Startups are best characterized as companies that try to create new products and services under conditions of extreme uncertainty. Start-ups can be small companies but they can also be part of a large corporate. The biggest challenge for a start-up is to create a market for its proposition, as this market doesn’t yet exist and customer ‘doesn’t even know what he does not know’. The start-up need to co-create its own future as it cannot be predicted.
- What is my defensible uniqueness, i.e. what is my right to win?
- How to find a first partners/customer who is committed to co-create the market with me?
- How to change the behavior of my customers, partners and other stakeholders as this is essential for the success of my venture?
- How will I earn money in the end, i.e. what is my business model?
- How to segment my market and position my venture compared to other propositions in the market?
- How to validate my key assumptions in the market fast and cheap?
- What is my plan B?
- How to survive the antibodies of my mother company (in case you are a corporate venture)?