Startup Professionals Musings

APRIL 7, 2023

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 228

Elevator Pitch Salary Angel Investor Viral 228

Startup Professionals Musings

NOVEMBER 4, 2011

Build a prototype product. A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most angel investors expect to see at least a prototype before they invest. Remember to aim the content of both of these at investors, not customers.

Intellectual Property 249

Intellectual Property Angel Investor Technical Review Elevator Pitch 249

ConversionXL

JULY 16, 2021

This will help you gauge who your audience is and how to speak to them at every customer touchpoint. The point isn’t to complicate your content creation—it’s to ensure your messaging is aligned with the customer journey every step of the way. Figure out how your product uniquely fits into the market and drive that message home.

Audience 127

Audience Framework Differentiation Software Review 127

Gust

JULY 23, 2014

So even if my own mother asked me to meet with you, and you were pitching me a biotech opportunity for a $10 million investment at a $90 million valuation, I might take the meeting, but it wouldn’t be particularly useful for either of us. In this case, it’s not a lack of interest, just a lack of time and efficiency.

Angel Investor 153

Angel Investor Elevator Pitch Pre-Money Valuation Technical Review 153

Startup Professionals Musings

JULY 12, 2020

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 336

Elevator Pitch Salary Angel Investor Viral 336

Startup Professionals Musings

JUNE 26, 2020

For the rest of us, we need a business plan, as well as a product plan. Some of you may be convinced that your product specification communicates the product message even better than a business plan, so why be redundant? Use non-fuzzy terms to quantify customer value. Provide specifics on the customer business model.

Business Plan 423

Business Plan Product Intellectual Property Elevator Pitch 423

Startup Professionals Musings

JANUARY 26, 2012

An "elevator pitch" is a concise, well-practiced description of your startup and your plan, delivered with conviction and enthusiasm, that your mother should be able to understand in the time it would take to ride up an elevator. A good elevator pitch is not just for an elevator discussion.

Elevator Pitch 283

Elevator Pitch Startup Differentiation Distribution 283

Up and Running

APRIL 11, 2012

He defines the elevator pitch, video pitch, executive summary, PowerPoint presentation, and business plan as different forms. These suggestions are all excellent: Don’t spend too much of your time with investors talking about products and technology. Talk about solving customer problems. Do a bottom’s up analysis.

Business Plan 85

Business Plan Elevator Pitch Technical Review Due Diligence 85

Startup Professionals Musings

SEPTEMBER 23, 2010

Build a prototype product. A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most angel investors expect to see at least a prototype before they invest. Remember to aim the content of both of these at investors, not customers.

Angel Investor 224

Angel Investor Intellectual Property Technical Review Elevator Pitch 224

The Startup Magazine

JUNE 19, 2022

But since a majority of businesses receive dozens of sales presentations per day, gaining customer loyalty is more difficult than it sounds. And if you’re not sure how to reach your goals, these B2B sales tips that we prepared will help you reach the revenue and success you’re hoping for. Truly believe in your product.

B2B 138

B2B Sales Elevator Pitch Lead Generation 138

Startup Professionals Musings

APRIL 24, 2011

Your friends and family are really the only answer until you have a significant revenue stream. Practice every step, including the elevator pitch to get the first meeting. Use friends, family, and angels, if possible, to get a product, revenue, and customers first before the VC connection.

Venture Capital 233

Venture Capital Revenue Elevator Pitch Silicon Valley 233

Steve Blank

MARCH 8, 2011

It was designed to bring together many of the new approaches to building a successful startup – customer development, agile development, business model generation and pivots. Startups, are not about executing a plan where the product, customers, channel are known. Get Out of the Building and test the Business Model.

Lean 308

Lean Business Model Customer Development Guinea 308

Up and Running

MARCH 14, 2018

Share what’s unique about your product and how it will solve the issue you shared in the previous slide. Be realistic about who you’re building your product for and break out your market into TAM, SAM, and SOM. Your revenue or business model. Customer acquisition: Marketing and sales strategy. Your solution.

