If you’re looking for advice on how to become a better startup CEO, you’re in luck. This week’s TechCrunch+ roundup includes posts on topics such as VC trick questions, building 3-case models and B2B sales coaching.
First up, Green Visor’s GP Ali Hamed shares his thoughts on the most common VC trick questions. He advises startup CEOs to be prepared for questions such as “What are your Unit Economics?” and “How do you plan to become profitable?” by having clear and concise answers.
Next, Parker Conrad of Zenefits shares his framework for building 3-case models. He recommends starting with a base case, then creating two additional cases that are slightly better or worse than the base case. This exercise can help you identify risks and opportunities that you may not have considered.
Finally, Vantage Point Performance’s Tony Zambito shares his tips for B2B sales coaching. He recommends setting clear objectives, providing feedback and using data to track progress. By following these tips, you can help your sales team close more deals and reach their full potential.
Hey there, TechCrunch readers!
In this week’s roundup, we’re sharing some great articles on VC trick questions, building 3-case models, and B2B sales coaching.
VC Trick Questions
In this post on the First Round Review, Kyle Westaway shares some of the most popular trick questions that VCs like to ask startups. He also provides helpful tips on how to answer them.
Building 3-Case Models
As a startup founder, you’re probably familiar with building financial models. But have you ever tried building a 3-case model? This post on the Foundr blog walks you through the process.
B2B Sales Coaching
Coaching is a great way to improve your sales skills. But what does B2B sales coaching actually entail? This post on the SalesHacker blog breaks it down.
That’s all for this week! Stay tuned for next week’s roundup. And if you’re looking for even more startup advice, check out our TechCrunch Startups section.
1. “What are some good questions to ask venture capitalists?”
This was the number one question on Quora this week, and it’s easy to see why. Asking the right questions can help you get the funding you need to get your startup off the ground.
Luckily, there are plenty of experienced VCs who are happy to share their favorite questions to ask entrepreneurs.
Some of the most popular questions include:
-What inspired you to start this company?
-What are your company’s core values?
-What are your biggest challenges?
-What are your competitive advantages?
-How do you envision the future of your industry?
-What are your plans for scaling the company?
-How have you been able to achieve such high growth?
-How does your product or service solve a problem that people are willing to pay for?
-What is your business model?
-Who are your target customers?
-What is your marketing strategy?
-What are your sales figures?
-What are your expenses?
-What is your burn rate?
-What are your plans for exit?
Asking the right questions can give you a lot of insight into a startup and help you decide if it’s a good fit for your portfolio.
2. “How do you build a three-case model?”
A three-case model is a tool that can be used to evaluate different business scenarios. It’s a way of thinking about the possible outcomes of a decision and planning for different eventualities.
Building a three-case model is surprisingly simple. All you need to do is come up with three different scenarios, each with a different set of assumptions.
For example, let’s say you’re considering investing in a new startup. Your three cases could be:
-Best case: The startup takes off and becomes a huge success
-Worst case: The startup fails and you lose your investment
-Most likely case: The startup does okay, but doesn’t reach its full potential
Once you’ve developed your three cases, you can then start to think about what you would need to do in each scenario. This can help you make decisions and plan for the future.
3. “What are some good sales coaching tips for B2B salespeople?”
If you’re in the business of selling to other businesses, then you know that it can be a tough market. You need to be able to stand out from the competition and close deals.
Sales coaching can be a great way to help you improve your performance and close more deals. Here are a few tips:
-Identify your ideal customer: Who are you trying to sell to? What are their needs? What are their pain points?
-Understand your product: What are the features and benefits of your product? What can your product do for your customer?
-Know your competition: Who are you up against? What are their strengths and weaknesses?
-Create a sales pitch: What are you going to say to your potential customers? How are you going to present your product?
-Prepare for objections: What objections are you likely to face? How are you going to overcome them?
-Practice, practice, practice: The more you practice, the better you’ll be at selling.
By following these tips, you can become a top performer in the world of B2B sales.
What do you do when you’re presented with a new investment opportunity? How do you go about building a three-case model? What’s the best way to coach a B2B sales team?
If you’re looking for answers to these questions and more, you’ll want to check out this week’s TechCrunch+ roundup. We’ve gathered some of the best posts from around the web on these topics and more, so you can stay up-to-date on all the latest in VC, startups, and tech.
