90% of founders fail because they fall into this trap.
May 29, 202490% of founders fail because they fall into this trap.
The wishful-thinking trap. All idea, no plan.
You've heard the saying, "all hat no cattle".
Your deck is a pitch, not a plan. You need three vetted plans.
#1 - The plan to raise VC
#2 - The plan if you get funded
#3 - The plan if you don't get funded, and God forbid, have to bootstrap.
90% of all startups fail.
Only about 0.05% of startups actually raise venture capital.
Of those that do, 70% still fail.
That's sobering.
Nail these two questions.
#1 - What's your detailed plan to land meetings with VC
#2 - What's your detailed plan to land meetings/demos with prospects
#2 - or, how will you drive traffic to your hot app?
(As of 2024, there are approximately 900 apps on the Apple App Store that earn more than $1 million annually in revenue.)
100% of our ideas and plans start out flawed (mine included).
We have to take them through a process to make them viable. The wishful thinkers miss this.
The wishful thinkers have an idea, a product, a pitch deck — but no deep plan.
Go deep on 1, 2 and 3.
Stop the failure. Develop the plan. Let's crush it.
You're welcome.
Need help? Reach out.
- Gerald