Kendall's "Internet startup checklist":

1. Idea:

  1. Would YOU write a check for your idea?
  2. Don't spill your candy in the lobby.
  3. Is your idea refining or revolutionizing?

2. Funding:

  1. Are your financials realistic if nothing goes right?
  2. Could you see your investors with a 10X, 20X return in 3 years?
  3. Do you have back-up plans b,c,d before quitting your day job?
  4. Do you have a great answer for the most cynical of investors?

3. team:

  1. Can you build your idea or will it take a team of pros?
  2. Is a specific person on your team essential or can he/she be replaced?
  3. Dont give up the farm to recruit talent.
  4. Hire brave & passionate smart people.

4. Product:

  1. Does your product SOLVE a problem?
  2. Beware of feature creep! Customers & prospects add features, not developers.
  3. Stay focused on money earning features, not cool ones.

5. Marketing:

  1. Is it costly (time/resources) to get branded in your target market?
  2. Make a goal of closing a core group of customers the first year. (traction)
  3. Adjust marketing resources to get traction (don't need much).
  4. Be sure to test your "seo / ad-words / ad-sense" properly before banking on them
  5. Nothing is better than "boots on the street." Start knocking on doors.

6. Customer:

  1. How many "loss leaders" do you have?
  2. Does your idea help your customer or is it just a "nice to have"?
  3. Make each customer feel like they are the only customer you have.
  4. Can your customers be up-sold? Do they have peers they could refer?


January 15, 2010: A little help goes a long way.

The greatest solvable problem I believe is the divide between the “haves” and the “have-nots”, or giving to the greater good. With talented friends, resources, and the Internet, I know I can help make the world a bit easier for a few folks.

Photo: [flickr]

alittlehelp
What if there was a way to quickly receive critical funds to get groceries for a needy family within hours? OR…What if you could donate or tithe knowing EXACTLY where your money went each Friday via an email / rss / txt etc.? Thats the backbone of my idea.  Create a portal that not-for-profits (churches etc.) that could govern the communication / funds between the needy and the blessed.  Not sure if its a money making idea, nor I am not sure I care, but talk about a problem that can be solved with the Internet & kindness of neighbors.

Comments: 4 Want to comment?

Posted by Kendall in Greater Good

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