This article is a free resource from the TechMeetups Guru Program where Marc Taverner is participating as our Entrepreneurship Guru to assist founders of startups and business leaders though practical workshops and mentoring.
5 Startup Sanity Checks from the Sharp Side
1.Be honest with yourself.
Have you just got a great idea or a real start up with a plan? There’s no right or wrong answer and yes you need an idea first!But I see many really bright and great people where the only real differentiator is how a solid plan has been crafted from a good (not always great
2.It’s all about the customers.
Your proposition has to be able to appeal to customers and create value for them. If you can’t demonstrate that people will pay for your offer then it’s unlikely you’ll attract investor interest.
3.Being a start-up is OK!
Don’t be afraid to test your proposition with real customers, learn and then refine the offer. A perfect proposition built to your own specification is less marketable than one that’s constantly evolving to satisfy paying customers
4.Show me the money.
Don’t be afraid to charge what you feel your proposition is worth and be sure you get paid. A start up needs cash & the best & cheapest way to get cash is to sell what you’ve got or can do.
5.Don’t be too proud.
Recognise that in the Value Chain from factory gate to end customer, your start-up might not be the best at everything. If you find a partner with great complimentary skills do carefully consider what value they may bring
As part of the Guru Program and through his work Marc is available to discuss, review progress and coach on Sales, Business Development, Distribution, Partnership and General Management topics. He draws on 19 years experience working in global technology companies as well founding, investing in and working with start-ups.
In the corporate world, Marc has worked in fast growing & highly acquisitive, listed & privately held technology companies.
Some of his experience includes:
- Developing and deploying a Technology Distribution Model across 11 countries to create over £5m of new revenue in 10 months.
- Accelerating a conference call business from £6m – £26m in 3 years
- Creating a business unit to pioneer the use of Rich Media in UK Investor Relations
Marc also knows about the fun and challenges of start-ups;
- He created a white label, fax modem business which took almost 5% of the UK market from US Robotics
- And built an educational content aggregation platform which delivered £400k of sales in year 1.
As investor, mentor and consultant his portfolio includes:
Conference Call provider- In Communications
Learning Platform solutions – Prime Principle
Social Media app - BidderPal
Board Game manufacturer – Circa Circa
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You can find out more about the TechMeetups Guru Program here or register using the form below to attend in person or participate in the course remotely from anywhere in the world.