How to create and present a strategy for your start up

Worth Consulting, LLC

Steven WorthWorth Consulting, LLC

Learning Points

1. Concept Stage2. The Nitty-Gritty3. Reality Check #14. Reality Check #2

The concept stage—determining comparative market advantage

What is your idea/product/service? What market(s) do you intend to serve? What want or need do you address? What is the competition, and what are your

comparative advantages and/or disadvantages?

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The concept stage—continued

What are or would be your costs—start-up versus on-going?

What is or would be the best fair market price—how long will it take to become profitable given your costs?

The nitty-gritty

Develop your business plan starting with a SWOT analysis using the most in-depth quantitative and qualitative market research possible.

SWOT Analysis

Quantitative vs. Qualitative Research

What is Quantitative Research?– Online Surveys

What is Qualitative Research?– One-on-one interviews– Focus Groups– Benchmarking

The nitty-gritty (continued)

Define your:– Vision– Mission– Values– Goals– Strategic Objectives– Tactics

Structure of a Typical Strategic Planning Process

Tactic

Tactic

Tactic

Str. Objective

Tactic

Tactic

Str. Objective

Tactic

Tactic

Str. Objective

Goal

Tactic

Str. Objective

Tactic

Tactic

Tactic

Str. Objective

Goal

Tactic

Tactic

Str. Objective

Goal

Principles

M ission Statement

Visioning

SWOT

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The nitty-gritty (continued)

Create a rock-solid budget– Start-up vs. On-going Costs– Anticipated Revenues– Anticipated Profits and Losses

Reality check one

Define success—where do you want to be in six months, one year….five years?

Define failure—when do you “pull the plug?”

Reality check two

Elevator speech—in one sentence, define your start-up.