Pitching is an art form in the startup world. It’s a make or break moment as companies lay out their case for why they deserve millions in venture capital money.
Make sure you deliver real facts that show traction of the business and provide confidence to investors.
Source: Startup pitches are choosing random metrics.
More than two generations ago, the venture capital community — VCs, business angels, incubators, and others — convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centerpieces of entrepreneurial endeavor.
But the vast majority of successful entrepreneurs never take any venture capital.
In most of the cases, the startup success relies in solving a pain or improving an inefficiency which is part of complex process or of a long supply chain.
Developing a minimum viable product (MVP) with strong collaboration of potential customers and other stakeholders might help defining the product/service boundaries and establishing profitable partnerships.
Developing a minimum viable product to prove a business model concept is an essential element of the lean startup approach.
Building such prototypes have two major objectives: Learning what problems should be solved and drive risk out of the business model.
Five Ways to Innovate Faster
Managing a large running enterprise is a much different game than running a small startup and it requires a totally different set of skills and sources of motivation.
In this article, Scott Anthony from Innosight explains 5 simple rules for corporations to manage innovation projects:
- Create small teams
- Face the (potential) customer as much a possible
- Create metrics on learnings, not on results
- Attach funding to project risk and not to calendar
- Ensure decision makers have competence to move through uncertainty
Why the Lean Start-Up Changes Everything
The business cycle and internal dynamics of a startup company has few similarities with those of an established business. To be responsive to fast moves of the economy, startups have to adopt the lean startup methodology to pace the development of its product lines.
In opposition to the creation of extensive business plans and the development of fully functional prototypes, this methodology prompts for the test of hypotheses by incorporating frequent customer feedback in “minimum viable products”.
10 Secrets to Successfully Pitching Investors for Big Money
Simple and effective tips on how to pitch a new venture to investors.
Steve Blank on Why Big Companies Can’t Innovate
Innovation, either focused on product or the business model, can be very hard to implement at the corporate level because of the different profiles and set of skills of managers needed to run them.
Strategy and the Uncertainty Excuse
A company without strategy is like a bobsled without direction, it just moves erratic anywhere…
To Spur Growth, Target Profitable “Prosumers”
Prosumers can be the guide to find unmet demand on the price/value curve and create new business models.