Developing Great Ideas for Startups
On 10 February 2021, Philip Ammerman delivered an online talk on Developing Great Ideas for Startups. The event was organised by the Centre for Entrepreneurship at the University of Cyprus. Please access the full presentation and video made by Philip Ammerman for UCY C4E entitled Developing Great Ideas for Startups.
Nicosia, Cyprus: 19 February 2021
Everyone has great ideas, and many of us have more than one. But how can you evaluate your idea to understand whether it’s good enough to launch as a business?
In order to help aspiring start-up founders, we have developed a 15-step thought process to help profile, quantify and evaluate start-up ideas.
This is done prior to a full business plan, and illustrates some of the practical requirements needed to convert an idea into a business venture.
There are fifteen steps to the process. While they appear linear, many of them are heavily iterative and you may often find yourself repeating steps or re-challenging assumptions the further you move into the process.
1. What Sets You on Fire?
2. Product Market Fit
4. Defining & Defending your Product
5. Profiling your Ideal Customer
6. Market Size & Location
7. Market Access & Permission to Market
8. Testing your Product
9. Gaining your First Customer
10. Building your Team
11. Building your Capabilities
12. Finance & Costing
13. Pricing & Contracting
14. Getting Backed
15. The Give It All Up Test
Please see the full presentation below.
Please see the full video of the talk below.
Philip Ammerman is a company founder, entrepreneur and angel investor. He works with investors, founders and other clients in due diligence, business valuation, financial modelling, business development and investment management.
Philip has advised “real economy” investments, on over 120 investment transactions with a total investment value exceeding € 6.0 bln. He has extensive experience in the tech sector, advising buy-side investors (VCs, PE firms, family offices, business angels) on due diligence and investment decisions. He also supports founders in areas such as business planning, valuation and fundraising.
In 2010, Philip and his partners launched the Navigator Entrepreneurship Charter, a commitment to support or launch one new company per year between 2010 and 2020. This has led to the foundation of 9 new companies and support to one entrepreneur. The Charter is being renewed in September 2020.
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