Updated: Feb 20, 2021
I've had many opportunities to talk about the SDGs recently, and I talk about the Five Steps of Vision.
1) Create a vision,
2) Set targets for what you can do,
3) Identify the current situation
4) Identify the problem, and
5) Propose a solution.
There's more to it than just these five steps. Now that you've created a solution, you want to get people to buy in and invest in it. That's why there is the Five Steps of Vision and beyond. When we do something new, I sometimes ask my staff to explain it in this way. If you write it down in this way, in about three minutes, I think you can summarise whether the new project makes sense or not.
4) Present the problem,
5) propose a solution,
6) show the market size,
7) disclose traction, and
8) talk about the insights.
I think I always talk about starting with a problem and proposing a solution because people will only pay for a problem. That's number 4 and 5, the same as the vision framework, and number 6 is how significant an impact we can have if we do it. This market size also means how big the problem is and how many people want to solve it.
The seventh traction is what you are working on, and by showing this, you can show that what you are working on is feasible and why only you can "make this solution happen". The eighth insight is the secret of the industry or market that only you know. The seventh and eighth insights are the same in the sense that they are "only you know", which can be confusing, but the seventh is "only you know about you", and the eighth is "only you know about this industry's secret". You can think of it as inside information and outside information.
This new sixth, seventh and eighth can be in any order. After this, you can explain your business model and describe your team.