For start ups

Background  

Relevant background to proposed enterprise, with links as appropriate. Provide an indication of macro-environmental, societal, consumer trends and unmet needs. 

Core value proposition (product/service & benefits) 

What will the enterprise do? What products or services will it deliver and how will these provide value or benefits to customers or members of the community? Remember to distinguish benefits from features. What is compelling about this proposition? 

Market segmentation. Customers and/or beneficiaries 

A segment is a defined group of customers or beneficiaries with similar needs. How does your market segment? What are the specific needs your enterprise will meet? How does this basis of segmentation bring value? What alternative bases of segmentation did you consider and why did you select this one? Who are likely to be your first customers or beneficiaries? 

Differential advantage over competition  

How will your product be positioned within your chosen segments? Who are your direct and indirect competitors? Why is the product, service or resource you are offering superior to that which competitors are offering? Include a differential analysis, which shows the specific advantages your enterprise is offering relative to identified customer or beneficiary needs.  

Business model 

How will your enterprise sustain itself? How will it raise funding required or secure capital for its ongoing operation? Who will pay, and on what basis? How will the enterprise grow? What value will the enterprise bring to founders and (where appropriate) investors. How will the core operation be scalable? What exit, if any, is considered?   

Organisation - who is involved 

Who are the founders and what specific role will they play in driving the enterprise? What is the current and expected future structure of the proposed organisation? Please include the resumes (curriculum vitae) of each member of the founding team as an appendix. 

Resources 

What resources does the enterprise currently have? What resources are needed? Who else is needed for this organisation to be successful? How can physical and human resources be sustained? 

Marketing plan 

What are the routes to securing customers or beneficiaries? What is your communication and promotional strategy? How will you retain customers or supporters? What is your pricing strategy? 

Financial plan 

What are the projected expenditures and costs over the next two years (detailed analysis) and five years? What are the upside, downside and most likely scenarios? What is the arising cash flow and how will any negative cash flow be managed (e.g. founder funds, loans, grants, investment). Based on current projections, what is the value of the enterprise (may be determined by one or more techniques e.g. discounted cash flow; benchmarking; earnings multiple)  

Traction 

What progress has already been made? Has there been test marketing? Have there been early sales from this or a related enterprise? Have customers, beneficiaries, stakeholders been consulted and what feedback has been received? Is there a working prototype or mock-up? Is preliminary marketing collateral (website, investor deck, brochure etc) in place? What evidence and confidence do you have that this enterprise can be successful? 

Sharing of returns across parties  

How will founders be recognised or remunerated, when, and in what proportion? Is this fair? How will employees and other stakeholders be rewarded?  

Agreed next steps for progressing the opportunity 

How will you assess demand for your product, service or resource? How will prototypes and product/service concepts be generated? How will you roll out the business? What are the key steps needed to establish a viable enterprise? Who is responsible for what? Is there a plan? How will you maintain effective communications across distance and time zones, if necessary? 

Assumptions, risks and mitigation 

What assumptions is this enterprise based on? What are the potential risks involved, their likelihood of occurring and the potential impact of the enterprise (consider using a risk matrix)? What actions can be taken to test assumptions or mitigate risk? What major changes in the social or competitive environment could occur? What other potentially disruptive technologies or solutions exist and how can these be managed?