Reign Media’s list of important aspects/elements of a strong business plan
First three stages:
Entrepreneur running with his or her hair on fire taking massive action and making it HAPPEN. Product Market Fit focuses on how your value proposition solves a significant problem for your target market.
Last three stages:
Managerial skills needed to create, implement, and improve on systems for the company, and people in the company.
- Work ON your business not IN your business.
- 3 entrepreneur hats: entrepreneur, manager, technician
- Don’t be a technician suffering from an entrepreneurial seizure
- Continually innovate and improve systems and people.
Before achieving product-market fit, make sure to start with a LEAN BUSINESS MODEL CANVAS. The business plan comes in when you have achieved product-market fit and are beginning to implementing systems in your business in order to work ON the business, not IN the business.
General guidelines when presenting (include everything below)
Build up the argument
Target Market (psychographics, geographics, and demographics)
Segmentation, Targeting, and Positioning
Marketing: CAC and CLV
—- Below is Reign Media’s list of systems you should consider implementing! —-
-Customer Relationship Management (update customer portfolio)
–Sales (how to get and expand market)
–Accounting (looking backward)
–Finance (looking forward)
–Supply Chain (inventory/operation system).