When using technology, we often focus optimistically on all the things it does for us.
Want to start a startup? Get funded by Y Combinator. August When people hurt themselves lifting heavy things, it's usually because they try to lift with their back. The right way to lift heavy things is to let your legs do the work.
Inexperienced founders make the same mistake when trying to convince investors.
They try to convince with their pitch. Most would be better off if they let their startup do the work — if they started Essays on being successful understanding why their startup is worth investing in, then simply explained this well to investors.
Investors are looking for startups that will be very successful. But that test is not as simple as it sounds. In startups, as in a lot of other domains, the distribution of outcomes follows a power law, but in startups the curve is startlingly steep.
The big successes are so big they dwarf the rest. And since there are only a handful each year the conventional wisdom is 15investors treat "big success" as if it were binary. Most are interested in you if you seem like you have a chance, however small, of being one of the 15 big successes, and otherwise not.
But angel investors like big successes too. How do you seem like you'll be one of the big successes? You need three things: Formidable The most important ingredient is formidable founders.
Most investors decide in the first few minutes whether you seem like a winner or a loser, and once their opinion is set it's hard to change. If investors think you're a winner they focus on the former, and if not they focus on the latter.
For example, it might be a rich market, but with a slow sales cycle. If investors are impressed with you as founders, they say they want to invest because it's a rich market, and if not, they say they can't invest because of the slow sales cycle.
They're not necessarily trying to mislead you. Most investors are genuinely unclear in their own minds why they like or dislike startups. If you seem like a winner, they'll like your idea more.
But don't be too smug about this weakness of theirs, because you have it too; almost everyone does. There is a role for ideas of course. They're fuel for the fire that starts with liking the founders. Once investors like you, you'll see them reaching for ideas: A formidable person is one who seems like they'll get what they want, regardless of whatever obstacles are in the way.
Formidable is close to confident, except that someone could be confident and mistaken. Formidable is roughly justifiably confident. There are a handful of people who are really good at seeming formidable — some because they actually are very formidable and just let it show, and others because they are more or less con artists.Does my instructor want me to compare AND contrast, or am I only being asked to do one of those things?
Some instructors prefer that you only write about the differences between two things, while others want you to focus on explaining the similarities as well.
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