The Secrets Every Startup Needs to Know
Startups need to know the ins and outs of their business. Are you able to answer these key questions:
– Why should investors invest in you?
– You need to articulate what you are doing? and why are you doing it?
– In order to get investors, you need to be the expert and know your numbers.
Give your investor and customer what they need:
1.) Educate: Need to know the process details, costs, risks, formulas, recipes, documentation, quality
2.) Reduce: Reduce confusion over conflicting information form vendors
3.) Clarify: Clarify recommendations from consultants
4.) Cost: obtain highest value at lowest cost
5.) Quality: Have equipment produce the highest quality and flexible oil options
6.) Compliance: Help navigating compliancy
7.) Experience: Need someone with experience to put it all together
Keep the company management and ownership small.
Know your 3 year picture of where you want the company to go. Fill out the Entrepreneurial Operating System (EOS) to get the bigger picture.
Link to the Company EOS Guide:
https://unitedscience.outgrow.us/company-eos-download
Time Stamps:
00:00 – Introduction to startup business planning
01:57 – Begin with the end in mind
04:48 – Keep it small: Advice on ownership and structure
07:02 – Educate yourself: Importance of understanding the process
07:21 – Resources available for learning
08:00 – Reduce confusion: Dealing with conflicting information
09:04 – Meet customer needs: Understanding and addressing market demands
11:26 – What all companies struggle with
11:46 – Define your core values
14:14 – What’s your niche?
15:36 – Have a vision for the future
16:55 – What is your market strategy?
18:45 – Why do we win? Understanding your competitive advantage
21:42 – What’s the bigger picture? The three-year plan
22:48 – Introduction to the Entrepreneurial Operating System (EOS)
23:29 – What is your company’s pledge?
24:15 – Market approach: Understanding TAM, SAM, and PAM
24:51 – What is your product available market?
25:36 – Process, Process, Process: Importance of continuous improvement
26:31 – Define the big rocks: Key long-term projects and goals
28:45 – Recap and importance of focus in startup strategy
30:02 – Call for feedback and future plans
