Customer Validation, Phase Four: The Toughest Question of All: Pivot or Proceed?

Customer Validation, Phase Four: The Toughest Question of All: Pivot or Proceed?
Pivot or Proceed: Assemble Data Findings
Review the Data
Checklist 41: Assemble Data
Pivot or Proceed: Validate Your Business Model
The Business Model Canvas as a Scorecard
Checklist 42: Validate Business Model
Pivot or Proceed: Validate the Financial Model
Metrics that Matter
A Few Words about Burn Rate
Three things to consider before you dive into Metrics That Matter:
Metrics that Matter Scenarios
Metrics that Matter: Example 1
What Metrics Matter?
If These Were Your Numbers, What's a Founder to Do?
Metrics that Matter: Example 2
Metrics that Matter/Add It All Up
If These Were Your Numbers, What's a founder to do?
Some Final Thoughts About the Financial Model
When to Bring in the Accountants
Adding it all up
Checklist 43: Validate Financial Model
Pivot or Proceed: Re-Validate the Business Model
Best Bets
Make Sure the Value Proposition is Right
Make Sure the Product Delivery is Right
Make Sure the Revenue is High and Costs are Low
Make Sure Your Business Model is Right
Checklist 44: Re-Validate The Business Model
The Toughest Startup Question: Pivot or Proceed?
What's Next?
Checklist 45: Pivot or Proceed?
How To Build a Web Startup – The Lean LaunchPad Edition
Step 1: Set Up Team Logistics
Step 2. Craft Your Company Hypotheses
Step 3: Write a Unique Selling Proposition statement that other people understand
Step 4: Website Logistics
For coders: set up a web host
Step 5: Build a Low Fidelity Web Site
For non-coders:
For coders: build the User Interface
Step 6: Customer Engagement (drive traffic to your preliminary website)
Step 7: Build a more complete solution (Connect the User Interface to code)
Step 8: Test the “Customer Problem” by collecting Customer Data
Step 9: Test the “Customer Solution” by building a full featured High Fidelity version of your website
Step 10: Ask for money
For all Steps:
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