Hockey Stick 164

Hockey Stick Exit Strategy Technical Review Angel Investor 164

Startup Professionals Musings

FEBRUARY 19, 2018

To me, this is a logical step function, and confirmation that the right founders are always more important than the right product. Shy introverts may be great technologists, but they won’t be entrepreneurs until they learn to respectfully ask for funding, after nurturing relationships, and practicing their elevator pitch.

Elevator Pitch 215

Elevator Pitch Equity Revenue Differentiation 215

Up and Running

SEPTEMBER 26, 2018

Cash flow issues, the type where a company is bringing in plenty of revenue but is struggling to meet expenses can be really challenging for startups. Even big companies don’t do their market research due diligence every time when introducing new products. Get to know your customers. Identify success stories. What changed?

Elevator Pitch 242

Elevator Pitch Due Diligence Networking Venture Capital 242

Startup Professionals Musings

DECEMBER 8, 2017

Since this document is outward facing, it is important to keep the terminology and tone consistent with that of your customer set, investors, and business partners. This is your elevator pitch hook, which you must be able to deliver in 30 seconds. Professional investors look for the right people, more than the right product.

Elevator Pitch 163

Elevator Pitch Angel Investor Silicon Valley Revenue 163

Gust

OCTOBER 11, 2011

An “ elevator pitch ” is a concise, well-practiced description of your startup and your plan, delivered with conviction and enthusiasm, that your mother should be able to understand in the time it would take to ride up an elevator. A good elevator pitch is not just for an elevator discussion.

Elevator Pitch 174

Elevator Pitch Startup Differentiation Distribution 174

Startup Professionals Musings

MAY 31, 2014

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 285

Elevator Pitch Salary Angel Investor Viral 285

Startup Professionals Musings

AUGUST 27, 2012

Give the “elevator pitch” for your startup. Solution product & technology. Here is how and why it works, including a customer-centric quantification of the benefits. Here is how and why it works, including a customer-centric quantification of the benefits. Describe your technology patents and “secret sauce”.

Elevator Pitch 247

Elevator Pitch Exit Strategy Burn Rate Merger 247

Startup Professionals Musings

AUGUST 5, 2018

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 139

Elevator Pitch Salary Angel Investor Viral 139

Startup Professionals Musings

JANUARY 20, 2018

Here is my outline of key deliverables that could convince me that you are a cut above the “average” entrepreneur that approaches me with nothing but a dream and a prayer: Personal video introduction with elevator pitch. Pitch your company, not your product. Net out the problem and your solution in the first 30 seconds.

Elevator Pitch 164

Elevator Pitch Due Diligence Angel Investor Business Plan 164

Austin Startup

AUGUST 3, 2017

I want to understand who the customer is, what problem you solve, and how you do it. I want to understand who pays you and how you can quantify that your product saves them time or money. I want to understand who pays you and how you can quantify that your product saves them time or money. Do you have a minimum viable product?

Startup 69

Startup Technical Review Texas Email 69

OnlyOnce

JULY 9, 2013

The book has been described by a few CEOs who read it and commented early for me along the lines of “The Lean Startup movement is great, but this book starts where most of those books end and takes you through the ‘so you have a product that works in-market – now what?’ questions”. Chapter 27: Have You Learned Your Lesson?…The

Startup 95

Startup Advisory Board Elevator Pitch Forecast 95

Startup Professionals Musings

MAY 18, 2014

Here is my outline of some key activities that could convince me you are a cut above the “average” entrepreneur that approaches me with nothing but a dream and a prayer: Personal video introduction with elevator pitch. Pitch your company, not your product. Net out the problem and your solution in the first 30 seconds.

Entrepreneur 270

Entrepreneur Elevator Pitch Due Diligence Angel Investor 270

Startup Professionals Musings

AUGUST 8, 2016

By profit, I simply mean offering a product or service to customers for a price that exceeds the total costs associated with the solution, thus providing some basis for recovering sunk costs and generating a return for stakeholders. Solve a painful problem for customers who have money to spend.

