The Startup Guide - Create A Business Plan

Startup
Guide
2013 Edition
The
SHARE FREELY
Building a Better World Through Entrepreneurship
RYAN ALLIS With Ellen Daly

CEO of Connect.com
More slides at www.startupguide.com
ENTREPRENEURSHIP
Create A plan
STARTUPGUIDE.COM 440
ABOUT THIS PRESENTATION
THIS presentation IS PART OF A LARGER slide DECK on building a better world through entrepreneurship
For more slides & CONTENT visit:
Startupguide.com
cREATE A PLAN SHOULD YOU CREATE A PLAN BEFORE A PROTOTYPE?
SOME ENTREPRENEURS choose not to create a plan at all And just start working
On a prototype or Minimum viable product

cREATE A PLAN WHY A LITTLE BIT OF PLANNING IS HELPFUL
I find that its helpful to at least create a short slide deck or exec summary To ensure you know what youre building & What problem youre Solving before you start building
cREATE A PLAN YOUR COMPANY PITCHDECK Many Business PLANS ARE created as sLIDE DECKS WHICH INCLUDE:
1.TEAM 2.PROBLEM 3.PRODUCT & TECHNOLOGY 4.MARKET & COMPETITION 5.revenue model 6.FINANCIAL PROJECTIONS
cREATE A PLAN the problem
In your plan, CLEARLY ILLUSTRATE THE PROBLEM YOU ARE SOLVING HOW YOU ARE SOLVING IT
AND FOR WHOM

cREATE A PLAN the product
SHOW PICTURES OF A PROTOTYPE OR WIREFRAMES & MOCKUPS And MAKE YOUR SPECIFIC SOLUTION
EASILY VISUALIZED
cREATE A PLAN the product
SHARE YOUR PRODUCTION TIMELINE AND KEY MILESTONES TOWARD INITIAL PRODUCT DELIVERY AND DISCUSS FUTURE PRODUCTS AND SERVICES
cREATE A PLAN the market
ADDRESS THE FOLLOWING ABOUT YOUR MARKET
SUPPLIERS BARRIERS TO ENTRY INTELLECTUAL PROPERTY MARKET SIZE MARKET TIMING DIRECT COMPETITORS POTENTIAL PARTNERS
cREATE A PLAN revenue model
ADDRESS THE FOLLOWING IN YOUR REVENUE SECTION
B2B or B2c DISTRIBUTION CHANNELS WHOLESALE VS. RETAIL REVENUE ONE TIME VS. SUBSCRIPTION REVENUE USER & CUSTOMER GROWTH ASSUMPTIONS UNIT COSTS AT SCALE UNIT REVENUE AT SCALE
cREATE A PLAN Financials SECTION
ADDRESS THE FOLLOWING IN YOUR FINANCIAL PROJECTIONS REVENUE ASSUMPTIONS COST ASSUMPTIONS Revenue by Month COST BY MONTH BY CATEGORY NET INCOME BY MONTH BY CATEGORY TIME TO BREAKEVEN FUNDS NEEDED TO REACH NEXT MILESTONE TOTAL EXPECTED FUNDS NEEDED
cREATE A PLAN Financials PROJECTIONS
EXAMPLE 60 Month PRO FORMA P&L PROJECTIONS

$1,500,000 $1,000,000 $500,000 $0 ($500,000) ($1,000,000) ($1,500,000) ($2,000,000) ($2,500,000) 0 6 12 18 24 30 36 42 48 54 60
MONTHLY breakeven Aggregate breakeven
Revenue
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Expenses
Aggregate Net Income

451
cREATE A PLAN Financials PROJECTIONS
Heres a REALLY BASIC Example financial PROJECTION

Revenue% Expenses% Net%Prot% 2015% 18,127% 103,408% <85,281% 2016% 50,984% 118,539% <67,555% 2017% 143,401% 139,017% 4,384% 2018% 403,340% 287,553% 115,787% 2019% 1,134,461% 640,004% 494,457%
your financial projections Should list out expenses by major categories (Labor, Marketing, Servers, OFFICE SPACE, etc.)
cREATE A PLAN SLIDE DECK checklist
MAKE SURE YOUR DECK ANSWERS ALL THESE QUESTIONS ! Whos on your team? ! What is their background? ! WHAT IS THE NEED FOR THE PRODUCT? ! HOW WILL THE PRODUCT BE PRICED? ! WHAT IS THE SIZE OF THE MARKET? ! IS THE MARKET READY FOR THE PRoDUCT? ! WHAT WILL IT COST TO PRODUCE THE PRODUCT? ! WHAT IS THE TOTAL START-up COST?
cREATE A PLAN SLIDE DECK checklist
MAKE SURE YOUR DECK ANSWERS ALL THESE QUESTIONS ! HOW MUCH IS NEEDED TO REACH BREAKEVEN? ! WILL YOU NEED TO ACQUIRE ANY IP? ! WHO IS YOUR TARGET CUSTOMER? ! WHAT ROLES WILL YOU FILL IN THE FUTURE? ! WHAT ARE YOUR FUTURE PRODUCTS? ! WHAT ARE YOUR ANNUAL Revenue PROJECTIONS? ! WHAT ARE YOUR ANNUAL COST PROJECTIONS? ! WHAT ARE YOUR ANNUAL PROFIT PROJECTIONS?
cREATE A PLAN incorporate
NOW THAT YOU HAVE YOUR PLAN Its time to become official
AND INCORPORATE
THE BENEFITS OF INCORPORATING

