Ten Questions You Need To Ask Yourself To Launch Successfully

Ten Questions You Need
To Ask Yourself To Launch
Successfully
Davender Gupta
www.startupacademie.com
20001109
rev 20151125

What does a successful startup look like?
• Creates a useful product/service for its customers
• Generates revenue and profits
• Provides an environment for people to learn and be creative
• Happy place to work
• Gains respect and visibility from marketplace/peers
• Sets the standard for the industry
• Attracts smart and talented people
• Gets things done (does what it says it will do)
©2015 Startup-Académie All rights reserved.
2

The StartupMindset
Aims to solve an important problem for the user
by creating an offer which generates
a huge added value
for all stakeholders,
and with the goal to become
the new go-to standard for the market.
3

Five Stages of Growth
GROWTH
Is your solution the
new standard for the
market?
Market Leader
EFFICIENCY
Can you deliver the
solution efficiently and
effectively?
Capability Maturity
Index
VALIDATION
How much does the
market want this
solution?
Product-Market Fit
DEFINITION
This idea solves what
important problem for
the client?
Problem-Solution Fit
IDEA
Idea or concept
4

Getting Things Done
Idea
Strategy
Execution
Impact
WHY
Intellectual Capital
HOW
Strategic Capital
WHAT
LeadershipCapital
WHO
Relationship Capital
Before Plan
After Plan
Learning
5

The Test
Do not start, do not pass “GO”, until you can
answer these questions…
6

Ten Questions Summary
1. What is your idea?
2. Why do you want to do this?
3. What is the impact you want to create?
4. Who are the stakeholders?
5. How do you generate value?
6. How will your idea scale?
7. What makes this idea irresistibly attractive?
8. What resources do you need?
9. What can get in your way?
10.How committed are you?
7

• Vision of what you want to do
• The "void" (need) you want to fill
• Are you problem-driven or solution-driven? (there are
benefits/drawbacks of each approach)
What is the WOW in your idea?
8

What is your Big, Hairy, Audacious Game?
What you are
passionate about
What you can
be the best in
the world at
What generates
exponential
economic value
Your BIG, HAIRY
AUDACIOUS GAME
Mission, Vision, Values
Live Your Full Potential Game-Changing Results
9

MY
Ideas
Passions
Needs
Dreams
Interests
Desires
Resources
Ideas
Passions
Needs
Dreams
Interests
Desires
OF OTHERS
PROFIT
ZONE
NO MEANS
NO DEMAND NO ENERGY
10

• What are your personal values and priorities
• How does this idea fit with your personal life mission
• How do you define "success" for yourself?
• What do you have to contributeto the venture?
• Inventory of personal strengths, passions and weaknesses
• How does this idea fit with your own personal philosophy?
Why are YOU the right person
to make this happen?
11

• How the world will be different because of your idea?
• Benefits, impact on people
• How do you want to connect with people?
• Direct, indirect
What does success of this idea
look like for you?
12

THE
COMPANY
PartnersClients
Suppliers
Prospective
Clients
Government/
Regulatory
Employees/
Families
Industry
Shareholders
Investors
Sub-
contractors
Labour
Market
Enthusiasts
Natural
Environment
UsersNeighbours/
Community
Past Employees/
Pensioners
THE
COMPANY
PartnersClients
Suppliers
Prospective
Clients
Government/
Regulatory
Employees/
Families
Industry
Shareholders
Investors
Sub-
contractors
Labour
Market
Enthusiasts
Natural
Environment
UsersNeighbours/
Community
Past Employees/
Pensioners
13

5. What is the value you offer?
FRICTION
• What is the pain? What is the ache? What is broken?
• What is the cost of the pain/ache/break?
BENEFIT
• What is the benefit to solve the pain or ease the ache?
• What is the value-added of our solution to the user/customer/stakeholder?
DECISION TRIGGER
• What is the decision trigger for the customer or stakeholder?
• What is the unique value proposition that "disrupts" the user/customer's
experience for the better?
14

People don’t care what you do.
They only care about
what you do for them.
15

• Is your idea adaptable to “rapid prototyping”?
• How easy is it to evolve your idea as your learn the business?
• Is it duplicatable, licenseable, franchisable?
Can you make a profit
whether you are small or large?
16

• Attraction: Connected by passion
• Four P's (people - purpose - passion - profit)
• Where is the fundamental wealth created by this idea?
Can you build a community
around this idea?
17

• Allies and Partners
• Types of talent needed for your team
• Physical resources
• Financial resources
What are the projects and deliverables
to make this idea happen?
18

• Who has a business who can make the need for your business
evaporate?
• Where can you be blocked or sideswiped (technology, legislation,
economy, environment)
• What alternative ways customers can achieve similar or analogue
results?
What is your "secret sauce” for success?
19

10. How committed are you?
• How far will you go to make this succeed?
• Personal Exit Strategy -> when is it too much for you?
• When are you ready to go full-time on this venture?
If there is no evidence of success,
how far will you go?
20

First, Write Your Manifesto
Write your Manifesto:
• What is the change you wish to create in the world?
• Why this?
• Why now?
• Why me?
• What are you committed to creating?
21

Ten Questions Summary
5. How do you generate value?
10.How committed are you?
22

GO FOR IT!
23

Keep in touch!
Coach Davender Gupta, MSc
Venture Catalyst
Accélérateur d’entrepreneuriat
Startup-Académie
www.coachdavender.com
(Québec) 418 948-1553
(Montréal) 514 448-1894
coach@davender.com
www.startupacademie.com 24

Ten Questions You Need To Ask Yourself To Launch Successfully

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