How to protect yourself and your business startup when the partnership falls apart.
How to Build a Winning Team
How to Create a Strategy, Vision and Mission
How to Create an Advisory Board
How to Get Funding
How to Improve Your Company
How to Improve Your Pitch
How to Start Your Company
Entrepreneurial Ecosystem Spotlight
Startup Accelerator Spotlight
Startup Investor Spotlight
Business Startup Spotlight
Entrepreneur Events Spotlight
University Entrepreneurial Program Spotlight
Women Entrepreneurs Spotlight
A fair number of really smart, well-prepared entrepreneurs get tripped up, stumble around and eventually fall to the ground when they make their startup funding pitches to the Angel Investment Group that I am a part of.
There are two key factors to consider in order to be great startup advice from outside experts: Pick the right team, and always know what you want before you ask.
Many founders don’t consider this one until it’s too late. The excitement and adrenaline of getting started leads to a “kumbaya atmosphere” where all things are equal. This spills over into salaries. Sooner or later, the amount of time, effort and energy expended by the partners is no longer equal, but their salaries are. Tensions begin to rise.
As an angel investor and leader of an angel group, I receive funding inquiries every day. Most come in the form of an executive summary, which typically provides one of the initial interactions an entrepreneur will have with an investor.
Some entrepreneurs fail to leverage the knowledge and experiences of others by failing to create advisory boards. These boards are a critical component required to scale strong entrepreneurial opportunities.
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.
How do we get there? Remember that your organization’s vision is the destination.
If you want to up your chances of success, take a page out of the Boy Scout manual and follow these five steps to make sure you’re good and ready to give a winning startup pitch…
There has been a trend to try to create one overarching company mission statement. However, they often become “wall art” hanging in the office of little practical use in operating the company.