Launching a startup can be really exciting and overwhelming at the same time. This is when you finally decide to take your idea, give it a name and create a strategy so it can be shared with the world, but how do you do this?

RocketDevs was created with one of these problems in mind and are constantly being of service to multiple startups by scaling their tech team.

Using real-time monitoring and productivity systems which provide you with detailed reports to enable you to make data-driven decisions as well as the opportunity to get ‌the top 5% of developers after a thorough hiring process.

You can take advantage of the 14 days trial period with RocketDevs which allows you to assess a developer during that time.

Content

How to Build a Business plan for a startup
How to build a startup in 7 days
How can RocketDevs help?

How to Build a Business Plan for a Startup

Here’s a step-by-step process on how to build a business plan for a startup.

Executive Summary
Business Description
Market analysis and research
Organization and Operational Management
Product/Services
Marketing and sales strategy
Funding/Investment Request

1. Executive summary

This is the first step when you want to build a business plan for a startup. This is a basic overview of your startup, your value and how you intend to solve your user’s needs.

It should include:

Mission statement
The problem your startup solves
A Short description of your product

2. Business Description

You need to showcase the description of your goals and objectives. You get to highlight the problem it solves and it would benefit your target audience.

It should include:

How you intend to make money
Mission and vision statements
Short-term and long business objectives.

3. Market analysis and research

This is where you showcase your thorough market research and analysis and highlight the market gap you intend to fill. This is a very crucial element when learning how to build a business plan for your startup.

This section shows that you understand the need for your product and the market you’re about to explore.

It should include:

Industry trends and growth
Target market
Market size and potential
Competitive analysis and risks

4. Organization and Operational Management

This is where you plan your organizational structure and how you intend to operate effectively to achieve your goals and objectives. This is very important when you want to build a business plan for a startup .

It should include:

Teams and leadership
Future team building plans
Legal Structure

Note this: The inability to showcase the strength of your team from the beginning might be a problem for investors as the process matters as well as the results.

This is another reason where RocketDevs come in and can be of service in this regard. With free consultation, you get the chance to lay out all your needs and goals which will determine which talents are the best for you.

5. Product/Services

This is the star of the show when it comes to acquainting yourself with how to build a business plan for a startup. You get to explain your product in detail, highlight the value it offers and its special features.

This should include:

Product or service features and benefits
Unique Value Proposition
Development Stage

6. Marketing and sales strategy

You can’t release a product without mapping out the necessary marketing strategies needed to generate revenue and create awareness.

It should include:

Pricing strategy
Customer acquisition channels
Sales funnel
Customer retention strategies and KPIs

7. Funding/Investment Request

how to build business plan for a startup
You get to outline how much you need to keep your startup afloat and help scale it and the strategies that would be used to generate profit for investors in the long run.

It should include:

How much is required
Funds plan usage
Investor terms
Financial milestones and exit strategy

For You: Top 11 Tips for Effective Startup Building Without Burnout

How to Build a Startup in 7 Steps

Now that you’ve equipped yourself with how to build a business plan for a startup, it’s time to know how to build a startup in 7 practical steps.

1. Identify the Problem to Solve and Validate the Solution

You might think that your idea is unique but without proper in-depth research to ensure that there’s a market out there for your solution, then you’re better off leaving it as an idea.

Remember that this was one of the basic elements of how to build a business plan for a startup and it applies to startup building as well.

Research your prospective target market thoroughly, identify pain points, the roadblocks that might hinder them from ‌using your solution and research what your competitors are doing.

Remember, the solution doesn’t need to be an elaborate one but the type that they can’t do without.

Related to hiring: Hire Pre-Vetted Developers | Silicon Valley Standard

2. Determine your Unique Value Proposition (UVP)

build a business plan for startup
After thorough market research, it’s time to determine your unique value proposition.

In other words, identify the overall set of value and benefits that makes your product unique and what the customer stands to gain from your product.

Example
RocketDevs non-profit initiative connects Africa’s top-notch tech experts to startups which empowers professionals and provides affordable service to startups while giving them the best pre-vetted developers.

3. Develop a Business Plan for your Startup

This is an important step on how to build a startup because your business plan will act as a roadmap for your startup.

It will outline your business model, goals, financial projections, business structure and marketing strategies. It is also very essential to present to investors when you’re on the look out for funding.

4. Build A Strong Startup Team

No matter what you do, do not compromise quality when it comes to getting the best team for your startup because your success depends on it.

Get co-founders and talents that complement your skills and see your vision. Getting the right people with the right expertise and motivation makes everything easier.

This is also important as it is needed for organizational structure as explained in the ‘how to build a business plan’ section.

Solution
Do not worry about the cost. RocketDevs has a solution to that too. You get access to expert developers for hire at an affordable cost along with productivity tools that make it easier.

It is important to have quality developers, especially at the beginning of a startup and, of course, to run through the entire project and after.

5 Create an MVP (Minimum Viable Product)

This is one of the crucial stages of building a startup successfully. A minimum viable product is the basic version of your product that helps provide insight into what your audience actually needs.

It introduces your product to the market, helps you establish the need for the product, and provides you with the necessary feedback needed to improve your product over time.

Related to MVP: 11 Common Mistakes To Avoid When Building An MVP

6. Secure Funding

Startups need financial support to grow. You can decide to seek investment through angel investors, crowdfunding or you could bootstrap.

This is also why your business plan is needed along with a strong pitch which would be used to show prospective investors why your startup is worth investing in.

Outline how much you would need and your projection of how long it would take to make a profit.

7. Scale your Startup and Improve

build business plan for a startup
After going through the above steps on how to build a startup successfully and how to build a business plan for a startup, this is the part you get to that assures you that your idea was a brilliant one.

Use the customer feedback gotten from your mvp and your marketing to improve your product, iterate or review your product features and expand your current customer base.

You Might Like: How To Find A Programmer For An App (Steps & Platforms)

How can RocketDevs help?

The basis of any startup, from ideation to mvp development and scaling depends on the strength of the startup founder and the team that complements the strengths of each other.

After reading the tips on how to build a business plan for a startup successfully, it’s time to take the next steps that will move you from just an ‌idea to a product-in-progress quickly and efficiently.

RocketDevs is a non-profit that is passionate about helping startups scale effectively using the right pre-vetted developer talent. RocketDevs is trusted by over 500 startups, companies and agencies with a 98% success rate.

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