SlideShare a Scribd company logo
Startup Maturity Checklist Sean Murphy (www.skmurphy.com) Silicon Valley Code Camp October 4, 2009 Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Who’s In The Audience? Employed: But I Have an Idea? Between Jobs: Should I Start a Company? Consultant: Want to Sell Products Not Time In a Team: Want to Pick Best Opportunity  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Early Stages For a Software Startup Ideas & Team Formation Open For Business Early Customers Finding Your Niche Scaling Up Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Ongoing Activities Teamwork Product Development Customer Development Formalizing Business & Processes Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Ideas & Team Formation You Have a Vision That You Can Communicate That Can Attract a Team To Become a Team, Agree On Goals Roles – Who Will Do What Course of Action – Next Steps Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Idea & Team Formation Focus Less On Technology Feasibility Focus More on Who Is the Customer? What is Their Pain? Avoid “Gnome Underpants Model” Steal Underpants ??? Profit Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Ideas & Team Formation Ready for Next Stage Mapped Business Ownership Structure Understand How To “Divide The Pie” Have Defined A Product Concept Ready To Test The Market Theory Target Customer / Problem / Pain Product Architecture / Feature Set Message / Benefits / Value Proposition Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Open For Business Infrastructure To Transact Business Often Little Or No Income Cost Containment Increases “Runway” Consider Short Term Income Generation  Break Full Vision Into Steps/Phases Primary Risk: Who Is Paying Customer? Can We Live Long Enough to Find Them? Not  “Can We Get Technology Working” Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Open For Business Key Issues For Founders What Value Do We Bring? How Do We Make Money? How Much Do We Charge? To Able To Have a Customer (Next Stage): Have A “Minimum Feature Product” To Sell. Corporate Structure That Can “Do Business” Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Early Customers Stage: Acquiring First Customers The Founders Are The Business Buying Process Looks Like A Hiring Decision. First Customers Often Already Know You Product Driven By Customer Opportunities Manage Risk Of Devolution Into Consulting Customer Development Often Ad Hoc  Challenge: Technology Adoption / Insertion You Need References More Than Revenue  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Early Customers Key Issues For Founders How Do We Find Smarter Customers? Who Else Do We Target? How To Insert Into Our Customer’s Business? Ready For Next Stage: Handful Of Satisfied & Paying Customers Note: Customers Are Who Pays You Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Finding Your Niche Developing A Core Set Of Customers  Who Reference Each Other’s Buy Decisions With Different Needs Than Mainstream Market This Is A Market Niche Product Distinct From Founders. New Customers Rely On Product References Features Driven By Market Niche Needs Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Finding Your Niche Key Issues for Founders We Have A Handful Of Customers, But Who Do We Sell To Next? How Do We Insert Into Our Customers Process? Ready for Next Stage: Repeatable Sales Process For One Niche Market Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Scaling Up Continue Growing a Sustainable Business  Expand Customer Base Into New Niche(s). Product Features Driven by New Niches.  Cash Flow More Stable and Predicable.  Customer Development More Traditional Sales, Marketing, Business Development. Team Adds Specialists Not Generalists Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Scaling Up Key Issues For Founders  We Cannot Do Everything We Need To Add Specialists  How Do We Expand Our Customer Base? Ready For Next Stage: “Real Business” Sustainable Business Vision For Growth & Identified Next Niche Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Stages Recap Show of Hands, How Many Are In: Formation Open For Business Early Customers Finding Your Niche Scaling Up Real Business Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Recap: Ongoing Activities Have Many Have Devoted 10% + Effort to: Teamwork Product Development Customer Development Formalizing Business & Processes Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist  Product Development Team: Intellectual Capital Product Development Maturity Checklist Customer Development Team: Social Capital Customer Development Maturity Checklist Business Operations Team: Financial Capital Business Operations Maturity Checklist  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Team:  Intellectual Capital Know-How, Experience, Methodology Enables Execution with Distinction Individual Skill Not Enough Demonstrated Ability to Deliver Projects Best: Carried an Idea to Revenue/Profit Unique Knowledge Drives Differentiation Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Where Are You Today A Guided Assessment Let’s Fill Out Startup Maturity Checklist Raise Your Hand If You Need a Handout Check Off An Item = Have Done The First Step Toward Getting Somewhere  Is To Decide That You Are Not Going To Stay Where You Are .  J. Pierpoint Morgan Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Product Development We Have Demonstrated Expertise And Experience In Prior Relevant Projects.  We Have Working Code And Test Data.  We Have Results From Customer Data.  We Have An Engagement And Installation Checklist: We Know How To Get Started With A New Customer. We Have Documentation And Training Materials.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Product Development We have a one page spec for the product.  We have a version control system (e.g. RCS, CVS, Subversion) for our source. We Have A Defect Tracking System To Report And Manage Defects In Product.  We Have A Planning Process To Manage Both Changes To Current Specification And Evolution Of New Features.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Team:  Social Capital Relationships & “People Skills” Prior Shared Success that You can Reactivate Social Navigation: Networking With a Goal Understand Cost and Transactions Founders Will Spend Social Capital On Trusted Feedback Early Sales Sourcing Advisors and Early Employees Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Team: Social Capital Early Sales Are a Chain of Credibility Connected: Friends / Shared Success One Step Away “Friends of Friends” Friends Give Credibility (to Both Parties) Two Steps Away: Strangers Buy References Give Credibility Prospect’s Primary Concerns are Intangible Performance Risks Require Substantiation Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Customer Development We Have A Presentation That Outlines Product Benefits.  We Have Both A Presentation And A Working Demo.  We Know What Questions To Ask To Identify Pain The Product Can Address.  At Least One Customer Is Evaluating or Using The Product.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Customer Development Customer Has Achieved A Satisfactory Outcome Using Product.  Customer Has Paid For The Product And Is Using It. Customer is Using The Product Now, Has Paid For It, and Plans to Use Our Next Release / Version When It Comes Out.  We Have Made a Sale to a Friend.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Customer Development We Have Made A Sale To A Friend Of A Friend.  We Have Identified Ways To Reach Target Rich Environments Of Strangers.  We Have Made A Sale To A Stranger. Two To Four Customers Have Paid For The Product.  Five To Ten Customers Have Purchased The Product, And  We Know Why .  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Customer Development Ten To Twenty Customers Have Purchased The Product And We Have A  Repeatable Sales Process We Can Scale.  We Have Trained A Salesperson Or Channel Partner And They Have Sold The Product. We Have A One Page Spec For The Features Needed For The Next Release.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Customer Development We Have An Incident Tracking System That Both Development And Customer Facing Employees Use To Report Customer Issues.  We Have A Product Roadmap That Has Been Reviewed And Approved By Key Customers For Bug Fixes And Major Enhancements.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Team: Financial Capital Sources of Financial Capital Self-Funded Friends & Family Qualified Investors: Angels, VC, & Corporate Revenue Revenue is the Best Form of Financing Early Market is About Low Cost Exploration Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Business Operations All Founders, Employees, And Contractors Have Signed A Patent, Invention, And Intellectual Property Assignment Agreement.  We Have A License Agreement That We Can Include In A Sales Proposal.  We Have Successfully Completed A Sale And Processed Payment. We Have Signed License Agreements For Our Customers And Understand What Terms Are Acceptable To The Majority Of Our Prospects.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Business Operations We Have Outside Advisors For Legal,  Accounting, and Other Key Issues  . We Are Incorporated And Have The Relevant Permits And Documentation (E.G. Federal Tax ID).  We Have An Accounting System (e.g. QuickBooks) And A Process To Plan, Review, And Approve Expenses.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Startup Maturity Checklist Business Operations We Formally Review Financial And Personnel Issues At Least Monthly, And Base Decisions On Data Available From Our Internal Systems And Procedures.  We Have A Process In Place For Hiring And Firing Employees.  Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
About SKMurphy, Inc. What We Do We Offer Customer Development Services New Technology Introduction Focus: Early Customers & Early Revenue We Assist On Strategic Decisions Niche Identification and Selection  Pricing Negotiation Sequence and Framework Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Upcoming Workshops www.skmurphy.com/services/workshops/ Getting More Customers  Sat-Oct-24-2009 Engineering Your Sales Process  Tue-Nov-10-2009 Idea to Revenue Jan 2010 TBD Also Six Bootstrapper Breakfasts A Month www.bootstrapperbreakfast.com   Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Please Let Us Know How The Session Was For you Feedback Card Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)
Thanks For Your Time In The Beginning… The Founders Are The Business To Keep The Business Viable, Learn Faster Than the Competition Successful Entrepreneurship  is a Self-Improvement Project Oct-4-2009 Startup Maturity Checklist  © 2009 SKMurphy, Inc. (www.skmurphy.com)

