Most technical entrepreneurs I know demand the discipline of a product specification or plan and then assume that their great product will drive a great business. Serious investors, on the other hand, look for a professional business plan or summary first and hardly ever look at the product plan. Is it any wonder why so […]
The common reason given for operating a startup in stealth mode is that this prevents any competitor from stealing their idea and beating them to market. This paranoid approach costs them much more than the risk of being open.
Now may be the time to start or transform your business into a recurring revenue engine with subscriptions, or just add an option to get some extra sales growth. But be aware, these models bring with them a whole new psychology of selling, supporting, and measuring your success with customers. Do your homework before jumping in with both feet.
The last thing a new entrepreneur wants to think about for a new startup is how it will end. Yet one of the first things a potential equity investor asks about is your exit strategy. The answer you give can make or break your ability to get an investment, so you need to have the […]
Every entrepreneur I know has their favorite excuse for a previous failure – an investor backed out, the economy took a downturn, or a supplier delivered bad quality. These things outside your control do happen, but based on my years of experience as a startup advisor and angel investor, I still see too many strategies […]
I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs.
Even though the color of their money is always green, all startup investors are not the same. Struggling entrepreneurs are often so happy to get a funding offer that they neglect the recommended reverse due diligence on the investors. Taking on equity investors to fund your company is much like getting married – it is a long-term relationship that has to work at all levels.
The average length of a funding pitch to angel investors is ten minutes. Even if you have booked an hour with a VC, you should plan to talk only for the first fifteen minutes. The biggest complaint I hear from fellow investors is that startup founders often talk way too long, and neglect to cover […]
Founders – if you can’t get the message across in ten minutes, more time and more charts won’t help.
Survival and success are both about doing the right things, and not about doing everything.