Know your exit before you start

Exit Strategy

If you don’t know where you are going, it’s hard to know when you’ve gotten there.

Eric Dobson starts us out with a simple, yet profound statement, “If you don’t know where you’re going it’s hard to know when you’ve gotten there.” What’s more, he focuses in on his role as an angel investor.

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Going on your own is less risky

Risks“I always thought there was a big leap for making enough money on your own and it turned out it wasn’t really as hard as I thought. [We all] have a fear-based reaction to what’s going on [when striking out on our own]. The number one thing is the idea of risk. Hundreds of people have said to me that going out on their own is too risky.” — David Meerman Scott in our interview (part 1 and part 2).

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Getting fired from my corporate job was a gift

You're Fired

David Meerman Scott recalls, “I jumped into my own thing 14 years ago after being fired from a corporate job for having too many radical ideas. Today, I deliver speeches, write books, and serve on advisory boards for startups.” It doesn’t take a deep thinker to realize that sure does sound like a better gig.

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Listen to your Audience

Listen to UsersIn our first episode John Lee Dumas gave our listeners a ton of great advice about how to work with a mentor and how to lead with value. John has put all of this advice to incredible impact, listening to his audience, and producing services and content to meet their needs. What’s more, he’s been fully transparent about the process and how much money he’s made doing it.

John’s podcast and its offshoot businesses leverage his listener base to create revenue and profit. John tells us that his listeners were asking him “how to create products and services.”

His answer is simple: “Listen to your audience and [they] will tell you the services and products they need.”

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6 Tips On Pitching Your Startup Idea To Angel Investors

raisingcapital

1. Put in sweat equity BEFORE you go after investors.

99% of investors have been in your shoes. Never forget that. They put in incredible time, effort and focus to become successful and now have the ability to help startups. If they don’t see themselves in you, the chances of them backing your company go down immensely.

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