How To Go From Good Idea To Venture
A lot of ventures fail because the founder initially focuses solely on the product ( idea), yet there are 11 stages to building a successful venture, of which “building the product” is the last.
FFFounders need to do so much more than spend their life savings on building a prototype. Is there a market? What ‘pain’ are you addressing in the market? Will people buy? What can you afford to lose?
Getting money is also not a guarantee of success. 50% of funded start-ups with a marketable product still fail.
Ultimately, building a business first (instead of just the product) will give you a better foundation for success.
There are key fundamentals that every mentor or investor will ask you about, along your journey, such as:
· Have you done a life plan?
· What is your business plan/strategy?
· Will your idea actually be investable?
· Do have a clear & addressable audience with identifiable pain?
· Do you have a funding roadmap?
· Do you know your key business metrics?
· Have you identified clear and achievable business milestones?
We help experienced professionals build successful ventures, maximise their ‘success factors’ and address their key risks before they quit their day job.
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