More Related Content

What's hot

The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...
The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...
The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...
Rod King, Ph.D.
 
Business model innovation
Business model innovationBusiness model innovation
Business model innovation
Leonardo Zangrando
 
Customer Development Class 3 And 4 090509
Customer Development Class 3 And 4 090509Customer Development Class 3 And 4 090509
Customer Development Class 3 And 4 090509
Stanford University
 
EIA 2015 Business Model Design with Lean Canvas
EIA 2015 Business Model Design with Lean CanvasEIA 2015 Business Model Design with Lean Canvas
EIA 2015 Business Model Design with Lean Canvas
European Innovation Academy
 
Venture Capital - PowerPoint Template
Venture Capital - PowerPoint TemplateVenture Capital - PowerPoint Template
Venture Capital - PowerPoint Template
24point0
 
Vertical Markets
Vertical MarketsVertical Markets
Vertical Markets
Venture Hacks
 
Value Propostition Canvas
Value Propostition CanvasValue Propostition Canvas
Value Propostition Canvas
Astella Investimentos
 
Service2media venturelab
Service2media venturelabService2media venturelab
Service2media venturelab
venlabtwente
 
Lecture on Entrepreneurship for the course CE 405 by Dr. Raquibul Hossain
Lecture on Entrepreneurship for the course CE 405 by Dr. Raquibul HossainLecture on Entrepreneurship for the course CE 405 by Dr. Raquibul Hossain
Lecture on Entrepreneurship for the course CE 405 by Dr. Raquibul Hossain
nazifa tabassum
 

What's hot (9)

The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...
The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...
The Modern Enterpreneur's Blueprint (MEB) for Success: For Kid-Entrepreneurs ...
 
