For next week, determine the valuation of the company.
Meet the VC, ask for money how much is needed for the next milestone and how much is the share you’re willing to give.
Communicating the message of the product/service better
Create a presentation deck
Communicate clearly about the hypothesis
Clarity is more important than certainty
Are you clear about what you know about your business today?
Huge companies spending a lot of money just to get their message to you.
Huge companies are afraid of disruptions from startups.
Recap of last week’s topic: funding lifecycle
Designing the Product/Service to see Product-Market Fit: metrics is Desirability (how the customers feel about your solution? Would they recommend the product to other people, if not, why not? On a scale of 1 to 10. To see if there is a strong Product-Market Fit to the point that they would recommend.)
Designing the Business (channels, acquisitions, delivery) to see Feasibility and Financial Viability; this is where revenue will come in.
Validation stage: Learning not Earning
- Quantitative representation of your strategy
- Capex (Capital Expenditures)
- Necessary equipment
- Opex (Operating Budgets)
Questions to ask
- What must the entity have?
- Can the entity afford it?
- Is it worth it?