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The Start-up Process:

A Three Stage Project

By definition a start-up is a project. A start-up is unique and temporary. It has a starting-point and an ending-point.  If it is successful, it adds value - a new business. Thus, it is appropriate to utilize project management tools and techniques to initiate, manage, and complete the start-up process. Ready, Set, Start-up is a guide that will assist entrepreneurs in their quest to turn a great idea into a successful business.

Project - Stage One

Your idea  >  Validate the idea   >   Justify becoming a start-up

a. You have a great idea. I will argue it is not a start-up; it is an idea. The idea is the marriage of a product or service with a target market.

b. To become a start-up requires that the idea be validated through a rigorous process.

c. Then be able to generate a Justification Statement that is absolutely persuasive the idea should be pursued.

d. The founder group can explore validation while boot-strapping and, if convenient, during their spare time.

Project - Stage Two

Generate a start-up plan   >  Execute the plan

a. Armed with your Justification Statement, and aglow with confidence, generate a comprehensive start-up plan to guide you forward. This is not a business plan. I will further argue, based on experience, it is not typically possible to create a credible business plan until you have a business.

b. The start-up plan builds the bridge between the idea components: the product or service and the market.

c. Execute your start-up plan using systems and project management principles and tools.

d. As you cross the bridge you will have insights and gain knowledge that will inform your future business plan.

e. The Justification Statement will attract seed capital to fund this stage of the process.

Project - Stage Three

Write a business plan  >  Go to market

a. With careful attention to the start-up plan, including pivots and adaptations, your market will come into sight.

b. Typically, further development will require additional funding. Happily, you will, due to earlier investigation and learning, be able to write a credible business plan that will attract venture capital to your project.

c. The transition from the start-up plan to the business plan will be a straight-forward completion of the start-up process; and you will be in business.

Ready, Set, Start-up - Be your own entrepreneur

Learn how to put the start-up process to work for you.

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