Startup Vision definition

3,120 views
3,334 views

Published on

Creating a simple and well articulated startup vision statement is harder than it seems but a necessary step to clarity. This slide deck steps you through the process and leads you to the development of a elevator pitch you can share with customer prospects and investors.

Published in: Business, Technology

Startup Vision definition

  1. 1. Startup Vision Definition SmarterStartup.org  
  2. 2. Mark Twain Author VISION DEFINITION Startup Vision Definition I didn't have time to write a short letter, so I wrote a long one instead. A concise statement about a complex topic requires an investment of time and the clarity of thought. That critical analysis can reveal weaknesses in a plan, before you begin developing it. Its time to do this for your new startup.
  3. 3. Provide a concise answer to each question on the worksheet. Keep them as short as possible. Then compose a 3-4 sentence elevator pitch that includes as many of the key answers as possible. Then you’ll be ready to talk to prospects! Defining a Startup Vision VISION DEFINITION
  4. 4. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Real Estate IDX WordPress Themes May 9 Customer Start with a concise description of the customer segment and how you’ll reach them (channels).
  5. 5. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Real Estate IDX WordPress Themes May 9 IDX System to capture & nurture online leads 1. Own don't Rent (your website) 2. Beautiful original design Value Creation Clarify the value you are creating for that customer. (Value = benefit-cost)
  6. 6. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Marketing Automation CRM Software Product Real Estate IDX WordPress Themes May 9 IDX System to capture & nurture online leads 1. Own don't Rent (your website) 2. Beautiful original design Product What is the manifest solution you’re proposing that will convey new value to your customer?
  7. 7. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Marketing Automation CRM Software Product WordPress Theme *Product* (not SaaS) for the DIY agent Tech disruption. First mover (the Spark API for IDX) Real Estate IDX WordPress Themes May 9 IDX System to capture & nurture online leads 1. Own don't Rent (your website) 2. Beautiful original design Competition What’s your competitive position that will enable you to provide a better or more authentic solution?
  8. 8. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Marketing Automation CRM Software Product WordPress Theme *Product* (not SaaS) for the DIY agent Tech disruption. First mover (the Spark API for IDX) 1. Me (product/tech) 2. John (BizDev/Sales) 1. Spark Platorm API 2. Access to all MLS IDX Feeds Real Estate IDX WordPress Themes May 9 IDX System to capture & nurture online leads 1. Own don't Rent (your website) 2. Beautiful original design Team What are your teams credentials? What’s the reason you’ll prevail over competition in offering a compelling solution?
  9. 9. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Marketing Automation CRM Software Product WordPress Theme *Product* (not SaaS) for the DIY agent Tech disruption. First mover (the Spark API for IDX) 1. Me (product/tech) 2. John (BizDev/Sales) 1. Spark Platorm API 2. Access to all MLS IDX Feeds $50,000 to build core product $50,000 line of credit Real Estate IDX WordPress Themes May 9 IDX System to capture & nurture online leads 1. Own don't Rent (your website) 2. Beautiful original design Finance What is the financial cost of developing the proposed solution? Consider the cost against potential gains.
  10. 10. Successful Real Estate agents, earning $100k / year 1. Phone sales & webinars 2. Conferences Marketing Automation CRM Software Product WordPress Theme *Product* (not SaaS) for the DIY agent Tech disruption. First mover (the Spark API for IDX) 1. Me (product/tech) 2. John (BizDev/Sales) 1. Spark Platorm API 2. Access to all MLS IDX Feeds $50,000 to build core product $50,000 line of credit IDX Website/CRM software for serious RE agents to capture & nurture online leads and grow their business. Built on Wordpress so they can"own the system, not rent". First-mover advantage by integratingthe Spark IDX API which makes it possible. Real Estate IDX WordPress Themes May 9 IDX System to capture & nurture online leads 1. Own don't Rent (your website) 2. Beautiful original design Elevator Pitch Finally, develop a 3-4 sentence description of your proposed startup that concisely articulates the important points you’ve developed earlier on this worksheet. This is the 30 second pitch you can use to talk to investors and client prospects about your new startup.
  11. 11. Validate Your Hypothesis HYPOTHESIS VALIDATION Test Early, Test Often PROSPECT INTERVIEWS Do They Like the Idea? Feedback? TEST MARKETING Do ‘Vaporware’ Campaigns Convert? MINIMAL VIABLE PRODUCT Users Engaging & Using Product? With a well-articulated vision ready, you can begin sharing the concept with investors and customer prospects. If the idea is well received, advance to vapor-ware test campaigns and finally to building the “MVP”.
  12. 12. The Lean “build, learn, measure” feedback look is fantastic method for Eliciting user feedback early and often in the process and can help minimize inefficiencies if done right. Lean Feedback Loop Measure Learn Build Ideas Product Data HYPOTHESIS VALIDATION LEAN METHODOLOGY FINDING PRODUCT-MARKET FIT
  13. 13. THE SMARTER STARTUP STRATEGY FOR STARTUPS The Smarter Startup looks at why some startups succeed while others fail. By taking a more strategic approach to entrepreneurship, founders can improve their own outcomes. Written by Neal Cabage and Sonya Zhang, PhD, and published by Pearsons/NewRiders. SMARTER STARTUP The Book
  14. 14. SMARTER STARTUP SmarterStartup.org The framework, including the part described here, are posted on the website, along with downloadable worksheets and reference material. Everything is free to use, so enjoy!. www.SmarterStartup.org

×