As president and CEO of Tosk, Inc., Brian Frenzel leads an enterprise that develops biopharmaceutical products in the fight against cancer. Having successfully led more than a dozen startup companies, Brian Frenzel is a member of the early stage angel group, the Band of Angels.
One key element to the viability for any early stage venture involves setting and attaining appropriate milestones. This requires developing realistic timelines to guide the startup’s growth trajectory. Typical early milestones include additions to the team and attaining product development objectives. Milestones can also revolve around product launches and early profitability metrics.
These milestones are not simply for use in setting internally driven goals. Properly detailed and explained, they offer investors vital information on how to minimize risk while not losing out on the opportunities that early-stage investments present. The ideal time to reach out to investors to raise capital is just before or just after a key marker is met. This makes fundraising easier and increases the likelihood that the team can achieve more ambitious long term goals.