Painting - Ernesto Arrisueno
In the predominantly informal space that startups form in, these are a few regards I learned along experimenting.
First, it must be a corporate legal entity through which to conduct business, this will most likely be a Delaware C corp. Clerky has quick and clear services ranging from employee stock options, legal paperwork, incorporation to other stock plan adoptions.
To get a recap sense of intellectual property implications between founders and the company, and what raising capital will need, this presentation from Harvard's innovation lab is resourceful.
II.Product & Acumen
Your concept will have to be broken into the parts:
- Business model and value proposition structure. Newer models constantly emerge but this is nice glance at prevailing ones
- Market size. How large of a potential market is it aiming?
- Financial modelling based on revenue model, and minimum viable product. How is it both qualitatively and financially viable through engagement, transactions, or activity it counts as plusses and metrics.
- A short business plan summing things up clearly.
- An idea of the back end's requirements, and its features. It's key to draft things from a scalable lens.
b.Your share and intuition:
- Familiarizing with the sixth sense parts of the above.
- Data governance and knoweldge.
- Mentored insights and high growth trainings if and only if doable.
- Role and functions you'll reunite for yourself as things evolve.
- Amongst a few others, I highly advise checking these people on Quora for the depth of their answers: Faisal Khan, Dustin Byington, Richard Reiner, Keith Rabois, Naval Ravikant, and Davis S Rose.
Far from a complete advising, but contains some essentials that are a little painstaking to fetch in one streak over the web. Public or Private Beta test releases and potential launch phases can come only after a strong product. One's style of raising capital is linked to the points above and other personal considerations (crowd funded? angels? family and friends? all of it?). But of course, Tilt, Kickstarter, and Republic.co (for both investing and raising capital) aren't bad for crowd funded episodes.