Startup Vision Definition

SmarterStartup.org  

Mark Twain Author

VISION DEFINITION

Startup Vision Definition

I didn't have time to write a short

letter, so I wrote a long one instead.

A concise statement about a complex topic requires an investment of time and the clarity of thought. That critical analysis can reveal weaknesses in a plan, before you

begin developing it. Its time to do this for your new startup.

Provide a concise answer to

each question on the worksheet.

Keep them as short as possible.

Then compose a 3-4 sentence

elevator pitch that includes as

many of the key answers as

possible. Then you’ll be ready to

talk to prospects!

Defining a Startup Vision

VISION DEFINITION

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1. Phone sales & webinars2. Conferences

Real Estate IDX WordPress Themes May 9

Customer

Start with a concise description of the customer segment and how you’ll

reach them (channels).

Successful Real Estate agents, earning $100k / year

1. Phone sales & webinars2. Conferences

Real Estate IDX WordPress Themes May 9

IDX System to capture & nurture online leads

1. Own don't Rent (your website)2. Beautiful original design

Value Creation

Clarify the value you are creating for that customer.

(Value = benefit-cost)

Successful Real Estate agents, earning $100k / year

1. Phone sales & webinars2. Conferences

Marketing Automation CRM

Software Product

Real Estate IDX WordPress Themes May 9

IDX System to capture & nurture online leads

1. Own don't Rent (your website)2. Beautiful original design

Product

What is the manifest solution you’re proposing that will convey new value

to your customer?

Successful Real Estate agents, earning $100k / year

1. Phone sales & webinars2. Conferences

Marketing Automation CRM

Software Product

WordPress Theme *Product*(not SaaS) for the DIY agent

Tech disruption. First mover (the Spark API for IDX)

Real Estate IDX WordPress Themes May 9

IDX System to capture & nurture online leads

1. Own don't Rent (your website)2. Beautiful original design

Competition

What’s your competitive position that will enable you to provide a

better or more authentic solution?

Successful Real Estate agents, earning $100k / year

1. Phone sales & webinars2. Conferences

Marketing Automation CRM

Software Product

WordPress Theme *Product*(not SaaS) for the DIY agent

Tech disruption. First mover (the Spark API for IDX)

1. Me (product/tech)2. John (BizDev/Sales)

1. Spark Platorm API2. Access to all MLS IDX Feeds

Real Estate IDX WordPress Themes May 9

IDX System to capture & nurture online leads

1. Own don't Rent (your website)2. Beautiful original design

Team

What are your teams credentials? What’s the reason you’ll prevail over

competition in offering a compelling solution?

Successful Real Estate agents, earning $100k / year

1. Phone sales & webinars2. Conferences

Marketing Automation CRM

Software Product

WordPress Theme *Product*(not SaaS) for the DIY agent

Tech disruption. First mover (the Spark API for IDX)

1. Me (product/tech)2. John (BizDev/Sales)

1. Spark Platorm API2. Access to all MLS IDX Feeds

$50,000 to build core product

$50,000 line of credit

Real Estate IDX WordPress Themes May 9

IDX System to capture & nurture online leads

1. Own don't Rent (your website)2. Beautiful original designFinance

What is the financial cost of developing the proposed solution? Consider the

cost against potential gains.

Successful Real Estate agents, earning $100k / year

1. Phone sales & webinars2. Conferences

Marketing Automation CRM

Software Product

WordPress Theme *Product*(not SaaS) for the DIY agent

Tech disruption. First mover (the Spark API for IDX)

1. Me (product/tech)2. John (BizDev/Sales)

1. Spark Platorm API2. Access to all MLS IDX Feeds

$50,000 to build core product

$50,000 line of credit

IDX Website/CRM software for serious RE agents to capture & nurture online leads and grow their business. Built on Wordpress so they can"own the system, not rent". First-mover advantage by integratingthe Spark IDX API which makes it possible.

Real Estate IDX WordPress Themes May 9

IDX System to capture & nurture online leads

1. Own don't Rent (your website)2. Beautiful original designElevator Pitch

Finally, develop a 3-4 sentence description of your proposed startup that concisely articulates the important points you’ve developed

earlier on this worksheet. This is the 30 second pitch you can use to talk to investors and client prospects about your new startup.

Validate Your Hypothesis

HYPOTHESIS VALIDATION

Test Early, Test Often

PROSPECT INTERVIEWS Do They Like the Idea? Feedback?

TEST MARKETING Do ‘Vaporware’ Campaigns Convert?

MINIMAL VIABLE PRODUCT Users Engaging & Using Product?

With a well-articulated vision

ready, you can begin sharing the

concept with investors and customer

prospects. If the idea is well received,

advance to vapor-ware test campaigns

and finally to building the “MVP”.

The Lean “build, learn, measure”

feedback look is fantastic method for

Eliciting user feedback early and often

in the process and can help minimize

inefficiencies if done right.

Lean Feedback Loop

Measure

Learn

Build

Ideas

ProductData

HYPOTHESIS VALIDATION

LEAN METHODOLOGY

FINDING PRODUCT-MARKET FIT

THE SMARTER STARTUP

STRATEGY FOR STARTUPS

The Smarter Startup looks at why some

startups succeed while others fail. By taking a

more strategic approach to entrepreneurship,

founders can improve their own outcomes.

Written by Neal Cabage and Sonya Zhang,

PhD, and published by Pearsons/NewRiders.

SMARTER STARTUP

The Book

SMARTER STARTUP

SmarterStartup.org

The framework, including the part

described here, are posted on the

website, along with downloadable

worksheets and reference material.

Everything is free to use, so enjoy!.

www.SmarterStartup.org