I can’t tell you how many entrepreneurs I meet who tell me all about their new fan-dangled technology but can’t tell me who cares or what problem they are solving.
Often they haven’t identified a problem or are unclear about who will use the new app, device, platform.
They are so hung up on the tech or the science they have completely forgotten the user or problem they are solving.
When I review an invention or a startup pitch the first thing I look at before I worry about anything else is the problem.
If you can’t convince me that there is a real problem and you have a shot at solving it, we won’t even get to rest of the pitch.
If you are doing something which involves early stage science, engineering or technology research and development it may not be clear who the final user is yet, but you should have a clear idea of what specific problem you are fixing and why your solution will be superior, lower cost, stronger, faster, less toxic, easier to make, can be made from cheaper materials or might enable something which couldn’t be done before and who might benefit.
Initially Im less interested in the amazing technology and more interested in how its going to solve someones problem.