You shut up, your product sucks!

Introduction: And look at an investor's point of view, entrepreneurs to investors pitch the most likely to fail, and how should entrepreneurs avoid this situation?

Plot

Well, you're in an investor's office right now, and you've got a chance to get your start-up to face investors.

You're classics the hype, and she always seems to be listening carefully and nodding her head at times to say yes. Your whole length of time is like a flowing cloud has been praised for your product has been unparalleled to fight all over the world without a rival future bright, and she is very appreciative of the blueprint you described. Finally you elated smiling endure not to bounce hum a minor to leave her office to wait for the news. Finally ages Ganchangcunduan emaciated, and then, no more then ...

Heaven, what is wrong with my pitch?

As an entrepreneur, we spend a lot of time building our products. How well do we know our products? In a Tuesday when you picked up your phone and tilted 75 degrees to play your app and found that the scenario should have been tilted 75 degrees to actually rotate the 90 degree angle, we are familiar with in this case can know exactly which file the first few lines of code there is a problem!

And as investors, we support the company. Our focus is on the future potential of the business you are building. What we want to know is how you can bring a new surprise to us in the market area we are familiar with.

Love your product, but don't know anything about the market or the team? If you want the investor to throw money at you, I'm afraid your dad will be beyond resurrection (if your dad is big and maybe still in it), or you'll be easily replaced by others in this situation.

As entrepreneurs, we feel comfortable when discussing the products we build. Our products are made by ourselves, like our children, so we are happy to hear positive feedback from others about our products. Entrepreneurs can communicate with each other endlessly until they feel that the product is so real and so bright, and the head is a shot, thinking that a brand-new company will be flat, and investors will throw in a lot of money to smash you dizzy.

As entrepreneurs, we find it difficult to discuss market and business potential. There is too much uncertainty. So entrepreneurs prefer the words "we have an investment in the team," or "What you mean by the expected return is nonsense." "Please allow us to do pitch for the product, and stop talking about the market and what the potential of business development is." You see, that's a lot easier to say.

You should do this before lobbying for investors (Pitch)

Here's what you should be prepared for before you go to the investor pitch:

• Open a Exel document. Figure out how much you will need to invest if you want to achieve an average return of 1 billion (ARR) within five years. How long does it take to reach this goal? Is this realistic for you? Don't talk to me about "if it's optimistic," I want reality. Your goal is to find the "top" position of the business. "Touch Top" means that your business has reached the top of a certain growth, even if jobs reincarnation the point.

• Get a good idea of what you need to spend the last few years of your business. No matter what number you figure out, add a 50 percentage, because I'm pretty sure you're too optimistic.

• Figure out the past, present and future of the market you want to enter. More than the graduates who have just graduated from Stanford Business School to get a job as an investment bank intern.

• Stop falling in love with your product. The best thing to do is try to kill your product and try to nip it in the cradle before it is born. Or start all over again. In any case, the aim is to make the product invisible to the sun tomorrow. (Heaven Zhuhai Branch Rudder Note: This view of the description please refer to my other article, "Great creative test 10-How to test whether your ideas are suitable for supporting your business")

Falling in love with your own ideas is a very easy thing-after all, it's your own child. And no one will say to you that your child is ugly. So the positive support is usually not lacking.

When your ideas are just "creative", the more you need to do is to prove that your ideas are rubbish (Heaven Zhuhai Branch rudder Note: When it comes to proving something, it is often necessary to prove what it is not). Try to find out the negative aspects of your ideas and kill them, and finally you will get a more solid foundation of ideas to support your entrepreneurial path.

Frankly, I'm not excited about the special features and UI elements of a product, because I spend more time thinking behind the product, what it's about, and what it's doing right now or in the future to completely stick to the user's functional point. I love the early days when I struggled to get users to spend 5 minutes a day, and had a clear plan to allow users to spend a longer time in a limited time. We have 1,440 minutes every day, how will you allow users to spend as much time as possible in your product every day? And how long does it take to reach it?

Another benefit of less falling in love with your product is that you will no longer (when doing pitch) because your product still has a lot of features that are incomplete and embarrassing to be embarrassed.

It's important to understand that investors are smart and they can see that there are problems with your product at a glance. After all, if your product is impeccable, you won't come to our office to do pitch, right?

In fact, love your product is not wrong, but you should be targeted at your business to do pitch. After all, you have to have both the fish and your paw-to catch investors and attract users, not just users.

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You shut up, your product sucks!