All Chance Hub’s Post

Imo it also assails your credibility unnecessarily. We’ve all been pitched by someone who throws up one of those slides. Or we’ve put together an internal plea for funding with a slide with Harvey balls that declare us a sole winner at the end. I think it plays well to ppl who are already in the boat. It’s not just unconvincing to those who aren’t, it gives them a reason to disbelieve. Either you know it’s not genuine and you’re lying, or you don’t know what you don’t know. Not sure which is worse. In a marketplace where progress is made by helping people navigate uncertainty, credibility is everything. Authenticity ftw.

If you're pitching your startup to VC, that feature comparison slide - with checkmarks in your column and Xs for the competitors - isn't helping you. At worst, it may be hurting. Here's why: ¶ Features can be copied. If you have something the incumbent is missing, why won't the incumbent add that thing once customers show that they care? ¶ When presented with an idea - even (especially) if it's a very clever idea - we investors ask ourselves whether what you've got is a 𝘧𝘦𝘢𝘵𝘶𝘳𝘦, a 𝘱𝘳𝘰𝘥𝘶𝘤𝘵, or a 𝘤𝘰𝘮𝘱𝘢𝘯𝘺. A feature, by itself, does not make a successful product; a product, by itself, does not make a sustainable company. ¶ Most founders know an enormous amount about their own product, a reasonable amount about their customers, and almost nothing about their competitors. That's ok; your time is generally better spent on customers than on competition. But don't fool yourself, on the basis of that limited knowledge, that the competition doesn't have X or can't build Y - it's better to be paranoid, as Andy Grove wrote. Also, because your competitive analysis is likely to be both overconfident and underinformed, VCs are going to discount it anyway and do their own diligence. You'd be surprised how often I Google a startup's competitors 𝘥𝘶𝘳𝘪𝘯𝘨 𝘵𝘩𝘦 𝘱𝘪𝘵𝘤𝘩 and find evidence that directly contradicts the founder's claims - meaning they've scored a credibility own-goal. Of course, competition does matter, and in some businesses even more than others. You will need to convince investors that you can achieve sustainable competitive advantage. That's something that isn't accomplished in just one meeting; so in the first meeting, you need to make a high-level argument that your business 𝘤𝘰𝘶𝘭𝘥 be defensible over the long term, and invite a deeper discussion in follow-up meetings. As for how to project sustainable advantage - that's a hard one, and in the age of AI it's becoming even harder, as barriers are getting lower. Two main approaches I've seen: 1) comparing yourself to a successful company whose playbook you are following, 2) using a strategy framework, such as disruption theory, blue ocean theory, "What is Strategy", or one I developed called the "Can'ts and the Won'ts." But that's a subject for another post!

In the startup world, falling in love with our own ideas is easy, but can we convince others to feel the same? This is where the critical process of external validation comes into play, serving not just as a checkpoint but as a cornerstone of building a scalable and sustainable business. Why is external validation so crucial? It helps us escape the confines of our own biases, ensures our concept resonates in the real world, and paves the way for meaningful innovations. Here are a four strategic approaches to effectively harness external insights: 1. Leverage Industry Expertise: Connect with industry experts and seasoned entrepreneurs who can provide unfiltered feedback on your business model and market fit. Their experience can offer invaluable insights that are not immediately apparent from the inside. 2. Engage with Potential Customers: Early and frequent engagement with potential customers can shape your product to better meet market demands. Use surveys, focus groups, and beta testing to gather actionable feedback and adjust your strategies accordingly. 3. Utilize Advisory Boards: Establishing an advisory board can provide a structured way to receive consistent and strategic advice. Choose members from diverse backgrounds to cover all critical aspects of your startup, from technology to marketing and finance. 4. Pitch Competitions: Participate in pitch competitions. It will not only refine your pitch but also put your ideas in front of impartial audiences whose feedback can be golden. In the journey of building a startup, the ecosystem you create plays a pivotal role in your success. By understanding your market, forging strategic partnerships, and staying attuned to customer needs, you pave the way for sustainable growth. --- Like this post? Please repost ♻️ this to your network and follow me for more.

