Mon, 11 April 2022
Diligencing the Team for Skills
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In diligencing the team, here are some key areas to check:
Sales skills -- the CEO and others must be able to sell their product or service.
In the early stages of a startup, there won’t be a dedicated sales force, and everyone on the team must be able to sell.
Technical skills -- the CEO and the team must be tech-savvy as they will be building products and selling customers around that technology.
Those who don’t understand their technology will have a hard time convincing others of its worth.
Customer awareness -- the CEO and the team must know their customers well, including their problems, their budgets, and their careabouts.
I find one of the biggest indicators of success is how well the team knows their customer.
Market awareness -- the CEO and the team must know their market well.
This goes beyond just the general size and growth rates of the market and includes knowledge of key players in the market.
Competition awareness -- the CEO and the team must know who their direct competitors are and have some idea of the competitors’ strengths and weaknesses.
Before investing in a startup, check on these points.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
For more episodes from Investor Connect, please visit the site at: http://investorconnect.org
For Feedback please contact email@example.com
Please follow, share, and leave a review.
Music courtesy of Bensound.