Questions

Hi, Currently am currently working on my startup idea, with in 2-3 months am about to release my product in the market, I want to make sure whether am going in the right direction or not? I want to audit my startup idea regarding technically, business model, revenue model, marketing strategy etc.....

I hope you have validated your startup idea with your target market (and not just friends and family). If you have spent the time validating, you should have a pretty good idea that this is a great startup idea. What type of validation have you done on your startup idea? Did you know that 9 out of 10 product ideas fail and the number one reason is the wrong product was built? Validation is the key to success. I hope that if you are a few months away that you have done a lot of validation and pivoted as needed to make sure you are building a solution that truly fixed a pain point so you know you are building the "right product".

What type of pre-launch marketing activities have you been doing? Hopefully you have been growing your market along the way so you already have folks waiting for the launch. If not it's better late than never.

When looking at the financial model I like to identify at the risky assumptions in the model and assign a pessimistic value, most likely value and an optimistic value. This will give you an idea of the revenue range and the impact each risky assumption has on the outcome.


Answered 8 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2024 Startups.com LLC. All rights reserved.