The PeerMentor execution model
wk 1-2
This is a critical ingredient. Startups are fraught with lots of challenges. It is only the passion that will see you through the ups and downs. Passion is infectious. This energizes everybody around. Passion sharpens your instincts. Passion makes you the master of the domain. You earn respect.
So are you passionate about solving any problem or interested to work in any domain? Will you enjoy working in this space for next decade? There you go… you are going to enjoy the startup ride.
wk 1-2
Connect your passion to a societal purpose; make it your purpose. Elicit a name from this purpose. Consumers will now connect.
A good purpose inspires consumers, employees, partners, vendors, and everybody else. This makes them take up your problem as their own. People give their best. A lot of people will offer help. Doors open. Magic happens.
The litmus test for a good purpose: Makes your Grandmom proud of you.
wk 1-2
If we use the maps analogy, passion is the source i.e. where you are and purpose is the destination. If these two are well articulated, then, how to get there becomes self-evident.
Often organizations forget this. They then become direction less. So, we define a “Direction Statement” – a 7-word phrase that becomes the tagline. Now all the decisions line up. Opportunities line up. You focus. Success is then a matter of time.
wk 2-4
While working in a startup related to kids and education we found that there are no “thinking models”. For e.g., Mathematics has a lot of models like addition, algebra, differentiation, and dreaded Bessel functions, etc… So in that startup, we invented a gamut of thinking models and thinking lexicon. Some startups and products own their existence to these models. These are handy when one is unable to think : )
Sustainable at every scale
wk 2-4
We execute a low cost lean startup. We will not have resources to fund operations or scale. While working part-time, we may choose to run in a small scale for longer before we tie up open issue. This makes it necessary to structure an execution model that can run on its own steam while we take a pause. So it is pertinent to be profitable and sustainable at every scale. Unit level profitability is mandatory. And, this is exactly the model that we will help you build.
wk 2-4
Starting up is high on risk as it involves a lot of unknowns. They are both internal and external and risks that we cannot influence. Thin resources amplify the risks.
To counter this, we have a 0 risk model in PeerMentor. We structure our execution model as a series of bite sized risks with nibble sized impact on failure. As a primary first step, we help you start-up in part-time. You quit your full-time job only after your startup can pay you a salary.
Priority & Promise matrix
wk 3-4
Platform: A high percentage of startups implode. Co-founder coherence and lack of chemistry are a primary cause. Founders join hands and start-up on a high note. Soon, the details that unravel during execution brings out the discord. This grows over time making the start-up shaky leading to implosion.
To address this, we write and sign off a set of contracts, agreements, assumptions. This forms the platform/scaffolding between the founders to build the startup on.
Priority matrix: Choices and decisions will bombard you. It is critical to say “No” as much as saying “Yes” to many of these choices. Our priority matrix helps you decide. This is a railing that will keep your bearing toward the “Direction statement”.
Promise matrix: Peter Drucker said, “Culture will eat strategy for breakfast”. Having seen this first hand, we developed the Promise matrix. This is a set of culture and values that the startup has to adhere to. This is specific to each startup. The person who breaks the promise has to pay a fine to the other. Fine here is usually a predefined % of equity.
wk 4-8
Pretotype: Read about Pretotyping here. A good pretotype is one that an 8-10-year-old can build. So when building pretotypes you can use skills and resources that are available to a school kid.
Confirm a market need using pretotypes. Convince a client that you can deliver using a pretotype. If you cannot, you do not know the problem you are solving. Then, no amount of money and resources can help you.
wk 8-12
Prototypes: A good high school student can build a prototype within their skill and means. Can you demo it and close a sale? can you win a consumer? Are they willing to pay? Can you collect cash? If yes, you have cleared the biggest hurdle in any start-up i.e. validating the market need with a paying consumer. You are all set to fly.
wk 12-24
Pilot, Positioning, and Pricing: Iterating and getting these right should be self-evident. Listen to consumers.
If you have got the previous steps correctly, you will easily get these 4 right.
Know more: by going through the
faq
wk 24-52
At this stage, you should be ready to quit your regular job and dive into your startup full-time.
Your startup should be earning enough profits to pay you an industry average salary. Else, you would have got funded.
You Polish your startup and set it to scale. Else, you Pivot. Repeat steps 10,11 and 12.
After this stage, our role is that of a mentor.
rohith@peer-mentor.com +91-98800-13512
