To save yourself time and increase your chances to generate interest and raise capital for your start-up idea you need short and sharp answers to the questions outlined below. See it as a straight forward and quick guide to think through in regards to the core aspects of your start-up. You would be surprised to know how many founders we have met who cannot convincingly answer these questions. Good luck!
Who are in your founding team, executive team and board /advisors? What’s their expertise and contribution and commitment do they have to the start-up?
What is your company’s clear purpose and what problem do you solve – What is your elevator pitch? Practice it!
Who are your specific customers and market segment – what are their pain points and your company’s clear value proposition to address these challenges?
What is the market size, past and future growth and reason for the growth?
Why is the timing right for your venture right now?
How do you describe your product/service and its potential IP [Intellectual Property]? What is your product/service development roadmap?
Who are your competitors and what are your competitive advantages?
What is your business model, go-to-market and revenue models, pricing, average customer size, sales pipeline and targeted customer list?
What is your go to market strategy, sales approach and digital marketing strategy?
How does your financial overview look? (balance sheets, P&L statements, cash flow, amount of financing you are seeking and capitalization)
What is your vision for the business and how do you make sure to get there?
Where do you see yourself in 3 years and what motivates you?
If you have any questions don’t hesitate to ask. Best of luck.