Chapter Seven - the right business plan and fundamentals
by marufjony · 16 things on Twos
- We need an achievable business plan with clear financials
- Charts a clear path to profitability
- Be prepared to answer every question potential investors will ask of our company
- Can a founder articulate how we are going to make money and receive a return on our investment
- The elements of a business plan
- Remember to write your business plan with our target market in mind
- Market differentiation
- Path to profitability
- Amount of investment needed
- How investors will receive a significant return
- Any business plan is educated guesses that needs to be revisited regularly
- Part of setting regular goals as we learn more about our customers
- A good plan is one that you are constantly adjusting
- Business plans should be outdated as soon as they are committed to paper
- Three things the founder of any startup needs to know
- 4:53:45 - all about financials