A checklist to apply the framework

Do it with your co-founders before starting. Tick a box only if you all honestly say “yes.”

A painful problem

• Can we describe the problem without describing our solution?
• Do potential customers already spend time, money or effort solving it?
• Do we use the product ourselves?

A customer you understand

• Have most of us, ideally all, lived the problem ourselves?
• Could we find 20 relevant users within two weeks?
• Can we keep access to them throughout development?

A big enough market

• Does a bottom-up count give a credible path to $100M+ in annual revenue?
• Is the need growing, and can we explain why?
• Would the business survive if one platform changed its rules?

A team built to last

• Does every founder talk to users and understand the core technology?
• Have we agreed on ambition, commitment, ownership and exit?
• Can we keep a healthy pace for years, not months?

A path to product-market fit

• Do we know our current stage and what we must prove next?
• Are we validating before building, even though we can build fast?
• Are we solving problems together instead of hiding behind titles?

If you cannot confidently answer these questions, try to understand the issues and fix them.

The goal is not to predict that a company will succeed. It’s to make sure you avoid the traps that can cost you years of your life and make you fail the goals you set for yourself.