Wednesday, November 24, 2010

Defining the key parts of a startup venture - Why, What, Who, When, Where, How? - Part 1

After two of us decided to start Nemo et al we sat down and went through the steps of Dan Roam’s “The Back of the Napkin”:
  1. Why?
  2. What?
  3. Who/How many?
  4. When?
  5. Where?
  6. How?
Pretty easy process, but it helped us in exchanging our ideas and getting a common understanding and clarifying our viewpoints.
  1. Why?
    So we first looked at why do we want to start our own company? What is driving us?
    We came up with "being our own boss", "working on own baby", "having it tried", "learn", ...
  2. What?
    We are working in Consulting jobs/companies at the moment but starting another consulting firm is rather uninteresting for us. Perceived as a smaller step, not what we want to do in the long term.
    So we opted for doing a Product. You might wonder, ok so what is it. Actually we are not sure yet and we don't believe you have to have that one great idea to start a new startup. Seth Godin just recently had a good posts related to that ("I don't have any good ideas. So it is not about the idea, it is about shipping it. More about our approach to ideas in a future post.
  3. Who/How many?
    This was one of the next questions, where we recognized how we fit together and who is missing. We think that we are a good fit so far with covering the optimistic, visionary as well as the rational/realistic. We also recognized that one of our closest friends is missing in the journey, so we decided to ask him to join - which finally led to three persons on the journey now - H, M and K ;)
    We all have an IT and Business background, worked for a couple of companies and are getting along very good. so the who and how many is finished so far, although we believe that we need external help e.g. in design.
I know there are still some questions/answers missing, but they will get covered in the upcoming blogpost.

How did you start your business? Anything we are missing so far?

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