{“main-title”:{“component”:”hc_title”,”id”:”main-title”,”subtitle”:””,”title_content”:{“component”:”hc_title_empty”,”id”:”title-empty”},”title”:”How to Build a Startup Plan”},”section_5ZtkF”:{“component”:”hc_section”,”id”:”section_5ZtkF”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”box_middle”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”section_content”:[{“component”:”hc_column”,”id”:”column_vtfQF”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:”padding-top: 50px; padding-bottom: 30px; color: #FFF;”,”main_content”:[{“component”:”hc_title_tag”,”id”:”AdVEB”,”css_classes”:”text-center “,”custom_css_classes”:””,”custom_css_styles”:””,”text”:”How to Build a Startup Plan”,”tag”:”h1″},{“component”:”hc_niche_content_box_testimonials”,”id”:”rPEwK”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”image”:”https://smartconcil.com/wp-content/uploads/2019/05/ryan-1.jpg|128|128|895″,”title”:”By Ryan Allis”,”box_style”:”style_1″,”subtitle”:”Chairman of Connect and Hive, co-founder and ex-CEO of iContact”,”text”:””}]}],”section_settings”:{“component”:”hc_section_image”,”id”:”section-image”,”image”:”https://smartconcil.com/wp-content/uploads/2019/05/bgNoticia4-1-1800×1193.jpg|1272|1920|896″,”full_screen”:false,”full_screen_height”:””,”parallax”:false,”bleed”:””,”ken_burn”:””,”bg_pos”:””,”overlay”:”transparent-dark”}},”section_start”:{“component”:”hc_section”,”id”:”section_start”,”section_width”:””,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”vertical_row”:””,”box_middle”:””,”css_classes”:”no-paddings text-justify “,”custom_css_classes”:””,”custom_css_styles”:”margin-top: 30px; margin-bottom: 30px;”,”section_content”:[{“component”:”hc_column”,”id”:”8YOwA”,”column_width”:”col-md-12″,”animation”:””,”animation_time”:””,”timeline_animation”:””,”timeline_delay”:””,”timeline_order”:””,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”main_content”:[{“component”:”hc_wp_editor”,”id”:”Fk7Fy”,”css_classes”:””,”custom_css_classes”:””,”custom_css_styles”:””,”editor_content”:”Business ideas really are a dime a dozen. There’s nothing that special about most ideas. What really matters is the operational execution, the ability to actually make it happen, and the quality of the team of people involved.\n\nWhen you hear the term business plan, you might visualize a 40 page document, full of dense paragraphs, charts, and diagrams. Today, in fact, most business plans are not such in-depth documents. Business plans today often to come in the form of slide decks or shorter 10 page executive summaries.\n\nToo many people get stuck in analysis paralysis and will spend 6 months building a business plan before they even get started. It’s much better to just start testing a number of things before you spend much time on a plan.\n\nYou’re better off incorporating, printing up some business cards, getting a website going, and starting to work on creating a prototype for a minimum viable product (or MVP).\n\nThat said, when you’re ready to scale your idea or raise funding, you’ll need at least a basic pitch deck and financial plan. Going through a lightweight planning process before you start building like the one described in this section is usually worthwhile for making sure your startup doesn’t run out of money before you get your product launched and to cash flow positive.\n\nBusiness plans usually have sections on the team, the problem your business is trying to solve, how you plan to address that problem, the market and competition, how you plan to make money; and financial projections (called a pro forma or advanced projection) for the next 3-5 years.\n\nThe Sections of Your Plan\n\n1. The Team.\n\nWhen you write the section on your team, you should highlight not only the people who are involved in the day-to-day running of the company, but also the advisors and the mentors around the team. People are everything in a business. Most good investors would tell you that they’d rather invest in an A team with a B business idea than an A business idea with a B team.\n\n2. The Problem.\n\nDescribe the problem you’re trying to solve and show evidence of the demand for this solution.It’s important to clearly illustrate that you understand what the problem is, you have a clear plan to go about solving it, and you know for whom you are solving this problem. Demonstrating that you know your target market is critical.\n\n3. The Product.\n\nThis is where a lot of entrepreneurs get stuck. They’ll talk about a product that might exist someday in the future, but they don’t have anything to show. If you can go to an investor with a prototype that makes it easily visualized—even if it’s just wireframes, mockups, or a 3-D printed version of your future product—you will get much further with those investors. In the product section, you also want to share your timeline for product creation and any key milestones that may be coming up toward initial product delivery, as well as discuss future products that might be applicable to the target market and services you can provide as an add-on or up-sell to increase your average revenue per customer.\n\n4. The Market.\n\nIn the section on market, you need to be able to talk about your suppliers and how you’re going to source the parts or components that are necessary to create your digital or tangible product. You should include information on the challenges that you’ll face in getting there and the barriers to entry within that market, whether it be capital or knowledge. You should also be able to talk about the relative intellectual property field and what patents are out there within your sector. Seek out some analyst reports to approximate market size, and discuss what stage your market has reached in its evolution. Is this a 10-year-old market, a 1-year-old market, or a 100-year-old market? How will you end up beating your competitors? Who are those competitors, and who are potential partners—companies that you might be able to work together with to advance the solution you’re trying to bring to the world?\n\n5. Your Financial Model.\n\nThis section is about how you’re going to make money. A lot of companies in California struggle with figuring out their revenue model. There’s a sense that if you build it and get users, you’ll be able to raise money. And if you can raise money, you can scale and then figure out the revenue model later. That’s fine, but I find that being able to understand the revenue model (at least the intentional revenue model) before you begin raising and spending millions of dollars building out the company is worthwhile.\n\n \n\nRead original note“}]}],”section_settings”:””},”scripts”:{},”css”:{“content_box”:”css/content-box.css”},”css_page”:””,”template_setting”:{“settings”:{“id”:”settings”}},”template_setting_top”:{},”page_setting”:{“settings”:[“lock-mode-off”]},”post_type_setting”:{“settings”:{“image”:”https://smartconcil.com/wp-content/uploads/2019/05/bgNoticia4-1-1800×1193.jpg|1272|1920|896″,”excerpt”:””,”extra_1″:””,”extra_2″:””,”icon”:{“icon”:””,”icon_style”:””,”icon_image”:””}}}}