People. Market. Comprehensiveness.
Intelligent team – Intelligence in industry, practicality, ability to assess situations/models/people cannot be summarized into a defined box of “Intelligent Team.” Know that opportunities vary, but if you are not sure someone is intelligent…. Then go out and meet more people, the real stars will shine against the self-created spotlights.
Market in the billions and growing. Fairly straightforward go after a market that is in the billions, growing and could use greater value in their experience as consumers.
An entrepreneur should be comprehensive in discussing their concept: what it is, where it is going and understand the variables involved of the market, their environment and all involved players. (No one has all the answers, but an understanding of what he or she is getting into is a great jumping off point for discussion.)
Go to market is important and the provided financial projections will change. It is expected that go to market will only improve and evolve with what you learn and to keep focus on what you want to achieve.
The ability to execute lies in staying flexible to evolve with the external and internal components.
Exit Potential. Know who is going to buy you and why.