Thinking about starting a company? This template will help you think through your startup idea from first principles.
- Merci Grace
This whole page is dynamic! Add your Figma files, customer data and more.
Merci's advice for each section is in a callout on the right. Add your answers in the empty space to the left.
Concept name
↑ Add the name of your startup here.
Startup spec — Oct 14, 2021
Example:
- “ML engineers at early stage startups”
- “ML engineering managers at early stage startups”
- And other similarly specific customer descriptions in an ordered list from most-to-least important.
Describe the problem that your company exists to solve for its customers. Be specific about what people are trying to accomplish and how they’re doing that today. This should be the meatiest part of your spec. It should also change as you do customer development interviews and learn more.
Describe what your customers are now able to accomplish or understand because they’re using your tool. This can be bullet points.
On the first day that your tool is adopted (or implemented) by an end user, what can they immediately accomplish? Also good as bullet points.
Example:
- Describe your wedge product and customer, eg. “Help ML engineers at early stage companies easily _______”
- What adjacent market or higher ACV product can you move into if you’ve successfully delivered on the first step? “Expand within customers by enabling engineers who use our product within sales and marketing teams to ______”
- And then what? “Launch a marketplace for developers building on our platform that allows them to _____ thereby enabling us to develop a long term moat for the business”
Example:
- What are usage patterns or technological hurdles that are known risks for the business?
- “Lack of mass adoption of consumer VR headsets within 2 years of launch”
- “Discontinuation of hybrid and remote work-from-home policies past the end of COVID reduces the need for the tool”
- “Pending federal legislation within the next 12 months”
