When I was in the Boy Scouts I learned that my motto was to: “Be Prepared.”

About 2 weeks ago, I particpated in a Funding Universe LivePitch event in Sandy. The positioning to aspiring entrepreneurs was:

Come pitch your idea to a panel of local experts, to get feedback on presentation, or recruit /hire, or to build partnerships. If you do not wish to present come and be a part of the audeince and network with others entreprenuers and businesses.

Funding Universe picked 5 companies to pitch to the audience and this panel of judges:

Steve Grizzell: Innoventures Capital
Dan McPhun: Park City Angels
Jeremy Hanks: Founder and Chairman of Doba
Mark Bonham: Ray Quinney and Nebeker
Kent Thomas: CFO Solutions and member of Olympus Angels

One of the dynamics with these events is that you only get 7 minutes to pitch your business.

It was also billed as a great networking event, and my guess is that all told, about 100 people showed up.

I really enjoy helping with events like this. Helping entrepreneurs is one reason I try to do this blogging thing. Having said that, I’m a pretty busy guy. I know the other 4 judges, and I know all of them are busy too.

I have to be honest. The 5 companies that presented didn’t listen when they were scouts. In my opinion, they could have all done more to be better prepared with their presentations (especially to pitch their business in only 7 minutes). I really don’t think any of them practiced before hand with the time limit. If they had been more prepared, the feedback the panel gave them would have been more valuable than: hey, work on your presentation.

If you want to be an entrepreneur, you have to invest A LOT of your time so that when you have the chance to use other people’s valuable time to help you further your efforts you: a. get something valauble in return, and most importantly, b. you don’t waste someone else’s time.

My time there definitely wasn’t a waste. It was fun, it was great to meet some new people, I enjoyed giving feedback to the presenting entrepreneurs, and Funding Universe did a super job in putting it on. Just saying to “Be Prepared.” One of my favorite quotes is:

“Luck is what happens when preparation meets opportunity.”

My guess is that Boy Scouts are luckier as a group compared to others (at least if they follow their motto).

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