𝗪𝗵𝘆 𝗜 𝗟𝗼𝘃𝗲 𝗪𝗼𝗿𝗸𝗶𝗻𝗴 𝗪𝗶𝘁𝗵 𝗦𝗺𝗮𝗹𝗹 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗮𝗻𝗱 𝗘𝗮𝗿𝗹𝘆-𝗦𝘁𝗮𝗴𝗲 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 🌟 There’s something uniquely fulfilling about collaborating with small businesses and early-stage startups. They aren’t just participants in the market—they’re change-makers driving innovation and reshaping industries from the ground up. Here’s why I find my work so rewarding: ➤ Agility & Bold Ideas ↳ Small companies adapt quickly and take risks others shy away from. ➤ Passion-Fueled Missions ↳ Every project is rooted in a vision for solving real problems or creating lasting impact. ➤ Direct Impact ↳ Every effort matters. You can see how each action contributes to building something extraordinary. 𝗛𝗼𝘄 𝗜 𝗦𝗲𝗲 𝗦𝗺𝗮𝗹𝗹 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗖𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗕𝗶𝗴 𝗖𝗵𝗮𝗻𝗴𝗲: ❌ Assuming “it’s just a small business.” ✅ Recognizing their potential to disrupt industries. ❌ Waiting for big, perfect moments. ✅ Appreciating that growth is a series of small, meaningful steps. ❌ Thinking only big corporations drive impact. ✅ Proving that innovation often starts in small, passionate teams. 🌱 A metaphor I live by - Even the mightiest forests grow from the smallest seeds. To me, working with small businesses is about planting those seeds, nurturing them, and watching them thrive into something transformative. 𝗔𝘀 𝗮 𝗳𝗼𝘂𝗻𝗱𝗲𝗿 𝗼𝗿 𝗲𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿, 𝗲𝘃𝗲𝗿𝘆 𝗮𝗰𝘁𝗶𝗼𝗻 𝗺𝗮𝘁𝘁𝗲𝗿𝘀. 𝗗𝗼𝗻’𝘁 𝘂𝗻𝗱𝗲𝗿𝗲𝘀𝘁𝗶𝗺𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗶𝗺𝗽𝗮𝗰𝘁. ------------- 👍 Follow me for tips on building a brand your clients can’t resist—without losing sight of what really matters. 🔁 ♻ Share this if you believe in the power of small businesses to make big changes. 🚀 Subscribe to the SunflowerAds Newsletter to Unlock Proven Ad Strategies to Boost ROI by 30% https://lnkd.in/e9bJSpm6

In a LinkedIn feed filled with how-to-scale tech startup advice and a growth-at-all-costs mindset, here’s my unpopular opinion: 📈 Focusing on profitability from an early stage represents a healthier, more sustainable ♻️ approach for startups. Why? - Achieving profitability early on proves your business model works. - Profitable operations allow for steady growth without the 🎢 roller coaster ride of funding rounds. - Early focus on profitability instills a culture of financial discipline, which is a must for long-term success. - A financially healthy company is more attractive to 🌟 top talent, who value stability and a clear vision for the future. - A profitable foundation makes your startup more resilient against market downturns and challenges that are widespread in 2024. ... and the endless amount of other reasons. In essence, while scaling fast and seeking aggressive growth are often glorified, the path to lasting success and impact is through building a financially solid and profitable foundation from the start. 🔐 ⬇️ Here's how to ensure your startup is on the right path: ✅ 1. Make the use of financial metrics a vital practice within your daily operations. ✅ 2. Use an innovative pricing strategy supported by financial modeling. ✅ 3. Prioritize your revenue strategy from the start. ✅ 4. Keep a close eye on your cash flow ✅ 5. Engage a Fractional CFO *** 🔔 Find it helpful? Share it below! Don’t forget to join my upcoming online session with Nasdaq Entrepreneurial Center on March 19 about 'Competitive Pricing for Sustainable Growth'. Free tickets available at https://lnkd.in/gXPcd3Dn #pricing #subscription #saaspricing #pricingstrategies #saasstartup

