Blog: One-Liners – For Startups
I try to develop one liners for whatever topic I present to Entrepreneurs. Below is an example of ones I use at my first meetings.
A Demo is worth a thousand pictures. This can include a short video during a 12 – minute presentation to investors
Customer Validation of the product requires getting agreement they would pay for the idea. Too many times I see this question not being asked in the validation process.
Focus on Customers’ needs before offering a solution. I encountered entrepreneurs whose total excitement is about their idea and product, but they haven’t talked to any customers yet.
Plan for rejections until you sell your idea. It’s a long process for selling to investors, but take the opportunity to learn from each presentation and meeting.
It’s not the plan so much to help, but it is the planning process.
Develop a Business Plan diary to help staying on your course or pivoting when necessary.
A Company is easy to form, but the real challenge is building a business. I’ve had a couple entrepreneurs form a company in one of our meetings, but there’s a long way to go to building a business.
Cash is King, so be prudent in spending it.
Start with assumptions to your strategy and review constantly for validity. A business model should be needed to demonstrate the ability to scale up a business and make money.
Concentrate on developing a customer rather than conquering the market.
Start with a position statement that says how you want customers to perceive you.
Ownership is precious, so be careful how you distribute it.
A good part of marketing is often based on perception from customers more so than on facts. Even with all the data the comes off the Internet, I have yet to determine perception from numbers.
You must want to make money to interest an investor.
Entrepreneurship is all about working long hours for several years and no pay.
If you have one to add please send it to me.