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Arcane
Hey, I'm on Medial • 10m
To evaluate the probability of success of early stage startups, you must have a strong and clear answer to these questions: • The passion: Is the team obsessively passionate about their idea? It’s all in the execution. Even an outstanding concept can fail to engage its audience if the team isn’t ready to do everything to support it. • The expertise: Do the founders have domain expertise? The founders should know everything about the space in which they operate. Also, Are they willing to put in the time? • The timing: Why this idea and why now? Is this a new idea, and if so, why haven’t people tried it before? If it isn’t, what makes the startup’s team uniquely able to succeed in the venture? • The market: How big is the market? The size of a startup’s market defines the scale of its opportunity. Too small of markets may lead to financials that aren’t large enough to survive. If you can confidently answer all these questions, you’re on the right track.
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