Core Skills for Biotech Drug Development
Investors looking to invest in a biotech drug startup should diligence the team for key skills. Here are the key skills needed for biotech drug development: Knowledge of how to drug a target. This means identifying a molecule, often a protein, that is associated with the disease to be treated...
What Investors Look for in a Market Slide
Part of the startup’s pitch deck should be a market slide. Here’s what investors need to know about your startup’s target market. Who is the target customer? A good market slide segments the customers into categories and highlights the ideal segments for the startup’s product. Next, the market slide shows...
How To Pitch the Business Case for Your Startup
Most first-time founders talk about the product and how it works. In pitching, it’s important to make the business case for your startup. Here are some key steps to use to make the business case: Start with the problem and show how it costs the customers a substantial amount in...
Growth Startups Are Not Profitable in Year One
Startups require up-front costs to set up and build the company. Any financial projection that shows profitability in the first year is suspect. Upfront costs include building the website, filing the company legal entity documents, patent filings, and more. Hiring the team takes time and takes time away from building...
Delusions in the Early-Stage Startup
The early-stage startup has its own set of delusions founders must overcome. Here’s a list of delusions to watch for: Everyone else is a professional but not the founder. The reality is that the founder has the opportunity to build a great business just like anyone else. Financial projections are...
Best Practices for Explaining a Technical Concept
In pitching investors, founders must explain how their product works. For those with highly technical products, here are some best practices for explaining it to others. Start with what the audience knows. Bridge the gap between their current knowledge and the topic under discussion. Avoid acronyms and jargon that require...
The Negative Checklist for Startup Investing
Most investors have a checklist for what they look for in a startup investment. The counter to this is the negative list for startup investing. This list shows what the investor does not invest in. Here are some examples: Investments that will close shortly, leaving the investor no time for...
Look for Founders With Balance
Investors funding startups know that the team is the most important element. In reviewing the team, look for founders with balance. There are some founders who can work on multiple aspects of the business, such as sales, product development, and team building. There are others who are specialists. They work...
Key Skills Founders Need at Each Stage
At each stage of the startup, the founder needs to have key skills to succeed at that level. Here are the key skills founders need: Seed stage — grit and jack of all trades. The founder at this stage needs to have grit to grind through obstacles and wear many...
Best Practices for Investor Introductions
Fundraising requires connections to investors. After a founder exhausts his own network, he must draw the circle wider to reach out to investors he does not know. Here are some best practices for investor introductions: Personalize the request for an introduction. If making it to an investor, show how this...
