Judge a venture in 15 seconds

Just read How to judge a new venture in 15 seconds. and wanted to pass it on as great advice.

“What problem will your new venture solve?”  Their one-or two-sentence answers—10 or 15 seconds at the most—are often enough to predict the future.

Why? Because a new venture—any venture—needs focus.  It needs a purpose.  It has to solve an important customer problem and in some small way, improve the world.

An entrepreneur needs to develop a product, construct a compelling value proposition, gather resources and people, and figure out marketing and pricing, to say nothing of the challenges of leadership.  But a relentless focus on customer pain gives a visionary founder a lot more cushion to work through the inevitable difficulties.

So, as an entrepreneur, we advise that you start by looking for trouble.  Brainstorm things that people find disturbing, frustrating, urgent, or uncomfortable. Then, switch gears and develop cures.  Focus on healing.  Figure out how to make the pain go away and build a new venture around it, and articulate it to advisors and stakeholders.

Categories Tech Love

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