Week 1 - MKTG 6101 - Ascend Your Start-Up Chapter 1

In Chapter 1 of Ascend Your Start-Up, Helen Yu writes about the important questions that must be asked as business owners start their journey. She refers to this stage as starting at base camp – the “ultra-exciting stage where you turn an idea into a product” (Yu, 2021, p. 32). There are five major decisions that start-ups should consider. 

Decision #1: Why are you on this journey? 

This decision is an opportunity to dig into the purpose and understand the “why” behind your journey. 

Decision #2: What problems are you solving?

You must determine what problem you’re going to solve, what differentiates your solution from others, and how you will deliver it to others. In this decision, you want to investigate and analyze the problem and see how your solution can answer the problem.  

Decision #3: What does success look like to you? 

Take the time to consider what your goals are and what they mean to you and your journey. Think about the overall goal of your journey and how you’re going to pick yourself up if/when you fail. It is important to remember during this decision to also consider your life goals as well because growing a start-up is demanding. 

Decision #4: How will you honor your brand?

There are 5 key points to consider when determining how you will honor your brand: vision, values, methods, obstacles, and measures. These points allow for you to identify what is important to you and how this will translate into your brand identity. Determining your start-ups values is an important way to identify what you do and who can benefit from it. 

Decision #5: How will you prepare for the climb? 

This decision focuses on being prepared for the unexpected and how you will react during these unexpected events. How one reacts to an unexpected opportunity plays a role in the success of the company. 

References:

Wikipedia. (n.d.). Mount Everest. [Graphic]. https://en.m.wikipedia.org/wiki/Mount_Everest

Yu, H. (2021). Ascend Your Start-Up: Conquer the 5 Disconnects to Accelerate Growth.