If you missed part 1 and 2, see From MVP to VC: Strategic Non-Starters and How to Avoid Them (part 1) and Don’t Tell Me About The Labor Pains, Show Me the Baby (part 2)
Shaping the Future: From What’s Now to What’s Next
You start a business because you see a gap and/or figure out a better way to do something. You build your MVP which has just enough feature to be functional. That’s the now.
When seeking investment capital to fund your startup, you are focused on securing the money to make that ‘now’ happen. But what’s next?
Depending on your industry, investors will expect their pay back within the next 3 to 5 years. How do you ensure that your shiny and magical solution of today will not only be relevant but innovative in the next 3 to 5 years and beyond?
Looking at industry trends and forecast, as well as constant technological advancements, what skill set do you need to acquire tomorrow? In which new ways will you deliver your solution tomorrow? If you still don’t see yourself as a tech company, think again!
Investors want to know how you will sustain your competitive edge. As we speak, there is someone out there that wants to eat your lunch tomorrow! Maybe they are not in your geographical area. Maybe they are not yet on the market but have already secured funding to deliver tomorrow’s solution today. A great way to understand what tomorrow’s competitive landscape will look like is to read news reports from investors such as Gust, PitchBook, and CB Insights.
Author: Carine Dieudé, Partner, Director of Strategy, Entrepreneurship Aficionado – Growth and exit strategies, systems and operations, for startup, small and medium-sized businesses.
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