How To Write Business plan for START-UP
IDEAS HOW TO PREPARE A SHORT BUSINESS PLAN FOR A NEW STARTUP___
Product
What product/service (“product” further) you are going to sell?
Customers
Now its time to decide who will be your customer after you decide the product. Though this is the most difficult task; it is possible to achieve success.
If it is done strategically it is just a chain of the easy task which seems to be the difficult ones in the compiled form. This can be broken to the small parts of 4 classes
1 the customers who have enough capital to buy the product but they don't need it.
2 the customers who don't have enough capital to buy the product as well as they don't need it.
3 the customers who have enough capital to buy the product at the same they want it.
4 the customers who have enough capital to buy the product as well they want it.
Here you have to skip steps 1 and 2 and converge your focus on the 3rd and the fourth.
Budget:
The backbone of the startup
One of the most important steps to step towards success is to create a budget for the startup, such that you can see the expected income and expenses needed to grow into the next level company.
Running out of cash is one of the most common reasons why startup companies fail. Taking the time to sort your budget out before you launch will minimize that risk.
Here is an example of how should your budget look like
1 REGISTRATION 7000INR
2 WEBSITE 50,000INR
3 LEGAL 10,000INR
4 TRAVEL 5OOOINR
5 RENT 30,000INR
6 OTHERS 50,000 INR
Thus, your startup launching price will fluctuate within 3lakhs to 10 lakhs.
Product
What product/service (“product” further) you are going to sell?
1. what problem are you going to solve for your client?
2. how are you going to solve this problem?
3. What is the value proposition of your product?
4. Which product features will be the differentiation points?
5. Which product features will be sacrificed compared to those of competitors?
Customers
Now its time to decide who will be your customer after you decide the product. Though this is the most difficult task; it is possible to achieve success.
If it is done strategically it is just a chain of the easy task which seems to be the difficult ones in the compiled form. This can be broken to the small parts of 4 classes
1 the customers who have enough capital to buy the product but they don't need it.
2 the customers who don't have enough capital to buy the product as well as they don't need it.
3 the customers who have enough capital to buy the product at the same they want it.
4 the customers who have enough capital to buy the product as well they want it.
Here you have to skip steps 1 and 2 and converge your focus on the 3rd and the fourth.
Budget:
The backbone of the startup
One of the most important steps to step towards success is to create a budget for the startup, such that you can see the expected income and expenses needed to grow into the next level company.
Running out of cash is one of the most common reasons why startup companies fail. Taking the time to sort your budget out before you launch will minimize that risk.
Here is an example of how should your budget look like
1 REGISTRATION 7000INR
2 WEBSITE 50,000INR
3 LEGAL 10,000INR
4 TRAVEL 5OOOINR
5 RENT 30,000INR
6 OTHERS 50,000 INR
Thus, your startup launching price will fluctuate within 3lakhs to 10 lakhs.
Analyze your competition:
When you’re writing a business plan, your startup doesn’t exist yet. Nobody knows about you. Don’t expect to be successful if you’re planning to launch a competitor’s carbon copy.
Customers won’t have a reason to switch to your brand if it’s the same as the company they already know and trust.
Sharply define power:
Your business plan should also cover the organizational structure of your startup. If it’s a small company with just you and maybe one or two business partners, this should be easy.
But depending on how you’re planning to scale the company, it’s best to get this sorted out sooner rather than later.
It’s really important to have this hierarchy in place before you get started. That way, there’s no debate over who reports to which position. It’s clear who is in charge of specific people and departments.
Don’t get too complex with this.
If you put too many layers of managers, directors, and supervisors between the top of the chart and the bottom of the chart, things can get confusing.
You don’t want any instructions or assignments to get lost in translation between levels. You also don’t want anyone to be confused about who is in charge.
This is an opportunity for you to outline how your company will operate in terms of board members and investors. Who has the final say in decisions?
While I understand you may need to give up some equity in your startup to get off the ground, I recommend keeping the power in your hands
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