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Raising Money Using Customer Development

Steve Blank

Unfortunately in early stage startups the drive for financing hijacks the corporate DNA and becomes the raison d’etre of the company. Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. The goal of their startup in this stage becomes “getting funded.”

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5 Lessons from 150 startup pitches

A Smart Bear: Startups and Marketing for Geeks

I just reviewed several hundred startup pitches for Capital Factory. Most were on paper and video; 20 were invited to pitch in person. No significant route to customers (coming soon.)? We've all heard of the elevator pitch, but when asked to produce it almost no one succeeded. Stay tuned!

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8 Startup Gaps That Will Frustrate Funding Efforts

Startup Professionals Musings

That story has to begin with a painful problem shared by a large collection of viable customers, with your competitive solution. Additionally, you need to be able to communicate the essence that story and value to investors in a couple of sentences – your elevator pitch. angels entrepreneur funding gaps process startup'

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Top Eight Reasons Startups Don’t Get Money

Startup Professionals Musings

That story has to begin with a painful problem shared by a large collection of viable customers, with your competitive solution. Additionally, you need to be able to communicate the essence that story and value to investors in a couple of sentences – your elevator pitch. Tags: entrepreneurs funding startups business.

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10 Keys To Limiting Your Startup Story To Ten Minutes

Startup Professionals Musings

The average length of a funding pitch to angel investors is ten minutes. The biggest complaint I hear from fellow investors is that startup founders often talk way too long, and neglect to cover the most relevant points. If you start by pitching your extended life story, that’s the wrong point. Don’t forget to ask for the order.

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10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

A business plan is the outward facing definition of the business you hope to drive with your hardware solution, with a hardware overview in the intro to highlight customer value and competitiveness. Use non-fuzzy terms to quantify customer value. Provide specifics on the customer business model.

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Will Your Startup Get Venture Capital or IPO in 2013?

Startup Professionals Musings

Based on the final report for 2012 from Thomson Reuters and the National Venture Capital Association (NVCA), it may appear that IPOs are back as a viable startup exit strategy. Angels are also moving up-stage, leaving a bigger and bigger black hole for new startups. Remember you only have one chance for a good first impression.