Wednesday, April 25, 2012

Advice from Startup Weekend

I had some colleagues attend Startup weekend and this is the advice they came back with.

When you have an idea that you want to pursue, in the order of importance this is what investors consider before placing their money where your mouth is.

1.  The concept is worth something to somebody
2.  There is a viable business model to accompany the concept
3.  You know how to execute

Get the 'MVP' the Minimum viable product out the door and fail and learn quickly to quickly develop a quality product and deliver something that the customer wants.  Learn early and Learn often.

It is not as important that you are able to build the prototype right away, but that you believe thant you can build the prototype.