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How to calculate and manage risks using spreadsheet method for your startup
Hello Everyone!Starting a company can be disruptive if entrepreneurs don't anticipate the risk and prepare themselves to mitigate them. If...
What is a roadmap? How do you create one?
Image source: Pixabay
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
Citations :
Skillioma (February 3, 2023) What is a roadmap? How do you create one?. Retrieved from https://www.skillioma.com/what-is-a-roadmap-how-do-you-create-one/.
"What is a roadmap? How do you create one?." Skillioma - February 3, 2023, https://www.skillioma.com/what-is-a-roadmap-how-do-you-create-one/
"What is a roadmap? How do you create one?." Skillioma - Accessed February 3, 2023. https://www.skillioma.com/what-is-a-roadmap-how-do-you-create-one/
Skillioma May 8, 2020 What is a roadmap? How do you create one?., viewed February 3, 2023,<https://www.skillioma.com/what-is-a-roadmap-how-do-you-create-one/>
Skillioma - What is a roadmap? How do you create one?. [Internet]. [Accessed February 3, 2023]. Available from: https://www.skillioma.com/what-is-a-roadmap-how-do-you-create-one/
"What is a roadmap? How do you create one?." Skillioma [Online]. Available: https://www.skillioma.com/what-is-a-roadmap-how-do-you-create-one/. [Accessed: February 3, 2023]
Power Words :
- Market size
- Sales potential
- Target customers
- Co-working space
- Pitch
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 :
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