INGNITE
Why Founders Fail
Building a business is fundamentally different than building a product
What does it take to successfully build a startup? My take:
Leadership strength and relevant acumen
Deep, strong primary and secondary research backed with data
A three year business plan with realistic forecasting that can be vetted
A viable product or service and an addressable market has been identified
A fully developed GTM deployment and sales model
Some Common Mistakes
Product over Business
Technical founders are often more focused on building the solution — the model, the code, the architecture, than they are on building a business. “Build it and they will come" almost never works.
Tech over OPS
Founders coming from tech, engineering, academia, or research may not have a strong understanding of how to manage the business of a startup. As a result, essential elements like reliable forecasts, scalable GTM strategies, built-in metrics, a differentiated value proposition, vetted and addressable market - take second seat.
Buzz over basics
The startup ecosystem (especially in AI) often rewards buzz over basics. Media and fundraising success stories spotlight breakthrough ideas - relegating less glittering but critical essentials like cash flow, churn, CAS, GTM somewhere in the background. Hype might open doors, but real traction and long-term value come from basic fundamentals.
“Vision” over Selling
Some founders may have had to face the cold, uncomfortable process of selling. It is easy to underestimate how difficult it is to get someone to pay for anything — let alone an emerging AI-powered solution.
Real data excites investors far more than stratospheric hype
How to succeed
Provide a clear line of sight into the risks and pitfalls that threaten your success and propose tangible strategies to mitigate your risk
Identify buyer markets that demonstrate the means and attributes required to sustain adoption and purchase over time
Design intelligent research methods that include AI powered platforms and advanced analytics
Use behavioural, social, cultural, economic, firmographic and demographic buyer profiling to build reliable near and far term adoption curves and spend forecasts
Answer these questions:
Who are your tier one, two and three customers? Have you clearly identified unmet demand in these buyer groups?
Can you quantify this demand, over time?
What are the barriers to adoption?
How big is the overall market potential? Are your forecasts based on solid data?
How reliable is your adoption timeline? What methods did you use to quantify your opportunity?
Do you clearly understand your play in this competitive landscape? Who are the players? How are you different?
Can you clearly articulate your value proposition?
Are you creating a novel solution or tweaking an existing one? How does this impact your business plan?
What research and data analytics tools have you used to quantify your opportunities?
Can you solidly speak to your go to market strategy? Sales and distribution model? Partnerships and alliances?
Does your plan instil the confidence, enthusiasm and commitment required to gain investor trust?
Let us be your partner in helping you make it to the finish line, and surpass it.
Own the World
A solid business plan backed with solid data can make all the difference in investor confidence