10-20-30 rule is like twitter protocol for business pitch. 10 slides, 20 minutes, 30 size font makes the presenter articulate and saves investor’s time. If only some body can tell an investor/judge to shut up and listen for 20 minutes s/he will grasp the puport of 100 hrs of effort which a presenter has made in background to reach this stage. Essentially with a lot of bullshit being thrown on budding enterpreneurs somebody needs to teach ” Got rich quick” egoist investors some lessons of patient listening. Essentially 3 out of 4 investors we have met over last 6 months opened their trap before listening to the idea. One bugger said ..” Oh , you are trying to make an Indian Craig’s list. We said no.. The other sucker said – “ Main samajh gaya ..tum India mart banaa rahe ho”, Some other sucker said , ” tum Khali 1 service banao, Dosa becho ” Essentially , he meant just sell product. If only this asshole knew that there is a business case for Dosa somewhere and also for a Thai cuisine specailty resaturant.
Obsessed with their own success pattern , they are too myopic to see other business models working. Institutes like IIMA ,B, C…organize B Plan showcase and screen all contestants on the basis of Novelty of idea and also strength of team.
May I suggest a criteria of pre qualifying the panel members also. It can be as staright as : An immediate investible surplus of 1 crore or more and a capacity to shut up and listen to a business plan for 20 minutes before jumping to conclusions. For good enterpreneureship environment to flourish in the country not only the enterpreneurs but also the investors need to be taught some lessons in B Plan listening. Till then, probably there will be too many Lunias (who believe they are like a judge in Indian Idol) floating like turds. Business Plan contests will remain an academic exercise like Projects of 3rd yr students of 3rd rate Engg colleges. Great businesses will be created elsewhere.