Don’t pitch venture capital without answers
Many startups make the big mistake of getting excited about the bells and whistles of a product or technology they’ve created before vetting it. This list of 10 questions is from my experience with the folks at Seedstage Ventures, known for getting companies to get up out of the weeds and take the 50,000 foot view so they could approach venture capital firms with a successful pitch.
Have you answered these questions for your business proposition?
- Why are we here?
- Who are we?
- What do we do?
- Who will care and why?
- How many will care?
- How do we reach them and at what cost?
- How do we make money?
- Why are we unique?
- Does our team have relevant experience?
- How much money do we need and how far will it take us?
If you’ve done a strong business plan, these questions may look familiar. But if you haven’t, I hope you find the process of getting to the answers worthwhile.