In this week’s roundup, you’ll find posts on VC trick questions, building 3-case models, B2B sales coaching, and more. So whether you’re a startup founder looking for funding or a sales executive looking for ways to improve your team’s performance, there’s something here for you.
So without further ado, here are this week’s must-reads:
VC Trick Questions: How to Spot Them and What to Do Next
Any experienced VC will tell you that there’s more to evaluating a startup than just the numbers. In fact, many VCs will use trick questions to get a better sense of the startup and its team.
In this post on the Foundr blog, Nathan Chan shares some of the most common VC trick questions and how to answer them. If you’re seeking VC funding for your startup, this is a must-read.
3-Case Model: How to Build and Present it to Your VC
A three-case model is an essential tool for any startup seeking VC funding. But how do you go about building one?
In this post on the Venture Hack blog, Matt Wilt shares a step-by-step guide to building a three-case model. If you’re looking for a way to improve your chances of securing VC funding, this is a must-read.
B2B Sales Coaching: The Ultimate Guide
If you’re responsible for coaching a B2B sales team, you know how challenging it can be. In this post on the SalesHacker blog, Chai Jindasurat shares an ultimate guide to B2B sales coaching.
From setting goals to providing feedback, this post covers everything you need to know to coach a successful B2B sales team. If you’re looking for ways to improve your team’s performance, this is a must-read.
The Ultimate Guide to Building a Tech Startup
Building a successful tech startup is no easy feat. In this post on the Wharton blog, McQuown and Witherspoon share an ultimate guide to building a tech startup.
From idea generation to product development to sales and marketing, this post covers everything you need to know to build a successful tech startup. If you’re looking for a comprehensive resource on startup success, this is a must-read.
Do you have a must-read post to share? Let us know in the comments below!
What are the best VC trick questions?
1. What do you think about our compete?
2. How do you think about our market?
3. How do you think about our product?
4. What do you think about our team?
5. How do you think about our traction?
6. What do you think about our business model?
7. How do you think about our market opportunity?
8. What do you think about our positioning?
9. What do you think about our differentiation?
10. How do you think about our value proposition?
In this edition of our startup advice column, TechCrunch’s Startup Battlefield editor Jonnelle Marte gives tips on how to answer VC trick questions, how to build a three-case model and how to get B2B sales coaching.
As a startup founder, you’re bound to run into challenging questions from potential investors, whether it’s during an initial pitch meeting or further down the road.
Some VCs like to ask tricky questions to test a founder’s resolve or see how they think on their feet. Others may have ulterior motives, such as wanting to see if the startup is a good fit for their portfolio.
No matter the reason, it’s important to be prepared to answer these types of questions. Here are a few tips:
1. Don’t get defensive.
When a VC asks a difficult question, it’s easy to get defensive and want to justify your startup’s every move. But it’s important to stay calm and level-headed.
2. Take a step back.
Before answering, take a step back and assess the question. Is it a genuine question seeking clarification, or is the VC trying to trip you up?
3. Be honest.
If you don’t know the answer to a question, don’t try to BS your way through it. Be honest and tell the VC that you’ll get back to them with an answer.
4. Prepare ahead of time.
Of course, the best way to handle trick questions is to prepare for them ahead of time. Practice your pitch with friends or mentors and anticipate tough questions that might come up.
Building a three-case model is one way to prepare for questions from VCs. This type of model helps you think through different scenarios and how your startup would perform in each one.
For example, you might build a three-case model for a new product launch. In the first case, you assume that the product is a complete success and everyone loves it. In the second case, you assume that the product is a complete flop and no one buys it. In the third case, you assume that the product falls somewhere in the middle – it’s not a huge hit, but it’s not a complete disaster either.
What’s important is that you think through each case and what would need to happen for your startup to succeed. This exercise can help you identify potential roadblocks and come up with solutions ahead of time.
Finally, if you’re looking for advice on how to improve your B2B sales skills, here are a few tips:
1. Get in front of as many potential customers as possible.
The best way to improve your B2B sales skills is to get in front of as many potential customers as possible. The more practice you have, the better you’ll become at identifying potential leads and closing deals.
2. Find a mentor.
If you can find a mentor who’s experienced in B2B sales, that’s even better. This person can give you guidance and advice on best practices.
3. Join a professional organization.
There are many professional organizations, such as the Sales Lead Management Association, that offer resources and networking opportunities for sales professionals. Joining one of these groups can help you meet other salespeople and learn from their experiences.