What makes a good startup?

19 05 2012

After my stint on Radio New Zealand Saturday Morning with Kim Hill this morning, I was asked to provide a list of the attributes of what I consider to be a good startup.

You can listen to or download the audio:

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Here’s my shopping list of criteria for good startups:

1.  Market
a)   Global
b)   Clearly articulated market problem description
c)   Significant addressable market size
d)   Clearly identified market need (for the problem that is being solved)

2.  Team
a)  Has both sales and engineering
b)  Domain experience
c)  Clean capital structure (if any)
d)  Track record that demonstrates achievement and integrity
e)  Vision
f)  Passion
g)  2-3 People
h)  Pragmatic approach
i)   Articulate
j)   Coachable

3.  Product
a)   Web and/or mobile based
b)   Scalable
c)   Addresses significant pain
d)   Disruptive
e)   Simple
f)   Feeble competition
g)  Sound business model
h)  Capable of generating revenue quickly
i)   Can exploit network effect
j)   Novel and/or Freedom to Operate

Thanks to the RNZ team for a great on-air experience!

Keen to take your own idea for a spin?  Come along to Startup Weekend in Auckland (15-17 June) or Wellington (27-29 July) – I’ll be there facilitating, and you’ll meet some great people to collaborate with!







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