Rapper-turned-businessman 50 Cent is killing it in the entrepreneurial world, and he is ready to listen to your sales pitches.
In a recent interview taken with Entrepreneur’s Tanya Klich
, Curtis “50 Cent” Jackson described the type of sales pitch he would be likely to respond to in an elevator.
Although Jackson is more widely known for his involvement in the hip-hop industry, his entrepreneurial successes have been noted. Jackson, whose net worth falls at $155 million
, has backed nearly a dozen startups including Vitaminwater, Hang w/, and most recently, FRIGO.
In the interview, Krich asked Jackson, “When in an elevator, what does 50 Cent want to hear?”
– First, he wants to know exactly how a consumer would relate to your product or service.
– He wants to know how and why the product or service would work in a realistic environment.
– Most importantly, 50 Cent needs to know your target audience.
It seems that 50 Cent is most interested in individuals who know exactly what they are talking about. He doesn’t have the time to listen to people with transparent startup ideas.
When Krich asks Jackson to further elaborate on the type of partners he would likely go into business with, he said:
– He wants to hear that you’ve done this before. He’s looking for individuals who are established, knowledgeable and experienced.
– He won’t be going into business with you if you haven’t been successful yet.
Jackson makes it pretty clear when considering partners that he’s not very secure with first-timers, but from an investor’s point of view, who is?