…Every platform co-op founder’s journey is different. Here is a roadmap to help you find your way.

The Founder Journey

The Founder Journey below is a development tool that offers a simple guide to “Set-up”, ‘Pre-seed’ and ‘Seed’, the critical stages from initially exploring your platform idea to scaling it.

Though your platform journey will probably not be linear, this tool allows you to orientate your platform team and prepare for what comes next.

As you make the journey from early-stage idea to new platform, use this tool as a guide to evaluate and communicate your platform’s progress with your members and investors, and keep your team on track at each stage of development as you launch and grow over the next few years. \

This map is based on the experience of other platform co-op founders. Has your journey been different? Let us know, we’d love to learn more from your experience. 

Set-up

At this stage you’re exploring and setting up your platform co-operative, from identifying the platform’s stakeholders to creating your business plan to launching your first crowdfunding campaign.

Pre-seed

At this stage you’re building and testing your platform co-operative, from prototyping and real user testing to MVP build; from opening up membership to gaining traction in the market and generating a small revenue.

Seed

At this stage you’re growing and scaling your platform co-operative, from a public launch to increasing revenue, and releasing new iterations of your platform to explore what new forms of funding can support rapid growth.

Platform co-ops: Founder journey

Pre-seed – getting started

Exploring

• DEFINE your business idea
• IDENTIFY your platform stakeholders
• DECIDE if a co-op is right for you
• FIND your co-founders
• BUILD a social media presence
• RAISE your first funds ~ £5k

Setting up

• SEED Finding your way
• CREATE your business plan
• SELECT your co-op structure
• ASSEMBLE your board
• REGISTER your co-op
• BUILD a microsite
• LAUNCH a crowdfund ~ £20k
  
  

Seed – finding your way

Testing

• BUILD low cost prototypes
• FIND users to test them
• PLAN your funding runway
• SECURE your core team
• DEFINE your internal processes
• APPLY for grant funding ~ £100k

Building

• BUILD a Minimum Viable Product
• OPEN UP to new members
• START generating a small revenue
• ASSIGN clear roles in the business
• GROW your profile
• LAUNCH an equity crowdfund ~ £300k

Series A – taking shape

Growing

• LAUNCH your platform
• REVISIT your business plan
• ACQUIRE new members
• INCREASE revenue
• HIRE new staff
• RUN another equity crowdfund ~ £500k

Scaling

• EVALUATE risks and rewards of scaling
• RELEASE new iterations of your platform
• DEVELOP new member acquisition strategies
• DIVERSIFY revenue streams
• IMPROVE internal processes
• EXPLORE new funding options ~ £1M

SOURCE: UnFound Cooperative UL