On this page you are expected to write a narrative on the step by step start-up of your company. What do you need to do before you start. What will you do first when you start. What will you do in the first year, what will you do to break even, what will you do to expand your company and what will you do to exit your company or transfer ownership etc. The narrative should cover at least a five year period.
In each step of the process you need to achieve goals, i.e. capture partnerships, haul customers, bind employees, purchase goods, receive orders, ship products, send invoices etc. so formulate goals for each step (SMART), quantify resources needed for each step (money, people, knowledge, agreements and permissions), formulate the risks involved in each step and the contingencies you have for the risks and last but not least state the total expected expenditures and revenues for that period.
For your expenditures you should stipulate whether the are investments, costs of goods to be sold or, marketing expenses or overheads.
All figures in the financial statements should find their origin in this narrative.
5: Execute >