Aug

19

A few months ago, in between everything else in my life, I had been working on applications for accelerators and an executive summary for investors.

While money is always a good thing, I was surprised by the unexpected benefits. The questions asked by investors are the same ones you should be asking yourself.

Now, it’s our second week as part of the Boom Startup Ed Tech accelerator and I have to say it has been an exhausting and productive time.

Getting people to invest in your company is much more than refining your pitch (although we have done that as well). I used to mock those requirements that you describe the opportunity, your solution and your key team members in two minutes or less. No more. You know why? Because it shows that you know what is truly important to your customers and what is unique about your product and company.

As I’ve said over and over the past two weeks, almost everyone here knows they should have done things like identify market segments, track results of social media efforts, call potential customers and a hundred of other things. The fact is, most founders are so busy focused on building a product that they don’t spend near enough time building a business.

 


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