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Start-Up Readiness Level
The Startup Readiness Level (inspired by Steve Blank's Investment Readiness Level)
was designed as a benchmark for assessing the progress of a StartUp.
The Startup Readiness Level (SRL) is the appropriate framework for assessing the state of evolution of a StartUp from idea definition to exit.
We invest in stages between 3 and 6
1) Definition of the idea
Do you know why you want to start the project, what you want to achieve and with whom? What are your design criteria? What's your vision?
2) Understanding the problem
Do you really understand what is the problem you want to solve? Do you know the people who experience the problem every day in depth? How much does it cost them? How many people have this problem?
3) Exploration of possible solutions
Have you explored multiple solutions to understand which aspects are most important to your customers?
4) Validation of the product / solution
Are you able to find customers who prefer your proposed solution to their problem over any other out there?
5) Construction and validation of the MVP
Do you have a workable basic prototype? Are you able to generate traction and get your first paying customers?
6) Product Market Fit
Can you expand your customer base and find enough clients to make your business work? Would 70% of customers really hate not being able to use your product?
7) Validation of the revenue model
Are you able to make a profit? Is your revenue-model appreciated by customers?
Do you have metrics and margins in line with expectations?
8) Validation of business scalability
Are you able to offer your product/service at scale? Can you maintain high business margins and product/service quality?
9) Validation of growth
Are you able to acquire customers in multiple markets?
Customer acquisition cost (CAC) is lower than customer lifetime value (CLV)