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sar/RBL1 Startup Evaluation Guide.md

Last active April 25, 2021 21:49
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RBL1 Startup Evaluation Guide.md

RBL1 - Startup Evaluation Guide

Problem

  • What is the core problem or unmet need?
  • What is the pain?

Solution

  • What is your solution?
  • What is your product or service?
  • What is the value proposition?

Users

  • Who is the user?
  • Whose pain is being addressed with the solution?

Customer

  • Who is paying?
  • Are the customers and users the same? Why or why not?

Market

  • How big is the market?
  • Specifically, what are teh total # of potential buyers?
  • How big is the market in USD? (Avg. Price of the product X total potential buyers)
  • Is the market growing, stable, or declining?

Team

  • Who is on the team?
  • Is there founder-market-fit - teammates with relevant industry knowledge, skills, leadership, relationships, prior successes and/or failures related to the market, customer need, and solution?

Business Model

  • What is the price for each product and/or service?
  • Is the revenue recurring or one time?
  • What is the length of the sales cycle?
  • What is the cost to acquire a customer(CAC)?
  • Expected LTV?

Go To Market

  • What is the primary Distribution chanels?
  • Who are the primary channel partners?
  • What is the plan of action to grow market share?
  • Obtain and surpass revenue targets?

Traction

Product

  • How developed is the product? Have you performed any pilots? Were any paid?

Users & Customers

  • How many active users are using the product or service? Monthly Active Users (MAU)?
  • How many customers are paying for the product or service today?

Financials

Revenue

  • How much revenue have you made to date? What is their current Annual Run Rate (ARR)?
  • Last months revenue (cash received) x 12 months, $USD)
  • Monthly Growth Rate?

Pipeline

  • What is the total contract value for signed letters of intent (LOIs), memorandiums of understanding (MOUs), and unfillfiled contracts over the next 0-12 months?

Milestones

  • What is the target revenue for next 3, 6, and 12 months?

Expenses

  • What is the cost of your product to make per unit for each product and/or service?
  • What is the average total monthly expenses (burn rate)?

Competition

  • Who are the direct and indirect competitors?
  • What are the barriers to entry? Differention?

Investment

  • How much capital has been raised to date?
  • How much cpaital has already been spent to date?
  • How much are they raising currently?
  • How much capital has already been committed?
  • What is the current pre-money valuation ($M, USD)?
  • Or Cap on the Convertable Note / SAFE?
  • Who are the investors in the previous round?
  • Who is the lead investors?
  • Who are the new investors?
  • Are any previous investors coming back?
  • Do they have any debt?

Board and Advisors

  • Any notable advisors with key relationships, prior successes, and/or failures?

Value Add

  • How can we help? Intro's to customers, partners, strategics, investors, or talent?

Risks

  • Major Risks?
  • Business model, market, legal, or macroeconomic risks?
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