We see many new ventures which can’t articulate a compelling, investable business concept. Here are some tools to help.
Articulate your Business Concept
Use this question template to help flesh out the gaps in your business concept, and make it stronger.
List of key Business Concept ingredients, and question template.
Lectures: Investable Business Concept
In these live lecture recordings, you can hear Richard Caro talk about:
- the key ingredients of a strong, investable Business Concept;
Business Concept Ingredients: video + slides (8 mins) - what happens when you put off thinking about the business concept details until the technology is “proven”.
Avoid the Valley of Death: details, lecture, slides
Refine and strengthen the business concept
Use the template and background material above to prepare a first draft of your business concept. As soon as possible, get feedback from someone who is used to evaluating new business concepts. Then iterate and refine.
Get input on questions like these:
- Are there obvious problems with the business you have overlooked?
- Have you dug deeply enough, and answered questions in sufficient detail?
- How do you go about finding answers to the unanswered questions?
- How do you add credibility to your business concept with “proof points”?
- What extra questions might investors ask?
- What is the most compelling way to articulate your business concept?
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