“As a rule, we find what we look for; we achieve what we get ready for.”
~ James Cash Penney
Several years ago, a very interesting experiment was conducted.
In the off-season, a basketball team was split into 3 groups for a month. The first group practiced shooting free throws for 30 minutes per day. The second group didn’t practice shooting free throws at all. The third group also didn’t physically practice shooting free throws at all, but this group spent 5 minutes per day visualizing themselves shooting free throws and getting them in the basket.
The results: The first group improved their free throw shooting by 24%. As one might expect, 30-minutes a day of practice led to improved performance. The second group had a 0% average improvement. Once again, as you would expect, by not practicing, the players didn’t improve their performance.
The most interesting result was the third group, who increased their free throw shooting by 23%. This group improved performance by virtually the same amount as group one. And they didn’t even take a single practice shot. And, they only spent 16% of the time (5 minutes visualizing vs. group one’s 30 minutes of actual practice) trying to improve.
Now, I’m not saying that people should never physically practice things to get better at them. No, real practice is essential to success. But, when you add visualization, your success can go through the roof.
Visualizing yourself achieving success is also known as “mental rehearsal.” And mental rehearsal has been proven to improve performance in a variety of situations from job interviews to presentations to sales calls to athletic performance.
And the big one I want to focus on is presentations. Contrary to what most entrepreneurs want to believe (most want to believe they can simply send an email to an investor and receive a funding check in return), no one is going to invest in your company without first meeting with you.
And when you meet with them, you want to go through a well thought-out and delivered presentation that explains what your company is, why it’s exciting, and why they should invest now.
To succeed in this endeavor, the entrepreneur must first create a compelling slide presentation. Then, they must practice giving the presentation over and over to increase their fluency and comfort giving the presentation.
And finally, as we learned with the free throw shooting experiment, the entrepreneur must mentally rehearse the presentation. They must visualize themselves giving the presentation, and having the investors nodding in agreement, and ending the meeting with the desired outcome (e.g., the investor writing a check to you).
Forget Old School!
The “old-school” way of raising venture capital is DEAD!
And that’s why I created this page for you… to show you how to do it right.
There’s a common mistake almost every entrepreneur makes… and if you approach venture capitalists like most entrepreneurs, you’ll NEVER get funded.
Today’s Question: What was Yahoo! originally called?
Previous Question: What product that makes unpacking fun was invented by sealing two shower curtains together by two engineers who intended it as wallpaper?
Answer: Bubble Wrap.
When the product turned out to be unsuccessful as wallpaper, it was marketed as greenhouse insulation.
Although Bubble Wrap was branded by Sealed Air Corporation in 1960, it was not until a few years later that its use in protective packaging was discovered.
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