A road map explains the in-depth process of achieving the bigger picture that is shown through the business plan. The primary objective of a road map is to accomplish the milestones set for completion of different stages.
For instance, getting an angel investor to fund your startup is a component in your business plan under which you can specify the following path or road map to achieve:
- Build a prototype based on your business idea
- Prepare a pitch deck (presentation) focusing on the essential areas such as your product, market size, target customers, competition, sales potential and team operations.
- Estimate the market value of your startup
- Establish networks through which you can approach investors by going to startup events or at the co-working space.
- Prepare a list of investors whom you will pitch.
- Ask your team to take their appointment. Once you are done with all these steps, you may have an investor on board.
Check out the video on how to create a roadmap below
Power Words :
- Market size
- Sales potential
- Target customers
- Co-working space
Critical thinking challenge question :
Create a roadmap for your company’s ideation process and execution process. Roadmap should be created until launch of your product/service
Watch this video for further learning :