4 minutes of wisdom from Bill Morrow (Angels Den founder)
After hearing the story of how he came to set up Angels Den he set out the five questions start-ups have to answer to secure funding from Angels, perhaps interesting is to hear where most fail; I wanted to share it with you so here it is:
Note: this recording was made off my phone so it’s not amazing… and yes, I did ask Bill if it was ok to post it online! (especially to share with the Startup-Meetup group on LinkedIn)
- What do you do?
- What is the pain in the marketplace that you solve?
- How do you solve that pain?
- How do you differentiate yourself from your competitors in the market place?
- How much money do you need? (& does the money you ask for show a relation to the valuation I put on your company?)
I especially liked his openness about failure, one for a future Failure Swapshop perhaps?