TenQuestionsYouNeedToAskYourselfToLaunch
SuccessfullyDavenderGupta
www.startupacademie.com
20001109rev20151125
Whatdoesasuccessfulstartuplooklike?
• Createsausefulproduct/serviceforitscustomers• Generatesrevenueandprofits• Providesanenvironmentforpeopletolearnandbecreative• Happyplacetowork• Gainsrespectandvisibilityfrommarketplace/peers• Setsthestandardfortheindustry• Attractssmartandtalentedpeople• Getsthingsdone(doeswhatitsaysitwilldo)
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TheStartupMindset
Aimstosolveanimportantproblemfortheuserbycreatinganofferwhichgeneratesahugeaddedvalueforallstakeholders,andwiththegoaltobecomethenewgo-tostandardforthemarket.
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FiveStagesofGrowth
GROWTH Isyour solutionthe
newstandardforthemarket?
Market Leader
EFFICIEN
CY Canyou deliver thesolutionefficiently andeffectively?
Capability MaturityIndex
VALID
ATION
Howmuch does themarket want thissolution?
Product-Market Fit
DEFINITION Thisidea solves what
importantproblem fortheclient?
Problem-SolutionFit
IDEA
Idea orconcept
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GettingThingsDone
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Idea
Strategy
Execution
Impact
WHYIntellectual Capital
HOWStrategic Capital
WHATLeadership Capital
WHORelationship Capital
Before Plan
After Plan
Lear
ning
5
TheTest
Donotstart,donotpass“GO”,untilyoucananswerthesequestions…
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TenQuestionsSummary
1. Whatisyouridea?2. Whydoyouwanttodothis?3. Whatistheimpactyouwanttocreate?4. Whoarethestakeholders?5. Howdoyougeneratevalue?6. Howwillyourideascale?7. Whatmakesthisidea irresistiblyattractive?8. Whatresourcesdoyouneed?9. Whatcangetinyourway?10.Howcommittedareyou?
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1.Whatisyouridea?
• Visionofwhatyouwanttodo• The"void"(need)youwanttofill• Areyouproblem-drivenorsolution-driven?(therearebenefits/drawbacksofeachapproach)
WhatistheWOWinyouridea?
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WhatisyourBig,Hairy,AudaciousGame?
What you arepassionate about
What you canbe thebestintheworld at
What generatesexponential
economic value
Your BIG,HAIRYAUDACIOUSGAME
Mission, Vision, Values
LiveYour Full Potential Game-Changing Results
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MYIdeasPassionsNeedsDreamsInterestsDesires
Resources
IdeasPassionsNeedsDreamsInterestsDesiresOFOTHERS
PROFITZONE
NOMEANS
NODEMAND NOENERGY
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2.Whydoyouwanttodothis?
• Whatareyourpersonalvaluesandpriorities• Howdoesthisideafitwithyourpersonallifemission• Howdoyoudefine"success"foryourself?• Whatdoyouhavetocontribute totheventure?• Inventoryofpersonalstrengths,passionsandweaknesses
• Howdoesthisideafitwithyourownpersonalphilosophy?
WhyareYOUtherightpersontomakethishappen?
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3.Whatistheimpactyouwanttocreate?
• Howtheworldwillbedifferentbecauseofyouridea?• Benefits,impactonpeople• How doyouwanttoconnectwithpeople?• Direct,indirect
Whatdoessuccessofthisidealooklikeforyou?
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4.Whoarethestakeholders?
THECOMPANY
PartnersClients
Suppliers
ProspectiveClients
Government/Regulatory
Employees/Families
Industry
Shareholders
Investors
Sub-contractors
LabourMarket
Enthusiasts
NaturalEnvironment
UsersNeighbours/Community
Past Employees/Pensioners
THECOMPANY
PartnersClients
Suppliers
ProspectiveClients
Government/Regulatory
Employees/Families
Industry
Shareholders
Investors
Sub-contractors
LabourMarket
Enthusiasts
NaturalEnvironment
UsersNeighbours/Community
Past Employees/Pensioners
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5.Whatisthevalueyouoffer?
FRICTION• Whatisthepain?Whatistheache?Whatisbroken?• Whatisthecostofthepain/ache/break?
BENEFIT• Whatisthebenefittosolvethepainoreasetheache?• Whatisthevalue-addedofoursolutiontotheuser/customer/stakeholder?
DECISIONTRIGGER• Whatisthedecisiontriggerforthecustomerorstakeholder?• Whatistheuniquevaluepropositionthat"disrupts"theuser/customer'sexperienceforthebetter?
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Peopledon’t carewhat you do.They only careaboutwhat you doforthem.
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6.Howwillyourideascale?
• Isyourideaadaptableto“rapidprototyping”?• Howeasyisittoevolveyourideaasyourlearnthebusiness?• Isitduplicatable,licenseable,franchisable?
Canyoumakeaprofitwhetheryouaresmallorlarge?
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7.Whatmakesthisideairresistiblyattractive?
• Attraction:Connectedbypassion• FourP's(people- purpose- passion- profit)• Whereisthefundamentalwealthcreatedbythisidea?
Canyoubuildacommunityaroundthisidea?
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8.Whatresourcesdoyouneed?
• AlliesandPartners• Typesoftalentneededforyourteam• Physicalresources• Financialresources
Whataretheprojectsanddeliverablestomakethisideahappen?
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9.Whatcangetinyourway?
• Who hasabusinesswhocanmaketheneedforyourbusinessevaporate?• Where canyoubeblockedorsideswiped(technology,legislation,economy,environment)• Whatalternativewayscustomerscanachievesimilaroranalogueresults?
Whatisyour"secretsauce”forsuccess?
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10.Howcommittedareyou?
• Howfarwillyougotomakethissucceed?• PersonalExitStrategy->whenisittoomuchforyou?• Whenareyoureadytogofull-timeonthisventure?
Ifthereisnoevidenceofsuccess,howfarwillyougo?
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First,WriteYourManifesto
WriteyourManifesto:• Whatisthechangeyouwishtocreateintheworld?• Whythis?• Whynow?• Whyme?• Whatareyoucommittedtocreating?
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TenQuestionsSummary
1. Whatisyouridea?2. Whydoyouwanttodothis?3. Whatistheimpactyouwanttocreate?4. Whoarethestakeholders?5. Howdoyougeneratevalue?6. Howwillyourideascale?7. Whatmakesthisidea irresistiblyattractive?8. Whatresourcesdoyouneed?9. Whatcangetinyourway?10.Howcommittedareyou?
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Keep intouch!
CoachDavenderGupta,MScVentureCatalystAccélérateur d’entrepreneuriatStartup-Académiewww.startupacademie.comwww.coachdavender.com
(Québec)418948-1553(Montréal)[email protected]
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