In this Feedback Session, Founders will present any customer development progress to the Mentors to examine if they are pursuing a scalable business with a clear and actionable customer problem. The Mentors will also provide tips on how to validate your key assumptions, interview potential customers effectively, and best interpret the feedback you receive.

Sprints

Below are just a few of the 10-15 deliverables you’ll complete through Working Groups and Office Hours:

Launch Track Deliverables

1. Customer Interviews - Develop a longer series of customer interview questions based on your initial interviews and key assumptions, with at least ten open-ended customer interview questions for each customer problem.
2. Customer Archetype - Use our guidelines to develop or improve an initial customer archetype for your ideal target customer.
3. Landing Pages - For each remaining customer problem, develop or improve a professional landing page targeted to your initial customer archetype, and quickly build up a mailing list to receive customer feedback.

Growth Track Deliverables

1. Customer Archetype - Use our guidelines to create or update a detailed customer archetype of your target customer, based on either your existing customers or improved research.
2. Revenue Interviews - Interview customers about the pricing of your revenue model, using three different revenue models/ pricing schemes. Confirm your existing model or select a new one based off these interviews. 
3. Interview Competitor Customers - Identify customers of competing products or solutions and encourage them to switch to your solution, ideally securing a letter of intent (“LOI”), or developing an ongoing relationship for feedback. 

In this Feedback Session, Founders will share their pitch and revenue model with Mentors for feedback and continued refinement. You will also get tips on how to sustain your startup before receiving financing or revenue, identifying the most lucrative revenue source for your business, testing different revenue sources with your target customers, and more. 

Sprints

Below are just a few of the 10-15 deliverables you’ll complete through Working Groups and Office Hours:

Launch Track Deliverables

1. Customer Problem - Based on your research, select one customer problem to pursue in the program that has the greatest chance to generate significant revenue.
2. Revenue Models - Narrow down that problem to three potential revenue models, and thoroughly analyze the positives and negatives of each model.
3. Professional Pitch Deck - Use our templates to develop a professional three minute long pitch deck, based on the feedback, concepts and flow that have resonated from your Hotseat pitches.

Growth Track Deliverables

1. Expert Interviews - Speak with three financial people who have experience in a similar industry to your customer problem, and get their insights and opinion on the scalability of your revenue model.
2. Key Performance Indicators - Based on your research thus far, identify the final key metrics that will impact your ability to secure revenue (and funding). Discuss these with your Local Leaders, and finalize a tracking system for these metrics. 
3. Product Development - Refactor your plans to prioritize the release of a solution that will generate initial customer revenue and validate your riskiest assumptions.

Similar to the Mentor Idea Review, the Mentor Progress Review is the second major test in the program. In this session, Founders will focus on give a long presentation their progress and traction to a panel of Mentors for a detailed review. Mentors will evaluate Founders based on their progress in the program, the company’s scalability, and more.

Sprints

Below are just a few of the 10-15 deliverables you’ll complete through Working Groups and Office Hours: 

1. Polished Investor Pitch Deck - Create an expanded, 12-slide pitch deck incorporating any feedback from the Mentor Progress Review, using our templates. 
2. Growth - Make progress on your growth goals, and examine or adjust how your strategy and the system to keep yourself accountable is performing.
3. Product - Make progress on your next product release, and outline and address any of the setbacks that you have faced with your project team.
4. Hiring Needs - Score the progress of each member of your project team on a 1 to 10 scale, including yourself, and set up plans to improve those that are struggling. 
5. Finalize Advisory Board - Set up your advisory board with startup, industry, technology or marketing advisors, and set up a one hour conference call with all of the them, which will be your first quarterly advisory board meeting.
6. Financial Model Update - Review and update your financial model with the work done to date. Adjust the revenue projections based on your growth thus far, and evaluate the need and requirements for external funding. 

In this Feedback Session, Founders will receive feedback from Mentors on their team plans and product progress. In addition, Mentors will discuss how to identify the roles needed to build a world-class company, how to develop a strategy to recruit, onboard and retain the best people, and more. 

Sprints

Below are just a few of the 10-15 deliverables you’ll complete through Working Groups and Office Hours: 

1. Candidates - Search for candidates to hire (including Co-Founders) by identifying everyone that you know who is appropriate, or leveraging the FI network, to fill the top two or three roles you are not planning to outsource.
2. Hiring Process - Develop a hiring and onboarding process using our guidelines to add team members into your organization, and begin executing on the process.
3. Test Projects - Develop at least one test project for each of your top two or three roles, which should create opportunities for credible candidates to demonstrate their skills.
4. Advisor Review - Arrange a meeting or phone call with at least one of your advisors to discuss your hiring work. Present everything that you have done, and incorporate their feedback into your planning.
5. Time Allocation - Meticulously outline your “founder’s schedule” by allocating weekly blocks of time to address your core business activities, providing you with uninterrupted time to work on each activity.
6. (Optional) Fundraising - If you don’t have sufficient capital to run the company for the next few months, then follow our guides to start a preparing documentation and research for a funding round.  

Completing the Founder Institute is an honor. The program is challenging, and the expectations are demanding.

In this final session, you will celebrate with your peers, friends and family, as well as select Mentors. Some Founders will also pitch to a live audience, and you will officially onboard to all of the post-program resources and assistance the Founder Institute provides.