7 Startup Planning Free Online FlashCards

What is the purpose of a startup plan?

A startup plan turns research and assumptions into a sequence of decisions. It guides the team and should change as evidence accumulates.

How should a team distinguish evidence from assumptions?

Evidence is supported by observations or data; an assumption is uncertain and still needs testing. Label important statements and note their sources and confidence.

What should a startup define about its customer problem?

It identifies who experiences the problem, how often it occurs, and what consequences it has.

What does a value proposition explain?

A value proposition states the outcome the startup will provide and why customers might choose it over current alternatives, including doing nothing.

How does a revenue model differ from a business model?

A business model describes the activities, resources, partners, and channels needed to deliver an outcome. A revenue model specifies who pays, what they pay for, how much, and how often.

Which assumptions should a startup test first?

Prioritize assumptions that could seriously undermine the plan and are weakly supported. These are the riskiest assumptions to test.

What are the three kinds of startup assumptions?

Desirability asks whether customers want the solution; feasibility asks whether the team can deliver it; viability asks whether the economics can work.

What four elements belong in a test card?

A test card states a specific hypothesis, selects a low-cost test, defines what result will count as evidence, and sets a decision threshold.

Why can customer actions be stronger evidence than positive opinions?

Customer actions, such as sign-ups or paid pilots, generally provide stronger evidence of interest than favorable opinions alone.

How does a milestone differ from an activity?

A milestone records an outcome and evidence, such as learning which customers have an urgent problem. Completing an activity, such as conducting interviews, does not by itself show progress.

What should be specified for each milestone?

Assign each milestone an owner, target date, required resources, success measure, and resulting decision.

What is a practical sequence of startup milestones?

A useful sequence is customer discovery, business-model testing, delivery testing, and launch readiness. Each stage supports a decision about what to do next.