Key questions to answer at this stage:

  • Why do you want to start this business?  What is your mission?
  • What is the customer problem you are solving?
  • Who has the problem you are solving?
  • How many of those people or organizations are out there (what is the size of the market)?
  • What is your solution to the problem?
  • How can you reach customers?
  • How will you make money with this business?
  • What product, service, or app development do you need to do?

Key activities at this stage may include:

  • Self-assessment
  • Look for co-founders
  • Develop a Value Proposition for your business
  • Validate your Value Proposition with potential customers
  • Research your intended market
  • Create an initial business model or business plan
  • Plan your exit strategy
  • Create your business and brand identity:  company name, brand name, logo
  • Develop your business “pitch” 
  • Create a set of milestones for getting to the Launch stage