Business model innovation
Business model innovationBusiness model innovation
Business model innovation
 
Customer Development Class 3 And 4 090509
Customer Development Class 3 And 4 090509Customer Development Class 3 And 4 090509
Customer Development Class 3 And 4 090509
 
EIA 2015 Business Model Design with Lean Canvas
EIA 2015 Business Model Design with Lean CanvasEIA 2015 Business Model Design with Lean Canvas
EIA 2015 Business Model Design with Lean Canvas
 
Venture Capital - PowerPoint Template
Venture Capital - PowerPoint TemplateVenture Capital - PowerPoint Template
Venture Capital - PowerPoint Template
 
Vertical Markets
Vertical MarketsVertical Markets
Vertical Markets
 
Value Propostition Canvas
Value Propostition CanvasValue Propostition Canvas
Value Propostition Canvas
 
Service2media venturelab
Service2media venturelabService2media venturelab
Service2media venturelab
 
Lecture on Entrepreneurship for the course CE 405 by Dr. Raquibul Hossain
Lecture on Entrepreneurship for the course CE 405 by Dr. Raquibul HossainLecture on Entrepreneurship for the course CE 405 by Dr. Raquibul Hossain
Lecture on Entrepreneurship for the course CE 405 by Dr. Raquibul Hossain
 

Viewers also liked

Maturity model for Startup Ecosystems
Maturity model for Startup EcosystemsMaturity model for Startup Ecosystems
Maturity model for Startup Ecosystems
Daniel Cukier
 
Desarrollo de pruebas en entornos Java EE
Desarrollo de pruebas en entornos Java EEDesarrollo de pruebas en entornos Java EE
Desarrollo de pruebas en entornos Java EE
José Manuel López
 
Software Startup Ecosystems Evolution - The New York City Case Study
Software Startup Ecosystems Evolution - The New York City Case StudySoftware Startup Ecosystems Evolution - The New York City Case Study
Software Startup Ecosystems Evolution - The New York City Case Study
Daniel Cukier
 
How to Start a Tech Company
How to Start a Tech CompanyHow to Start a Tech Company
How to Start a Tech Company
Suzanne Dergacheva
 
Praca Codibly - Demand Response Management
Praca Codibly - Demand Response ManagementPraca Codibly - Demand Response Management
Praca Codibly - Demand Response Management
Codibly - Software House
 
Programmer To Ceo: How to start your own software business
Programmer To Ceo: How to start your own software businessProgrammer To Ceo: How to start your own software business
Programmer To Ceo: How to start your own software business
shodson
 
Starting a Software Developer Career
Starting a Software Developer CareerStarting a Software Developer Career
Starting a Software Developer Career
Aleksejs Truhans
 
Why and How to do a Software Startup
Why and How to do a Software StartupWhy and How to do a Software Startup
Why and How to do a Software Startup
kyptin
 
Services, tools & practices for a software house
Services, tools & practices for a software houseServices, tools & practices for a software house
Services, tools & practices for a software house
Paris Apostolopoulos
 
Starting a Software Development Business
Starting a Software Development BusinessStarting a Software Development Business
Starting a Software Development Business
Joe Walling
 
CMMI-DEV 1.3 Tool (checklist)
CMMI-DEV 1.3 Tool (checklist)CMMI-DEV 1.3 Tool (checklist)
CMMI-DEV 1.3 Tool (checklist)
Robert Levy
 
How to Build a Software Company by Hamid Shojaee
How to Build a Software Company by Hamid ShojaeeHow to Build a Software Company by Hamid Shojaee
How to Build a Software Company by Hamid Shojaee
PHX Startup Week
 
PJ Software Company Presentation
PJ Software Company PresentationPJ Software Company Presentation
PJ Software Company Presentation
PJ Software
 
Software company marketing plan outline
Software company marketing plan outlineSoftware company marketing plan outline
Software company marketing plan outline
Daniel Stiel
 

Viewers also liked (14)

Maturity model for Startup Ecosystems
Maturity model for Startup EcosystemsMaturity model for Startup Ecosystems
Maturity model for Startup Ecosystems
 
Desarrollo de pruebas en entornos Java EE
Desarrollo de pruebas en entornos Java EEDesarrollo de pruebas en entornos Java EE
Desarrollo de pruebas en entornos Java EE
 
