Some important pre investment questions
Please be prepared with the answers to the following questions so that we may have a better idea of your dream
1. What is your company going to make?
2. How do you know customers need what you’re making?
3. What part of your project are you going to build first?
4. How are you meeting customers?
5. How is your product different?
6. What is your distribution strategy?
7. Six months from now, what’s going to be your biggest problem?
8. Tell us something surprising you have done.
9. What’s the biggest mistake you have made?
10. How do or will you make money? How much could you make? (We realize you can’t know
precisely, but give your best estimate.)
11. Who are your competitors?
12. What are the key things about your field that outsiders don’t understand?
13. What makes new users try you?
14. Please tell us in one or two sentences about the most impressive thing other than this startup that each founder has built or achieved.
15. Why isn’t someone already doing this?
16. If someone funds you, which of the founders will commit to working exclusively (no school, no other jobs) on this project for the next year?
17. Do any founders have commitments in the future (e.g. finishing college, going to grad school), and if so what?
18. Are any of the following true? (a) You are the only founder. (b) You are a student who may return to school when the next term starts. (c) Half or more of your group can’t move cities. (d) One or more founders will keep their current jobs. (Answering yes doesn’t disqualify you. It’s just to remind us to check.)
19. Please tell us something surprising or amusing that one of you has discovered. (The answer need not be related to your project.)
20. Are you a (a) Designer, (b) Coder, (c) Developer, (d) Have experience in any specific field? If so, what?
(These questions are influenced by our knowledge of numerous articles about what people like Paul Graham / Dave Mclure may want you to tell them)
You must read this other note before you start putting together the different presentation pieces of your idea.