Business Lesson #31 -- Clarity with any stage company is paramount!

Through the years, I've come to learn that irrespective of whether a business is brand new or well established, a lack of clarity around the "What's" will cause the business to flounder or fail.   

That's why as a VC, a mentor, and an CEO, I'm maniacally focused on ensuring clarity with respect to the  "What's".   With this clarity, you KNOW what business you are in — and with that comes business growth!

So, what are the "What's"?

• What is the target audience(s) being catered to?

• What is problem or need they have, that they are willing to spend money on to address?

• What is the product or solution to address their problem or need?

• What is the packaging and pricing of the product or solution?

• What is the value or benefit received?

• What is the messaging used to reach and influence the target audience(s)?

• What is the channels of distribution used to sell to the target audience(s)?

• What is the competitive landscape?

• What is the business model to make money?

• What is the macro trends that can be capitalized on?

• and more...

Too often a business will ramp it’s spending and/or hiring, with a lack of clarity as to what business they are in. Consequently, money is wasted, plans are missed, investors are frustrated or disappointed, and the business is floundering or failing.

This is the single biggest thing that businesses have to constantly stay focused on at every stage!