#5 Things to always consider in Business Plan of your Startup

#1 Technical Expertise

Startups are backed by a concept belonging to particular discipline, eg. social, science, fintech, technology, knowledge processing (KPO), etc. Business plans are prepared to present a glimpse of expected footsteps the promoters undertake before investors.

They should ensure that the plans they want to walk upon is always guided by a professional of the particular field. Hence the plan should always have room to bring in adequate talent in the form of employees, directors, managers, etc.

#2 Time based Goal Orientation

The startups success is always a matter of future, hence future should be carefully targeted. Overambitiois targets, and underestimated accumen are both harmful to cash-flows of the firm/organisation/entity.

A Gantt chart may be useful to assign task based timelines and track them accordingly.

#3 Financial Projections are evaluated by experts

Financial projections form the basis of opinions of the investors. These projections if not carefully cross checked, will certainly be a roadblock to the seed-funding ambitions.

Financial projections are based on a lot of parameters, they take init effect,

Market Research Report

Industry Analysis

Technology Advancements/Obsolete

Methods of projecting cash-flows

Technical Feasibility,

The startup team should make sure, their expert is using all above parameters to form an informed projections.

#4 Market Research Report

MRR, forms the basis of cashinflows and estimated sales the startup concept would be getting. Expertise of the market researchers should be carefully checked. It will ensures proper target marketing relevant to the geography, and demography to the products/services.

There are many premier firms eg. Big 4s which may provide a clearer picture of the market possibilities ahead and may also consult in sequence of countries for expansion of projects.

#5 Reasonable Valuations

There have been instances where valuations of the startups were done by the merchant bankers on the higher side, to provide benefits of easier funding and lower government taxation on premium earned.

Such startups and valuation agents finally landed up answering to the tax and money laundering authorities of their respective countries.

Thus overvaluation bring unsolicited attention of government authorities, while undervaluation may keep you short of actual funding capabilities.

Valuations should always fall within the bracket of confidence level.

Get your maiden Startup website hosted easily at WordPress.com.

Read more: