What turns off investors?

0:03 Welcome to business purpose and Clarity with patreon your host we talk about startup live insights practical tips mistakes failures and everything between what is the biggest down when you hear some startup found depicting you the product or the company or the concept I would say from the first impressions it's the lack of vision if it's just an average there's a lack of ambition you just want to fix something mundane small which is probably like a feature so it's not even a product in a sense that somebody else who is already in the business and doing whatever you're talking to do could Implement and put it into their product and have it as a feature so you are out of the business or.

1:07 The thing what are you now improving and doing better than anybody else is still so tiny thing that it's hard to get anyone excited about it and you're not excited about it either so the lack of vision in a sense that it's not big enough ambitious enough large enough to get me excited to get you excited to get to employees excited to get the companies excited indicate and so the values get the alignment with your business partners sustain you in the long term because the the need is probably somehow transitory in a sense that yeah there's a need for that at this moment but it will the market will evolve computers will evolve and because you're not telling me the biggest story you're not showing me.

2:09 The reason you're not solving something which is bigger than your company something which takes like a community something which takes a long time which is more maybe not possible to read because you can always find ways to do it better and it's so ambitious that it takes generations to build if you don't something with excites and I don't always mean that you have to do in this Grand scale that changed the whole Humanity type of a mission to bring people to Mars or whatever but it needs to be something which is just a little bit bigger than a tiny Improvement in some tiny thing happening today and there's nothing wrong of building something like that but it's not a growth business is not something where you can get a large market share in a Global if you are intended to get the investor money if you tended to get busy money talk it should be somewhere there.

3:13 Because otherwise it's hard for them to get their money back and this is the disappointing thing about a lot of pizzas a lot of business ideas that you haven't stopped and thought about it before exactly get going and come with something which is half thought probably fixes the issue at hand but it's it's not exactly like a business yet it's an idea maybe with an MVP so it's a tiny product but it's not a business per se it's not a consistent out of which you can build maybe another product a line of products different customer segments enough revenue streams to support a company of a significant size and lifespan check out your dick check out your story check out your company reason to exist does it make you excited.

4:19 Just turn you on when you jump out of the bed in the morning does it put a smile on the face of everyone you're interacting and are they excited and they're doing things when they off the clock as well because it's just so amazing crazy opportunity to work with this thing they could even do it without getting paid is that the level of excitement you have well if you are not having that you know what to do.