How To Create A Lean Start - Up Business
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How to Create a Lean Start-Up Business Plan Lean start-up is a set of ideas that started about 70 years ago, in the manufacturing sector. It’s a process of continuing improvement in steps or cycles each one involving a lean business plan, action, checking results, and further revising the plan. The term lean applies perfectly to business planning. We write a business plan in this class but it’s more of a process than a business plan as a document. For instance, the lean business plan contains only four essentials every business needs. It’s a streamlined core plan for running the business and getting capital, it’s not a wordy, detailed essay filled with graphs and charts. Its idea is to optimize management. As a start-up, you want a plan, no matter what business you are in, but that doesn’t mean you must have a full-blown, formal business plan with all the supporting information. The core of your lean plan includes these four segments: STRATGY: What is your business, who are you, what does the business do, what is your market, how do you reach that market, what is your strategy for achieving what you do? Strategy is a focus on what you are doing correctly, how you are doing it, and what you are not doing. TACTICS: Strategy works only with tactics. Keep your strategy in mind — your focus, what you are and aren’t doing, for whom — as you develop specific action plans filled with tactics that make strategy work. This is all about execution of marketing tactics, products and services, and funding and finance. ESSENTIAL NUMBERS: Forecasts, Sales, Costs, Expenses and Cash Flow. This is all about forecasting and managing the money and primarily focuses on a Profit & Loss Projection. EXECUTION: Assumptions, Milestones, Metrics and Reporting. This is all about dates, deadlines, specific task assignments, who is doing what and to what extent they are successful doing it. The steps above to form your lean business plan are most of what you need. Now we add the executive summary, some market information and you are done. If you feel very comfortable about knowing your market, and you have a strategy, the lean start-up business is perfect for you.
Speaker(s): Robert Rehder
Fee: No Cost