Startup Professionals Musings

APRIL 7, 2023

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). Building a huge inventory before you have a confirmed customer is not a convincing strategy. Make your focus and priorities clear.

Elevator Pitch 228

Elevator Pitch Salary Angel Investor Viral 228

Startup Professionals Musings

JANUARY 11, 2021

Shy introverts may be great technologists, but they won’t be entrepreneurs until they learn to nurture relationships with friends and family, practice their elevator pitch and respectfully ask for funding. Tie re-payments to revenue growth in the startup. Offer a formal agreement as well as a handshake.

Sweat Equity 346

Sweat Equity Elevator Pitch Equity Venture Capital 346

Gust

JULY 23, 2014

So even if my own mother asked me to meet with you, and you were pitching me a biotech opportunity for a $10 million investment at a $90 million valuation, I might take the meeting, but it wouldn’t be particularly useful for either of us. In this case, it’s not a lack of interest, just a lack of time and efficiency.

Angel Investor 153

Angel Investor Elevator Pitch Pre-Money Valuation Technical Review 153

Startup Professionals Musings

NOVEMBER 4, 2011

Remember to aim the content of both of these at investors, not customers. They must amplify your “elevator pitch” to investors, as well as key points from the business plan and the financial model. Close at least one initial customer. Prepare an investment-grade business plan. Free trials don’t count.

Intellectual Property 249

Intellectual Property Angel Investor Technical Review Elevator Pitch 249

Startup Professionals Musings

JULY 12, 2020

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). Building a huge inventory before you have a confirmed customer is not a convincing strategy. Make your focus and priorities clear.

Elevator Pitch 336

Elevator Pitch Salary Angel Investor Viral 336

Startup Professionals Musings

MARCH 2, 2020

In addition, creating a business requires leading and interacting with other people, including partners, investors, and customers. Aspiring entrepreneurs are often impatient in rolling out the business, assuming the hard work was finalizing the idea, and that if you build it, customers will come.

Elevator Pitch 315

Elevator Pitch Cofounder Dividend Leadership 315

Startup Professionals Musings

APRIL 24, 2011

Your friends and family are really the only answer until you have a significant revenue stream. Practice every step, including the elevator pitch to get the first meeting. Use friends, family, and angels, if possible, to get a product, revenue, and customers first before the VC connection.

Venture Capital 233

Venture Capital Revenue Elevator Pitch Silicon Valley 233

Startup Professionals Musings

JANUARY 26, 2012

An "elevator pitch" is a concise, well-practiced description of your startup and your plan, delivered with conviction and enthusiasm, that your mother should be able to understand in the time it would take to ride up an elevator. A good elevator pitch is not just for an elevator discussion.

Elevator Pitch 283

Elevator Pitch Startup Differentiation Distribution 283

The Startup Magazine

JUNE 19, 2022

But since a majority of businesses receive dozens of sales presentations per day, gaining customer loyalty is more difficult than it sounds. And if you’re not sure how to reach your goals, these B2B sales tips that we prepared will help you reach the revenue and success you’re hoping for. Focus on OKRs. Truly believe in your product.

B2B 143

B2B Sales Elevator Pitch Lead Generation 143

Up and Running

APRIL 11, 2012

He defines the elevator pitch, video pitch, executive summary, PowerPoint presentation, and business plan as different forms. Talk about solving customer problems. Do not estimate revenues as a percentage of the market. Which customers will buy how much of your product. Do a bottom’s up analysis.

Business Plan 85

Business Plan Elevator Pitch Technical Review Due Diligence 85

Startup Professionals Musings

SEPTEMBER 23, 2010

Remember to aim the content of both of these at investors, not customers. They must amplify your “elevator pitch” to investors, as well as key points from the business plan and the financial model. Close at least one initial customer. Prepare an investment-grade business plan. Free trials don’t count.

Angel Investor 224

Angel Investor Intellectual Property Technical Review Elevator Pitch 224

ConversionXL

JULY 16, 2021

This will help you gauge who your audience is and how to speak to them at every customer touchpoint. The point isn’t to complicate your content creation—it’s to ensure your messaging is aligned with the customer journey every step of the way. Instead, pinpoint your unique customer base and speak directly to them.

