Developing Great Ideas for Startups
Everyone has great ideas, and many of us have more than one. But how can you evaluate your idea to understand whether it’s good enough to launch as a business? In order to help aspiring start-up founders, we have developed a 15-step thought process to help profile, quantify and evaluate start-up ideas. This is done prior to a full business plan, and illustrates some of the practical requirements needed to convert an idea into a business venture. There are fifteen steps to the process. While they appear linear, many of them are heavily iterative and you may often find yourself repeating steps or re-challenging assumptions the further you move into the process.
- What Sets You on Fire?
- Product Market Fit
- Defining & Defending your Product
- Profiling your Ideal Customer
- Market Size & Location
- Market Access & Permission to Market
- Testing your Product
- Gaining your First Customer
- Building your Team
- Building your Capabilities
- Finance & Costing
- Pricing & Contracting
- Getting Backed
- The Give It All Up Test
Want to know more?
Join Philip Ammerman at C4E Series of Lectures on Innovation & Entrepreneurship – Spring 2021 to explore this process with him!