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Route to launch.pptx

  1. ROUTE TO LAUNCH From a dream to revenue  Entrepreneurship path
  2. Understanding the industry Exploring the need Hypothesis to Idea Brainstorming and Critique Business Model Overhauling self Set things in place Checklist Prototype Soft launch Feedback LAUNCH
  3. UNDERSTANDING THE INDUSTRY 1. No alternate to the experience in the same industry 2. If no experience then research and understand by i. Sector focused websites ii. Research journals iii. Online forums iv. Trade publications v. Conferences on the sector news 3. Observation and intuitions followed by research (point#2)
  4. EXPLORING THE NEED 1. Create the need 2. Explore the need through: i. Meeting Consumers, customers, sellers and manufacturers ii. Talk, ask and understand iii. Engage and settle iv. Reach the bottom, Pick up an idea. 3. Develop a hypothesis
  5. HYPOTHESIS TO IDEA [DREAM (THINK AND RELAX)] 1. Take a break, relax and think 2. Work out the possible ways to solve the problem 3. Use white board to plot your thoughts 4. Personalize with the problem as a customer and empathize 5. Test hypothesis by talking 6. Now develop 2-3 more ideas around the same issue.
  6. BRAINSTORM [WAKE UP AND START TALKING] 1. Focus on the idea 2. Brainstorm by i. Select participants to discuss the ideas ii. List out your findings, problem and possible solutions with the participants iii. Present the problem and idea to the group and let them talk on solution iv. Talk on ‘How this idea will fail’, don’t talk any new method/solution here v. Finally talk the alternate ways to solve the problem 3. Repeat the same brainstorming session with other 2-3 ideas worked in point 3(f) 4. Record the session and take detailed notes of the discussion 5. Share with critiques, they can improve it, may use Quora or other platform.
  7. BUSINESS MODEL - THE SOLUTION 1. Work out product/service, define it well 2. Prepare a business model 3. Prepare cost and budget 4. Prepare cash/work flow charts 5. Prepare pitch deck 6. Vet the model with experts and find a mentor from the industry and discuss
  8. OVERHAUL YOURSELF 1. Set priorities 2. Take partners/co-owners 3. Polish yourself and co-owner for i. Charisma ii. Creativity iii. Handling criticism iv. Handling failure v. High energy vi. Stress management and vii. Tenacity 4. Get family and friends aligned-you are going on a long and tiresome journey 5. Keep open mind set
  9. SET THINGS IN PLACE 1. Build a core team 2. Divide responsibilities 3. Set common goal 4. Get Checklist to be ready with i. Budget for a year for family and business ii. Work out dates and timelines iii. Insurance, loans and funding iv. Understand books and accounting v. Understand taxes and compliances
  10. START PROTOTYPE AND SET SOFT LAUNCH 1. Soft launch i. Space ii. Incorporation iii. Licenses iv. Resources v. Contingencies vi. Events and activities vii. Find the first customer 2. Post soft launch i. Feedback ii. Alterations iii. Financial management and funding