Business Of Starting Up

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A simple checklist of things to do before you want to start the implementation cycle for your idea.

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Business Of Starting Up

  1. 1. Vaidhy Mayilrangam Sponsor : My next company Business of Starting Up
  2. 2. Ideas are easy...
  3. 3. Good ideas are hard...
  4. 4. Good business ideas are even harder.
  5. 5. What are we going to talk about? <ul><li>What makes a good business idea?
  6. 6. How to validate the idea? </li><ul><li>Dating the idea
  7. 7. Building the detail business case
  8. 8. Building the financial model </li></ul></ul>
  9. 9. A good business idea should be <ul><li>Doable
  10. 10. Repeatable
  11. 11. Scalable
  12. 12. Profit making </li></ul>
  13. 13. Date the idea <ul><li>Meet with friends
  14. 14. Meet with people familiar with the domain
  15. 15. Meet with people who think numbers </li></ul>
  16. 16. Dating becomes serious... <ul><li>Who is your ideal customer?
  17. 17. How many such customers are there?
  18. 18. What are their pain points?
  19. 19. Is your idea business critical or an improvement?
  20. 20. What are your channels to your potential customer? </li></ul>
  21. 21. Working with details <ul><li>Think
  22. 22. Document
  23. 23. Meet with people
  24. 24. Build your network
  25. 25. Validate your assumptions </li></ul>
  26. 26. Detail Devils <ul><li>How would you like to have in your team?
  27. 27. What is the positioning?
  28. 28. What is your marketing and sales process?
  29. 29. What is your PRD? Initial feature set?
  30. 30. Do you need initial investment or can you bootstrap?
  31. 31. Are your assumptions about the market valid? </li></ul>
  32. 32. Building out the financial model <ul><li>Reading and understanding financial terms
  33. 33. Thinking in even more detail
  34. 34. Contigency plans
  35. 35. Network, network, network </li></ul>
  36. 36. You have an idea.. <ul><li>COGS, CAC, LTV
  37. 37. Detailed working plan for 18 – 24 months
  38. 38. Product roadmap and return on features built
  39. 39. Documented assumptions
  40. 40. Measurable metrics </li></ul>
  41. 41. Some key points <ul><li>Pivot as early as you can
  42. 42. Co-founders in India are over-rated
  43. 43. Watch your cost at first and then splurge on marketing
  44. 44. You can only change things you measure.. so measure, measure, measure </li></ul>
  45. 45. Not the only way.. Jumping in head first also works.. sometimes
  46. 46. Key Takeaways <ul><li>Network
  47. 47. Think in as much detail as you can before you start implementing
  48. 48. Document the assumptions and validate those repeatedly
  49. 49. Measure and measure your change
  50. 50. Understand the numbers. They are the heart of business </li></ul>
  51. 51. ???

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