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Startup CEO (OnlyOnce- the book!), Part III – Pre-Order Now

OnlyOnce

Chapter 2: Defining and Testing the Story…Start Out By Admitting You’re Wrong, A Lean Business Plan Template, Problem, Solution, Key Metrics, Unique Value Proposition and Unfair Advantages, Channels, Customer Segments, Cost Structure and Revenue Streams. Chapter 3: Telling the Story to Your Investors…The Business Plan is Dead.

Startup 95
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Traction Metrics Seed Real Startup Funding And Growth

Startup Professionals Musings

Build an inside advisory board of influencers and experts. If Bill Gates has agreed to be on the board of your software startup, that’s major traction, even with no paying customers. It’s never too early to build relationships with industry analysts, influential bloggers and the media, and show how these have grown over time.

Metrics 143
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10 Answers That Make Your Startup Plan Investable

Startup Professionals Musings

You need to identify pricing details, sales channels, strategic partners and a customized marketing plan consistent with your industry and target segment. Include advisory board member qualifications and key industry connections. What are your specific marketing and sales plans? Highlight elements of traction you already have.

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What Do I Do Now? The Startup Lifecycle

Steve Blank

You’ll realize you’re ready to exit the Search step when you have customer validation: You’ve found a sales channel that matches how the customer wants to buy and the costs of using that channel are understood. If he already had an advisory board (formal and/or informal), add CEO’s who have been through this phase.

Startup 120
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8 Tips For Quantifying Traction In Your New Venture

Startup Professionals Musings

Assemble a credible inside advisory board and partners. These would include cost of customer acquisition, cost of leads, sales channel, cost of goods, and pricing strategy. Relationships with recognized and influential bloggers, relevant media, and industry analysts are priceless.

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How much equity do I give an advisor? What do they give me?

The Startup Toolkit

Those numbers get completely thrown out when the advisor is your distribution channel. if the company is sold, they get their entire stake immediately, whereas the founders often have to start a new vesting period in the terms of the acquisition). Don’t rush to “fill” your advisory board.

Equity 46
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Building Great Founding Teams

Steve Blank

(However, in some industries such as life sciences, founders may be tenured professors who are not going to give up their faculty positions, so they often become the head of a startup’s scientific advisory board, but aren’t part of the founding team.). A couple of caveats about founders with “ideas.” FIgure out who you are.

Cofounder 335