5 Chasms Framework
Ideate, Validate, Create, Grow, Fund
Go to market
Define your idea
Analyze the market
Validate customers need
Identify ideas that can become the next potential successful startup.
IDEA TO OPPORTUNITY
This is the phase where you define your idea using a structured methodology.
You understand what customer job needs to be catered, do the need analysis.
Identify and chart the opportunity space and plan the beginning.
Who are your customers
Helping customers buy
Your customers is your market. Develop your startup to cater to customer jobs.
Who are your customers? What are the demographic and sociographic profiles of the people who will make the decision to buy? Where do they hang out? How can you successfully acquire them?
THE MARKET AND YOUR IDENTITY
This is the phase where you are out understanding the market, customers to create the relevant minimum offering and acquire customers to gain the initial traction.
You get to know the eco-system, regulations, competition, decision influencers, users and person who pays.
You establish the proof of concept for your business and revenue model.
You create your value proposition to ensure the right message is passed for the intent and identify of your startup. You also create the viability and pricing possibilities.
PRODUCT GOTO MARKET FIT
Clear value proposition
Defined Go to market
Prove Market fit
Customers are paying
PRODUCT GOTO MARKET FIT
You are in a good market with a product that the customers have started buying. The alignment between the market and your offering is achieved when customers love and cannot live with your offering at a price they are paying.
THE PAYING CUSTOMER
This is the stage when you are developing customers who are exchanging real money for a real offering of yours. In this stage, you have a value proposition that is easy to see and experience.
Most importantly, you are solving what the customer thinks is the most crucial problem for them in a way that they can adopt with minimum resistance.
BUSINESS & REVENUE MODELS
Establish business model
Clear revenue models
Customer engagement models
BUSINESS AND REVENUE MODEL
You have established unambiguous models to operate your business in the market.
BUSINESS AND REVENUE
This stage converges your business model of engaging with customers in the market and revenue lines that can be counted to grow based on identified criteria. The pricing models and operating models support the business and revenue lines.
Sales and Marketing
Company is born
The company has been established with set processes and ready to take the big leap.
This is the stage in which market segments, product lines, profitability, sales engine, marketing plans start running in a structured and measurable way with an aligned team. Your company takes shape.
Your job as the CEO becomes even more demanding to ensure growth as well as sustenance.