This Week – Working On An Ideation AI-Startup With A Founder Who Previously Raised $100m.
When you already raise, the journey becomes easier.
I’m usually very critical when it comes to ideation startups. Any person could come up with an idea. Only a few can actually execute those ideas properly.
Yet, I don’t refuse to work with new entrepreneurs. I actually love the enthusiasm that exists in most of them, and I always tell them one thing: It’s going to be very difficult, then even more difficult, and then it’ll be slightly easier.
Here’s what we’ll chat about in this short read:
“I have an idea for a startup” – The list of things you need to NOT do.
"I need to raise funds” – You probably don’t.
(For Paid Subscribers) How the pitch deck storyboard varies greatly based on the founder’s experience.
Startup Ideas Are Almost Worthless.
I wanted to say “worthless” instead of “almost worthless.” But something stopped me from doing so. Startup ideas are as many as raindrops on a stormy evening. You just had one; someone else just had another. Millions are having ideas at this exact moment.
Only a few turn those ideas into successful businesses. Why do you think that is?
I’ve worked with hundreds of companies, some of which raised a ton of money and others who failed. Transforming an idea into a business requires some traits that have nothing to do with business but everything to do with being human:
Patience: Most people fail because of that. They don’t have what it takes to wait for long.
Consistency: They would skip a day or two and just get back to it. Then they’d skip a week or two. Then, a year or two. Then they’d stop.
Self-awareness: Knowing that they can’t do this alone; they need help and will have to ask for it.
Working with companies who pull this off, I can assure you that those traits are extremely difficult to obtain in our fast-paced world.
Now, the problem with a fast-paced world is that everything is expected to finish up quickly, including the growth of your company. What’s the easiest way to do this quickly? Money.
Fundraising Is Never Option#1.
It sounds logical, but it’s quite catastrophic. People call me and tell me they have ideas that they need $50 billion to create.
Some ideas are costly. You can’t build a spaceship with $1,000. But you can work on your research, pitch it to someone, and slowly grow your idea.
Following the fast way is not a healthy option. Think of it as similar to building your body. You can use some illegal drugs that get you ripped in no time. Alternatively, you can be patient and grow your body properly.
A startup is no different. You need to learn; this takes time.
The Founder And The Pitch Deck
When I work on an investor presentation, I start with a storyboard. This storyboard tells the story of what the startup does. It’s critical to pitch it properly in order to tell the story right. Now when, the founder’s role in this storyboard couldn’t have been more important.
How and when do we pitch what the founder knows in the investor presentation?
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