Audience 127

Audience Framework Differentiation Software Review 127

Startup Professionals Musings

FEBRUARY 27, 2019

Every entrepreneur and every startup needs to have a clear “elevator pitch,” which identifies a unique strength and value they bring to the table. Today, customers and future managers put a higher value on relationships, and expect to know you from industry conferences, social media, or recommendations from peers.

Employee 246

Employee Elevator Pitch Differentiation Social Media 246

Steve Blank

MARCH 8, 2011

It was designed to bring together many of the new approaches to building a successful startup – customer development, agile development, business model generation and pivots. Startups, are not about executing a plan where the product, customers, channel are known. Get Out of the Building and test the Business Model.

Lean 298

Lean Business Model Customer Development Guinea 298

Startup Professionals Musings

FEBRUARY 19, 2018

Shy introverts may be great technologists, but they won’t be entrepreneurs until they learn to respectfully ask for funding, after nurturing relationships, and practicing their elevator pitch. Tie investment return to revenue rather than a fixed date. Be prepared with a formal agreement and a thank you.

Elevator Pitch 215

Elevator Pitch Equity Revenue Differentiation 215

Up and Running

MARCH 14, 2018

Your revenue or business model. Customer acquisition: Marketing and sales strategy. This is usually one of the most skipped sections of an investor pitch and a full business plan. How will you reach your customers? Your financials should easily allow you to calculate your customer acquisition costs.

Hockey Stick 164

Hockey Stick Exit Strategy Technical Review Angel Investor 164

Startup Professionals Musings

DECEMBER 8, 2017

Since this document is outward facing, it is important to keep the terminology and tone consistent with that of your customer set, investors, and business partners. This is your elevator pitch hook, which you must be able to deliver in 30 seconds. Marketing, sales, and customer experience. Skip the acronyms and jargon.

Elevator Pitch 163

Elevator Pitch Angel Investor Silicon Valley Revenue 163

Up and Running

SEPTEMBER 26, 2018

Cash flow issues, the type where a company is bringing in plenty of revenue but is struggling to meet expenses can be really challenging for startups. Colgate’s failed foray into frozen dinners didn’t jive with customers’ view of the brand, while Jell-o’s celery flavor just tasted awful. Get to know your customers.

Elevator Pitch 242

Elevator Pitch Due Diligence Networking Venture Capital 242

Gust

OCTOBER 11, 2011

An “ elevator pitch ” is a concise, well-practiced description of your startup and your plan, delivered with conviction and enthusiasm, that your mother should be able to understand in the time it would take to ride up an elevator. A good elevator pitch is not just for an elevator discussion.

Elevator Pitch 174

Elevator Pitch Startup Differentiation Distribution 174

Startup Professionals Musings

MAY 31, 2014

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). Building a huge inventory before you have a confirmed customer is not a convincing strategy. Make your focus and priorities clear.

Elevator Pitch 285

Elevator Pitch Salary Angel Investor Viral 285

Startup Professionals Musings

JUNE 26, 2020

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. Budget time and dollars for each.

Business Plan 423

Business Plan Product Intellectual Property Elevator Pitch 423

Startup Professionals Musings

AUGUST 27, 2012

Give the “elevator pitch” for your startup. Here is how and why it works, including a customer-centric quantification of the benefits. Define the characteristics of the overall industry, market forces, market dynamics, and customer landscape. Explain how you will make money and who pays you (real customer).

Elevator Pitch 247

Elevator Pitch Exit Strategy Burn Rate Merger 247

Startup Professionals Musings

AUGUST 5, 2018

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). Building a huge inventory before you have a confirmed customer is not a convincing strategy. Make your focus and priorities clear.

Elevator Pitch 139

Elevator Pitch Salary Angel Investor Viral 139

Startup Professionals Musings

JANUARY 20, 2018

Here is my outline of key deliverables that could convince me that you are a cut above the “average” entrepreneur that approaches me with nothing but a dream and a prayer: Personal video introduction with elevator pitch. Successful startups are all about the right people with the right stuff. Investors will expect it for due diligence.

Elevator Pitch 164

Elevator Pitch Due Diligence Angel Investor Business Plan 164

Startup Professionals Musings

AUGUST 8, 2016

By profit, I simply mean offering a product or service to customers for a price that exceeds the total costs associated with the solution, thus providing some basis for recovering sunk costs and generating a return for stakeholders. Solve a painful problem for customers who have money to spend.