Embracing the Journey: The Benefits and Learnings of Running a Bootstrapped Company Are you considering starting a bootstrapped company? Here are some insights into the unique benefits and valuable lessons you can gain from this entrepreneurial journey. Financial Independence: Bootstrapping allows you to maintain full ownership and control of your company without relying on external investors. This independence enables you to make strategic decisions aligned with your vision and values. Lean Operations: Operating with limited resources fosters creativity and efficiency. You learn to prioritize essential tasks, optimize processes, and find innovative solutions to challenges, leading to a lean and agile business model. Customer-Centric Approach: With a focus on sustainable growth, bootstrapped companies prioritize building strong relationships with customers. This customer-centric approach not only drives product improvement but also fosters loyalty and advocacy. Resilience and Adaptability: Bootstrapping teaches resilience in navigating market fluctuations, economic uncertainties, and competitive landscapes. You learn to adapt quickly, pivot when necessary, and stay agile in evolving markets. Holistic Learning: As a bootstrapped founder, you gain hands-on experience across various business functions—from product development and marketing to finance and operations. This holistic learning journey shapes you into a versatile and well-rounded entrepreneur. Community Building: Engaging with fellow entrepreneurs and industry peers in the bootstrapping community offers invaluable networking opportunities, mentorship, and shared experiences. Collaboration and knowledge sharing contribute to collective growth and success. Long-Term Sustainability: Bootstrapped companies often prioritize long-term sustainability over rapid scaling. This approach fosters organic growth, profitability, and a solid foundation for enduring success in the ever-evolving tech landscape. Embrace the challenges and rewards of bootstrapping—it's not just about building a business but also about personal and professional growth. Share your experiences and insights as you navigate this exciting journey! #Bootstrapping #Entrepreneurship #SoftwareDevelopment #StartupJourney #BusinessInsights

🚀 Quick Hacks to Make Your Startup More Attractive to Investors Attracting investors is challenging, but these quick hacks can help your startup stand out: 1. Showcase Traction Investors seek momentum. Highlight growth with clear metrics like user growth or revenue milestones. 🔍 Tip: Use charts in your pitch deck to display key metrics, and compare them to industry benchmarks. 2. Highlight Your Unique Value Proposition (UVP) Your UVP differentiates you from competitors. Clearly state what makes your product unique and better. 💡 Insight: Craft a concise UVP. Test it with customers to ensure it resonates and is easy to understand. 3. Build a Strong Team Investors back strong teams. Highlight the skills, experience, and achievements of your team members. 📈 **Advice**: Include team bios in your pitch deck, focusing on relevant experience and notable advisors. 4. Develop a Clear Business Model A scalable business model reassures investors. Outline revenue streams, pricing, and growth plans. 🔍 Tip: Use financial projections to illustrate your model’s potential, and be ready to justify assumptions. 5. Validate Your Market Opportunity Show there’s a significant market for your startup. Use data to validate the size and potential of your target market. 💡 Insight: Present market research that highlights demand and your startup’s unique position. 6. Prepare for Due Diligence Be ready for investor scrutiny with detailed documentation, including financials and legal agreements. 📈 Advice: Organize a data room with all necessary documents to expedite the investment process. 7. Craft a Compelling Story A strong narrative makes your pitch memorable. Share your startup’s journey, the problem you're solving, and your impact. 🔍 Tip: Practice your pitch to refine your storytelling and connect emotionally with investors. By showcasing traction, highlighting your UVP, building a strong team, developing a clear business model, validating market opportunity, preparing for due diligence, and crafting a compelling story, you can make your startup more attractive to investors. What strategies have you used to attract investors? Share your tips and experiences! 📈 Let’s discuss and support each other in our entrepreneurial journeys. #StartupTips #InvestorRelations #BusinessGrowth #Entrepreneurship #StartupSuccess #InvestorPitch #BusinessStrategy #MarketOpportunity #Traction

Did you know that 90% of startups fail? Yet, with the right strategy, you can be part of the successful 10%. Here's why strategy matters and how to craft one that works: Why Strategy Matters: 1. Direction: A clear strategy provides a roadmap for your startup's growth. 2. Resource Allocation: It helps you focus your limited resources on what truly matters. 3. Competitive Advantage: A solid strategy differentiates you from competitors. 4. Decision Making: It guides daily decisions and long-term planning. 5. Investor Attraction: A well-thought-out strategy attracts investors and partners. Key Components of a Winning Startup Strategy: Market Analysis: ↳ Understand your target market deeply ↳ Identify customer pain points ↳ Analyze competitors and market trends Unique Value Proposition: ↳ Define what sets you apart ↳ Articulate your solution's benefits clearly Business Model: ↳ Determine how you'll generate revenue ↳ Ensure scalability and profitability Growth Plan: ↳ Set clear, measurable goals ↳ Outline strategies for customer acquisition and retention Financial Projections: ↳ Create realistic financial forecasts ↳ Plan for different scenarios (best-case, worst-case, likely) Startling Stats ↳ Startups with a business plan are 30% more likely to secure funding (Fundera, 2020) ↳ 42% of startups fail due to lack of market need (CBInsights, 2021) ↳ Companies that pivot once or twice raise 2.5x more money (Startup Genome Report) Airbnb's initial strategy focused on providing air mattresses for conference attendees.  They pivoted to a broader home-sharing concept, which led to their massive success.  This strategic shift was crucial in addressing a larger market need. Remember, Strategy isn't static.  Be prepared to adapt and pivot as you learn and grow. The most successful startups are those that can balance a clear vision with the flexibility to evolve. What's your startup's strategy for success?  Share in the comments below! 👇 #StartupStrategy #EntrepreneurshipTips #BusinessGrowth

