Attributes of Early Underserved Startups
We found many early Startups are:
- Passionate
- Dedicated and Determined
- Extremely hard working to build small successful/profitable businesses
- Proved their basic business concept (MVP)
- Mostly: One founder without a team
- Consumed or spends most of their time holding the business together
- Have a pretty good idea with great promise
- Have a concept or need that can be scaled or used by a lot of customers
- ...
Areas of Need and Concern
Following are just a few consistent concerns:
- Have little money or access to it
- Have the mindset that they have to micro manage EVERYTHING (regardless of skills)
- Needs help in many areas including staffing, advisors, Sales/Mkt, etc
- Have little time to plan ahead
- Needs major tech development and advise
- Have little knowledge of the Startup EcoSystem
- - Such as: (Accelerators, pitch contest, convertible notes, SXSW, Tech hubs, Underserved successes, events, etc)
- Needs some seed money/funding and financial advise
On the Goal of Exponential Growth
We asked questions in regards to expansion and found:
- There is little or no concrete idea or written plan on growth
- After thinking of expansion, the high level plan was severly lacking
- Also after thinking, increases were small (1X-3X) with self-directed implementation
- There was little or no real strategy or plan to address current issues/concerns
- There was no real help in most identified areas
- With no Startup knowledge, there was no ability of using the vast new Startup methods and opportunities
- Ask them about their business at a high level
- Specifically ask about their major revenue streams
At the End of the Day,
eaAdvizors Sees A Great Opportunity
for
Underserved Startupsl!!
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John Doe
Designer