No matter who you talk with, all inventors and entrepreneurs want`s business success – but the big questions from the investors are addressing two vital questions:
- What`s your funding stage?
- What`s your maturity level (ie. What`s the risk for my money as an investor)?
Even your employees, stakeholders, suppliers, banks, partners etc. all wants to know the same, right?
Well, the first thing you need to do is to run an assessment test called; “The Startup Maturity Profile”!
It will run a “business health check” determining your strong and weak areas giving you an excellent opportunity to start improving on something clear and meaningful.
The Startup Maturity Profile has a total of 35 skills that needs to be evaluated from a range of 1-10.
It gives you a total score of maximum 350 points which is 100%.
The mechanism to interpret values should be as easy as possible.
First, let us invent something to get rid of the endless number of words like “bad”, “good”, “so-so” and “excellent”. Let’s call this “invention a scale”.
All measures will be interpreted by assigning them a mark from a given range based on the following options.
High values are good – low values are bad.
In this range the least possible value will mean the worst and the biggest possible value will mean the best.
Let’s say that adding new customers get a mark of 7 from a 1-10 scale (the more customers the better), which is medium performance.
In order to visualize different performance, scales are divided into different levels and colors;
- Minimum performance = Red color (mark 1-6)
- Medium performance = Yellow color (mark 6-8)
- Maximum performance = Green color (mark 8-10)
Marks close to minimum (bad values) are colored red, marks close to medium (medium values) are colored yellow and marks close to maximum (good values) are colored green.
Here`s an example of an average score of The Startup Maturity Profile:
IF this was YOUR company; how “likely” someone invest?
Ever gotten feedback from an investor telling you;
“Oh no – I am not investing my money into your company because you are too immature.
Get back to me in a year or so .. and good luck!
That`s too bad – but – there are some good news – you can do something about it!