We’re today live from Singapore where we have the chance of meeting with Alan Yeap founder of Viroboss.
Serial entrepreneur, Alan will take us through some of his past experiences. Our main challenge today, we’ll be to draw 12 steps, 12 elements to keep in mind when you start a new business.
After raising 800,000 USD to develop a project that struggled to deliver, Alan had to rethink the full business model. For the ones who still don’t know it, I invite you to read the Lean Startup. For the others, let’s jump into the core of the discussion.
Let’s say that you raise almost a million USD in funding to deliver a project that comes too late or does not come at all. What do you do?
Alan Yeap took this bet after funding his startup, despite not having any MVP live. It’s a very interesting way of raising money and after listening to the podcast, you should definitely get more elements to answer in order to waste time, money and effort in the wrong direction.
So here are top 12 elements you should answer to avoid losing your energy.
Consider your project from these angles and you will be able to find the answers to the following questions – Is my project making sens from:
- Customer and vendor angle
- Monetize angle
- Technical angle
- Operation Management angle
- Investor angle
- Global expansion angle
- Local & Global Partner angle
- Competitor angle
- Corporate Financial angle
- Government angle
- Regulation & Tax angle
- Country culture angle
Whatever is the answer it’ll give you more elements to decide whether or not you’re heading into the right direction.
What do you think? Is there anything else we should add on the list? Share your ideas in the comments!