Page 68 - Becom Your Own CEO

Become Your Own CEO
Sample Strategic Plan for a Start Up
IF YOU’RE PLANNING A START UP, ASK YOURSELF THE FOLLOWING
◗ What is your product or service?
◗ Who is the consumer or client for your
product or service?
◗ What differentiates your product or service?
◗ As Simon Sinek says, what’s the “why” for your start up?
◗ Where is the money coming from?
◗ How much money do you need?
◗ What’s your operating budget?
◗ How will you break into the market?
◗ How will you seize market share?
◗ How will you market your product or service?
◗ What are the strengths? Weaknesses? Opportunities? Threats?
◗ Is this a side hustle? If so, what’s your plan to balance your day job with your start up?
◗ How much are you willing to put on the line for your start up?
◗ Where is your start up at year 1? Year 5? Year 10?
◗ How will you expand it? How will you grow it? How will you scale it?
◗ What are you afraid of? How real are these fears? How can you address them?
ONCE YOU HAVE DISCUSSED AND ANSWERED THE QUESTIONS, CREATE A STRATEGIC PLAN WITH THE FOLLOWING
SECTION 07 APPENDIX OF SAMPLE OF STRATEGIC PLANS
◗ Mission Statement
◗ Vision Statement
◗ Values
◗ First Principles
◗ Purpose
◗ Meta Goals
◗ Meta Goals broken down into smaller goals
◗ Action Steps for each goal
◗ Deadlines for completing the action
steps
◗ Budget
◗ Division of labor for action steps
◗ Measuring success of action steps
◗ Evaluating success
◗ Creating accountability
◗ Define process when aspects of action steps or goals fall short of expectations
◗ Create schedule of follow up meetings to measure success and address shortcomings
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