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Startup Validation: Difference between revisions
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* How would you describe your business model? | * How would you describe your business model? | ||
* Why does the market opportunity exists? Why did no one else capture that market yet? | * 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 | * What is the endgame in your market? How strong are network effects? How much consolidation are you expecting 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? | * 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.) | * 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? | * 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? | * 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. | * What are power dynamics between different players in your market? (e.g. between your and your vendors/partners and costumers) | ||
* How are contracts structured generally speaking? | * How are contracts structured generally speaking? | ||
* What are your two biggest direct competitors and who are your two biggest indirect competitors? | * What are your two biggest direct competitors and who are your two biggest indirect competitors? | ||
* Which type of players are you seeing as your most serious challengers in the next years? | * Which type of players are you seeing as your most serious challengers in the next years? | ||
==== 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? Do you have an unfair/sustainable advantage over your competition? | ||
* 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/demonstrations of your product available so we could get a better understanding of it? | * Are there any (technical) explanations/demonstrations of your product available so we could get a better understanding of it? | ||
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* Can you sketch the growth curve during the different product interaction stages? | * Can you sketch the growth curve during the different product interaction stages? | ||
* Are there similar products on the market? | |||
==== Market ==== | ==== Market ==== | ||
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* 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/strategy? | ||
* What are you expansion plans beyond that? Which verticals are you going to tackle next? When will you tackle those verticals? | |||
* 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? | ||
* How do you market your product? How high are your Costumer acquisition costs and costumer lifetime value? | * How do you market your product? How high are your Costumer acquisition costs and costumer lifetime value? | ||
==== Clients ==== | ==== Clients & Partners ==== | ||
* How much revenue are you targeting per client? | * How much revenue are you targeting per client? | ||
* How many potentially clients did you already had talks with it? | * How many potentially clients/partners did you already had talks with it? | ||
* How difficult is it to identify and start conversations with potential clients? | * How difficult is it to identify and start conversations with potential clients/partners? How difficult is it to convert? What are your conversion rations? How far progressed are contract discussions? | ||
* Do you currently have clients signed? If yes which ones? | * Do you currently have clients signed? If yes which ones? | ||
* Which business partners does your business model depend upon? | * Which business partners does your business model depend upon? | ||
* How many different partners do you need in order for your business to succeed? | * How many different partners do you need in order for your business 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 large is the pool of potential partners you can work with? Which % of them do you need to sign in order to succeed? | ||
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* Do you have a built out roadmap? How did you construct that roadmap? How do you decide what to focus on? Are you willing to share that roadmap? | * Do you have a built out roadmap? How did you construct that roadmap? How do you decide what to focus on? Are you willing to share that roadmap? | ||
* Do you have concrete plans to pivot if plan A is failing? | * Do you have concrete plans to pivot if plan A is failing? | ||
* How far did you plan ahead? | |||
==== Exit ==== | ==== Exit ==== | ||