in his book , listed 7 questions a startup must answer in order to make it big.
- The Engineering Question: Can the technology create a 10x improvement rather than an incremental improvement? Is the superiority in technology going to be obvious to the customer?
- The Timing Question : Why “now” is the right time for your startup and why is the problem you are solving important now? Is it a space that is trending up now? If yes, is it trending up slowly or fast?
- The Monopoly Question : Is the startup going to be a monopoly? Will it have a very very big market share in a small market that is growing? Will it be hard for new entrants to replicate what you have done?
- The People Question : Do you have the right people in your team? A team with a culture and conviction that can drive them to innovate such a solution into existence.
- The Distribution Question : Do you have a way to reach your customers efficiently?
- The Durability Question : How can you dominate the market for the next 20+ years? What can fuel the consistent demand and supply? What will stop new entrants from putting you out of business over a long period of time?
- The Secret Question : Do you know something that others don’t?