Revisited: The Three problems with tech startups

List member Michael Borthwick shared a really insightful perspective in response to an email I sent last week about the problems working with startups:——I work with startups. Biggest issue isn’t so much their lack of money, but the lengthy sales cycle.I often joke that Startups only have money for about 30 minutes, but it’s true. That’s how long it takes them to spend it once they get it. Everything and everyone they want to work with is already lined up before they get their money. When they finally get it, BAM it’s spent. You can’t ride in late in the startup world.They can’t afford reinforcements – they can’t afford being told they need to redo anything, they can’t afford to be told they were wrong. I think that’s what Peter Thiel is actually worried about. Consultants like to point out what you did wrong, what you should change and what you need to redo. Unless something is completely FUBAR’d they won’t call and if they do chances are high they don’t have the money or the time to make it right.If you do go down that road you need to be 100% sure they’ll do what you say when you say it. You can know exactly how to help, give them the best plan the world has ever seen, but if they fail to execute you’ll be the first to get thrown under the bus when the Peter Thiel’s of the world come around asking why shit is still broken. Think about that and think about his perspective. I totally understand why he doesn’t like consultants.So you have to be nice to founders when they’re broke and realize that it’s a very long sales cycle if you want to land them.You have to meet them and hand them your business card 3-5 times before you become a name they recognize. You have to get in front of them, with your brand, repeatedly before they get their money. Yes, you want to be on that list when the time comes. That’s not too hard to do, but it does take time and patience.——Thanks for sharing your insight, Michael!I work with people one-on-one. One of the available slots could be yours if you need help with deciding how to specialize, developing a compelling, focused value proposition, or designing a lead generation program.Hit HERE to inquire.-P