Using the lean startup plan or traditional startup plan How you will spend your $1000.00 (every...

Using the lean startup plan or traditional startup plan

How you will spend your $1000.00 (every penny) to start your business?

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Expert Solution

Lean Startup Plan

Lean Startup Plan is opted in situations where the the need to setup the business plan is urgent or if the business is a simple business .

The amount of $1,000 shall be spend towards the following activities in a lean startup plan:

1. Value Proposition Analysis

2. Key partnership, resources and activities

3. Customer segments channels and relationships

4. Revenue streams

Traditional Startup Plan

It is a plan which is more lenghty and detailed than those in a lean startup plan.

The amount of $1,000 shall be spend towards the following activities in a Traditional startup plan:

1. Excecutive summary

2. Business description, concept and strategy

3. Indusrty analysis

4. Market Analysis of the competition

5. Organization and Management

6. Financial Projections which gives a glimpse of cash flows

7. Financing Request relating to funding from investors

8. Industry studies, Letter of incorporation, Trademark Registrations, Partnership agreements etc.

ekkarill92 answered 1 year ago

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