Entering a New Stage with Multiple Fronts

The development of a start-up has many stages and although they might vary slightly from one start-up to another…I think, to some extent, they are basically the same. Of course this is my first start-up of this magnitude, and I’m not an expert, so I’m writing this post (like all my other posts) in laymen’s term.

Here is a little recap of what’s been going on to better lay the foundation to explain the new stage we’re entering into:

First Stage: Have an idea. I was blessed with an idea for a web start-up through having/seeing a huge need that is currently unmet.

Second Stage: Create a team. I shared the idea with a few people who had key abilities, experiences and assets in the hope to create a team that could develop and bring the concept to market. The concept became known as: Why Go Solo

Third Stage: Nail down who is in and who is out. The team solidified itself (two of us were left standing) and we proceed to get the business plan together

Fourth Stage: Write the business plan. Through writing the business plan, doing a lot of research, and talking to many people about Why Go Solo; the idea/concept grew and was furthered developed.

Fifth Stage: Raise money. Once we had a completed business plan it was time to raise funds. Through lots of researching, networking and hitting dead ends…we realized we needed more than just a business plan to raise funding.

Sixth Stage: Develop the “product”. This stage required finding and bringing together a development team. Without funding, this stage also required growing the overall team, which is truly a joy and pleasure.

Seventh Stage: Get the growing team up-to-date and working together. Establish procedures, terms, and development platforms.

Eight Stage: Begin development.

It’s odd to look at those stages simplified like that, because it does little to identify the many challenges, obstacles, victories, joys, pains and difficulties you encounter in each of the stages...

Anyway, this brings us to the Ninth Stage…and let me tell, Stage Nine is one complex stage.

Ninth Stage: Multi-task, Supervise and Grow

For Why Go Solo, Stage Nine has three main fronts and multiple sidebars.

Front #1 Development: The development process requires constant supervision and clarification. Each developer/programmer is working diligently on his or her own piece of the puzzle and each piece is being brought together to create a whole. The whole is a moving target that needs to be identified, clarified, solidified, and perfectionized constantly, so it is the extreme best it can be. This requires the efforts, coordination and participation of many people.

Front #2 Fund Raising: Since the product is being developed…the fund raising efforts are being re-initiated. This includes updating potential investors, reconnecting with past investment options and creating new investment routes and opportunities. This involves a lot of researching and networking.

Front # 3 Finding our Clients and Customers: It’s too late to start thinking about establishing contact with potential customers once your product is already to market. This needs to begin happening before your product hits the market. Since we have three types of clients and customers:

• Individuals (This group is further broken down into three main markets)
• Corporations
• Partners/Advertisers

It’s even more crucial that we begin reaching out and building interest in who we are and what we are offering, ASAP. This involves creating a lot of materials and presentations. It also involves networking with an entirely different set of people…

Anyone overwhelmed yet!?!? Hope not…because we haven’t even addressed the side bars:

Sidebar #1 Production: We have a production side to our web start-up, therefore, we also need to buy equipment, test the product and begin production and create an inventory. This involves doing some additional research and finalizing some items and partnerships.

Sidebar #2 Board of Advisors: Time to focus on operating more like an established start-up and begin having regular meetings with our Board of Advisors…in preparation to working with our Board of Directors.

Sidebar #3 Legal Matters: “Protect our Six” We have been very good at seeking and following legal guidance and advice. Now, in Stage Nine we have a lot of new agreements, contracts, terms of services, etc. that we need to ensure we are creating and using. We also need to start submitting our patents.

Sidebar #4 Coaching Corner: I haven’t talked much about this—if at all, and I’m going to keep it that way for now. I’ll just say that it’s big item on the sidebar that includes creating and establishing another blog and podcast.

We entered the Ninth Stage within the last couple of days and this stage will go for about the next 8 weeks. Truth is…the pace is only going to continue to pick up in the next stages. These are the real fun times of the start-up process...these are the times things are happening and coming together.