It's easy to see how this advice applies to a SaaS company, but what about a more capital-intensive startup? Like a startup with an innovation in manufacturing, energy, telecoms, how do they have leverage when approaching investors, especially at the beginning? Are patents the main way or are there others? What metrics can they show if they're working on a proof-of-concept and don't yet have customers?
I don't doubt that the advice still applies but I'm having a hard time understanding how. Are there illustrative examples of startups that did this well?
I don't doubt that the advice still applies but I'm having a hard time understanding how. Are there illustrative examples of startups that did this well?