- What is your competitive advantage? Simply being in an industry with successful competitors is not enough. You need to effectively communicate how your company is different and why you have an advantage over the competition. Do you have a better distribution channel? Key partners? Proprietary technology?
- Who is behind the company? “Bet on the jockey, not the horse” is a familiar saying among investors. Tell them a little about you and your management team’s background and achievements. If you have a strong advisory board, tell them who they are and what they have accomplished.
- What is your revenue model? More simply: How do you expect to make money?
- What is your product or service? Briefly describe what it is you sell. Do not go into excruciating detail.
- Who is your market? Briefly discuss who you are selling the product or service to. What industry is it? How large is the market?
- Who is your competition? Don’t have any? Think again. Briefly discuss who they are and what they have accomplished. Successful competition is an advantage-they prove your business model or concept can work.
Author: Mike Drummond
Source: Under the Microscope: Funding in 2001
Subject: Entrepreneurship Questions
Source: Under the Microscope: Funding in 2001
Subject: Entrepreneurship Questions
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