The most common questions
How do I graduate from the Discovery stage?
You graduate from the Discovery stage when you achieve a level of validation that meets and exceeds your risk tolerance. You should clearly understand your critical path, guaranteed outcome, and 1st success metric. Passing this threshold means you've gained enough confidence in your solution to move to the next stage of your business.
What factors should a company consider before going public?
Before deciding to go public, a company should assess market conditions, the competitive landscape, and its own financial health and growth trajectory. The IPO process requires precision, integrity, and a long-term strategic vision.
How do you know when you've graduated from the scalability phase?
You graduate from the scalability phase when you can prove you've met your goal for market dominance. This typically involves surpassing a certain threshold in market penetration and winning the volume game in your industry.
What is the role of Founder's Best Friend in the Adoption stage?
Founder's Best Friend guides you through crafting a compelling narrative for your customers, achieving your first economic milestone, and understanding the level of your business. Business owners in our FBF community can access live workshops, self-paced education and 1:1 coaching.
What is sustainability in business?
Sustainability in business refers to a company's ability to manage its operations and growth effectively over the long term, ensuring its survival and success.
What are critical business events?
Critical business events are significant occurrences in a business lifecycle that can drastically alter its future. They can be planned, like an IPO or leadership transition, or unplanned, like a market flux or global crisis.
What are the different types of business events?
Business events range from planned acts of volition like IPOs and leadership transitions, fortuitous turns such as a competitor's mistake boosting your market profile, to undesirable stutters like regulatory shifts or PR crises.
What is expected of me as a member?
As a member, you're expected to actively participate in meetings, contribute your own insights and experiences, and support other members. Confidentiality is also crucial, as members often share sensitive business information.
What is the Entrepreneurial Foundation Session?
The Entrepreneurial Foundation Session is a service offered by Founder's Best Friend to assist founders in defining the who, what, and why of their venture and validating their offerings.
How should a company prepare for a merger or acquisition?
Preparation for a merger or acquisition involves meticulous planning, commitment to due diligence, and a keen eye for compatibility. A comprehensive financial audit, legal review, and cultural assessment are essential during the due diligence phase.
Can I cancel anytime?
There are no contracts or long-term commitments. If you need to cancel or put your membership on pause, just let us know.
What is the Compelling Narrative Assessment?
The Compelling Narrative Assessment is a tool provided by Founder's Best Friend to help you understand how well you communicate your business value to your customers.