Successful Entrepreneur Check List and Guidelines
© Jeanie L. McGuire 4/2/2000
Business Plan
A 20-25 page document with the following information:
 the business opportunity
 the business
 the product or service
 the market
 the competition
 the competitive advantage
 the marketing and sales plan
 the management
 the sources of revenue
 use of funds being raised
 3 year financial projections.
Executive Summary
A 2-3 page summary of the business plan that can be a “stand alone”
document.
Elevator Speech
A one-two minute oral summary of the executive summary.
Presentation
A 12-15 minute PowerPoint presentation of the business plan.
Passion
The entrepreneurial spirit that drives the business to success.
Key Questions from Investors
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Is the product/service viable?
Is the market expanding and growing?
Is there a competitive advantage? What barriers keep others out?
What is the burn rate and what is burning it?
What are the sources of revenue and when do they start?
Is the experience of the team relevant to their positions in the company?
Has the team put in any money?
Who is the “Champion” for outside funding?
What is the valuation. and how did you derive it?
Formulas for Success
ES = I+M3 x P3
Entrepreneurial Success equals
Idea plus Market, Management, Money times Patience, Persistence, Passion
© J. McGuire and D. Gury 2002
SS = N2
Successful Startups equals Networks and Nets
(Networks are support systems of advisors and experts
that serve as “Nets” to prevent entrepreneurs from falling )
© Jeanie L. McGuire 1996
Checklist for Success
Name:
Phone: __________________________
Company:________________________________________
Date: ______________________________
Opportunity/Problem _____________________________________________________________________________________
Solution __________________________________________________________________________________________________
Market ___________________________________________________________________________________________________
Size ________________________________________________________________________________________________
Growth_____________________________________________________________________________________________
Product ___________________________________________________________________________________________________
Technology ________________________________________________________________________________________
Owner _____________________________________________________________________________________________
Protection __________________________________________________________________________________________
What is protected ___________________________________________________________________________
How protected ______________________________________________________________________________
Competition _______________________________________________________________________________________________
Competitive Advantage _____________________________________________________________________________________
Revenue mode_____________________________________________________________________________________________
Marketing Plan ___________________________________________________________________________________________
Sales Plan _________________________________________________________________________________________________
Management
Chairman ___________________________________________________________________
CEO _________________________________________________________________________
COO_________________________________________________________________________
CFO _________________________________________________________________________
CTO _________________________________________________________________________
CMO ________________________________________________________________________
Other _______________________________________________________________________
Directors
Advisors
Number of Employees ____________________________________________
Company______________________________________________________________________________
Owners of the Company and % of ownership
_______________________________________________________________________________________________________________
_______________________________________________________________________________________________________________
________________________________
Stock authorized ___________________
Stock issued ________________________
Investors______________________________________________________________________________________________________
__________________________________________________________
Finances _________________________________________________________________
Funds being raised _______________________________________________
Use of funds being raised ___________________________________________________________
Debt or Equity? ____________________________________________________________________
If equity…how much for investment ________________________________________________
Three year financial projections
___________________________________
____________________________________
____________________________________
Valuation and how derived __________________________________________________________
Burn Rate __________________________________________________________________________
What is burning ____________________________________________________________________
Months to stay alive _______________________________________________________________________________
Why doing this____________________________________________________________________________________________
Business Plan status ______________________________________________________________________________________
Help needed_______________________________________________________________________________________
© Jeanie L. McGuire 2/28/2001