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Archive for January, 2017

Questions to date for: The Entrepreneur Communities Crazy Focus on Investment Versus Customers

Posted on: January 16th, 2017 | by tmpadmin

Here’s a quick highlight of some participant questions that have been posed for this week’s webinar – The Entrepreneur Communities Crazy Focus on Investment Versus Customers. For more details or to register click here.

The question we posed:

  • What questions or challenges do you have related to focusing your students & entrepreneurs on customer discovery and customer development?

Some of the questions our participants have asked:

  • What techniques work best in getting students to focus on customer discovery and customer development? How have you redone your competitions to reflect the focus on customer discovery and customer development?
  • Last year, I prepared a feasibility study for a group interested in having an entrepreneurial event/pitch.  My research matched exactly what you are saying so the event was postponed. I am interested in hearing this webinar. In Dallas, our accelerators that are not university backed are struggling. Are university backed incubators/accelerators the only ones that will survive because the university rather than the market has more tolerance for risk?
  • How do we get our ventures to do appropriate research such as contacting at least 50 contacts who you share your innovation with and get their feedback?
  • How do we get beyond the “glamorization” of raising a round of funding and showing them that there are other ways to access capital?
  • Great topic as you’ve laid it out people get fixated on the wrong metrics and look for short term cash flow vs long term marketplace traction
  • Too much focus on the product and how it should be delivered vs. how it can be delivered in a way that addresses a clearly articulated and defined problem.
  • Our organization is funded by sponsorships and metrics based on ventures getting investments. How do we re-focus and keep everyone engaged?
  • Getting students to think realistically?
  • Our founders struggle with asking customers questions in such a way that they avoid receiving false positives?
  • Convincing students (and other organizers) of the value of customer discovery is a challenge?
  • How do I maximize customer advice?

Register and Ask You Question CLICK HERE

 

About

Test My Pitch – Private communication skill development platform. Think Toastmasters online. Engage, empower and accelerate your communities communication confidence and competence.

Ask us how we can help you successfully democratize pitch event results in your community. Email or call Bill Kenney today at bkenney@testmypitch.com or +1 (860) 573-4821.

 

Be Interesting

Posted on: January 5th, 2017 | by Bill Kenney

LLV Demo Day 130626If you want somebody to be interested in you then you need to be interesting. Ecosystems and event organizers all around the world are hosting events to attract investors for local ventures. While this is an admirable endeavor it is creating significant marketplace inefficiencies.

What are investors interested in? To generalize, investors are interested in minimizing risk and maximizing return. Yet the events that they are PULLED to have only a small minority of ventures that are investable. This isn’t to say that these are bad ventures. Many are fine potential businesses but most will not grow fast enough or to a significant enough size to give an investor a reasonable return on their capital.

What then makes a venture interesting? What helps de-risk an investment? What will make investors PUSH to be included in your events and community? The answer is simple…ventures with CUSTOMERS!

This is just a quick sample of one of the topics that we’ll be talking about in the January 19 webinar The Entrepreneur Communities Crazy Focus on Investment vs. Customers. Learn more and join us here.