Based on the material covered in this chapter, what questions would you ask the firm’s founders before making your funding decision? What answers would satisfy you?

Business Idea: Design and develop two small, unobtrusive wearable devices. The first device monitors and improves the user’s posture—which allows the user to sit straighter, stand taller, and look better. The second device analyzes the user’s running form and offers personalized coaching to help the user exceed his or her running goals.

Pitch: The first device, the Lumo Lift, is a tiny posture coach and activity tracker. Most fitness trackers only keep track of your movement, such as the number of steps taken and distance covered. The Lumo Lift does that too;

but, its main purpose is to pay attention to your posture—

how you sit and stand. Here’s how it works. The device clips onto the inside or outside of your shirt using a magnetic clasp. You place the device directly beneath your collarbone. Once it is in place, you get into your desired posture. You then calibrate the device and go about your day and the Lift will track your posture and movement.

The device will gently vibrate when you slouch, reminding you to correct your posture. The Lift sends the data it collects to a smartphone app, where you can see your daily statistics, including your activity level and your posture performance. The problem the Lumo Lift solves is back pain caused by poor posture. It also helps its users sit straighter, stand taller, and gain confidence. Imagine walking down the street or a hallway with your shoulders back and your head held up high (i.e., perfect posture).

That’s a recipe for feeling more confident.