If you are not a regular follower of Venture Hacks, you need to start. Nivi and Naval are on the cutting edge of new venture creation, especially ICT related startups. I will talk more about them in a future post. I just wanted to comment on their post – Anatomy of an (un)fundable startup.
Naval points out that there are a few key elements to an “exceptional” startup. He states that while there are many of additional qualities, the top five in order are:
1. Traction
2. Team
3. Product
4. Social Proof
5. Pitch/Presentation
This is outstanding presentation which is chock full of ideas and usable tips. Here are the slides.
However, the most important word is FUNDABLE. If you are trying to build a fundable startup these ideas are important. But only a few percent of all startups are fundable. Entrepreneurs may aspire to a fundable sartup, but there are very, very, very few. Furthermore, most startups shouldn’t even think about external capital during the startup phase. Rather they should focus on developing a scalable business model.
A fundable startup is inherently different in many respect than a “normal” startup. So yes, please read this presentation. It is really gold, BUT don’t confuse a fundable startup with your startup, unless you are one of the very, very few.
