EntrepreneursMany of the blog readers are entrepreneurs or plan to start a business of their own sometime soon. Here’s a reference document that I keep handy for planning a new business venture.

It lists 10 main things to plan out before you actually start operations. Here you go:

1. Vision for the product / service

a. What is our market? Who do we cater to? How do we define the ideal target audience?

b. How / Where do we want to see this platform in the long run?

c. What are the short-term goals? (3 months to 6 months)

d. What are the mid-term goals? (6 months to 1 year)

e. What are the long term goals (1 year to 3 years)

f. SWOT analysis

g. Direct competitors and Close competitors (Domestic and International)

h. Possible revenue models

i. What is the mission and vision of the business?

2. Marketing (pre-launch, launch and ongoing traditional and digital marketing)

a. B2B marketing

i. Classification of target market segments

ii. Strategy to target these segments

iii. Marketing operations

iv. Marketing material requirements

b. B2C Marketing

i. Segmentation

ii. Marketing Strategy

iii. Marketing operations

iv. Marketing material requirements

3. Operations

a. How to manage day-to-day ops

b. Supply chain management

c. Logistics management

4. Finance

a. Short Term financial requirements

b. Long term requirements

c. Expenditures

d. Accounting & taxation

e. How to we make revenue

f. How to manage capex & opex

5. Product Management

a. Initial market feedback and changes

b. Future products

c. Our R&D process

7. Name & Branding

a. Product Name

b. Company name

c. Branding – colors, logo, tagline

8. HR

a. Organization Structure

b. What is our HR requirement?

c. What are the different teams required?

d. How to manage these teams – their output, quality, responsibilities

f. What are the tools/training requirements of these

9. Technology

a. How to we manage system dev/quality in short term and long

b. System enhancement and improvements

c. Project Management

d. Website

10. Legal

a. Terms of use

b. Privacy policies

c. End user agreement

d. B2B agreements

This can be modified based on your business focus and category though I hope it serves as a good starting point. Feel free to connect with me for more inputs when starting your own business and I would love to help!