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16 Things That Indicate You're An Entrepreneur Who Gets It
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16 Things That Indicate You're An Entrepreneur Who Gets It

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    16 Things That Indicate You're An Entrepreneur Who Gets It 16 Things That Indicate You're An Entrepreneur Who Gets It Presentation Transcript

    • 16 Things That Indicate You’re An Entrepreneur Who “Gets It”
    • Many founders want to know, “How do you meet investors?”
    • Generally speaking, here are 7 steps: Be at an event, or get introduced Give your 1-2 minute pitch Trade business cards Ask for a coffee meeting Run through your 20 minute slide deck Make it through a 45 minute ass-kicking interrogation & unsolicited advice Send a follow up email
    • That’s it. …simple, right?
    • Here’s something to think about: What is really happening during that series of interactions?
    • In other words, in 7 steps and 60 minutes or less, what criteria are you being evaluated you on?
    • It can be summed up as, “things that indicate you get it”.
    • Here are 16 things you may be asked or evaluated on (even if not directly asked!), meant to extract information to confirm whether or not, you “get it”.
    • 16 Things Across 4 Categories Intangibles: biz savvy, ego, appearance Traction: scorecard of accomplishments Execution: the ability to “get shit done” Concept Viability: can this make money?
      • “ Have they made progress since our last meeting?"
      • “ Do they appear professional, prepped for the meeting, and can they talk succinctly about the concept?"
      • “ Can this entrepreneur partner & delegate effectively?”
      • “ Does the team work well together, are they free from burnout strain, are there any underlying major issues between cofounders, partners, clients, etc.?”
      • Rapid-fire critical questions that appear to undermine your competence or attack your idea.
      • “ Is the entrepreneur just living the "lifestyle" of being an entrepreneur, or are they making strategic business decisions consistently that will prevent unnecessary risk/loss?”
      Intangibles
      • "Where is the product at, in terms of development, and how long have you been working on it?"
      • "Who is working with you on this project?"
      • "What has been invested so far, and what has it been used for? Let's take a look at your pro formas."
      • “ Who has invested in the concept so far? What partners are on board?”
      Traction
      • “ What have you done so far being self-funded? What are you currently working on? What will you do if you are not funded, versus if you are?”
      • “ What kind of mishaps/big problems has the entrepreneur faced in the project—and how have they handled them?”
      • “ Is the entrepreneur dropping the ball on a regular basis, or are they able to manage multiple high priorities successfully?”
      Execution
      • "What's the market?“
      • "What kind of reception are you getting in the market, and when is your next release?“
      • "What is your revenue model, and where are you at in terms of revenue?"
      Concept Viability
    • What Do You Get By “Getting It”?
      • Credibility
        • Founders don’t have job reviews. Professional credibility as an entrepreneur is based on what your network thinks of you.
      • Real feedback on how you stack up
        • A venture professional sees hundreds or thousands of deals in a year. You see mainly one– yours. Their opinion may not be something you’re excited about, but the perspective is invaluable.
      • Passing the gatekeepers
        • You get one coffee for free. Everything else, you pay for. Unless you can get past gatekeepers and tap into hidden and/or free resources in the network.
    • But being an entrepreneur who gets it, is not about saying the right things, just to have good meetings.
    • It’s about running a great startup.
    • Because investors see so many startups on a constant basis, meeting with them is an easy way to gauge how your startup is doing.
    • Portland needs great startups, run by willing and able founders like you. Being an entrepreneur is already difficult, but when you step up your game, it actually gets a little easier.
    • Now that you know the 16 things... Are you an entrepreneur “who gets it”?