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The 500 checklist

  • Product solves a problem for a specific target customer
  • Capital-efficient business – operational @ < $1M funding
  • Primarily internet-based distribution – search, social, mobile, location
  • Simple revenue models – transactions, subscriptions or affiliate
  • Functional prototype before investment (or previous success)
  • Small but measurable usage – some customers, early revenue
  • Small but cross-functional team – engineering, design/UX, marketing
How does your Lean Startup stack up?

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