Startup Checklist
Do you have a problem worth solving?
The hardest thing about getting started is gaining Credit by proving Credibility. When enough trade is onchain this will be pre-validated, ironically bridging this trust is the biggest problem the crypto movement currently faces. Building a value engine on Crypto Rails. The importance of Crypto goes far beyond it's value as Digital Money. The best advertising is word of mouth from you someone you trust, the best teacher (salesperson) is from someone you trust that has just navigated the challenge.
Who better to invest in your ideas than the community that knows you well and will use your products or services? Crypto can provide the incentives and rails to facilitate this, and that is why crypto really matters.
Evolution
The cycle of progress.
Best Practices for Creating Checklists
Education
Raise your awareness.
- Personal Improvement
- Business Improvement
Ideation
What are the best practices for dreaming up innovative ideas that fuel growth?
- What problems can you do something about?
- What problems do you really care about?
- What is the potential of solving them?
- Technology vs Industry
- Who has money to spend?
- What gives them a sense of fulfilment?
- What are they lacking?
- How can you provide that?
Assess
- Smallest outcome that would deem your project a success in three years?
- Predictions are easier to dream up
- Enough time for Product Market Fit
- Represents a significant bet on your future
Validation
Verify the value proposition of your expected outcomes by "walking the pipe" with domain experts you can trust.
- Fast insights Discovery
- Build things customers/market need (Test before build)
- Have the right business model to sustain and grow. Product-market-fit
- Use networks to speed up acquiring customers and revenue generation
- Innovation and user experience embedded the entire time
Product Expectations
- Gather JTBD stories to understand motivating forces
- why they are using the solution
- why the solution exists
- what features are invaluable
- what features are missing
- What are customers willing to pay for?
Market Analysis
| IDEAL CUSTOMER | STATE |
|---|---|
| Problem that can be solved | |
| How equipped are they to solve this problem | |
| Is solving this opportunity beneficial to long term growth | |
| Establishing evaluation criteria |
Market Sizing
| VALUE | STATE |
|---|---|
| Total addressable market | |
| Consumer behavior | |
| What does 1% market share look like |
Implementation
Engage with customers to understand their expectations for success.
- Identify core problem/opportunity and their level of commitment to a solution
- Evaluate commercial benefit to both customer business and this business
- Scope out range of opportunities and capabilities the business needs
Product Delivery
- Differentiation: Focus on Point of Difference you can deliver
- Scalability: Platform, Protocols and Onboarding Culture.
- Integration: Augment existing tools and processes in your target industry.
- Performance: Regularly benchmark against competitors.
- Cost Management: Eliminate wasteful processes to optimize expenses.
Challenges
- Conducting a thorough market analysis.
- Securing the necessary funding or capital to start the business.
- Dealing with the uncertainty and risk that comes with starting a new venture.
- Registering the business and understanding the legal requirements and regulations.
- Setting up initial operations, which can include finding a location, purchasing equipment, or setting up a website.
Business Records Scorecard.
Build Your Team
Who do you need onboard to tackle problems in meeting strategic objectives?
| CORE JTBD | PROBLEM OWNER |
|---|---|
| Innovation Lead | Futarchy |
| Platform Engineering | |
| Product Delivery | |
| Customer Acquisition | |
| Internal Operations |
Build a team of masterminds that have you can trust and rely upon. When you have a solid platform, success flows from there.
Respect, Honesty, Integrity, Humility
Scorecard
Maintain System of Record and Single Source of Truth.
| RECORD - ASSET | TYPE | JTBD |
|---|---|---|
| Business Model Canvas | Diagram | |
| Business Plan | Document | |
| Product Roadmap | Diagrams & Checklists | |
| Customer Acquisition | Document | |
| Business Playbook | Document | |
| Risk Mitigation | Checklist | |
| Legal Documents | Document | |
| Pitch Deck | Presentation | Sell the story that drives progress |
| Financial Model | Financial Model | |
| Teamwork Index | Model | |
| Decision Log | Document | Historical reference of thought process behind key decisions |
Keep score of quality of the Business Records you need to complete to understand how well your organisation can connected dots and closed gaps. Starting a business requires on Credit and Credibility to get the snowball rolling