The Power of Brand in the Technology Markets
I have listened to hundreds of presentations from entrepreneurs looking for funding since I joined InterWest Partners. They all have one thing in common: the majority of the presentation is spent on the product they are building and the market they are targeting.
Similarly, when a venture firm does its due diligence, it spends a significant amount of time and effort speaking with current or prospective customers and analysts to gauge their level of interest, the importance to the business, ROI, usage rates, etc.
This is all very laudable.
However, if you were to perform autopsies of technology start-ups that have failed, I think you would find that most were able to build the products they said they would–and that the customers who purchased them received more than marginal utility from them.