Usually, it makes sense to proceed with an concept/startup/product/team if you can answer “Yes” at least four from eight questions from the checklist below.
STARTUP POTENTIAL CHECKLIST (SEED STAGE):
1. 1m Users. Is your startup impact at least a million people?
2. Growing +20%/year. In a market that is growing at least 20%/year and showing that the problem is growing rapidly?
3. Timely. People have this problem now and are actively trying to solve?
4. $1b TAM. Does the problem is expensive to solve with at least a billion dollar Total Addressable Market?
5. Mandatory. Does the problem now exist based on changes in law or regulation?
6. Recurring. Do people have to solve the problem multiple times a day/week/month? Are they kept sticky, coming back regularly and frequently?
7. CEO. Were you the CEO or co-founder of a previous startup that was acquired for at least $10M?
8. Team. Does your founding team have more than 10 years of combined experience in the industry you are trying to disrupt.
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