Startup Funding Espresso -- Attribute Substitution
Attribute Substitution Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The attribute substitution is a bias defined by Wikipedia that occurs when an individual has to make a judgment that is computationally complex and instead substitutes a more easily calculated heuristic attribute. Startups presenting a complex concept such as how their technology works should replace it with a heuristic or analogy that is easier to understand. Complex concepts can be difficult to communicate to investors in a pitch. Instead of explaining the concept in detail, the startup should replace it with an analogy or metaphor to explain it. The investor doesn\u2019t need to know the specific details of how a concept works but rather why it\u2019s important as there\u2019s typically not enough time to explain it. In discussing intellectual property it is better to highlight the benefits of the technology rather than how it works in detail. Oftentimes the technology is proprietary and kept as a trade secret. Explain complex concepts with analogies to show the benefits and importance of the concept. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .