1 – Explore and Ideate

| Product Timeline

During this very beginning phase of the startup life-cycle assess the viability of your business idea. Seek out advice and opinions from as many friends, family members, colleagues, business associates and industry experts as possible. Create a chart with pain points to help explore these new ideas. Consider your entrepreneurial ambition, product knowledge and if there is a large enough target market.

Key Concepts of this phase:

  • Discovery & Ideation
  • Share idea widely
  • Customer interviews
  • Assess market size
  • Begin to develop a compelling value proposition
  • Consider personal goals, financing and risk tolerance

Typical resources needed at this phase: