Evaluating Your Startup for a Turnaround

If things are not going well at your startup you may want to consider implementing a turnaround program at some level.

Here are key points to evaluate your startup’s need for a turnaround:

What are the customers saying?

Review customer feedback to see where you are succeeding and failing.

Do you have a competitive advantage?

Your business needs to provide something unique.

Do you have the right team for the business?

Make sure everyone on the team fits the requirements and works toward a common goal.

Is the fundamental concept behind the business sound?

Review your value proposition to see if it’s resonating with the market.

Are you executing on the plan?

It takes more than a written business plan to succeed.   You must execute on it.

Does your brand mean something?

If it doesn’t then you need to rebrand or restart your current brand.

Do you have enough funding to accomplish the plan?

If not, you may need to raise additional capital.

Consider these points to see if your startup needs to pivot or make other changes.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.