Many Founders mistakenly believe that a startup is simply a product idea. In truth, a startup shares all the characteristics of a typical business, along with the challenges of ↴ - Intense competition - Limited funding - Rapid growth The product without distribution is Big Fat Zero! Even if you have initial customers and some momentum, this is only the beginning, and the big challenge will always be scaling your business. Easier said than done, right? To scale a business, you need to identify repeatable success so that you can build systems and foundations in those areas, allowing you to scale and grow without continuously fixing mistakes and wasting crucial time and capital. A scalable business is often built on frameworks. These frameworks provide structured approaches to growth, operations, and decision-making, which are crucial for scaling a business efficiently. This week I would like to share with you the importance of frameworks. You will learn ↴ 1️⃣ What are the components of an effective framework 2️⃣ How to define your own frameworks to build repeatable success So, what are frameworks? Frameworks are structured approaches that outline a series of steps or guidelines designed to achieve a specific goal. Think of them as blueprints that help you navigate complex processes with clarity and precision. In the context of startups, frameworks can be applied to various aspects of the business, from product development and marketing to customer retention and growth strategies. They provide a systematic way to approach challenges, ensuring that each step is deliberate and aligned with your overall objectives. What have you found most challenging in scaling your business? If you want to learn how to grow revenue and raise from a point of strength Subscribe to the Bedrokk newsletter here bit.ly/3IGO9TF and receive practical, actionable, and relevant GTM insights every Wednesday. #startups #founders #investors #gotomarketstrategy #venturecapital ___________________________________ Did you like this post? Connect or Follow Evaldas Girskus Want to see all my posts? Ring that 🔔 and Follow #thestartupguy

🚀 Why Growth Milestones are Crucial for Startup Founders Seeking Funding 🚀 As a startup founder, securing funding is often the key to scaling your business. However, investors need more than just a compelling idea – they need proof of growth. This is where growth milestones come into play. 🔑 Key Milestones to Showcase: Revenue Growth: Example: Achieving $100,000 in monthly recurring revenue (MRR) within 12 months. Tip: Track your revenue growth meticulously and be prepared to demonstrate consistent month-over-month increases. Use tools like QuickBooks or Xero to keep accurate records. Customer Acquisition: Example: Growing from 500 to 5,000 active users in 6 months. Tip: Implement a robust customer acquisition strategy and leverage data analytics to understand your customer journey and optimize your marketing efforts. Market Penetration: Example: Expanding from a single city to five major metropolitan areas within a year. Tip: Conduct thorough market research to identify new opportunities and tailor your expansion strategy to meet local demands. Team Expansion: Example: Growing your team from 5 to 20 employees, including key hires in sales and product development. Tip: Highlight strategic hires that bring valuable skills and experience to your team. Investors are not just investing in a product but in the people who will drive its success. 📈 Why These Milestones Matter: Validation: Demonstrating tangible growth reassures investors that your business model works and has the potential for scalability. Confidence: Clear milestones provide a roadmap, showing that you have a strategic plan in place. Attractiveness: Startups that show significant progress are more attractive to investors, as they reduce perceived risk and promise higher returns. 🔧 Tips for Setting and Achieving Milestones: Be Specific: Set clear, measurable, and time-bound goals. Prioritize: Focus on milestones that directly impact your key growth drivers. Track Progress: Use tools like OKRs (Objectives and Key Results) to monitor your progress and adjust your strategies as needed. Communicate: Regularly update your investors on your progress. Transparency builds trust and keeps investors engaged. Remember, investors are looking for proof that your startup is a worthwhile investment. By setting and achieving specific growth milestones, you can provide the evidence they need to invest in your vision. #StartupSuccess #GrowthMilestones #Fundraising #InvestorRelations #Entrepreneurship