Posted by Jonathan Greechan on 2011-06-21
As a Co-Founder of several companies, an angel investor in several more, and Co-Maintainer of two great resources for entrepreneurs - AngelList and Venture Hacks - Naval Ravikant has a unique view of the startup and investing landscape. That's why we asked him to speak at our Founder Showcase event last week in San Francisco to almost 500 founders and investors, and he did not disappoint.
In a great speech appropriately titled "The Anatomy of the Fundable Startup," Naval broke down the 5 main qualities of an "exceptional startup,” in the following order: (1) Traction, (2) Team, (3) Product, (4) Social Proof, (5) Pitch/ Presentation. And while all these qualities are important, Naval explained, the most important thing is to understand that “investors are trying to find the exceptional outcomes, so they are looking for something exceptional about the company. Instead of trying to do everything well (traction, team, product, social proof, pitch, etc), do one thing exceptional. As a startup you have to be exceptional in at least one regard.”
Naval’s talk is a must watch for any technology entrepreneur or angel investor. Click here to watch the full video at the Founder Institute website.
And remember, Applications for the Summer 2011 Silicon Valley Founder Institute, which is led by Adeo Ressi, are open until Wednesday June 22nd. If you could benefit from expert training and support to launch a technology company, apply today. Participants are not required to quit their day job.PRIVATE: Members Only