Insight: Back-of-the-Envelope Business Plan

by Oct 13, 2019Blog0 comments

Forward Attitude

Back-of-the-Envelope Business Plan

Write your story in 2 paragraphs

Write your story in 2 paragraphs that cover that 5 W’s (who, what, when, where, why). Then ask yourself, would this blogger believe your story?

Your Product and Customer’s Need
State your product value to the customer from the perspective of your customer.
Your Market and How You are Reaching Customers
How do you know you have customers outside your friends and family?
How do customers know you are alive?
Operations and Tasks need to be done
Where are you going to work? Equipment needed? Services needed (i.e. internet)?
When does “stuff” need to be completed?
What events (i.e. trade-shows) or customers are setting the task-list?
Finances
Expenses
One-time start-up costs are ______ (make a list of things that cost money)
Monthly costs are _____________ (don’t forget to pay yourself)
Yearly costs are _______ (at least include the annual state business license fee)

Revenue
One-time income is __________ (money you put in, grants, and other investments)
Monthly income is ___________ (revenue = #_of_units * price_per_unit)

By this date ________ my profit will be _____ (Profit = Revenue – Expenses)
note that profit needs to be a positive number for long term success.
My Team and Team Qualifications
What personal skills and determination can be used for business success?