Vaidhy Mayilrangam provides advice on developing a good business idea and starting a new company. Some key steps include validating the idea by getting feedback from potential customers and experts, thoroughly researching the market and building financial models, and continuously measuring metrics and pivoting the idea based on data. Starting a business requires thinking through details like target customers, costs, and revenue models before implementing in order to have the greatest chance of success.

1. Vaidhy Mayilrangam Sponsor : My next company Business of Starting Up

2. Ideas are easy...

3. Good ideas are hard...

4. Good business ideas are even harder.

7. Building the detail business case

8. Building the financial model

10. Repeatable

11. Scalable

12. Profit making

14. Meet with people familiar with the domain

15. Meet with people who think numbers

17. How many such customers are there?

18. What are their pain points?

19. Is your idea business critical or an improvement?

20. What are your channels to your potential customer?

22. Document

23. Meet with people

24. Build your network

25. Validate your assumptions

27. What is the positioning?

28. What is your marketing and sales process?

29. What is your PRD? Initial feature set?

30. Do you need initial investment or can you bootstrap?

31. Are your assumptions about the market valid?

33. Thinking in even more detail

34. Contigency plans

35. Network, network, network

37. Detailed working plan for 18 – 24 months

38. Product roadmap and return on features built

39. Documented assumptions

40. Measurable metrics

42. Co-founders in India are over-rated

43. Watch your cost at first and then splurge on marketing

44. You can only change things you measure.. so measure, measure, measure

45. Not the only way.. Jumping in head first also works.. sometimes

47. Think in as much detail as you can before you start implementing

48. Document the assumptions and validate those repeatedly

49. Measure and measure your change

50. Understand the numbers. They are the heart of business

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