From: Toccoa, GA, USA
I stumbled upon this video the other day. I think it was very informative and would recommend a watch. Below are the notes I gleaned from it. Just thought I would share.
General (Big) Business Goals:
Venture Capitalist expectations:
20 questions for Startup Success
2. How does it solve that problem.
3. Who are the end users of the product?
4. Who is your revenue-supplying customer? (Paying customers)
Are there enough of these paying customers to make a huge business?
5. Does the product solve a problem that end-users/revenue supplying customers actually have?
3D malls.. why do people want to walk to the other end virtually when you can click an 'teleport'
6. Are you sure it is a product and not just a "feature"?
(fictional) italics.com - trying to sell a "product" that italicizes text.
7. Does you stuff fit into the way that people work (or live)?
Inertia is a big force.
8. Are you too involved in HOW you are building than what you are building?
Technology techniques should not overtake goals of the project/company business. Base it on end user needs.
9. Who are the potential partners?
Who are the required partners?
are they achievable/acquirable?
10. What is the go-to-market strategy?
11. What is your *sustainable* competitive advantage?
Do you have it? Can you keep it?
12. Do you have a time-to-market/first mover advantage?
13. Can I be number one or number 2 in this space?
14. Is there a team formed with a record of successful ventures?
15. Is there a 'soul' of the team that knows where this product AND where the business is going for the next few years?
16. Is anyone on the team insane?
17. Are there product/tech/operations barriers to success?
18. Are there marketing/sales barriers to success?
19. Are there legal barriers?
20. Is there an exit strategy?
[This message has been edited by samw3 (edited March 09, 2007).]
From: Stony Plain, Alberta, Canada
Thanks for passing on the link, and especially for taking the time to share your notes! This is great stuff, and I really appreciate you passing on this great info.