Software Startup Ecosystems Evolution - The New York City Case Study
Software Startup Ecosystems Evolution - The New York City Case StudySoftware Startup Ecosystems Evolution - The New York City Case Study
Software Startup Ecosystems Evolution - The New York City Case Study
 
How to Start a Tech Company
How to Start a Tech CompanyHow to Start a Tech Company
How to Start a Tech Company
 
Praca Codibly - Demand Response Management
Praca Codibly - Demand Response ManagementPraca Codibly - Demand Response Management
Praca Codibly - Demand Response Management
 
Programmer To Ceo: How to start your own software business
Programmer To Ceo: How to start your own software businessProgrammer To Ceo: How to start your own software business
Programmer To Ceo: How to start your own software business
 
Starting a Software Developer Career
Starting a Software Developer CareerStarting a Software Developer Career
Starting a Software Developer Career
 
Why and How to do a Software Startup
Why and How to do a Software StartupWhy and How to do a Software Startup
Why and How to do a Software Startup
 
Services, tools & practices for a software house
Services, tools & practices for a software houseServices, tools & practices for a software house
Services, tools & practices for a software house
 
Starting a Software Development Business
Starting a Software Development BusinessStarting a Software Development Business
Starting a Software Development Business
 
CMMI-DEV 1.3 Tool (checklist)
CMMI-DEV 1.3 Tool (checklist)CMMI-DEV 1.3 Tool (checklist)
CMMI-DEV 1.3 Tool (checklist)
 
How to Build a Software Company by Hamid Shojaee
How to Build a Software Company by Hamid ShojaeeHow to Build a Software Company by Hamid Shojaee
How to Build a Software Company by Hamid Shojaee
 
PJ Software Company Presentation
PJ Software Company PresentationPJ Software Company Presentation
PJ Software Company Presentation
 
Software company marketing plan outline
Software company marketing plan outlineSoftware company marketing plan outline
Software company marketing plan outline
 

Similar to Software Startup Stages / Maturity Checklist SVCC09

How to create a pitch deck - Sequoia Capital Pitch Deck Template
How to create a pitch deck - Sequoia Capital Pitch Deck TemplateHow to create a pitch deck - Sequoia Capital Pitch Deck Template
How to create a pitch deck - Sequoia Capital Pitch Deck Template
Ahmad El-Saeed
 
SXSW Business Case Workshop 2015
SXSW Business Case Workshop 2015SXSW Business Case Workshop 2015
SXSW Business Case Workshop 2015
R/GA
 
How to create products that don't suck RISE 2013
How to create products that don't suck   RISE 2013How to create products that don't suck   RISE 2013
How to create products that don't suck RISE 2013
CompellingPM
 
Business model
Business modelBusiness model
Business model
Dr. Shivananda Koteshwar
 
Revenue in America : Scaling businesses in the US
Revenue in America:  Scaling businesses in the USRevenue in America:  Scaling businesses in the US
Revenue in America : Scaling businesses in the US
Vision & Execution, Inc.
 
7 Steps To Successful Turnaround
7 Steps To Successful Turnaround7 Steps To Successful Turnaround
7 Steps To Successful Turnaround
Andee Sellman
 
6 Register your team
6 Register your team6 Register your team
6 Register your team
PotentialCom
 
Kmg phila presentation 11 nov09
Kmg phila presentation 11 nov09Kmg phila presentation 11 nov09
Kmg phila presentation 11 nov09
Iknow LLC
 
The Lean Startup Game
The Lean Startup GameThe Lean Startup Game
The Lean Startup Game
Ram Srinivasan, CST
 
How to Create Products That Don't Suck - ProductCamp Austin 13
How to Create Products That Don't Suck - ProductCamp Austin 13How to Create Products That Don't Suck - ProductCamp Austin 13
How to Create Products That Don't Suck - ProductCamp Austin 13
CompellingPM
 
why join a start up?
why join a start up?why join a start up?
why join a start up?
Ganesh Padmanabhan
 
Why join a start up
Why join a start upWhy join a start up
Why join a start up
Ganesh Padmanabhan
 
Why join a start up
Why join a start upWhy join a start up
Why join a start up
Ganesh Padmanabhan
 
Cloud Academy: Getting Started (June 17, 2015)
Cloud Academy: Getting Started (June 17, 2015)Cloud Academy: Getting Started (June 17, 2015)
Cloud Academy: Getting Started (June 17, 2015)
Salesforce Partners
 
Engineering Your Sales Process
Engineering Your Sales ProcessEngineering Your Sales Process
Engineering Your Sales Process
SalesQualia
 
Launching a New Product in Established Company by Microsoft PM Dir
Launching a New Product in Established Company by Microsoft PM DirLaunching a New Product in Established Company by Microsoft PM Dir
Launching a New Product in Established Company by Microsoft PM Dir
Product School
 
