Why are investors passing you up?
This is the big question, right?
You’ve put so much work into your idea and/or product, and you probably think you’re in a really good place. Why WOULDN’T someone want to invest in you?
I was inspired by a recent Twitter thread that Leslie Feinzaig of Female Founders Alliance posted. She details the main reasons why investors pass up on founders.
And guess what? The main reason you’re being ignored likely revolves around the problem that you are solving.
The problem either doesn’t exist at all OR it exists, but you’re dropping the ball somewhere along the line. But it all revolves around the problem – the sun of the startup business solar system.
Before diving into the excitement of product building, there are 3 essential questions that you need to ask your customers. Without the answers to these, you’re fumbling around in the dark, just hoping to find the light switch.
- Do you experience this problem?
- What have you done to solve this problem on your own?
- Of all of your problems, how high up on the list is this one?”
As a startup founder, when looking at the problem that you are solving, you need to validate ALL of the following: 1) whether the problem exists 2) what the specific audience is that experiences this problem 3) and that the problem is so painful that the audience is willing to pay you
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