1. The Ten Questions
An Adaptation from The 24 Steps to Entrepreneurial Success
Prepared by: Max Lee

2. Who Are You?
• Are you the entrepreneur we are looking for?
• What makes you special? (e.g. vision, mantra)
• Why should we back you (or your team) instead of another with a similar
idea?

3. What is the Idea?
• What problem are you trying to solve? (market research)
• Why is that problem important? (market validation test needed)
• What are the concepts behind your solution? (cost-benefit analysis)
• Have you checked the necessary due diligence and compliance(s) needed?

4. What is the Product?
• What does it look like and how does it work?
• Do you have the prototype already? E.g. prototype on paper (POP), simulation
• Why is this product feature matter?
• Will your product become obsolete too quickly?

5. Who Cares?
• What is the profile of a typical user of your product/service? Identify 10 potential customers.
• What is the size of your total addressable market (TAM)? How did you determine this?
• What is your target market?
• Have you validated your idea/product/service with the end users?
• Are your user the buyer as well?

6. Who is Your Competitors?
• What companies were already in the market or about to move into it?
• How do you anticipate for the competition? (e.g. strategic partners)
• What advantage do you have over your competitors?
• Why launch now?

7. How to Reach Your Users?
• How will you distribute/sell it?
• What are your business models and pricing frameworks? (e.g. B2B, B2C,
B2G, C2C, social enterprise, ad, licensing, merger & acquisition)
• Who will be your targeted strategic partners? Why?

8. What are Keys to Success and Risks?
• What do you have that will make you successful?
• What are the biggest risks with your product? How will you mitigate them?

9. What are Your Key Milestones?
• What must you have accomplished? By when?
• Is there any better sequence of things to accomplish?

10. How Much You Need?
• How much money do you think you will need to raise over time?
• Where to seek for money?
• What is the total cost (of production/development)?
• What is the Return on Investment (ROI)?
• What is the exit plan for investor?

11. What are You Missing?
• What will you need to get to make sure you are successful?
• What are the assumptions you have made?