Companies start from all kinds of ideas. Usually it’s to solve a problem. If you have a company today that needs start up capital, one of the best pieces of advice we can give when you pitch to angels is to identify the problem you are solving in the first minute of the presentation, then show how your company fills the void. To inspire you, we came across this blogpost and reprint it here. An idea turned into innovative action that solved a problem, which started a company. The rest is history.
I’d never heard the story of how Richard Branson started Virgin Atlantic…interesting story.
In ’79, when Joan, my fiancee and I were on a holiday in the British Virgin Islands, we were trying to catch a flight to Puerto Rico; but the local Puerto Rican scheduled flight was cancelled. The airport terminal was full of stranded passengers. I made a few calls to charter companies and agreed to charter a plane for $2000 to Puerto Rico. Cheekily leaving out Joan’s and my name, I divided the price by the remaining number of passengers, borrowed a blackboard and wrote: VIRGIN AIRWAYS: $39 for a single flight to Puerto Rico.