I found this infographic on the Internet about starting a new venture and it cough my attention. While, not all the listed steps are “scientifically correct”, the raw framework of founding a startup still makes a lot of sense.
- live in the future, ahead of your time
- what is missing in the world?
- write it down and bounce ideas around
- make a prototype
- show the prototype to 100 people
- iterate on the prototype until it makes sense
- find a co-founder
- register your C-corp, split equity
- look for funding and build version one at the same time
- launch – let everyone know you have made something
- follow up with users. Are they coming back?
[A] yes, they are coming back:
- [12a] get to 1000 users
- [13a] grow 5% a week (hard, but proven possible)
- [14a] keep growing for another 4 years, and at that rate you will reach 25 million users
- [15a] SUCCESS!
[B] no, they came and left:
- [12b] launch again (after iterating). Launch until users stay (AirBnB launched 3 times)
- [13b] go to no. 11
If you enjoyed reading this short article, then you may also find interested these two articles on the same topic of startups: “Why People Become Entrepreneurs” and “Free Business Bank Account in Germany“.