Introduction
In Boston, I reviewed many applications submitted to the investment community. Boston is a mecca for first-class biomedical research. The science I reviewed has been outstanding, but the applications often read like requests for a government grant; there was no discussion of competition, no business model, and no go-to-market plan. Investors like to know how you are going to make money. You make money with your business model, including value proposition, cost structure, revenue streams, and target customers.
The business model should give you a clear path to profitability in less than two years. To achieve this goal, the ideal product should have recurring revenues, more than one revenue stream, a short ...
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