3 ms·
Ask HN: most essential questions to be able to answer about your business?
Say you're sitting down for coffee with a potential investor.
What questions should you absolutely be able to answer?
What should you cover when introducing your business/idea?
I think having a more formal list of topcis to answer will better help at least me, and likely others, communicate more effectively in this area.
Cheers
- t0 14y agoShark Tank has a nice standard set of questions they ask nearly every pitch. What is the product? Do you have sales? What would you do with my money? ... http://liftdevelopment.com/2012/05/fifteen-valuable-questions-from-the-tv-show-shark-tank/ http://liftdevelopment.com/2012/05/fifteen-valuable-question...
- gatsby 14y agoSequoia has a really good outline on their site of things that every entrepreneur should know or be able to explain about their company: COMPANY PURPOSE -Define the company/business in a single declarative sentence. PROBLEM -Describe the pain of the customer (or the customer’s customer). -Outline how the customer addresses the issue today. SOLUTION -Demonstrate your company’s value proposition to make the customer’s life better. -Show where your product physically sits. -Provide use cases. WHY NOW -Set-up the historical evolution of your category. -Define recent trends that make your solution possible. MARKET SIZE -Identify/profile the customer you cater to. -Calculate the TAM (top down), SAM (bottoms up) and SOM. COMPETITION -List competitors -List competitive advantages PRODUCT -Product line-up (form factor, functionality, features, architecture, intellectual property). -Development roadmap. BUSINESS MODEL -Revenue model -Pricing -Average account size and/or lifetime value -Sales & distribution model -Customer/pipeline list TEAM -Founders & Management -Board of Directors/Board of Advisors FINANCIALS -P&L -Balance sheet -Cash flow -Cap table -The deal