1. Top 10 Mistakes

2. Mistake 1 – Too Damn Long Elevator Pitch - Invite Executive Summary 12 Slides Plan < 20 pages (plus other materials) or $6 at Kinkos

3. Mistake 2 – Poor positioning Solution looking for problem No visible pain No real customer validation Invisible benefits (no “so what”)

4. Mistake 3 – Lack of Focus Swiss Army Knife Plan Multiple Opportunities/Phases

5. Mistake 4 – Not enough Real World Market Analysis Top Down versus Bottom Up General Numbers -- Not actionable Logical Growth Rate Don’t just prove market – Prove reachable Don’t prove obvious

6. Mistake 5 – No “Dashboard Gauges” What are top three drivers or metrics of the business? Metrics should be actionable Revenues as byproduct of metrics.

7. Dashboard Year 1Year 2Year 3 Criterion 1 Criterion 2 Criterion 3

8. Unclear Business Model How will you make money? What is the path to profitability? Oblivious to selling and budget cycle Oblivious to adoption or implementation timetables Too dependent on others accepting/cooperating Scalability - how will you get big?

9. Mistake 7 – Poor/Incomplete Competitive Analysis You always have competition Not defensible – or even distinguishable from others doing the same thing Not disclosing everyone Do your homework

10. Mistake 8 – Weak information It’s the team, stupid Out implement Admit your holes

11. Mistake 9 - Poorly Defined Leverage Points You can’t do it alone Move world – what’s your fulcrum Who has vested interest in your success? What are your leverage points

12. Mistake 10 – Goofy Fundamentals that Distract Do the basics right the first time Get “adult supervision” Use specialists Look like a “Standard Deal”