When Vetted ... They Lack This.
Aug 25, 2022
Whether you are a Founder seeking investor capital or sales revenue, this is the #1 reason why such a high percentage of ventures fail.
When vetted they lack this .... True Vision
1. Clearly defined goals
2. Detailed plan* (THIS)
3. Timetable for achieving that goal
Because they don't have this .... True Diligence
They are most often very passionate about the mission of the venture, yet didn't do the work to vet their business model and brand.
They lack the *detailed plan of a Customer Acquisition System. Without this they will fail.
At the end of the day, they simply didn't learn how to do what's required to succeed. Or, they are not willing to learn entrepreneurial diligence.
Diligence is actually a learnable skill that combines:
- creative persistence
- a smart-working effort
- rightly planned
- rightly performed
- in a timely
- efficient
- effective
... manner to attain success.
Lean Business Canvas is the #1 tool I use to vet business models. If a founder can't correctly answer the 9 questions of LBC, they haven't done their homework. Sadly, the odds are they will fail.
Don't get mad. Just learn diligence.
-Gerald
