Entrepreneur’s Journey to Get funded — Part 1: Market
This is a Series I always wanted to write. While I was working on my first startup, I struggle with structure. I had the following question
How do I pitch my investors about my startup?
What should I cover in my pitch deck?
How can I possibly include all the questions that my investors might ask?
Based on my experience both as a startup founder and in a later stage as a venture investor, I came to the following structure.
This a Part 1 of the Series where I will cover the first analysis that an Entrepreneur MUST do:
Analyze your Market
Here are the things you need to do
- Size & Scale: How big is the market opportunity? Can you scale your startup to capture that opportunity?
- Demand: Is there a real demand for your product? Are you solving a real need, a real pain point that a customer has?
- Solution: How do you define your solution? Is your solution something feasible? Is it user-friendly? Is it easy to manufacture?
- Competition: Who are the competition for your product? It is very unlikely that you will come up with a product idea that doesn’t have a competitor. There is some hidden benefit to having competitors. If they are doing business then you have a broader market. You can compare your product's key performance matrices to find out whether you can kick them out of the market.
- Unique Selling Point: How are you differentiating yourself from the competition? Is your product way more user-friendly that even a kid can use it?
- Value: What value you are providing to your customer? Are they going to make money with your product? Are they going to save money with your product? Are they going to be efficient with your product ? And how it is reflected in your own revenue and profit?
If you want to Read Part 2 of this Series, please check the article below.
Entrepreneur’s Journey to Get Funded — Part 2: Profit
This a Part 2 of the Series. Here I will explaing the Second Step that an Entrepreneur MUST take after analyzing the…
I ALWAYS TRY TO WRITE TOPICS CONCISELY AND DON’T WANT TO WASTE YOUR TIME LIKE A BUNCH OF CLICK & BAIT CHANNELS.
IF YOU LIKE THIS CHANNEL PLEASE FOLLOW.
Want to keep reading amazing Medium Articles? Sign Up for Medium Membership by clicking here https://1minutepublication.medium.com/membership