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Venture Scorecard
Just as people have periodic health checkups where a physician examines a variety of elements to determine the overall condition of the individual, so too can a venture, company, business go through a similar process. Here are 30 categories to determine the strengths and weaknesses of a business venture. This is also a good checklist for early venture planning and validation research.
Glossary
- A
- A/B Testing
- See: Split Testing
- Accounting
- Accounting: the action or process of keeping financial accounts
- Additional Value
- See: Alternative Value
- Addressable Market
- Addressable Market: the total potential market for a product or service, measured in dollars of revenue per year
- Adventure
- Adventure: daring and exciting activity calling for enterprise and enthusiasm
Stages of Venture Evolution
Successful business ventures typically move from a] problem/solution ideation to b] planning to c] startup to d] stable to e] sustainable to f] scalable.
Another perspective ...
1. Opportunity ... gap in market, new technology ... maybe, just maybe, we can do something here
2. Idea ... clear problems, viable solutions ... hmmm, looks like there is something here
3. Concept ... viable strategies for earning a profit solving customer problems better than the competition
4. Venture ... viable innovation concept (product, service, process, position, method); viable team (innovator, entrepreneur, money manager); viable resources (people, places, things, time, money)
5. Organization ... team, roles, clear strategies,
6. Company ... legal entity (corporation, LLC, et alia), pre-sales, unstable financials (raising funds)
7. Business ... low-hanging fruit, sales, customers, stable, positive EBITDA, viable business model
8. Enterprise ... scale, scope, markets, growth, significant EBITDA, defined task and assignments, employees
9. Institution ... significant market share, significant industry position, re-invention, continual innovation
10. Tombstone ... the cows have run out of milk
Another perspective ...
1. Opportunity ... gap in market, new technology ... maybe, just maybe, we can do something here
2. Idea ... clear problems, viable solutions ... hmmm, looks like there is something here
3. Concept ... viable strategies for earning a profit solving customer problems better than the competition
4. Venture ... viable innovation concept (product, service, process, position, method); viable team (innovator, entrepreneur, money manager); viable resources (people, places, things, time, money)
5. Organization ... team, roles, clear strategies,
6. Company ... legal entity (corporation, LLC, et alia), pre-sales, unstable financials (raising funds)
7. Business ... low-hanging fruit, sales, customers, stable, positive EBITDA, viable business model
8. Enterprise ... scale, scope, markets, growth, significant EBITDA, defined task and assignments, employees
9. Institution ... significant market share, significant industry position, re-invention, continual innovation
10. Tombstone ... the cows have run out of milk
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