TASK: Answer the below questions outlining the next steps and plan for your startup idea. Identify what your early roadblocks are and how we can plan to overcome them.
OBJECTIVE: This is a rough business plan/next steps questionnaire so that you leave Tacklebox with a plan. A lot of these metrics and timelines will likely change but the goal is talk it through and keep the momentum going. No question is a silly one, add as much detail as you can and we will give you relevant feedback and resources to move forward. This plan needs to make sense to you.
1. Considering your customer acquisition, product development and beyond - what do you see as your 3, 6 and 12 month outlook?
How many customers would you need to have at each of these milestones? When would you like to have the product in development? When would be the goal launch date? What do you need to get done in the next 3 months to get your idea off the ground?
Think ambitiously but add a buffer of a few months on funding + product development.
2. To make the above happen, what are your next steps?
Exactly what needs to be done for you to further validate (reduce product assumptions), actually create your product and prepare to launch?
3. What’s your general business model? i.e. pricing, acquisition cost
Have you validated the pricing model yet? i.e. CIT Testing with pricing. What price are you planning on charging? Can you estimate your customer lifetime value (how frequently will your customer make this purchase and for how long)? Does your acquisition cost during Tacklebox line up with this?
4. Is an Accelerator right for me?
If an Accelerator makes sense, let us know - we can help you navigate the application process and make some connections. We’ve had Tacklebox alumni attend Y Combinator, TechStars, NY Fashion Tech Labs and Quake. For some founders an Accelerator makes a lot of sense but it’s definitely not the only way.
5. Is Fundraising right for me?
6. How do you plan on getting your first 1000 customers?
Based on the channels you’ve tested in Tacklebox, how will you acquire your first customers? Have you been able to uncover an effective and eventually scalable channel or do you need more CIT testing?
7. How will you ensure these customers are relevant to your SOM?
How are you ensuring that your first 1000 customers are with unifying characteristics? i.e. 1000 people who love you versus 1000 people who have heard of you.
8. What’s stopping you from moving forward aggressively now?
9. What can we help you with?
Let us know what connections we can make, any concepts that you’re confused about, etc.