Can you answer these questions?
- For each customer segment in your business model, is your total cost to acquire a customer (CAC) less than your life time value (LTV)?
- Can you provide convincing evidence that your distribution channels are scalable? (See Casey Winter’s explanation on How To Measure Retention & Product-Market Fit for more detailed explanation.)
- Does your business model possess any of the highly defensible attributes preventing future competitors from challenging you?
- Supply Economies Of Scale – Driven by massive fixed costs of production. Margins improve with scale. ex. auto, railroads, oil, gas, mining, pharmaceutical development
- Strong Network Effects – The more users the greater the value on the platform. ex. Facebook, Amazon, LegalZoom
- High Multihoming or Switching Costs – Monetary or other costs associated with using multiple products in the same market. ex. file storage, CRM
Can you produce these documents?
- Business Overview deck and/or Executive Summary
- Latest Financials (recent year & 3 year projections ideal)
- Summary of funding status, funding needs and planned uses of capital
- Summary of how your startup meets our criteria
Then apply here: