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10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

Don’t let your passion convince you that word-of-mouth and viral marketing will suffice against well-funded competitors and ever more demanding customers. Scale your funding requests to the value of your startup today, consisting of assets, contracts, and intellectual property you currently own.

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10 Entrepreneur Comments That Kill Investor Deals

Startup Professionals Musings

It’s always painful when a startup fails, but as a mentor to founders, I would hope that you can learn from these failings and not stumble on the same issues. In most cases, viral marketing only begins to work after you prime the pump with several million in real marketing over a couple of years. If we build it, they will come.”

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10 Startup Mistakes You Can't Afford To Make Again

Startup Professionals Musings

The good news is that everyone expects entrepreneurs to make mistakes, since founders explore uncharted territory. In fact, investors recognize that founders usually learn more from mistakes than from success, so a well-explained startup failure can improve their odds of funding the next time around.

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Ten Common Arrogance Traps for Startups to Avoid

Startup Professionals Musings

It’s always painful when a startup fails, but as a mentor to founders I would hope that you can learn from these failings and not stumble on the same issues: “Business plans are for dummies.” In most cases, viral marketing only begins to work after you prime the pump with several million in real marketing over a couple of years.

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Ten Quotes That Indicate Your Arrogance is Showing

Startup Professionals Musings

It’s always painful when a startup fails, but as a mentor to founders, I would hope that you can learn from these failings and not stumble on the same issues. In most cases, viral marketing only begins to work after you prime the pump with several million in real marketing over a couple of years. If we build it, they will come.”

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7 Team Attributes That Can Make Any Idea Come Alive

Startup Professionals Musings

Similarly, mentioning viral marketing without specifics won’t assure fundability. Some founders are so passionate about their solution that they forget to lead with an explanation of the customer value equation. Investors like to see new intellectual property as a barrier to entry. Focus on customer needs.

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6 Reasons Starting Another Dating Site May Be Tough

Startup Professionals Musings

So sites have to invest heavily in viral marketing to achieve critical mass, which competes with current social networks, while users expect to join both for free. Intellectual property is tough. Plan to focus on that other popular tier of investors – founders, family, friends, and fools.