MUCH LOWER TAXES (only pay taxes on profit) LIABILITY PROTECTION BEING TAKEN SERIOUSLY ABILITY TO OPEN A BANK ACCOUNT ABILITY TO HIRE EMPLOYEES ABILITY TO RAISE INVESTMENT ABILITY TO GAIN CORPORATE CREDIT
TO INCORPORATE YOURSELF YOU JUST NEED TO KNOW

THE NAME OF THE COMPANy THE STATE YOU WISH TO INCORPORATE IN
THE NUMBER OF SHARES TO CREATE

THE INITIAL OWNERSHIP OF THOSE SHARES
YOU CAN INCORPORATE VIA

LEGALZOOM.com INCORPORATE.COm OR VIA ANY CORPORATE LAW FIRM
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458
IN THE U.S. you can start a

S Corp C Corp LLC BENEFIT CORP
STARTUPGUIDE.COM
Most firms that plan on raising capital are Delaware C Corporations
459
IN CHOOSING A LAW FIRM LOOK AT

REPUTATION & REFERENCES START-up EXPERIENCE INTRODUCTION TO INVESTORS IPO EXPERIENCE PARTNER CHEMISTRY
ONCE INCORPORATED YOUll RECEIVE YOUR

ARTICLES OF INCORPORATION SET OF BYLAWS SET OF STOCK CERTIFICATES
THEN if in the U.S. YOU CAN GET AN EMPLOYER IDENTIFICATION NUMBER FROM THE IRS (YIPEE!) AND OPEN A BANK ACCOUNT
cREATE A PLAN What matters is execution
Dont spend too long on planning. BUSINESS IDEAS ARE A DIME A DOZEN WHAT REALLY MATTERS IS THE OPERATIONAL EXECUTION AND THE QUALITY OF the team.
Startup Guide
2013 Edition
The
SHARE FREELY
Building a Better World Through Entrepreneurship
RYAN ALLIS With Ellen Daly

CEO of Connect.com
More slides at www.startupguide.com

The Startup Guide - Create A Business Plan

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What is the purpose of creating a business plan?

What is the purpose of creating a business plan?

What are the benefits of incorporating a business?

What are the benefits of incorporating a business?

Startup

Building a Better World Through Entrepreneurship

RYAN ALLIS With Ellen Daly

ABOUT THIS PRESENTATION

For more slides & CONTENT visit:

cREATE A PLAN SHOULD YOU CREATE A PLAN BEFORE A PROTOTYPE?

On a prototype or Minimum viable product

cREATE A PLAN WHY A LITTLE BIT OF PLANNING IS HELPFUL

cREATE A PLAN the problem

AND FOR WHOM

cREATE A PLAN the product

cREATE A PLAN the product

cREATE A PLAN the market

ADDRESS THE FOLLOWING ABOUT YOUR MARKET

cREATE A PLAN revenue model

ADDRESS THE FOLLOWING IN YOUR REVENUE SECTION

cREATE A PLAN Financials SECTION

cREATE A PLAN Financials PROJECTIONS

EXAMPLE 60 Month PRO FORMA P&L PROJECTIONS

Aggregate Net Income

cREATE A PLAN Financials PROJECTIONS

Heres a REALLY BASIC Example financial PROJECTION

cREATE A PLAN SLIDE DECK checklist

cREATE A PLAN SLIDE DECK checklist

cREATE A PLAN incorporate

cREATE A PLAN incorporate

THE BENEFITS OF INCORPORATING

cREATE A PLAN incorporate

TO INCORPORATE YOURSELF YOU JUST NEED TO KNOW

THE NUMBER OF SHARES TO CREATE

cREATE A PLAN incorporate

YOU CAN INCORPORATE VIA

cREATE A PLAN incorporate

IN THE U.S. you can start a

Most firms that plan on raising capital are Delaware C Corporations

cREATE A PLAN incorporate

IN CHOOSING A LAW FIRM LOOK AT

cREATE A PLAN incorporate

ONCE INCORPORATED YOUll RECEIVE YOUR

cREATE A PLAN incorporate

cREATE A PLAN What matters is execution

Building a Better World Through Entrepreneurship

RYAN ALLIS With Ellen Daly

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