Day: December 29, 2010

Many investors will bet on the team than the product or the market opportunity. So what is the ideal startup team? According to Mark Suster, its 5 software engineers and a CEO. But edocr.com is now 3 years old, yet it has no full-time employees. What it has is a team, made up of freelancers and contractors. This arrangement has helped us to bootstrap, but we now need a major rethink on how we can grow as a business, in terms of market share, revenues, product and people. In terms of writing the business plan for edocr.com, I have chosen…

There are many ways to write a business plan. But how do you start the process? You could start by thinking of: Product – Where would you like to see the product in 18 months? Sales – How much revenues would you like to generate in 5 years time? Market – How much market share can you grab in 5 years? Capital – How much capital would you need to get to traction and subsequent break-even? All of the above, will get you start thinking. The overall plan will cover all of above, as you start developing a detailed plan…