ComiXology started with a business plan and a simple pre-order app for comic books. It’s used by comic book stores to reserve copies of new releases for their loyal customers. Now comiXology has deals with DC and Marvel to provide digital comic books.
The secret to their success lies in the process of creating their business plan. They entered a business plan competition at San Diego State, but they were axed in the first round. However, they learned a lot about the process of writing an effective plan targeting Venture Capital and how to answer VC questions.
Then they entered another business plan competition at NYU Stern and won. During the process, they made several valuable connections and secured enough funding to start the project.
If they would have written their business plan behind closed doors and attempted to launch comiXology by themselves, there’s a good chance we wouldn’t be hearing about this success story. The lessons they learned and the connections they made opened doors they never would have seen.
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