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Startup Validation: Difference between revisions
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* Where do you want to be in 5 or 10 years? | * Where do you want to be in 5 or 10 years? | ||
* Do you have an exit plan? | * Do you have an exit plan? | ||
==== Businessmodel & Moats ==== | |||
* How would you describe your business model? | |||
* Why does the market opportunity exists? Why did no one else capture that market yet? | |||
* What is the endgame in your market? How strong are network effects? How much consolidations are you expected to see? | |||
* What is the most valuable resource in your business? What will be the deciding factor which businesses are going to be successful or not? | |||
* How will one business be able to take market share from the other? (Better product, pricing etc.) | |||
* Which types of moats are you hoping to build for your business? | |||
* Are there any moats that competitors have which are not obtainable for you? | |||
* What are power dynamics between different players in your market? (e.g. different vendors/partners, competitors, costumers) | |||
* How are contracts structured generally speaking? | |||
==== Product ==== | ==== Product ==== | ||
* What makes your product stand apart from competition? What is your USP? | * What makes your product stand apart from competition? What is your USP? | ||
* Which part of your product are you most proud of? In which area do you need to get better? | * Which part of your product are you most proud of? In which area do you need to get better? | ||
* Are there any (technical) explanations of your product available? | * Are there any (technical) explanations/demonstrations of your product available so we could get a better understanding of it? | ||
* How could we independently validate the quality of your product? | * How could we independently validate the quality of your product? | ||
* Has the product gone through iterations? For how long is the product already in its current iteration? | * Has the product gone through iterations? For how long is the product already in its current iteration? | ||
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* How big is the total addressable market? How large is the serviceable available market? Which assumptions did you make in your calculations? | * How big is the total addressable market? How large is the serviceable available market? Which assumptions did you make in your calculations? | ||
* Which % marketshare do you think you can obtain and hold longterm. Why? | * Which % marketshare do you think you can obtain and hold longterm. Why? | ||
* How much revenue did you generate so far? | * How much revenue did you generate so far? | ||
* How much realistic revenue can you generate within your current vertical? | * How much realistic revenue can you generate within your current vertical? | ||
* What are you revenue growth projections? What kind of assumptions, targets, kpis did you set yourself? What is currently the limiting factor for growth? | * What are you revenue growth projections? What kind of assumptions, targets, kpis did you set yourself? What is currently the limiting factor for growth? | ||
* What are you expansion plans beyond that? Which verticals are you going to tackle next? When will you tackle those verticals? | * What are you expansion plans beyond that? Which verticals are you going to tackle next? When will you tackle those verticals? | ||
* | * How do you market your product? How high are your Costumer acquisition costs and costumer lifetime value? | ||
==== Clients ==== | ==== Clients ==== | ||
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* How large is the pool of potential partners you can work with? Which % of them do you need to sign in order to succeed? | * How large is the pool of potential partners you can work with? Which % of them do you need to sign in order to succeed? | ||
* How many potential partners did you already contact or had discussions with? What are conversion rates when reaching out to people? How far progressed are contract discussions? | * How many potential partners did you already contact or had discussions with? What are conversion rates when reaching out to people? How far progressed are contract discussions? | ||
==== Competition ==== | |||
* What are your two biggest direct competitors and who are your two biggest indirect competitors? | |||
* Do you have an unfair/sustainable advantage over your competition? | |||
* Which type of players are you seeing as your most serious challengers in the next years? | |||
==== Roadmap ==== | ==== Roadmap ==== | ||
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* What would you say are the biggest weak points of you business model? | * What would you say are the biggest weak points of you business model? | ||
* Where do you personally think you have the biggest blind spot and is there a team member who covers it for you? | * Where do you personally think you have the biggest blind spot and is there a team member who covers it for you? | ||
== Investment == | == Investment == | ||