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How to Write a Business Plan For Hong Kong Startups - Part 1
There are two key parts to this blog: how to write a business plans and particular points to notice for Hong Kong startups.
In this article, let us start with the first part - the eleven (11) things to include in your business plan:
1. Company Purpose
Start here. Define your company in one powerful sentence. Do not get caught up listing features and accomplishments. Focus on communicating your mission and purpose.
Describe the pain of your customers. How are these pain points addressed today and what are the areas of improvement to current solutions.
What is your solution (product/service) and why is your value proposition unique and compelling? Is it a sustainable solution in the future? Provide use cases.
4. Why Now
The best companies almost always have a clear why now? Set up the historical evolution of your product/service category —so why hasn’t your solution been built before now? Define recent trends that make your solution possible.
5. Market Size Potential
Identify your customer and your market. Calculate the Total Addressable Market (top down), Serviceable Available Market (bottom up) and Share Of Market.
List out your direct and indirect competitors. Show that you have a plan to win (competitive advantage).
Describe key elements of your product including functionality, form, features, intellectual property) and a development roadmap.
8. Business Model
How do you intend to succeed? This includes your revenue model, pricing, sales and distribution model and customer pipeline list.
Tell the story of your founders and key team members (including board of directors or board of advisors).
Include any financial information you have such as (where relevant) P&L, Balance Sheet, Cash Flow and Cap Table.
If everything goes well for you and your team, what will you have built in five years? Summarise in one final paragraph.
The guidelines are intended to be basic but covers the most critical information you should cover in your business plan. We understand each business and market will be different and that is why we will specifically cover some key points which Hong Kong investors look at in our next post.
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