Entrepreneurship is all about discovering, collecting and producing evidence to stakeholders like your team members, advisors, customers, partners and most importantly to potential investors! Evidence based self assessment of the venture is factual and needs to be collated upfront to help entrepreneurs ascertain all aspect of their venture even before they start!
The ‘TEN EVIDENCES’ that can create a 'COMPELLING CASE' for 'STAKEHOLDERS' to acknowledge and appreciate are:
- Evidence that there is ‘A REAL PROBLEM’ that needs urgent solutio.
- Evidence that a ‘LARGE NUMBER OF PEOPLE’ are suffering from the problem identified.
- Evidence that people suffering from the problem are ‘DISSATISFIED’ with the current solutions and are ‘DESPERATELY NEED AN ALTERNATIVE’.
- Evidence that the 'IDEA’ can ‘solve the problem in 'SIGNIFICANTLY' better way than it is being currently solved!
- Evidence that the the entrepreneur has ‘RELEVANT SKILLS’ to convert the Idea in an ‘INNOVATIVE SOLUTION’.
- Evidence that the ‘QUANTIFIABLE VALUE' is created’ by the perceived innovative solution.
- Evidence that an 'INNOVATIVE 'BIZ-MODEL’ ensures customers' ‘ABILITY TO PAY’ for the solution.
- Evidence that the leader of the pack can ‘PILOT THE PLANE’.
- Evidence the ‘MENTOR' has 'SKIN IN THE GAME’ to hand hold the team thru its journey!
- Finally there is Evidence that there are ‘ENOUGH & MORE CUSTOMERS' who are 'WILLING AND ABLE TO PAY’ for the 'INNOVATION' i.e. the product, the service or the process.
So start collecting the evidence to build a case for invest-able venture.
Co- Founder MedLumos Pvt Ltd, Social Entrepreneur, Consultant Dermatologist, Manipal Hospital, Academician
1 年Pankaj Thakar way you have deconstructed the whole process empowers first time entrepreneurs like me . Thanks
Founder at The Digital Frog | $112M+ Revenue Generated for Clients | Helping Startups & Businesses Grow Through SEO, Social Media, Branding, Lead Generation, and More
1 年It sounds like you have a lot of interest in entrepreneurship, innovation, and technology, both in India and globally. Lean startups, venture capital, creativity, social networking, and ecommerce are all important aspects of business strategy and management, and social media is a great way to stay connected and informed on new developments. Women in science is also a great cause that deserves more attention. Padup Ventures is a great source for information about the entrepreneurial ecosystem in India.
Unlimited Choices
1 年Crisp and clear.. Well said Pankaj!
Thanks for Sharing! ?? Pankaj Thakar