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startup board of advisor

9+1 STEPS TO GET FROM IDEA TO SUCCESS

March 27, 2018

 

I frequently speak with entrepreneurs who believe that their idea, or expansion, will be the next Ring or Uber. They are ready to start writing their business plan, seek funding and find their development team. Their passion is palatable which  is why I do what I do, but finding out if the idea is, as Lori Grainer of Shark Tank fame, says “ a hero or a zero” at this stage, would save a lot of time and money.

If you have an idea or want to add a new product to your existing business, I recommend completing these 9+1 steps. The 9 steps are part of a Lean Canvas created by Lean Stack. Lean Canvas  (see sample below) is a one page planning tool that will help you define your venture’s key metrics (customer segments, problem vs solution etc) that, when completed, will  either be the foundation of a solid business or a clear indication to try again.

The +1 step at the end is my addition and will be the most important step of all.

9 STEPS TO SEE IF YOUR IDEA CAN BECOME A BUSINESS:

The Lean Canvas is a living document and it will continue to morph over time. It might be interesting to print each version and hang them up; the evolution will be fascinating.

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Filed Under: Uncategorized Tagged With: business plan, startup board of advisor, startups

5 STEPS TO BUILDING YOUR STARTUP BOARD OF ADVISERS

February 15, 2018

 To quote Confucius, “True wisdom is knowing what you don’t know”. Taking that napkin idea and turning it into a successful venture, requires multiple disciplines, especially in this highly technical and challenging social media landscapes. The most successful entrepreneurs know what they know and surround themselves with people who know what they don’t know.  Building your Startup Board of Advisers allows you to draw on your expertise and tap into the skills of others.

 

Think of a Board of Advisers as an ATM of experience and ideas.

Does it really matter? One startup failed because they didn’t know how to deal with a surge in sales that bankrupted them. Their trajectory was so fast they didn’t have the time or the experience to deal the resulting crisis. Their story might have had a different ending had they been able to tap into a team of advisers who had traveled this road before.

I can hear the objections: “I don’t have the time”, “they will steal my idea” and “I don’t have these connections”. Make the time, they won’t and you do. Time is irrelevant when starting a new venture; you will never have enough but will find a way to get everything done. Don’t be afraid of telling your story to the right people. Even if they turn your invitation down, you are on their radar and these connections often pay off in the long run.  And your network is larger than you realize. Start by looking at your LinkedIn network and than your networks network. People are flattered when they are asked for their expertise and those who have reached a level of success are all too happy to ‘pay it forward’.

I’ve outlines 5 steps that will guide you in building your Board*

 THE 5 STEPS IN BUILDING A BOARD OF ADVISERS..

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Filed Under: Uncategorized Tagged With: startup board of advisor, startups

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