Four words that could kill your #startup
▻https://hackernoon.com/four-words-that-could-kill-your-startup-f5726f787dcf?source=rss----3a814
And seven sentences that can save it.By David Frankel, Managing Partner“We learned a lot.”When said to investors, this phrase is almost always a euphemism for “We’ve spent nearly all of our capital, don’t have traditional traction, but need more money.” Those four words will chill a VC’s soul — here’s what you should say if you’re running out of cash/time.“We’ve identified a specific customer”Sure, you might have flailed around in the process of finding a route to market, but now you’ve identified a specific person willing to pay. Not a category, not a company, but the individual that will write you a check.“This is what we’re going to build”You’ve lost the luxury of experimenting, growing slowly, you need to present a clear vision for the product that will turn your company around. You need to talk in terms (...)
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