It was pretty great. He said something I didn’t figure out before: In the book, they don’t talk about the product in the ‘post-its’, but you should. It will help you explain your business to other people. Pretty obvious, right? Yeah, but somehow I always tried to keep it down to a post-it lenght :/
Reviewing our canvas, something Paul Graham once said about Customer Segments (I don’t remember where) really got me: You should not think only about how desperately your customers need your solution. You also have to take an account on how quick they can make decisions, specially if you’re working in a corporate solution.
The anatomy of a fundable startup
1. Traction – You need 20% a month growth to look like a hot company.
2. Team – One seller, the rest builders.
3. Product – Angels usually wait until launch to invest.
4. Social proof – If you have to rely on social proof to get funded, maybe you don’t have a business.
5. Pitch/ Presentation – It’s important, but it’s not everything.