We have had an enormous amount of tips from experienced entrepreneurs and entrepreneurial visionaries these two weeks. People like Steve Blank, Andrew Isaacs, Ken Morse, Michael Bruce, Leon Sandler and Joe Lassiter have shared their ideas about entrepreneurship, Clean-tech and the opportunities in the United States.
So here we go:
- We have talked about Self-awareness, network – network – network, High-speed before.
- And in reminder: Cleantech business is business. If you have a great idea, brilliant technology but not deliverd any market value or market proof and a suitable business case, you have to wonder whether you are a company et all. Create a business perspective and there is a world of opportunities for Clean-tech companies.
- Know your market. Really know your market. Laws, policies, customers, partners, what is happening and upcoming. Customers, customers, customers…
- Another insight… When a market needs your solution, does not mean that they will buy it…. A need is not enough. And by far not yet a sales.
- Realize that often your goals outrun your supply chain.
- About teaming up. ‘Every true entrepreneur should spent at least 50% of its time on finding new people’ – Veysel Berk. ‘ Every employee you hire affects the intelligence of your company. Make sure you hire people that are smarter than you are in their position’ – Ken Morse.
- Know who you are up against. The giants in the market? Government? Who’s market share are you really gaining? A new market does mean another markets reduction..
- It’s all about being sufficient efficient. Capital efficiency. Innovation efficiency. Commerciali efficiency. Relational efficiency.
- This might not shock you, so act upon it: Investors are not that eager to take risks. So know your risks. Reduce the risks: spread investments throughout the value chain. How about grants? Realize Seedfunding, convertible notes, and make sure you limit the technology risk. And by all means present it as riskless as possible.