ten questions you need to ask yourself to launch successfully

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


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…


TenQuestionsSummary

1. Whatisyouridea?2. Whydoyouwanttodothis?3. Whatistheimpactyouwanttocreate?4. Whoarethestakeholders?5. Howdoyougeneratevalue?6. Howwillyourideascale?7. Whatmakesthisidea irresistiblyattractive?8. Whatresourcesdoyouneed?9. Whatcangetinyourway?10.Howcommittedareyou?


1.Whatisyouridea?

• Visionofwhatyouwanttodo• The"void"(need)youwanttofill• Areyouproblem-drivenorsolution-driven?(therearebenefits/drawbacksofeachapproach)

WhatistheWOWinyouridea?


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


MYIdeasPassionsNeedsDreamsInterestsDesires

Resources

IdeasPassionsNeedsDreamsInterestsDesiresOFOTHERS

PROFITZONE

NOMEANS

NODEMAND NOENERGY


2.Whydoyouwanttodothis?

• Whatareyourpersonalvaluesandpriorities• Howdoesthisideafitwithyourpersonallifemission• Howdoyoudefine"success"foryourself?• Whatdoyouhavetocontribute totheventure?• Inventoryofpersonalstrengths,passionsandweaknesses

• Howdoesthisideafitwithyourownpersonalphilosophy?

WhyareYOUtherightpersontomakethishappen?


3.Whatistheimpactyouwanttocreate?

• Howtheworldwillbedifferentbecauseofyouridea?• Benefits,impactonpeople• How doyouwanttoconnectwithpeople?• Direct,indirect

Whatdoessuccessofthisidealooklikeforyou?


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


5.Whatisthevalueyouoffer?

FRICTION• Whatisthepain?Whatistheache?Whatisbroken?• Whatisthecostofthepain/ache/break?

BENEFIT• Whatisthebenefittosolvethepainoreasetheache?• Whatisthevalue-addedofoursolutiontotheuser/customer/stakeholder?

DECISIONTRIGGER• Whatisthedecisiontriggerforthecustomerorstakeholder?• Whatistheuniquevaluepropositionthat"disrupts"theuser/customer'sexperienceforthebetter?


Peopledon’t carewhat you do.They only careaboutwhat you doforthem.


6.Howwillyourideascale?

• Isyourideaadaptableto“rapidprototyping”?• Howeasyisittoevolveyourideaasyourlearnthebusiness?• Isitduplicatable,licenseable,franchisable?

Canyoumakeaprofitwhetheryouaresmallorlarge?


7.Whatmakesthisideairresistiblyattractive?

• Attraction:Connectedbypassion• FourP's(people- purpose- passion- profit)• Whereisthefundamentalwealthcreatedbythisidea?

Canyoubuildacommunityaroundthisidea?


8.Whatresourcesdoyouneed?

• AlliesandPartners• Typesoftalentneededforyourteam• Physicalresources• Financialresources

Whataretheprojectsanddeliverablestomakethisideahappen?


9.Whatcangetinyourway?

• Who hasabusinesswhocanmaketheneedforyourbusinessevaporate?• Where canyoubeblockedorsideswiped(technology,legislation,economy,environment)• Whatalternativewayscustomerscanachievesimilaroranalogueresults?

Whatisyour"secretsauce”forsuccess?


10.Howcommittedareyou?

• Howfarwillyougotomakethissucceed?• PersonalExitStrategy->whenisittoomuchforyou?• Whenareyoureadytogofull-timeonthisventure?

Ifthereisnoevidenceofsuccess,howfarwillyougo?


First,WriteYourManifesto

WriteyourManifesto:• Whatisthechangeyouwishtocreateintheworld?• Whythis?• Whynow?• Whyme?• Whatareyoucommittedtocreating?


TenQuestionsSummary

1. Whatisyouridea?2. Whydoyouwanttodothis?3. Whatistheimpactyouwanttocreate?4. Whoarethestakeholders?5. Howdoyougeneratevalue?6. Howwillyourideascale?7. Whatmakesthisidea irresistiblyattractive?8. Whatresourcesdoyouneed?9. Whatcangetinyourway?10.Howcommittedareyou?


GOFORIT!


Keep intouch!

CoachDavenderGupta,MScVentureCatalystAccélérateur d’entrepreneuriatStartup-Académiewww.startupacademie.comwww.coachdavender.com

(Québec)418948-1553(Montréal)[email protected]

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ten questions you need to ask yourself to launch successfully

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