S. E. C. U. R. E.  Framework

Start-ups struggle to validate their business ideas and business models in the early stages of their life cycle. Considering the perilous nature of a start-up, evaluation of its business model is considered to be necessary. However, evaluation frameworks for start-ups are under-developed and their ability to evaluate start-up business models comprehensively is under-examined. As result, subjective and narrowly focused measurement criteria are used to evaluate start-ups without adequate research evidence.

 

This smart scale proposes a comprehensive evaluation framework, the measures of which are informed by theory and research. The start-up evaluation calculus using research evidence (SECURE) comprises of measurement criteria from multiple functional domains aimed at measuring all possible start-up success factors. These functional domains include opportunity, marketing, operations, management and finance.

 

The SECURE framework aims to potentially enable educators, investors, policy makers, researchers and entrepreneurs to evaluate start-ups effectively and conclusively using a quantitative rating scale. Further, the SECURE framework provides a set of recommendations for each of the assessed criteria, which will aid in decision making and improve start-up business models. The SECURE framework can be empirically applied in most industries and research settings. 

Disclaimer

The measures and readiness level are for indicative purposes only. It does not guarantee start-up success. Please seek advice from the author in case of doubt. 

© 2019, All rights reserved to Dr Tahseen Arshi (MoC Copyright Number: 3377)