Pitching To Angel Investors
Today I went to the February meeting of the Boston Harbor Angels, an angel investor group that meets here on the Babson campus. It was great to see one of our Fast Track MBA graduates pitch for his new business, Textaurant.
The concept is a text messaging system for those patrons waiting for tables at mall restaurants who don’t take reservations. The text would replace the glowing vibrating devices that we receive when we have to wait for a table- which usually means we cannot go very far from the restaurant. With Textaurant’s system, patrons can wander through the mall, shop and do other things while waiting for a table.
I particularly liked the way that the founder, Joshua Bob, carefully segmented the market, then identified the competition and convincingly showed the economic benefits to the restaurants, and time benefits to customers. Notably, Joshua carefully answered all the questions posed by potential investors. At the end of the presentation, it was clear that Joshua was not only on to a good business opportunity, but also he was coachable and capable of taking the idea forward.
He is definitely a good role model for our Babson students!
Candida G. Brush, Professor of Entrepreneurship
Paul T. Babson Chair in Entrepreneurship