Mandatory reading for startups

If you’re either a “startup enthusiast” who hasn’t taken the plunge into the entrepreneurial waters yet, or are a first timer who’s just started up with a super cool idea and unlimited passion, below is a list of mandatory posts you should read to know what you’re going to get into. These will help shape your thinking on the dos and don’ts which either make or break a startup. Please read and re-read until you fully grasp the essence –  

Also once you’re done with the reading bit, try answering the below questions in the context of your startup. While answering them make sure  (a) you don’t use any hyperbole, (b) be as clear and concise of possible and (c) each sentence should take the reader forward towards the understanding your idea. Each answer cannot be more than 120 words.
  1. What is your company going to make?
  2. Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you’re making?
  3. What’s new about what you’re making? What substitutes do people resort to because it doesn’t exist yet (or they don’t know about it)?
  4. Who are your competitors, and who might become competitors? Who do you fear most?
  5. What do you understand about your business that other companies in it just don’t get?
  6. How do or will you make money? How much could you make? (We realize you can’t know precisely, but give your best estimate.)
  7. If you’re launched, what is your monthly growth rate (in users or revenue or both)?
  8. How will you get users? If your idea is the type that faces a chicken-and-egg problem in the sense that it won’t be attractive to users till it has a lot of users (e.g. a marketplace, a dating site, an ad network), how will you overcome that?
  9. How far along are you? Do you have an MVP yet? If not, when will you? Are you launched? If so, how many users do you have? Do you have revenue? If so, how much? If you’re launched, what is your monthly growth rate (in users or revenue or both)?

I’ll be happy to review your answers to the above questions and tell you how you fared. I’m reachable on – helloanand at gmail. Shoot across your answers within in the body of the email itself (no docs and pdfs please).

Bonus reading (thanks to Annkur, Pravin and Kulin) –

So read up plenty and prepare for the journey ahead.

 

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Author: anand

Currently CleverTap. Founder & ex-CTO - burrp. A techie and an entrepreneur at heart. Have worked in US, China and India.

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