All good ideas, they say, have been thought of before. But, before you throw out your company strategy, remember that the execution and people behind it are far more crucial than the idea itself.
So often see founders become extremely fixated on their product, creating blind spots for other success factors. They believe that the market will adopt a good product and entice investors and the general public to go onboard.
There are questions they often forget to ask:
- Is this a viable business concept?
- Is it a lifestyle business or one with the potential for rapid growth and a significant exit?
- Will it be aided by seed funding or perhaps crowdfunding?
The real reason investors analyze a startup company is to see if it can develop quickly. Watch the video to evaluate your startup idea.