Kuratko 8e Ch 09.ppt
Kuratko 8e Ch 09.pptKuratko 8e Ch 09.ppt
Kuratko 8e Ch 09.ppt
ANUBHASRIVASTAVABUSI
 
How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013
CompellingPM
 
Sxsw New Rules for the New Bubble 031211
Sxsw New Rules for the New Bubble 031211Sxsw New Rules for the New Bubble 031211
Sxsw New Rules for the New Bubble 031211
Stanford University
 
APP Academy: Sales (Virtual Classroom) - slides
APP Academy: Sales (Virtual Classroom) - slidesAPP Academy: Sales (Virtual Classroom) - slides
APP Academy: Sales (Virtual Classroom) - slides
Salesforce Partners
 

Similar to Software Startup Stages / Maturity Checklist SVCC09 (20)

How to create a pitch deck - Sequoia Capital Pitch Deck Template
How to create a pitch deck - Sequoia Capital Pitch Deck TemplateHow to create a pitch deck - Sequoia Capital Pitch Deck Template
How to create a pitch deck - Sequoia Capital Pitch Deck Template
 
SXSW Business Case Workshop 2015
SXSW Business Case Workshop 2015SXSW Business Case Workshop 2015
SXSW Business Case Workshop 2015
 
How to create products that don't suck RISE 2013
How to create products that don't suck   RISE 2013How to create products that don't suck   RISE 2013
How to create products that don't suck RISE 2013
 
Business model
Business modelBusiness model
Business model
 
Revenue in America : Scaling businesses in the US
Revenue in America:  Scaling businesses in the USRevenue in America:  Scaling businesses in the US
Revenue in America : Scaling businesses in the US
 
7 Steps To Successful Turnaround
7 Steps To Successful Turnaround7 Steps To Successful Turnaround
7 Steps To Successful Turnaround
 
6 Register your team
6 Register your team6 Register your team
6 Register your team
 
Kmg phila presentation 11 nov09
Kmg phila presentation 11 nov09Kmg phila presentation 11 nov09
Kmg phila presentation 11 nov09
 
The Lean Startup Game
The Lean Startup GameThe Lean Startup Game
The Lean Startup Game
 
How to Create Products That Don't Suck - ProductCamp Austin 13
How to Create Products That Don't Suck - ProductCamp Austin 13How to Create Products That Don't Suck - ProductCamp Austin 13
How to Create Products That Don't Suck - ProductCamp Austin 13
 
why join a start up?
why join a start up?why join a start up?
why join a start up?
 
Why join a start up
Why join a start upWhy join a start up
Why join a start up
 
Why join a start up
Why join a start upWhy join a start up
Why join a start up
 
Cloud Academy: Getting Started (June 17, 2015)
Cloud Academy: Getting Started (June 17, 2015)Cloud Academy: Getting Started (June 17, 2015)
Cloud Academy: Getting Started (June 17, 2015)
 
Engineering Your Sales Process
Engineering Your Sales ProcessEngineering Your Sales Process
Engineering Your Sales Process
 
Launching a New Product in Established Company by Microsoft PM Dir
Launching a New Product in Established Company by Microsoft PM DirLaunching a New Product in Established Company by Microsoft PM Dir
Launching a New Product in Established Company by Microsoft PM Dir
 
Kuratko 8e Ch 09.ppt
Kuratko 8e Ch 09.pptKuratko 8e Ch 09.ppt
Kuratko 8e Ch 09.ppt
 
How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013
 
Sxsw New Rules for the New Bubble 031211
Sxsw New Rules for the New Bubble 031211Sxsw New Rules for the New Bubble 031211
Sxsw New Rules for the New Bubble 031211
 
APP Academy: Sales (Virtual Classroom) - slides
APP Academy: Sales (Virtual Classroom) - slidesAPP Academy: Sales (Virtual Classroom) - slides
APP Academy: Sales (Virtual Classroom) - slides
 

Recently uploaded

Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...
Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...
Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...
bhumivarma35300
 
THALA FOR A REASON Quiz set by Diganta Palit
THALA FOR A REASON Quiz set by Diganta PalitTHALA FOR A REASON Quiz set by Diganta Palit
THALA FOR A REASON Quiz set by Diganta Palit
digantasahitya
 
Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...
Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...
Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...
Eticketing.co
 
UEFA EURO 2024 the football saga on the continent of Europe.pdf
UEFA EURO 2024 the football saga on the continent of Europe.pdfUEFA EURO 2024 the football saga on the continent of Europe.pdf
UEFA EURO 2024 the football saga on the continent of Europe.pdf
ah9631533
 
SEMIFINALES LIGA MURO 2024BASQUETBOL.pdf
SEMIFINALES LIGA MURO 2024BASQUETBOL.pdfSEMIFINALES LIGA MURO 2024BASQUETBOL.pdf
SEMIFINALES LIGA MURO 2024BASQUETBOL.pdf
Arturo Pacheco Alvarez
 
Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12
Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12
Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12
Apk Toly
 
Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...
Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...
Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...
Eticketing.co
 
Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...
Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...
Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...
norina2645
 
Kamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdf
Kamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdfKamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdf
Kamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdf
Eticketing.co
 
Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...
Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...
Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...
Eticketing.co
 
Paris 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdf
Paris 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdfParis 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdf
Paris 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdf
Eticketing.co
 
The Paris Olympic Opening Ceremony Starting Date and Time.pdf
The Paris Olympic Opening Ceremony Starting Date and Time.pdfThe Paris Olympic Opening Ceremony Starting Date and Time.pdf
The Paris Olympic Opening Ceremony Starting Date and Time.pdf
Eticketing.co
 
Turkiye and Italy Eye Squad Overhauls for FIFA 2026.docx
Turkiye and Italy Eye Squad Overhauls for FIFA 2026.docxTurkiye and Italy Eye Squad Overhauls for FIFA 2026.docx
Turkiye and Italy Eye Squad Overhauls for FIFA 2026.docx
FIFA world Cup
 
Who will Julian Nagelsmann take to FIFA World Cup 2026.docx
Who will Julian Nagelsmann take to FIFA World Cup 2026.docxWho will Julian Nagelsmann take to FIFA World Cup 2026.docx
Who will Julian Nagelsmann take to FIFA World Cup 2026.docx
FIFA world Cup
 
Agility training from the top downnn.pdf
Agility training from the top downnn.pdfAgility training from the top downnn.pdf
Agility training from the top downnn.pdf
jango D
 
Chennai Girls call 👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room Delivery
Chennai Girls call  👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room DeliveryChennai Girls call  👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room Delivery
Chennai Girls call 👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room Delivery
sunilverma7884
 
Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...
Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...
Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...
Eticketing.co
 
Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...
Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...
Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...
Worldwideticketsandhospitality
 
Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...
Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...
Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...
dizzycaye
 
Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...
Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...
Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...
Eticketing.co
 

Recently uploaded (20)

Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...
Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...
Female Girls call Pune 000XX00000 Provide Best And Top Girl Service And No1 i...
 
THALA FOR A REASON Quiz set by Diganta Palit
THALA FOR A REASON Quiz set by Diganta PalitTHALA FOR A REASON Quiz set by Diganta Palit
THALA FOR A REASON Quiz set by Diganta Palit
 
Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...
Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...
Olympic 2024 Basketball Preview Team USA Faces Formidable Challenges from Ger...
 
UEFA EURO 2024 the football saga on the continent of Europe.pdf
UEFA EURO 2024 the football saga on the continent of Europe.pdfUEFA EURO 2024 the football saga on the continent of Europe.pdf
UEFA EURO 2024 the football saga on the continent of Europe.pdf
 
SEMIFINALES LIGA MURO 2024BASQUETBOL.pdf
SEMIFINALES LIGA MURO 2024BASQUETBOL.pdfSEMIFINALES LIGA MURO 2024BASQUETBOL.pdf
SEMIFINALES LIGA MURO 2024BASQUETBOL.pdf
 
Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12
Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12
Download Grand Theft Auto: Vice City Mod Apk Latest Version 1.12
 
Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...
Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...
Paris 2024 Brazil's Men's Football Team Misses Out, Reflecting on Past and Fu...
 
Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...
Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...
Exclusive Girls Call Mumbai 🛵🚡9910780858 💃 Choose Best And Top Girl Service A...
 
Kamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdf
Kamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdfKamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdf
Kamala Harris Boosts USA Basketball Team’s Olympic 2024 Gold Quest.pdf
 
Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...
Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...
Paris 2024 USA’s Men’s Basketball Dominates Canada in Exhibition Match, Kawhi...
 
Paris 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdf
Paris 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdfParis 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdf
Paris 2024 Olympic Swimming Stars, Rising Talents, and Challenges Ahead.pdf
 
The Paris Olympic Opening Ceremony Starting Date and Time.pdf
The Paris Olympic Opening Ceremony Starting Date and Time.pdfThe Paris Olympic Opening Ceremony Starting Date and Time.pdf
The Paris Olympic Opening Ceremony Starting Date and Time.pdf
 
Turkiye and Italy Eye Squad Overhauls for FIFA 2026.docx
Turkiye and Italy Eye Squad Overhauls for FIFA 2026.docxTurkiye and Italy Eye Squad Overhauls for FIFA 2026.docx
Turkiye and Italy Eye Squad Overhauls for FIFA 2026.docx
 
Who will Julian Nagelsmann take to FIFA World Cup 2026.docx
Who will Julian Nagelsmann take to FIFA World Cup 2026.docxWho will Julian Nagelsmann take to FIFA World Cup 2026.docx
Who will Julian Nagelsmann take to FIFA World Cup 2026.docx
 
Agility training from the top downnn.pdf
Agility training from the top downnn.pdfAgility training from the top downnn.pdf
Agility training from the top downnn.pdf
 
Chennai Girls call 👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room Delivery
Chennai Girls call  👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room DeliveryChennai Girls call  👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room Delivery
Chennai Girls call 👀 XXXXXXXXXXX 👀 Rs.9.5 K Cash Payment With Room Delivery
 
Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...
Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...
Euro Cup Final Showdown Spain, France, England, and Netherlands Battle for Gl...
 
Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...
Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...
Italy FIFA World Cup Italy coach Mancini We want to win the World Cup in 2026...
 
Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...
Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...
Girls Call Navi Mumbai 9930245274 Provide Best And Top Girl Service And No1 i...
 
Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...
Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...
Paris Olympic A Historic Olympic Opening Celebration of Tradition and Innovat...
 

Software Startup Stages / Maturity Checklist SVCC09

  • 1. Startup Maturity Checklist Sean Murphy (www.skmurphy.com) Silicon Valley Code Camp October 4, 2009 Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 2. Who’s In The Audience? Employed: But I Have an Idea? Between Jobs: Should I Start a Company? Consultant: Want to Sell Products Not Time In a Team: Want to Pick Best Opportunity Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 3. Early Stages For a Software Startup Ideas & Team Formation Open For Business Early Customers Finding Your Niche Scaling Up Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 4. Ongoing Activities Teamwork Product Development Customer Development Formalizing Business & Processes Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 5. Ideas & Team Formation You Have a Vision That You Can Communicate That Can Attract a Team To Become a Team, Agree On Goals Roles – Who Will Do What Course of Action – Next Steps Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 6. Idea & Team Formation Focus Less On Technology Feasibility Focus More on Who Is the Customer? What is Their Pain? Avoid “Gnome Underpants Model” Steal Underpants ??? Profit Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 7. Ideas & Team Formation Ready for Next Stage Mapped Business Ownership Structure Understand How To “Divide The Pie” Have Defined A Product Concept Ready To Test The Market Theory Target Customer / Problem / Pain Product Architecture / Feature Set Message / Benefits / Value Proposition Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 8. Open For Business Infrastructure To Transact Business Often Little Or No Income Cost Containment Increases “Runway” Consider Short Term Income Generation Break Full Vision Into Steps/Phases Primary Risk: Who Is Paying Customer? Can We Live Long Enough to Find Them? Not “Can We Get Technology Working” Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 9. Open For Business Key Issues For Founders What Value Do We Bring? How Do We Make Money? How Much Do We Charge? To Able To Have a Customer (Next Stage): Have A “Minimum Feature Product” To Sell. Corporate Structure That Can “Do Business” Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 10. Early Customers Stage: Acquiring First Customers The Founders Are The Business Buying Process Looks Like A Hiring Decision. First Customers Often Already Know You Product Driven By Customer Opportunities Manage Risk Of Devolution Into Consulting Customer Development Often Ad Hoc Challenge: Technology Adoption / Insertion You Need References More Than Revenue Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 11. Early Customers Key Issues For Founders How Do We Find Smarter Customers? Who Else Do We Target? How To Insert Into Our Customer’s Business? Ready For Next Stage: Handful Of Satisfied & Paying Customers Note: Customers Are Who Pays You Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 12. Finding Your Niche Developing A Core Set Of Customers Who Reference Each Other’s Buy Decisions With Different Needs Than Mainstream Market This Is A Market Niche Product Distinct From Founders. New Customers Rely On Product References Features Driven By Market Niche Needs Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 13. Finding Your Niche Key Issues for Founders We Have A Handful Of Customers, But Who Do We Sell To Next? How Do We Insert Into Our Customers Process? Ready for Next Stage: Repeatable Sales Process For One Niche Market Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 14. Scaling Up Continue Growing a Sustainable Business Expand Customer Base Into New Niche(s). Product Features Driven by New Niches. Cash Flow More Stable and Predicable. Customer Development More Traditional Sales, Marketing, Business Development. Team Adds Specialists Not Generalists Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 15. Scaling Up Key Issues For Founders We Cannot Do Everything We Need To Add Specialists How Do We Expand Our Customer Base? Ready For Next Stage: “Real Business” Sustainable Business Vision For Growth & Identified Next Niche Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 16. Startup Stages Recap Show of Hands, How Many Are In: Formation Open For Business Early Customers Finding Your Niche Scaling Up Real Business Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 17. Recap: Ongoing Activities Have Many Have Devoted 10% + Effort to: Teamwork Product Development Customer Development Formalizing Business & Processes Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 18. Startup Maturity Checklist Product Development Team: Intellectual Capital Product Development Maturity Checklist Customer Development Team: Social Capital Customer Development Maturity Checklist Business Operations Team: Financial Capital Business Operations Maturity Checklist Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 19. Team: Intellectual Capital Know-How, Experience, Methodology Enables Execution with Distinction Individual Skill Not Enough Demonstrated Ability to Deliver Projects Best: Carried an Idea to Revenue/Profit Unique Knowledge Drives Differentiation Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 20. Where Are You Today A Guided Assessment Let’s Fill Out Startup Maturity Checklist Raise Your Hand If You Need a Handout Check Off An Item = Have Done The First Step Toward Getting Somewhere Is To Decide That You Are Not Going To Stay Where You Are . J. Pierpoint Morgan Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 21. Startup Maturity Checklist Product Development We Have Demonstrated Expertise And Experience In Prior Relevant Projects. We Have Working Code And Test Data. We Have Results From Customer Data. We Have An Engagement And Installation Checklist: We Know How To Get Started With A New Customer. We Have Documentation And Training Materials. