Words Farm

Startup Business Plan

This post is an outline from the Facebook session by The Startup Centre and Vakilsearch. This is a must watch session for all entrepreneurs. Click here to watch the Video

SWOT analysis - Strengths, Weaknesses, Opportunities and Threats

1) Spot the opportunity - a gap between the market expectation and the existing business offerings. Will the opportunity grow over a period of time or shrink due to technology evolvements?

2) What is your differentiation from the existing market offering?

3) Stick with your strengths. Figure out your strengths.

4) Build a MOAT - One click buy button amazon, Patents

5) Build a Team

6) Market Size, Attainable Market Size, economics

7) Prototyping and validation. Validation - People give you scarce resources ( Time, money, attention)

8) Pilot run -  Get 100 customers

9) Unit economics

10) Execution and analysis

Business plans keep evolving and not a static one.

Why you need a business plan :

1) To get a bank loan or

2) To get an investor

Banks are only concerned whether you will make timely loan repayments . Investors expect a big return on their investments. Investors want to go big or go home. When they win, they want to win very very big.
If something is a trade secret, do not put it in your business plan.

This post is just an outline, do watch the full session. Click here to watch the Video.