Intellectual Property 120

Intellectual Property Entrepreneur Elevator Pitch Exit Strategy 120

Startup Professionals Musings

JUNE 10, 2011

Give the “elevator pitch” for your startup. Solution product & technology. Here is how and why it works, including a customer-centric quantification of the benefits. Here is how and why it works, including a customer-centric quantification of the benefits. Describe your technology patents and “secret sauce”.

Elevator Pitch 234

Elevator Pitch Exit Strategy Burn Rate Merger 234

Steve Blank

NOVEMBER 5, 2009

Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Are there customers for what you are building? How many are there? Can it scale?”

Customer Development 270

Customer Development Developer Customer Silicon Valley 270

Up and Running

FEBRUARY 12, 2019

If you employ these nine tips for taking a good pitch and making it great, you’re going to give the kind of pitch that stands out to investors, too. Tell a real customer story. When possible, open your pitch by telling a real customer story that addresses the problem your product or service solves in the marketplace.

Sweat Equity 122

Sweat Equity Churn Rate Elevator Pitch Forecast 122

Startup Professionals Musings

DECEMBER 24, 2012

Build a prototype product. A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most Angel investors expect to see at least a prototype before they invest. Remember to aim the content of both of these at investors, not customers.

Angel Investor 260

Angel Investor Intellectual Property Elevator Pitch Angel Groups 260

Eric Friedman

JANUARY 24, 2020

A real business, with real customers, real revenue and a flywheel that makes sense to the fintech innovation ecosystem. Everyone seems to have their elevator pitch down of themselves, their company, and what they are doing. Just take the recent acquisition of Plaid by Visa. If possible, try to have a meal with them.

Elevator Pitch 135

Elevator Pitch Valuation Revenue Early Stage 135

Startup Professionals Musings

JUNE 1, 2015

These are the only people likely to believe in newbies, with only minimal product evidence or business experience. This is confirmation that the right people are always more important than the right product. Tie re-payments to revenue growth in the startup. Offer a formal agreement as well as a handshake.

Sweat Equity 120

Sweat Equity Entrepreneur Elevator Pitch Equity 120

Startup Professionals Musings

JULY 30, 2016

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 120

Elevator Pitch Salary Angel Investor Viral 120

Startup Professionals Musings

MAY 19, 2010

Give the “elevator pitch” for your startup. Solution product & technology. Here is how and why it works, including a customer-centric quantification of the benefits. Here is how and why it works, including a customer-centric quantification of the benefits. Describe your technology patents and “secret sauce”.

Elevator Pitch 235

Elevator Pitch Exit Strategy Burn Rate Merger 235

Gust

AUGUST 19, 2012

Give the “elevator pitch” for your startup. Solution product & technology. Here is how and why it works, including a customer-centric quantification of the benefits. Here is how and why it works, including a customer-centric quantification of the benefits. Describe your technology patents and “secret sauce”.

Elevator Pitch 146

Elevator Pitch Exit Strategy Burn Rate Merger 146

YoungUpstarts

NOVEMBER 17, 2014

Your Executive Summary is your verbal elevator pitch. Your Solution – Use this to highlight the product or service you are building and why it will address the void you see in the market. Be clear about how you foresee your product or service being uniquely valuable to future customers. Understand Your Audience.

Elevator Pitch 154

Elevator Pitch Early Stage Venture Capital IP 154

Gust

DECEMBER 16, 2012

Build a prototype product. A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most Angel investors expect to see at least a prototype before they invest. Remember to aim the content of both of these at investors, not customers.

Angel Investor 179

Angel Investor Intellectual Property Elevator Pitch Angel Groups 179

Startup Professionals Musings

JULY 15, 2015

Here is my outline of key deliverables that could convince me that you are a cut above the “average” entrepreneur that approaches me with nothing but a dream and a prayer: Personal video introduction with elevator pitch. Pitch your company, not your product. Net out the problem and your solution in the first 30 seconds.

Elevator Pitch 120

Elevator Pitch Due Diligence Startup Angel Investor 120