Customer Traction – Key to Raising $$

Frustrated Investors

Investors are frustrated by the lack of customer traction and revenue they see in venture companies.  They especially don’t like finding out that there has been little customer engagement during product development and business planning.

Unfortunately, most tech entrepreneurs are unable to get access to enough customers or are not comfortable doing so and asking questions.  But it is exactly those answers that a venture needs to hear early on in order to succeed.  (PreFlight Ventures can provide these connections for you)

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Tips on Pursuing Corporate Partners & Making Deals Happen

1.  You can’t sell anything to anyone.  You have to help them buy.

2.  You must connect what you have into a current project or top management directive that they have.  Make them look good to their management and you will win.

3.  “The art of raising money is the art of reducing risk!”  This is even more essential to doing CP deals.

4.  Spend a lot of time learning about and talking about their customers — what problems trying to solve, how address now, their market pressures, requirement to get them to try new products, price sensitivity, etc.  This also build your relationship and trust with the CP.

5.  Corporate partner deals happen when you help them believe that you will grow their businessnot when you impress them with your technology.

6.  Keep in mind that corporate managers are first & foremost “employees”, and they rightfully will look out to protect their position in the company who pays them way before taking risk trying out your new innovation.


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