Refine Your MVP

Your company’s name is your company’s identity, and it should not be taken lightly. It can make or break your company. The name should encompass your business’s product offering, values, and personality, but have flexibility for future pivots and tweaks to the business. Before brainstorming the name itself, use this flight to identify key contextual considerations, analyze varying perspectives and interpretations, and set the stage for a name brainstorm, which you will complete with the next flight in this series.

Now that you have completed Brand Name Considerations, it is time to brainstorm the name itself. With the results of Brand Name Considerations flight in mind, use this flight to suggest names that will convey the right message and tone to the world. Try to suggest at least two, even if you have a favorite.

Because they require a high degree of cooperation and strategic alignment by both parties, joint ventures are extremely complex and often fail. Without these requisite qualities, deals will sour before they are completed. This flight will help the stakeholders on both sides align on why and how best to join your businesses, setting a solid foundation for a long-lasting partnership.

Downsizing can significantly affect both operations and culture. This flight will help you and your management team reaffirm your company’s strengths, values, and mission during the downsizing process and what we want to be on day 2. We also want to identify the appropriate support for departing team members.

Before you embark on a joint venture, it is important to evaluate your objectives and potential upside. Without this period of reflection and analysis, it is far too easy to jump into a deal that is far from your initial vision. This flight will help the stakeholders from your company align on company goals for a potential venture, and identify if there is a clear opportunity that only an external partnership can fulfill.