The Need for Research and Prototypes
Serial entrepreneur and venture capitalist Mark Suster urges entrepreneurs not to be lazy when it comes to doing necessary market research. This includes having a basic understanding of who will pay for your product or service. In the age of affordable research and engineering, smart venture capitalists now expect to see at least workable prototypes from startups seeking funding. Suster suggests numerous critical questions for entrepreneurs to ponder about their market, their product, and their competition.