One-on-one business advisory with our CEO Elie Abou Jamra, who shares his knowledge on various aspects of building a business.
1- The Business
What are the activities and goals of your business? Briefly summarize the main aspects of your business. Be as clear and concise as possible.
2- Executive summary
Give a detailed overview of the main aspects of your business. Describe the company, the product/service, the market and customers, the competitors, the management strategy, the sales, and your business’ operations. Some questions to bear in mind for this section:
- What is your business idea? In what way is it creative and unique?
- Who are your target customers? What test customers have you approached or could you approach? What is the value of those customers?
- What market volume and growth rates do you forecast?
- What competitive environment do you face?
- What distribution channels will you use?
- What partnerships would you like to enter into?
- What are the sales, cost and profit situations?
- What opportunities and risks do you face?
- What is the picture on patents?
- What are the social and environmental impacts of your business? In particular, what are the employment opportunities in regards to the development of the project?
- What long-term goals have you set?
- What additional stages of development are needed? List your next, concrete steps.
3- Project development stage
Indicate the schedule of your business (starting date, registration, achievements). Some questions to bear in mind for this section:
• What have you achieved so far?
• What state is the product at now (idea, prototype, beta tested, in market)?
• What are your next steps?
• Where do you see your business in 5 years?
• How will you get there?
4- Your product or service
Describe your product or service and its specificity. Some questions to bear in mind for this section:
• How do you produce it?
• Who are your customers?
• Why will they buy your product/service?
5- Your business model
Describe how the business will reach its customers and generate revenue. Some questions to bear in mind for this section:
• What is your sales and distribution strategy ?
• What is the pricing model and why?
• What are your distribution and communication strategies?
• How will you adapt to changes in the market environment?
• How will potential customers find out about your product/service?
6- Your market
Describe your customers and the way you will address their needs. Some questions to bear in mind for this section:
• What size is your target market?
• Have you segmented your market and how?
7. Your team
Describe your management team and your future hiring plans. Some questions to bear in mind for this section:
• Who is the team composed of?
• What do they do and what are their qualifications?
• Is there currently a gap in your team? If so, are you planning on recruiting someone?
8. SWOT analysis
9. Risk management & social impact
How do you intend to mitigate the risks associated with your activities? What impact will your business have on the society and/or the environment?
- What are your current funding needs? Specify for what purpose.
- How much have you personally invested in the business?
- What are the other sources of funding? Specify each source, the percentage and the amounts.