Do you have a great idea for a start-up business, but don't know where to begin? This guide shows you step by step how to create a clear vision for your company, and an action plan for turning that vision into reality by implementing scalable processes.
Professor Hans - "Fundable Event Timeline"
Gantt Chart and Milestones
Consider your Gantt chart of 20 activities that must be done.
Milestones mark the completion of each activity, but not all milestones prove that you are right.
Looking at your timeline of activities as you mark off the milestones determine which of the milestones are actual evidence that you are right.
For example, a milestone might be that you did research on the best accounting system. You identified a few, then selected and installed one of the accounting systems and started using it.
Let's say it took two weeks, you hired an accountant to do it and it cost you 500 bucks.
This is a very important thing for you to do, but does it prove that your business is viable?
No, it is an indication that you are taking your accounting needs seriously which is very good, but it does not increase the value of your company significantly or prove to an investor that your company is more valuable, or that your product or service works and people will pay money for it.
Think back to the beam of light interplanetary transporter thingy.
One of your activities might be to finish engineering on the teleporter from anywhere to anywhere on planet earth. And you successfully move a living thing from one room into the next room with the beam of light without killing the thing that you have transported.
This is a big step in the right direction and could be considered a value-enhancing event that shows that you are on the right track.
This is more than a milestone my friends. It is a fundable event, so to create a fundable event timeline take your timeline of 20 activities and do three things;
Identify the milestones;
Identify which milestones prove that you are right, meaning the product works customers are giving you money for it, and so on; and
put your cash flow directly below the fundable event timeline.
Make certain that the time frame of the cash flow matches the time frame of the fundable event timeline.
Line up the months quarters and years, make sure that the cash flow numbers are consistent with the costs of the activities that you've articulated on the timeline.
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Use this section to explain to potential students the value of your offering. Great copy shows your audience how their life might look after working with you. Start by identifying the problem you're solving. Next, present how their life will be different with the solution you’re providing. Finally, explain why you’re uniquely positioned to provide this solution.