Show,the,Money,Butareyoureadyt business, insurance Show me the Money!!

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Butareyoureadytoraisemoney?Goingtoinvestorsbeforeyouarereallyreadycandamageyourreputationandmayactuallyhinderfuturefundingefforts.TeamandaDreamusesauniqueFundabilityDiagnostictohelpcompaniesassesstheirstrengthsinfourkeyareas:Team-Thisisthemostfrequentlycitedattributeexaminedbyinvestors.ManyinvestorswillinvestinanA-levelteamandaB-levelproduct,butnottheopposite.HavingyourSeedTeamnailediscrucial.Traction-Showingmomentumisacriticalelementtodemonstratingprogressandyourabilitytoexecute.PerceivedPain-Dopeoplereallyneedyourproduct?Why?Willtheyneeditinthefuture?ProductEco-system-Howdoesyourproductfitintoexistingandemerginglandscapes?Whoelseisoutthereandhowbigwillthismarketgrow?Findoutwhatyouneedtosucceedanddiscoveryourroadmaptogettingthere.Takethequizbelowtoseehowwellyoumightexpecttoscorewithinvestors.Foreachofthefoursectionsoutlinedabove,seewhichhurdlesyoucancleargiventhecurrentstateofyourbusiness.PROCEEDWITHCAUTION:Onlyself-awareentrepreneursshouldtaketheseresultsseriously.ASSESSINGYOURTEAMPartA:IfyouoranymemberofyourcurrentteamarenotplanningonbeingtheCEO,giveyourselftwopointsandproceedtoPartB.IfsomeoneonyourteamISplanningtocontinueonasCEO,thenyou’llneedtoansweryestobothofthenexttwoquestionsinordertoscoretwopoints;otherwise,takeazero.OurCEOhassignificant,previousmanagementexperienceinastartuporcomparableoperatingenvironment(i.e.middlemanagementinalargecompanydoesn’tcount!)(1point)OurCEOisabletorapidlyassessandprioritizeourworkwiththerespectoftheteam(1point)PartB:Scoreonepointforeachanswer.Someoneonmyteamhassignificantexperienceinthedomainspaceinwhichwearestartingthecompany(1point)Ourteamunderstandsandactsasiftheyunderstandthedifferencebetweentasksthatareurgent,urgentandimportant,important,andnoneoftheabove(1point)Thisteamhasterrificchemistry(1point)Yourscore(0-5)isyourTotalTeamScore.Ifyouscoredthreeormore,youpasstheTeamHurdle.TRACTIONScoreonepointforeachitemyoucananswerpositively.Wehavemadeafewinitialsalesandhavepositiveindicatorsfromthemarketplaceforadditionalsalesgrowth(1point)SomanygoodthingsarehappeningIambouncingoffthewallswithexcitement(1point)Ihaveaddedasignificantteammember(besidesmyself!)inthepasttwomonths(1point)Inthepasttwomonths,Ireceivedpresscoveragethatwouldbeacknowledgedbymyprospectsaslegitimatebusinesscoverage(1point)Werecentlyhaveachievedasignificantproductormarketplacemilestone(includesasingle,initialsale)(1point)Yourscore(0-5)isyourTotalTractionScore.Ifyouscoredthreeormore,youpasstheTractionHurdle.PERCEIVEDPAINAwardyourTeamthenumberofpointsindicatedaftereachquestionthatyouanswerpositively.Myproductorservicesolvesanimportantproblemforawelldefinedgroupofpeople(2points)Myproductorservicewillbeingreatdemandinthefutureinordertosolveproblemsemergingfromanewtrendthathasalargepopulationofprospects(2points).Myproductorservicetakesadvantageofnewlyavailablemarketforces(technology,demographics,societal).Theresultisanofferingthatwillclearlyappealtoanexisting,well-knownmarketdemographic(1point)Yourscore(0-5)isyourTotalPerceivedPainScore.Ifyouscoredthreeormore,youpassthePerceivedPainHurdle.PRODUCTECO-SYSTEMScorethestatednumberofpointsforeachitemyoucananswerpositively.Myproductisuniqueinaclearlydefined(i.e.Icandescribethedifferenceinoneortwoclearsentences)andusefulway(1point)MyproductispatentedorcaneasilybepatentedorIhaveanothercompetitivebarrier(e.g.tradesecret,uniquemanufacturingprocess,etc.)thatwillmakeitdifficultforotherstocompetedirectly(1point)Mymarketplaceiswellestablishedbutfragmentedormyproducthas“categorykiller”potentialbecauseitissouniquetothemarket(1point)Mymarketplaceiseitherverybig(>$5billion/yearinsales)withclearroomforaproductlikemineorisrapidlygrowingwithwelldocumentedtrendlines(1point)Mymarketplaceiswideopenandtherearenocompetitors(subtract1point)Yourscoreof(-1to4)isyourTotalProductEco-SystemScore.Ifyouscoredthreeormore,youpasstheProductEco-SystemHurdle.Nowthatyouhavecompletedthescoring,weshalltakealookathow“fundable”yourcompanyis.Beforewedo,it’simportanttorealizethatthisisasnapshotintime.Ifyouarenotsatisfiedwithyourscore,thereareplentyofthingsyoucandotoimproveit.I’veseenmanyofmyclientsmaketremendousprogressalongthesedimensionsbyextendingtheirteam,focusingonsalesortweakingtheiroffering.YOURFUNDABILITYRATING:NumberofHurdlesCleared:NoneIMPLICATIONIfyoureceivedthisscoreandhopetoreceivefunding,thenyouhavealotofworktodo.Perhapsyoujustknowyouwanttostartabusinessandarelookingforideas.Ifso,keepthesecriteriainmindasyouformulateyourplans.Ifyoualreadyhaveabusinessconcept,youshouldthinklongandhardabout“re-conceiving”someelementsofittoimproveyourscores.Manyperfectlygood“lifestyle”businessesmayfallintothisscale–youjustcan’tgetfundingforthem.NumberofHurdlesCleared:OneIMPLICATIONFundingfromyourrichunclemaybepossibleNumberofHurdlesCleared:twoIMPLICATIONFundingfromfamilyandfriendsnetworkmaybepossibleNumberofHurdlesCleared:threeIMPLICATIONProfessionalinvestorswillconsiderthis,butyou’llneedtobepreparedtoexplainhowyou’lladdressyourgaps.NumberofHurdlesCleared:allfourIMPLICATIONPutthefinishingtouchesonyourbusinessplanandhitthefundingtrail!Youwillhavethebestchancesofsuccessinfund-raisingifinvestorsseethatyoucanclearthehurdlesinallfourareas.NOTE:TeamandaDreamoffersaprofessionalversionofthisassessmentthatoffersadditionaldetailandexaminesnuancesthataren’tpossibletoconveyinasimplequiz.Ifyouhaveaninterestintheprofessionalassessment,pleasevisitusathttp://www.teamandadream.com/contactus.htmContactInformation:http://[email protected](610)687-9195Copyright(c)2005,AllrightsreservedbyPostDestiny,Inc.d/b/aTeamandaDream(SM)