Assessing the competitive environment allows you to determine if your idea is truly unique.

Thinking about attending an accelerator but don’t know what to expect? We’ve contacted accelerators across North America to find out what entrepreneurs really need to know before they attend an accelerator.

The entrepreneur seeking investment should recognize the advantages of obtaining such an investment. However, the endeavor needs entrepreneurs to have a strong understanding of their objectives, opportunities, strategy, and fit with potential corporate partners.

Advisory Board compensation is an important consideration. How much is right? Does this change over time? Is there a vesting period?

Ultimately, the fit is as important to the advisory board candidate as it is to the entrepreneurs and the company. If it is learned that the fit doesn’t exist after the advisor has been on-boarded, it will likely turn out to be a waste of time for everyone.

Board resolutions are numerous issues to address as one creates and establishes a new company.

Avoid the purgatory of being non-fundable. Find out the investor’s view and structure of their balance sheet in an “investor friendly” manner before submitting an executive summary to startup investors.

There are four major sources that the entrepreneur and startup can utilize to identify advisory board candidates. Most experienced CEOs will tell you to begin close by, with who you know. Your personal network and your company are a great place to start.

The key is that they are engaging and actively seek to understand all potential alternative points of view in the decision-making process.

There are a number of reasons startups ultimately fail to obtain funding. The following due diligence showstoppers are often overlooked by the entrepreneur.