With the prospect of continuing to contribute to the program, I’ve made a personal commitment to more broadly share some of the themes/questions that come up as a part of the experience.
A big part of my motivation to participate in the program is not only to give back to the business community (in particular entrepreneurs having a go at starting up a new business), but to also gain insight around the questions that I am not able to answer (and ideally be able to better answer them the second time around)!
There has been one reoccurring question at the heart of the mentoring relationships that I’ve been involved with over the year:
“Is this business worth doing?”
This question creates excitement for some and dread for others, both timing and cashflow are a major determining factor!
To borrow from Steve Blank, co author of the Start-up Owner’s Manual, this is the core question that a startup founder should be asking each and everyday including these associated questions:
- Have we found a product/market fit?
- Who are our customers and how do we reach them?
- Can we make money and grow the company?
…and most importantly…
Pivot or proceed?
Whether or not we are leading a start-up or work in an established business at scale, these questions are equally relevant and should be ones that we all continually ask ourselves and our colleagues everyday.