Hi, I am on the drawing board preparing business model for an idea on which I have been working for the past month.
What I want to know is that what questions I need to answer objectively as I take the plunge? I have reached a stage where everything looks attainable: the idea, revenue model, projections, market size but since I am the person with the plan, I cannot be very neutral and blunt.
Dr Saurabh Bhatia
A very smart task that you are asking this question on this forum.
There are people like me who start a biz based on passion and passion alone and then look foolish when investors ask them money questions. I realised that for start up, if you can make a ppt which answers all of an investors questions, then you can start off, too. (just pretend you are making it to make a pitch to investor. you don’t really have to.)
Am attaching a file from IAN guidelines for your help. To my knowledge this file is openly downloadable, hence in public domain. I also have more documents and will be happy to share offline.
My own blog’s Entrepreneurial section may be of some help, too
Ashish Sharma
Thanks a lot, Dr Bhatia. Will surely check out the blog and contact you.
Ramanuj Mukherjee
Are you going to need a co-founder? One or more co-founders? If yes, how will equity be divided?
Are you going to share equity with employees? When would you create an ESOP pool? This would be handy as soon as you start to hire.
How are you going to structure your business? Profit/non-profit/hybrid? Private limited or LLP? Partnership? Which one of these will have least tax, sufficient flexibility and reduce risk for you?