Startup Exercise: What can't be solved with money? (2011)
a day ago
- #fundraising
- #business-strategy
- #startups
- Investors need to see how money can solve key business problems.
- Great team members are scarce and can't be found with money alone, but money helps retain them.
- Marketing can often be solved with money, except for building authority (e.g., blogging, social media).
- Money accelerates execution but not exploration (e.g., knowing what to code, how to convert leads).
- To raise money effectively, demonstrate how money will fix current gaps and show mastery of non-monetary skills.
- Prove adaptability and learning through concrete examples, not just Lean Startup buzzwords.
- Non-monetary skills (e.g., problem-solving, creativity) are the most valuable, especially when combined with funding.