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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?

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 2 years ago

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