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A Good Advisor Will Have a Wealth of Experience and Knowledge

I have been in the IT industry for 20+ years (yes, since I left school), through the tech revolution. I still remember working at a computer shop in my home town of Ipswich, building computers and teaching people how to search online. Since then, over the last 20 years, we have gone from learning about the internet to now having it apart of our every day life. Without it we are lost, right!? I have not just been apart of this evolution the same as you, but I have worked in the industry and throughout my journey I have consulted thousands of businesses. From the early days of teaching businesses and employees on how to use outlook, excel and word, to monitoring entire networks, locking staff from using websites and social platforms, to helping businesses implement systems, platforms and apps to drive efficiency. There is not much I haven’t been apart of this past 20 years.
Why is it important?
Technology plays a super important role in your company’s growth and even though we have had it in our lives for 20+ years, there is still an elephant in the room. It’s us vs them. Business vs Tech.

Business and Technology should be seem as one. A seamless integration of the two ecosystems. Anytime you are implementing a new process in your business you should think of how technology can be utilized and vice versa, anytime you are implementing new tech you should always consider the business process. Everyone can have an amazing idea, execution is key! I have now been in the tech startup ecosystem for 5 years and over this time I have had 1000’s of conversations / meetings with founders on this exact same topic. When building out your roadmap/plan to launch your concept, you should consider the following;
  • Always aim to build & launch an MVP to obtain feedback from your target market 
    • Why!? We don’t know what we don’t know. You could be an expert in your field, but typically when launching a new concept/idea that hasn’t been done before we don’t know how our target market will react  
  • Speak with EVERYONE about your idea. Don’t hold back. 
    • As I said earlier, execution is key, and people often think you cant tell anyone about your idea as someone else will steal it 
    • How many people have said you to that they had the idea of UBER? Everyone … well guess what, did those people launch and scale Uber? No. 
    • And Idea is just that. A thought in someone’s mind. Execution of the idea is key.  
  • Find that Golden Nugget 
    • This is the key problem you are solving for the niche you are in.  
    • You want to survey and speak with 100+ of your ideal customers to ask them their biggest pain point is in their business 
    • This will help you narrow down and build a key component to solve an issue  
In the sessions with founders, I often get asked about our Raising Capital journey. I have also met with thousands of investors over the past 5 years and I can pretty much sum what all investors are looking for in a few dot points, not to take away from investors, but founders can swept away that raising capital is this magical being, investors are still humas after all;

  • Founders, investors invest into the founders. Be authentic, honest, know your business inside and out and become a storyteller. Investors can tell if you’re not telling the truth or don’t have grasp on your business. 
  • Traction, even if this doesn’t come up in conversation, its on the back of the investors minds the entire time. How do you get you first 10 customers? 100 customers? 1000 customers? If you aren’t prepared with this information, then push back your investor meeting 
  • Investors meet with 10-20 founders a day, yes A DAY, so you need to get your story across in 3mins, yes 3 mins! They might seem engaged in your conversation but they are still processing the meeting they had 5mins before you or thinking about the one after you, so you need to grab their attention.  
  • Will you give up if you run out of money? Timing is everything and even if you don’t get traction in the first few years, you might be too early in the industry and you need to wait for the industry to catchup with your new idea. Do you have the patience and persistence to hold out?  
Speaking with Founders and Investors daily, helps me understand what’s happening in the ecosystem. If you have a great idea, I can be certain I have heard of someone doing something similar, has been invested into or have solved a problem in your industry before. This will open conversations, doors and potentially opportunities to closing deals. Someone knows someone who knows someone. The world is a small place, especially when your chatting with 10,000+ people.  

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