The spark to start a new company
if
an idea for a technology/product/service company existsand frustration is greater than reward in current job pain
and greed is greater than fear of start-up's failure pain
and financial and emotional support for start-up exist then begin
I. Concept stage:
exit (job); find (team);
get (spreadsheet tools) ; write (plan) ; find (investors);
if
plan has low risk thengo to product development stage;
II. Seed stage:
exchange (stock in company for cash from friends and venture
capitalists);
recruit (superstar start-up team);
while company is on plan and money is in bank do
begin verify (technology, product, market, business);
refine (plan);
if seed stage is done and plan is still good then
go to product development stage;
end;
the following occurs if out of money or the plan is missed
if
company is still viable and investors are willing thencontinue seed stage else
sell (company) or close (company);
III. Product development stage:
exchange (stock in company for cash from investors);
recruit (superstar development team);
get (space, development tools, software licenses) ;
while company is on plan and money is in bank do
begin sell (product idea) ; specify (product);
develop (product) ; a market-driven product
build (first product prototypes) ; via manufacturing
test (product, internally) ; alpha testing
manufacture (first products) ; manufacturing begins
test (product, externally) ; beta testing
announce (product);
go to market development stage;
end;
if company is still viable and investors are willing then ____
continue product development stage else
sell (company) or close (company);
(continued)