Rocket your Startup with Superior Business Documentation

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Preparing Business Documents

Courtesy of the State of Montana

Let's continue our Startup 2.0™ Steps to “Rocket your Ready-to-Launch Startup,” from the Preliminaries to Phase I, Step 1:  Analyze, Upgrade or Prepare your Business Documentation, in formats such as our Overview format, which references our Business Plan format:

 State a succinct Mission

• Problem that needs solving
• Solution – unique and powerful.
• Purpose – providing a universal benefit

 Define your Market

• Demographics – type, revenue, workers, expense percentage, stage, growth rate, where you can make a difference
• Size – number or $$
• Penetration – percentage or $$
• Use library and paid Market Databases

 Show off your Management Team – what the Founders become:

• Members – 3-5
• Total experience – at least 125 years
• The Best Fit for each Founder – not every Founder is a CEO
• Deepen your Bench with Candidates for the Mgt Team:  Board of Directors; Board of Advisors; few meetings – call/email 1-4 hrs/mo; small equity = $30k-$60k+ in years 3-5; show off those resumes!

 Clearly outline the Money – your Financial projections:

• Detailed, reasonable Expenses – indicates your business knowledge and includes capitalization
• Realistic Income
• Net Income
• 1st 12 months
• Next 4 quarters
• Next 3 years – longer if needed for decent ROI
• Reviewed by qualified Accounting Advisor (generally a CPA)
• Be careful disseminating too much information so it doesn’t become an illegal “public offering” of an investment

 Establish written Agreements with:

• Team Members – duties; compensation; exit contingencies; other negotiated
• Early Investors – shows interest
• Vendors – shows reality
• Potential Customers – LOIs, MOUs or Purchase Orders

 Write robust Plans:

• Full Business Plan, such as our suggested format
• Marketing, such as our GOgitMMM™ Power Internet Marketing system
• Sales
• Operations
• Growth
• List all possible – detail at least one in each category

More to come on the Startup 2.0™ Steps. 

Feedback and suggestions are always appreciated here, by message or email.

Thank you very much, Kenton, USA 302KentonJ
LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup (Denver, 4pm Mondays:  main, 1st; work session, 3rd)