How to prepare yourself to launch your first startup.

1. ROUTE TO LAUNCH
From a dream to revenue  Entrepreneurship path

2. Understanding
the industry
Exploring the
need
Hypothesis to
Idea
Brainstorming
and Critique
Business Model
Overhauling
self
Set things in
place
Checklist
Prototype
Soft launch
Feedback
LAUNCH

3. UNDERSTANDING THE INDUSTRY
1. No alternate to the experience in the same industry
2. If no experience then research and understand by
i. Sector focused websites
ii. Research journals
iii. Online forums
iv. Trade publications
v. Conferences on the sector news
3. Observation and intuitions followed by research (point#2)

4. EXPLORING THE NEED
1. Create the need
2. Explore the need through:
i. Meeting Consumers, customers, sellers and manufacturers
ii. Talk, ask and understand
iii. Engage and settle
iv. Reach the bottom, Pick up an idea.
3. Develop a hypothesis

5. HYPOTHESIS TO IDEA
[DREAM (THINK AND RELAX)]
1. Take a break, relax and think
2. Work out the possible ways to solve the problem
3. Use white board to plot your thoughts
4. Personalize with the problem as a customer and empathize
5. Test hypothesis by talking
6. Now develop 2-3 more ideas around the same issue.

6. BRAINSTORM
[WAKE UP AND START TALKING]
1. Focus on the idea
2. Brainstorm by
i. Select participants to discuss the ideas
ii. List out your findings, problem and possible solutions with the participants
iii. Present the problem and idea to the group and let them talk on solution
iv. Talk on ‘How this idea will fail’, don’t talk any new method/solution here
v. Finally talk the alternate ways to solve the problem
3. Repeat the same brainstorming session with other 2-3 ideas worked in point 3(f)
4. Record the session and take detailed notes of the discussion
5. Share with critiques, they can improve it, may use Quora or other platform.

7. BUSINESS MODEL - THE SOLUTION
1. Work out product/service, define it well
2. Prepare a business model
3. Prepare cost and budget
4. Prepare cash/work flow charts
5. Prepare pitch deck
6. Vet the model with experts and find a mentor from the industry and discuss

8. OVERHAUL YOURSELF
1. Set priorities
2. Take partners/co-owners
3. Polish yourself and co-owner for
i. Charisma
ii. Creativity
iii. Handling criticism
iv. Handling failure
v. High energy
vi. Stress management and
vii. Tenacity
4. Get family and friends aligned-you are going on a long and tiresome journey
5. Keep open mind set

9. SET THINGS IN PLACE
1. Build a core team
2. Divide responsibilities
3. Set common goal
4. Get Checklist to be ready with
i. Budget for a year for family and business
ii. Work out dates and timelines
iii. Insurance, loans and funding
iv. Understand books and accounting
v. Understand taxes and compliances

10. START PROTOTYPE AND SET SOFT
LAUNCH
1. Soft launch
i. Space
ii. Incorporation
iii. Licenses
iv. Resources
v. Contingencies
vi. Events and activities
vii. Find the first customer
2. Post soft launch
i. Feedback
ii. Alterations
iii. Financial management and funding

11. FINAL LAUNCH