Does Anybody Need What You Are Selling? 
     

This has to be one of the first questions that an entrepreneur asks themselves before committing to an idea or venture. Successful start-up are usually based on filling a defined customer need or providing a solution to an existing problem. The need itself doesn’t have to be basic; it can be based on fashion or social trends, but your solution has to fill an existing gap. It is eminently more difficult to start generating cash flow and raise capital based on the assumption that demand will follow supply. Forging new markets is noble, but generating cash flow from existing ones speaks louder to investors.

Other resources

  • Top Business Plan Mistakes to Avoid
    Even the best business idea and most competent management team will fail to raise capital if the company’s business plan is of poor quality or contains avoidable errors. The following are some of the most important mistakes to avoid.
    Read more: Top Business Plan Mistakes
  • How to Deliver a Winning Business Plan Presentation
    While a strong business idea and a well written plan may generate the interest of equity providers, investors ultimately commit capital to people and not just plans. The ability to produce and present a compelling presentation of the company’s potential and management’s capability is therefore one of the most critical aspects of actually securing funding.
    Read more: Business Plan Presentation
 

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