Team

  • Tell me a bit about your background and your co-founder(s)’s background.
  • How do you all know each other?  
  • Why is your team uniquely motivated to solve this problem? 
  • Why did you pick your co-founder? 
  • Who do you need to hire during the next 18 months to be successful?
  • When was the last time you had disagreed on a business issue?  How did you resolve it?
  • Do the founders have the knowledge to build the technology or would they need outside help?
  • What does the cap table look like? (equity distribution across founders) 

Problem You’re Solving

  • What is the specific problem you are solving? 
  • How big / serious of a problem is it?
  • Why is this a problem? 
  • Who has this problem?

Solution/ Product

  • How are people solving this problem today? 
  • Describe your solution to this problem.
  • What effort / timing is required to switch from a different solution to yours?
  • (For deeptech) What is unique about the tech?  (Do you have any patents / IP / trademarks?)
  • What is your product roadmap for the next 6-12 months?

Market / Market timing

  • Why now? 
  • How big is this specific market? 
  • What is your unfair advantage?
  • Who would you see as your key competitor at the moment? Why?

Customer Acquisition / Unit Economics / Go-To-Market

  • Who is your customer persona? 
  • How much are people paying today?  (range?) 
  • How are you currently getting users / customers? (what customer acq channel(s)?)
  • How do you think you will get users / customers in the future? 
  • How much does it cost you currently to get a user?  And in which channel? 
  • How much does your solution/product cost (COGs)? 
  • Why do people buy / use your solution? 
  • What is the sales cycle to-date?
  • How does the product team interact with current and potential customers? If so, how and how often? 

Competition

  • What differentiates your solution from other alternatives?
  • Who are you more afraid of: Google or another startup?  
  • What happens if a Google (or equiv) does this? 
  • Who are the major players? 
  • What is your moat?

Traction

  • When did you start the company?
  • How many customers do you have to-date? 
  • How much revenue have you generated to date? 
  • Any notable customers? 
  • What does retention or churn look like? (if you know)
  • What does engagement look like? 
  • Any upsells? 
  • When will your company break even in terms of profitability and cash flow?

Fundraising / plans

  • How much have you raised to date? 
  • How much are you looking to raise? 
  • Where are you in your round? 
  • What is your burn rate? 
  • What is your top priority for the next 3-6 months? 
  • What are your capital costs? (if capital intensive, like hardware / e-commerce)
  • Have you secured a lead investor for the round?  If so, who and how much is the lead investing?
Categories: Startups

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