Starting the company
~2 m
Week #1 Startup Mode
You have the chance to pitch your wonderful idea to the benevolent investor Mr MXF. I want to hear:
- what is your big idea?
- who are your customers?
- how many customers do you think there are?
- how will you tell them about your product?
- how much will they pay for you product?
- how will they stumble upon your greatness?
- What is the total market (global, per year) for your product?
- What is the addressable market (i.e. the market you can reach)?
- What (virtual) money do you need to get started?
- What (virtual) monay have you already raised?
- What are you going to spend the (virtual) money on?
For the rest of week 1, you’ve got a few homework items:
- create a Google sheet & share it with the team & Mr MXF
- Worksheet 1 is the overview of all the bullet points above - laid out so they are clear
- Worksheet 2 is the (virtual) staff costs - log of how much time & money your staff have spent in the first 2 (virtual) months?
- Worksheet 3 is the (virtual) income & expenditure for the first 2 (virtual) months. What did you buy, what did you sell, what is still in production?
- The last Worksheet is your asset & inventory register - what do you own & what have you made.
Do your best to jot down your ideas and we will review next week!