I found valuable takeaways from the interview with Mark Fernandes on Metix Strategy. Here’s a few bullet points to remember if you’re a founder of an early stage startup.
- Ability to keep the company funded over time
If they have to have the ability to raise money, not just in the early stages but down the road because the only thing that kills companies is running out of money.
- Ability to generate momentum
Momentum is defined differently. In the early stages, it’s about making sure that this market-product fits, getting customers engaged with you. The second part is about getting partners engaged with you and building out the ecosystem around it and finding customers and developing a business model.
- Ability to attract talent
We look not only at the entrepreneur but also at the extended team and see if the founders have been able to attract that next layer of talent around them which is absolutely critical
It’s about raising money, attracting talent and generating momentum. It’s a very subjective assessment, in addition to market theme and technology.