Intellectual Property 120

Intellectual Property Entrepreneur Elevator Pitch Exit Strategy 120

Startup Professionals Musings

MAY 18, 2014

Here is my outline of some key activities that could convince me you are a cut above the “average” entrepreneur that approaches me with nothing but a dream and a prayer: Personal video introduction with elevator pitch. Successful startups are all about the right people with the right stuff. Investors will expect it for due diligence.

Entrepreneur 270

Entrepreneur Elevator Pitch Due Diligence Angel Investor 270

Steve Blank

NOVEMBER 5, 2009

Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Are there customers for what you are building? How many are there? Can it scale?”

Customer Development 262

Customer Development Developer Customer Silicon Valley 262

Startup Professionals Musings

JUNE 10, 2011

Give the “elevator pitch” for your startup. Here is how and why it works, including a customer-centric quantification of the benefits. Define the characteristics of the overall industry, market forces, market dynamics, and customer landscape. Explain how you will make money and who pays you (real customer).

Elevator Pitch 234

Elevator Pitch Exit Strategy Burn Rate Merger 234

Up and Running

AUGUST 30, 2017

This description should basically be an elevator pitch for potential partners and business investors to get excited about what you’re offering and your unique location, philosophy, and approach. Like it or not, this will likely affect your revenue and enrollment, especially if you are offering part-time care.

Business Plan 93

Business Plan SBA Software Review Advisory Board 93

Startup Professionals Musings

APRIL 9, 2012

Before you start, remember that the goal of the executive summary is to provide a printed version of your best elevator pitch, to provide a positive first impression to the reader. Who is your customer, what is the price, and how much does it cost you to build one? Do you now have real customers, are just starting development.

Business Plan 244

Business Plan Elevator Pitch Viral Lead Generation 244

Startup Professionals Musings

AUGUST 14, 2015

Maybe more important, you need domain knowledge, relationships and lots of potential customers. Every startup needs a simple elevator pitch, quantifying the value of its journey, that can be communicated in less than a minute to new team members, potential investors and customers.

Elevator Pitch 120

Elevator Pitch Burn Rate Startup Metrics 120

OnlyOnce

JULY 9, 2013

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

Startup Advisory Board Elevator Pitch Forecast 95

Eric Friedman

JANUARY 24, 2020

A real business, with real customers, real revenue and a flywheel that makes sense to the fintech innovation ecosystem. Everyone seems to have their elevator pitch down of themselves, their company, and what they are doing. As I love saying two things can fix all problems; usage and revenue. The Place.

Elevator Pitch 135

Elevator Pitch Valuation Revenue Early Stage 135

Hearpreneur

NOVEMBER 27, 2019

Ultimately, we went with On Site because we wanted to give a clear indication of what made us different – kind of a micro elevator pitch in our name. When opening up my men’s clothing shop, I wanted to replicate the feeling of home and for my customers to walk out feeling better than when they walked in. And I was right.

Naming 145

Naming CPA Entrepreneur Software Review 145

Startup Professionals Musings

DECEMBER 24, 2012

Remember to aim the content of both of these at investors, not customers. They must amplify your “elevator pitch” to investors, as well as key points from the business plan and the financial model. Close at least one initial customer. Prepare an investment-grade business plan. Free trials don’t count.

Angel Investor 260

Angel Investor Intellectual Property Elevator Pitch Angel Groups 260

Up and Running

FEBRUARY 12, 2019

If you employ these nine tips for taking a good pitch and making it great, you’re going to give the kind of pitch that stands out to investors, too. Tell a real customer story. When possible, open your pitch by telling a real customer story that addresses the problem your product or service solves in the marketplace.

Sweat Equity 122

Sweat Equity Churn Rate Elevator Pitch Forecast 122

Startup Professionals Musings

MAY 19, 2010

Give the “elevator pitch” for your startup. Here is how and why it works, including a customer-centric quantification of the benefits. Define the characteristics of the overall industry, market forces, market dynamics, and customer landscape. Explain how you will make money and who pays you (real customer).

Elevator Pitch 235

Elevator Pitch Exit Strategy Burn Rate Merger 235