MBA students pitch business idea to Secret Millionaire
Wednesday 18 January 2017
Coventry University London Campus students studying MBA Global Business Management pitched their business ideas to a panel of industry experts which included Channel 4’s Secret Millionaire, Mike Greene.
The entrepreneurial judging panel also comprised of Intellectual Property Specialist Philip Partington, Director of the Business Funding Show Arina Osiyannaya, and Business Growth Coach David Studd. The judges marked students on their business plans, business feasibility and presentations to select an overall winner of “Best Pitch”.
This competition was an excellent way for MBA students to put theory into practice and to develop their entrepreneurship skills further. In addition, they had the opportunity to pick up a few pieces of advice on pitching a business plan from Mike Greene.
When asked what advice Mike would offer students, he gave valuable insight discussing the most effective way to create a visual for a presentation. He stressed the importance of a strong headline and the use of key facts to deliver a clear message to prospective investors. He encouraged students to not leave the financials to the end of a business presentation saying:
“However great a product or service is the numbers need to work for an investor to progress".
Mike also advised that people will often invest in people first and a great concept second. He therefore emphasised the importance of building a credible team of staff and to offer insight into a team’s ability to deliver. Mike discussed the value of proof of concept and encouraged the presentation of a sample product or a third party endorsement to strengthen a business case.
Before closing, Mike discussed the role of “An investment Return” and an “Exit plan” during a business pitch before offering some final words of encouragement to the budding entrepreneurs. Mike said:
“Be enthusiastic and passionate; I have never met a successful entrepreneur who wasn’t passionate and obsessive about their business.”
For more information on entrepreneurship at Coventry University London Campus see here.