Business Investment Questions Answered
So the other day the founder of one of our portfolio companies did a business investment product demo before some investors.
Impressed with the product, the investor, however, observed that the product might be too clunky for shipping. He wondered if it were possible for a product to fit a certain shipping parameter that he was sure would give the already-impressive product another edge in the market.
As told by Brett, everyone agreed it would be worth the founder’s time to explore possible solutions to address the investor’s suggestions. Then the product demo was continued and wrapped up.
This was at about 4 pm.
By 2 am the following morning, the founder had the answer for the business investment questions.
He has completely re-invented the product?to fit the ideal weight and shipping parameters required to take the product to market.
The founder was following in the footsteps of the best WHY-driven entrepreneurs. His WHY is iron-clad. He has seen his target market’s future and his product is a bridge to that future.
For this founder, with such a strong WHY, the HOW is a matter of time, resourcefulness and focus.
How about you? Have you figured out your WHY yet? Why are you building your product, service, and business? (Hint: I hope it’s not just because you see an opportunity to make fast money).
Here’s why having a strong enough WHY is imperative to your startup’s survival:
Starting a business investment from scratch is hard and risky work. If it were not, every employee in Dilbertville would start one. When all hell breaks loose (it’s payday and your account is in the red, a key client cancels and leaves a gaping hole in your projections, the current iteration of your product fails, your spouse gets jealous of the time you are spending on the business and call the nearest $99-divorce lawyer), your WHY might be all you have left to see you through.
If your WHY is strong enough, no HOW can stop you.