Define the value preposition for the target customer. Speed in the essence. Others crowd the niche faster that you can say 'IPO'. The slow and steady, need not win the race - the hare and tortoise story is passe. As young graduates you tend to have a know-all attitude.
Experience is invaluable.
Potential investors are your partners. They are in business to make money. Treat them with respect and trust. The excitement of working in a startup is no lesser than starting one. If the recent Doomsday predictions have introduced a sense of dissonance in your minds on startups think of the following before you make your choice Take a critical look at the management team of the startup.