Kent Couch is
crazy like an entrepreneur. He’s the Oregonian who tied 150 helium balloons to
a lawn chair and flew to Idaho. Kent had a dream and a
clear mission statement: “I’m not stopping till I get out of state!”. A balloon lawn chair is the perfect metaphor
for the first stage of a startup company. It starts with a big idea - his volunteer
crew wore “Dream Big” t-shirts - but lacks a plan. His web site boasts that when you ask Kent where he is going, he always says, "I have
no idea." Still Kent turned his dream into a 9-hour flight and landed
safely after 235 miles with the help of his Red Ryder BB gun and a ballast
filled with 15-gallons of cherry KoolAid. He had a fun adventure. Nobody got hurt and -
if he’s really entrepreneurial – his monetization phase and Letterman
guest shot are in the works.
Kent’s balloon lawn
chair got me thinking about planning and roadmaps. For the past two weeks the
topic of our company roadmap kept coming up in conversations with VCs. We already had what I thought was a pretty good product roadmap. The reality is it went from excruciating technical and functional detail for next week’s release to progressively looser definitions. When
we got out into years 4 and 5, I realized that our roadmap was sounding like balloon
lawn chairs: big ideas without enough planning to fly to Idaho. It’s
natural when you’re balancing short term goals with a 5-year plan but it’s still
no excuse. So, yes, we are working on our own roadmap.
Roadmapping is strategic forecasting.
Investors like to see how you think. There is no better way than a roadmap to show clear and logical thinking about how your company will address the market and create or adopt new technology. The roadmap should also guide technical decisions and help build a framework for
your intellectual property. It can even help you plan hiring priorities and potential partnerships. Think of your roadmap as the strategic version of your financial model. Keep it simple and keep it current. It’s OK to dream big about balloon lawn chairs but, without a roadmap, be prepared that investors with their own Red Ryder BB guns will shoot you down!