Formal written business plans are becoming less important to investors for a number of reasons, Sam Hogg writes. “Written plans are static, but startups are dynamic.” Also, the financial data in such plans are generally made up and product demonstrations are typically more useful for showing what a new piece of technology can do, he explains READ Entrepreneur online.
MORE RECOMMENDED READING
The Personality Types That Combine to Make a Balanced, Successful Startup
Every startup can benefit from having employees with certain personality types on board, writes Jon Stein of Betterment. For example, companies need people who are adept at management to turn dreams into reality. “The manager understands that while the team needs a vision, it also needs tangible tasks to execute,” he writes. Other vital types include the builder, the workhorse and the social butterfly. READ Fast Company online.
Why Startup Founders Should Take a Global Approach
No matter the nature of your business, it pays to think about it in a global context, Minda Zetlin writes. “[C]onsidering a global strategy from the moment you launch your business can set you up for greater flexibility and much faster growth,” she writes. Using this strategy can help you to avoid mistakes that might make international expansion more difficult later. And you already have an advantage in the global marketplace because you speak English, she notes. READ Inc. online.
Ponder The User Experience to Produce A Better Pitch
You can improve your fundraising pitches by following the principles of user experience and presenting your ideas in an easy-to-follow manner, writes Mark Peter Davis of Kohort. Each presentation slide should be designed to communicate one idea, he writes. “Remember that the more concepts you pack into your message, the fewer people will actually understand it,” he writes. READ Inc. online/Venturer blog.
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Graziadio Voice: Entrepreneurs & Innovators
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