ℹ️About

📋How to

Analytical Progress To PMF.png

Step 1: Write down your Line in the Sand

Before we start, write in the top right hand of the canvas the phase name and the date. Because every phase is iterative, which means you might not nail the metric of success from the first trial, we would need to give this v.1 to indicate that it’s your version 1 of this analytical analysis of this phase.

Now, we’re going to put your due date and the measurable outcomes that we need to achieve out of this phase. The outcome we’re seeking here is Idea-founder fit, which we explained before. The duration we anticipate for this phase after evaluating a lot of startups is ____ days.

Step 2: Set up your MOP’s (measure of progress)

Now that we wrote down our goal, aka line in the sand. It’s time to define the key metrics required to be measure for you to know about your destination, the outcome.

Start with your OMTM, only metric that matters, which is idea-founder fit. In the description of the metric write down that it’s the combination of Great Potential Idea and Founder’s Skills & Passion. As you’ll know as we go, the idea-founder fit score is from 1 to 5. So it’s important now to define what success is and what failure is. Simply ask yourself, what is a score (from 1 to 5) that I want for this to be called “success” and what’s the score that you would consider this a “failure”

Afterwards, write down your associated metrics, which are preceding or related metrics to your OMTM. These are the idea score (that has to do with your idea) and the team alignment score. For the idea score, it ranges from 2 to 30, which you’ll get to know later on.

For now, we recommend a score of ___ for a good idea, a score of ____ for a great idea and a score of ____ for a million-dollar idea. As for the team alignment score, it’s actually is more of a gut feeling than a numerical value. You can simply ask yourself, from 1-5, how much do I think that this is the right team for the idea.

Step 3: Write down your required milestones

Now, we’re going to list down the criteria required to exit this phase with success. So list down the below steps that we recommend for this phase:

  1. Generate idea
  2. Formulate, Research & Evaluate Idea
  3. Evaluate yourself for the idea
  4. Run an idea Experiment
  5. Analyze for Idea-founder fit
  6. Find your co-founder and evaluate team alignment (optional)
  7. Split the equity (only if you have a co-founder)
  8. Design your execution plan

We need to check this off and then provide evidence (results and metric scores) as we go throughout this phase, so keep this canvas handy as it will be your guiding canvas

If you notice, the Potential Routes section is already filled up. These are possible suggestions and routes that we’ve found out while testing with many startups whenever you couldn’t reach your success metric.