I have been helping entrepreneurs scale their businesses for years. It is super fun, exciting & fascinating to see the tremendous ideas that smart, motivated people dedicate their life and livelihood toward. As part of that process. Throughout the years, I have learned that every entrepreneur is a bit different. There are certainly some common success factors but the goal of a good board member or advisor is to help the entrepreneur achieve their goals (not mine) To that end, we have been circulating this document since 2015. We call it How to Create a Successful Start Up in 2020 and it is designed for us to find out enough about what the entrepreneur wants to accomplish, so we can help she/he on their journey.
If you want our help to scale your business, we will need you to answer these questions
If you fill them out and email them to me at email@example.com I will review and schedule time to review and see how we might be able to help
Solidifying Your Company Goals for First Time Entrepreneurs
Name of Company:
Number of Full Time Employees:
- Are you working on this business full time?
- If not, why not:
- Do you have domain knowledge that would give you a competitive advantage to build this company in this industry?
- Why do you want to start this company?
- What problem are you looking to solve?
- Why do you want to solve this problem now?
- Have you thought through the personal and professional implications of working in a start up?
- What kind of company do you want to build?
- What are the tangible goals of the company over the next 12 -24 months?
- Do you have a co-founder?
- What is her/his role?
- Do you have a concise business plan (3 pages) with the following that would allow us to better understand the structure and future of your business that includes the following?
- Executive Summary
- Overview of the Industry
- The problem that you solve
- The Company – name, location, website
- The Team – all full time employees (or critical contractors)
- The Product – description of the product or service
- Competitive advantage or special sauce or why you will win
- Your sales & marketing strategy
- Manufacturing or delivery strategy
- Business model by month for the next 12 months with # of customers, revenue, cost of goods sold, expenses, profit/loss, employee headcount
- Note: All financial projections should be in a spreadsheet format by month to show MTM gworth
- Have you identified three advisors that you can meet with quarterly that can help you scale the company
- How will you know when you have proven the concept to make your effort an investible company?
- Do you have access to friends & family capital to bridge through the proof of concept or angel round?