Entrepreneurs are often enchanted with the idea behind their business that they think investors will write them a check based on the idea alone.
Many have great ideas but I always say no matter how great your idea is standard startup metrics apply.
New technologies can capture the imagination such as blockchain in 2017 that sent startups through a hyper funding phase, but this only lasts for a short time. Today standard startup metrics apply.
Some have a rockstar team and think that will make the fundraise a slam dunk. But again, I say standard startup metrics apply.
Standard startup metrics means you have a platform setup with users on it and line of sight to revenue. You have market validation and product validation – the user likes the product and will pay for it at some point.
You too may be excited about your idea, product, team, or more but standard startup metrics apply
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Copyright (c) 2020, Hall Martin and investorconnect.org. All rights reserved.
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.