then
you’ve got our attention and you’ve actually gone quite a long way
to being taken seriously.
The next piece of advice is probably the most important: know
your numbers. And if you don’t know your numbers, don’t be shy
about bringing someone with you who does. Rather than waiting
until you’re stumped and having to ask your numbers expert to
join you, I think you’re better off coming into the Den together
and showing us that you’re a team. Make sure you rehearse
together, too: if you’ve seen the show, then you’ll know you’re
going to be grilled about your figures. Ask each other to go
through them backwards and sideways – you should know your
year two projections as well as your month two figures.
I’ve been surprised how often someone will finish their presen-
tation and I still won’t understand what their product or service
does! With new inventions, it can be particularly difficult for us to
work out who it’s for, what it achieves and why it’s useful, so a

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