Do you (really) want to start a company?
What do you expect your company to look like in 5 years?
($1 million, $10 million, or $100 million in sales? How many employees?)
What do you personally want to be doing in 5 years? 3 years? 2 years? Next year?
(CEO, CTO, sales, product development, advisor to the company, etc.)
Are you prepared to quit your current job and work at the new company full-time?
Do want to be rich, famous, both, or neither?
At work, what makes you happy? Excited? Eager to start a new day?
Do I start this company alone, or seek a co-founder?
Do I seek a mentor, set of advisors, incubator and/or accelerator?
Are you passionate about your idea?
What problem are you solving?
Who are the people whose problem you are solving?
Are you solving an important problem?
Will your solution create more problems than it solves?
Can you describe the problem, customer, and solution in 10 minutes or less? Without a single word of jargon?
Who is the person responsible for buying your product?
What is the minimal set of features required to get the first few customers to buy your product?
Are you ready to launch your minimal viable product (MVP)? If not, when?
How many customers need your product?
How many copies of your product will each customer buy?
How many customers can each of your sales people close?
How long does each of those sales take?
At scale, how many customers do you expect will buy your product per year?
High-price/high-service, small number of sales, or
Low-price/low-service, large number of sales?
What is the selling price of your minimal viable product?
What is your target price of your beyond-minimal product?
How big is this opportunity?
After reviewing the opportunity size, do you need to revisit the market sizing or pricing, or look for additional customers, or go all the way back and to the beginning and change the product?
Is the opportunity worth the effort?
What other companies are solving the same problem?
How does your product compare to the competition? How does it compare feature by feature?
How does the price of your product compare to the competition? Which pricing model are they using (high-price/high-service or low-price/low-service)?
What is unique about your solution?
What is your long term, sustainable, competitive advantage?
How many people do you need in your company?
What is each person responsible for?
Who will develop your product? Who will do the marketing? Who will do the sales? Who will run the company?
Which roles will you fill, and which will you hire?
How will your customers know your company exists? How will they know the benefits of your product?
What do you call this company?
What is your sales process?
What are you going to do to keep your customers happy, once you have customers?
Can this be a profitable venture?
When will this company be profitable?
How much capital is needed to start your company?
What are the risks of failure? What might go wrong? Which of your assumptions might be wrong?
Do you own your idea? Can you legally start your company?
Should you bootstrap your company or seek outside investors: friends and family, grants, incubators, Angels, or Venture Capital?
Is your product sellable today?
How often will you update the product?
What did you learn today?
What are you measuring?