Entrepreneurs: Don’t Tell An Investor That Your Startup Is “Like Company X, For Y”

July 6, 2010  |  

(Business Insider) — It’s common for entrepreneurs to compare their new ideas to existing companies. There is good reason for this –the easiest way to describe a concept is often to reference commonplaces such as well-known companies that have similar characteristics. While presenting your company as the Google of X, the Facebook of Y or the Kayak of Z to investors can help VCs quickly get a sense for your business plan, it encourages investors to focus on why the comparison is not appropriate.

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