We have been taught to be confident and trust our own capabilities. However, don’t be blind to all the obstacles in the startup journey!
Things to mull over:
- Execution plan.
What if things don’t go according to the plan? Are there alternative options / paths?
- Skills required.
Does the team have the skills to deliver the execution plan? If not, where, when and how those skills should be recruited to make things work? What should be done if one or more team members are found not to be at par with the others?
- Markets.
Where are the markets? Are they big enough and easily accessible to the products / services?
- Budget.
What if the financials are not up to the budget? If the revenue is 20% off and expenses are 20% up, any salvage plan?
- Investors
If there are insufficient investment interests in the startup, how long can the startup survive? Are the terms attractive enough to the investors?