Idea / Formation Stage

Formation ICON This stage starts with one or more ideas and may end with a team formed around a working consensus on how to evaluate the technical and market feasibility of the idea(s). Technology oriented teams tend to focus on technology feasibility issues, but the real challenge is how many people would pay how much if you had the product working. Another large part of this stage is developing a team. This stage should be devoted to understanding the roles (“hats”) needed and assembling a team to fill them.
Key Issues for Founders

  • How to get started?
  • How do I find partners?
  • How do I attract a team?

Ready for Next Stage:

  • Have a defined product
  • Ready to test the market theory
  • Ready to prototype
    • Product Development
    • Customer Development
  • Have a business ownership structure
Checklist

 

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