Page 213 - 6 Secrets to Startup Success

192 6 SECRETS TO STARTUP SUCCESS

As you review the list of questions, take into account the follow-
ing considerations:

9 Answering these questions may require a good deal of your
time and energy. Many tools for entrepreneurs have been re-
duced to “fast food” style checklists, but, when it comes to
the fundamentals of startup success, there are no shortcuts.
The goal is not to perfect or over-analyze your idea, but to
systematically improve your likelihood of success by antici-
pating and addressing the domains known to impact success.

9 Each founder, and each venture, is unique. Some of the ques-
tions will prove more relevant to your particular business and
situation than others. Start with a quick review of all ques-
tions, flagging those that seem most timely and important
based on your phase and situation. Then work through the
questions you have flagged as most valuable, while being
careful not to avoid questions simply because they are tough
to answer, or make you uncomfortable.

9 Some questions will require more data or more reflection, or
may be unanswerable at your current phase. Work to gain
clarity on these questions over time, and use this framework
as a tool to continually reassess your venture’s strengths and
weaknesses as time passes.

9 There are five sets of questions. The first is a set of orienting
questions. The next four correspond to the four-quadrant
framework for new venture success introduced in Chapter Six
(founder, market, math, and execution), as seen in Figure A-1.

American Management Association • www.amanet.org