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 22. Startup Maturity Checklist Product Development We have a one page spec for the product. We have a version control system (e.g. RCS, CVS, Subversion) for our source. We Have A Defect Tracking System To Report And Manage Defects In Product. We Have A Planning Process To Manage Both Changes To Current Specification And Evolution Of New Features. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 23. Team: Social Capital Relationships & “People Skills” Prior Shared Success that You can Reactivate Social Navigation: Networking With a Goal Understand Cost and Transactions Founders Will Spend Social Capital On Trusted Feedback Early Sales Sourcing Advisors and Early Employees Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 24. Team: Social Capital Early Sales Are a Chain of Credibility Connected: Friends / Shared Success One Step Away “Friends of Friends” Friends Give Credibility (to Both Parties) Two Steps Away: Strangers Buy References Give Credibility Prospect’s Primary Concerns are Intangible Performance Risks Require Substantiation Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 25. Startup Maturity Checklist Customer Development We Have A Presentation That Outlines Product Benefits. We Have Both A Presentation And A Working Demo. We Know What Questions To Ask To Identify Pain The Product Can Address. At Least One Customer Is Evaluating or Using The Product. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 26. Startup Maturity Checklist Customer Development Customer Has Achieved A Satisfactory Outcome Using Product. Customer Has Paid For The Product And Is Using It. Customer is Using The Product Now, Has Paid For It, and Plans to Use Our Next Release / Version When It Comes Out. We Have Made a Sale to a Friend. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 27. Startup Maturity Checklist Customer Development We Have Made A Sale To A Friend Of A Friend. We Have Identified Ways To Reach Target Rich Environments Of Strangers. We Have Made A Sale To A Stranger. Two To Four Customers Have Paid For The Product. Five To Ten Customers Have Purchased The Product, And We Know Why . Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 28. Startup Maturity Checklist Customer Development Ten To Twenty Customers Have Purchased The Product And We Have A Repeatable Sales Process We Can Scale. We Have Trained A Salesperson Or Channel Partner And They Have Sold The Product. We Have A One Page Spec For The Features Needed For The Next Release. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 29. Startup Maturity Checklist Customer Development We Have An Incident Tracking System That Both Development And Customer Facing Employees Use To Report Customer Issues. We Have A Product Roadmap That Has Been Reviewed And Approved By Key Customers For Bug Fixes And Major Enhancements. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 30. Team: Financial Capital Sources of Financial Capital Self-Funded Friends & Family Qualified Investors: Angels, VC, & Corporate Revenue Revenue is the Best Form of Financing Early Market is About Low Cost Exploration Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 31. Startup Maturity Checklist Business Operations All Founders, Employees, And Contractors Have Signed A Patent, Invention, And Intellectual Property Assignment Agreement. We Have A License Agreement That We Can Include In A Sales Proposal. We Have Successfully Completed A Sale And Processed Payment. We Have Signed License Agreements For Our Customers And Understand What Terms Are Acceptable To The Majority Of Our Prospects. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 32. Startup Maturity Checklist Business Operations We Have Outside Advisors For Legal, Accounting, and Other Key Issues . We Are Incorporated And Have The Relevant Permits And Documentation (E.G. Federal Tax ID). We Have An Accounting System (e.g. QuickBooks) And A Process To Plan, Review, And Approve Expenses. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 33. Startup Maturity Checklist Business Operations We Formally Review Financial And Personnel Issues At Least Monthly, And Base Decisions On Data Available From Our Internal Systems And Procedures. We Have A Process In Place For Hiring And Firing Employees. Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 34. About SKMurphy, Inc. What We Do We Offer Customer Development Services New Technology Introduction Focus: Early Customers & Early Revenue We Assist On Strategic Decisions Niche Identification and Selection Pricing Negotiation Sequence and Framework Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 35. Upcoming Workshops www.skmurphy.com/services/workshops/ Getting More Customers Sat-Oct-24-2009 Engineering Your Sales Process Tue-Nov-10-2009 Idea to Revenue Jan 2010 TBD Also Six Bootstrapper Breakfasts A Month www.bootstrapperbreakfast.com Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 36. Please Let Us Know How The Session Was For you Feedback Card Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)
  • 37. Thanks For Your Time In The Beginning… The Founders Are The Business To Keep The Business Viable, Learn Faster Than the Competition Successful Entrepreneurship is a Self-Improvement Project Oct-4-2009 Startup Maturity Checklist © 2009 SKMurphy, Inc. (www.skmurphy.com)