At the CUE training event, serial entrepreneur and angel, Jack Lang had us all reciting his mantra for the successful technology start-up and it is worth repeating it: “Global sustainable under-served market need”. Each word has a purpose. Global is USA, China and India; sustainable is repeatable business (no one shot wonders, think ink and not printers); under-served where competition is strong; market and need, who really wants the product.
For technology products the risk is alway the market except for drug companies when the risk is technical. Will your wonder drug that cures cancer also turn people blue? Jack included a good introduction to Equity Fingerprint with the phrase, the value of the business goes up as guess is replaced by justified facts.
I nearly forgot his opening remark: “Buy the book!”: The High-Tech Entrepreneur’s Handbook