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Startup Vision
Definition
SmarterStartup.org	
  
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.
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
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).
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)
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?
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?
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?
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.
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.
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”.
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
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
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

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Startup Vision definition

  • 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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