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Phase 2 – The Pitch. In The Pitch phase, you essentially take what you learned about your market’s pain points from the exploration phase to create an offer in exchange for currency. Trevor Owens shows how he uses the Exploration and Pitch method to validate a Vespa Rental business. image source. image source.
Do you have a minimumviableproduct (MVP)? Some accelerators work with marketing technology companies, while others specialize in finance technology. Look for a program that aligns with your product and business as the education and mentorship resources will follow suit. Can you articulate your challenges?
Seed: This is the initial stage of funding, and is generally used to employ the founding team and begin market research and product development. The company is past the MVP (minimumviableproduct) and is showing initial signs of success. With that being said, stop using your standard pitch decks.
This capital helps a startup finance its first steps, like conducting product research, launching a product, marketing to a target audience, and building an audience. Plenty of options exist for financing your startup through loans. It depends largely on your business idea, your background, and your access to financing.
Lucky people pitch often. In the long run, it’s better to focus on developing a minimumviableproduct , launching, and optimizing based on feedback, rather than trying to get it right the first time with an untested idea of a “perfect” product. That said, there are some less obvious benefits of equity financing.
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