🚀💡 𝐖𝐡𝐲 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐂𝐨𝐧𝐯𝐢𝐧𝐜𝐞 𝐔𝐬 𝐨𝐧 𝐓𝐞𝐚𝐦 𝐚𝐧𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐚𝐧𝐝 𝐆𝐨-𝐭𝐨-𝐌𝐚𝐫𝐤𝐞𝐭?
When it comes to 𝐞𝐯𝐚𝐥𝐮𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐨𝐟 𝐚𝐧 𝐞𝐚𝐫𝐥𝐲-𝐬𝐭𝐚𝐠𝐞 𝐬𝐭𝐚𝐫𝐭𝐮𝐩, we focus on four essential points: the team, the market, the product/service, and the go-to-market strategy. 𝑩𝒖𝒕 𝒘𝒉𝒚 (1) 𝒅𝒐 𝒘𝒆 𝒔𝒆𝒆𝒌 𝒄𝒐𝒏𝒔𝒆𝒏𝒔𝒖𝒔 𝒇𝒓𝒐𝒎 𝒐𝒖𝒓 𝒕𝒆𝒂𝒎 𝒐𝒏 𝒕𝒉𝒆 𝒇𝒐𝒖𝒏𝒅𝒊𝒏𝒈 𝒕𝒆𝒂𝒎 𝒂𝒏𝒅 𝒕𝒉𝒆 𝒎𝒂𝒓𝒌𝒆𝒕, 𝒂𝒏𝒅 𝒘𝒉𝒚 (2) 𝒄𝒂𝒏 𝒘𝒆 "𝒔𝒆𝒕𝒕𝒍𝒆" 𝒇𝒐𝒓 𝒔𝒕𝒓𝒐𝒏𝒈 𝒄𝒐𝒏𝒗𝒊𝒄𝒕𝒊𝒐𝒏 𝒇𝒓𝒐𝒎 𝒐𝒏𝒆 𝒐𝒇 𝒐𝒖𝒓 𝒕𝒆𝒂𝒎 𝒎𝒆𝒎𝒃𝒆𝒓𝒔 𝒐𝒏 𝒕𝒉𝒆 𝒑𝒓𝒐𝒅𝒖𝒄𝒕/𝒔𝒆𝒓𝒗𝒊𝒄𝒆 𝒂𝒏𝒅 𝒈𝒐-𝒕𝒐-𝒎𝒂𝒓𝒌𝒆𝒕?
👥 𝐓𝐡𝐞 𝐓𝐞𝐚𝐦: At the heart of every startup lies a team that we hope is dedicated and competent. Their vision, passion, and complementary skills are essential drivers of success. A solid consensus on the team ensures effective management of challenges and execution of strategies.
Analogy ▶ It's as if you imagine a navigation team ready to embark on a perilous (or even chaotic) journey. Each member possesses unique skills: the captain with vision, the crew with strength and agility, the navigator with precision, and so on. Consensus on this team is crucial because they will steer the ship through tumultuous waters toward success.
🌍 𝐓𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: A solid and growing market is the cornerstone of any successful business. Understanding the target market, its trends, and needs is crucial for positioning the product or service competitively. Consensus on the market confirms the viability and growth potential of the company.
Analogy ▶ Think of the market as a sports field for a team. A dynamic and growing market is like a crowded stadium, full of opportunities to score points. But without a clear understanding of the rules of the game and the opponent's movements, even the most talented team could find themselves running in the wrong direction. Consensus on the market is therefore essential to ensure the company is aligned with the needs and trends of the audience.
💡 𝐓𝐡𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭/𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐚𝐧𝐝 𝐆𝐨-𝐭𝐨-𝐌𝐚𝐫𝐤𝐞𝐭: While these aspects are essential, they can be adapted and optimized over time. We believe that by having consensus on the team and the market from the outset, we ensure that even if adjustments are needed in the product or market strategy, the company still has a solid foundation for success.
𝐈𝐧 𝐬𝐮𝐦𝐦𝐚𝐫𝐲, by giving particular importance to consensus on the team and the market when analyzing a startup, we ensure building on solid foundations, allowing the company to adapt and thrive in a dynamic environment.
Thanks to the The Blueprint VC's Team!
Philippe, Corinne, Laura, Ibrahim, Menno, Benoit, Pierre
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