Blank Check Company

Finance allah shmoop what is a business plan Well think

of it like blueprints for building a home or a

directions for toll house cookie baking or the process for

howto you know get pregnant let's get down to business

time anyway A business plan is just the game day

strategy for how your little garage startup will grow to

someday be a google or facebook or even little old

shop You'll describe the product like a pill that cures

cancer Yep some products are easy to describe Like if

you actually had a pill that cures cancer while you'd

pretty much be done you could have a one page

business plan that just says i have a pill that

cures cancer Your eight hundred seventy six people on whom

it has worked Now give me billions of dollars and

a nobel prize night and you'd be done But if

you only had a flying car well then you describe

it well How much weight it khun carrie how fast

and far it goes how it navigates and avoids crashes

and how it recharges and stuff like that That's the

product then there's the place or distribution Like how you

get the car out to the masses you want to

sell it to like are you partnering and paying ford

to stock it in their showrooms Are you leveraging starbucks

places teo You know showcase it Get buzzed while you

buzz about that Or do you just have a mail

order website Customers pay with a credit card and a

delivery agent applies it to your home You know kind

of like tesla All right Next up promotion Like how

do you market your product Or is it just so

cool that the press writes about it endlessly fawning and

all that digital ink is free Well if the products

all over the covers of the new york times and

yusa today well you're kind of marketed everyone in the

country knows about it All right Well then there are

the finances Like how much does a unit cost So

this is all about price How much is the factory

that stamps out the carriage The blades of the battery

Well if you sell a hundred units a month you

make what What should they be Priced at fifty grand

Each one hundred two hundred fifty grand if you sell

Ten thousand a month Well how much do you make

How much capital do you need thio field all that

get through your first two years and then how much

do you need to raise beyond those first two years

to get to break even profitability and and so on

Is there a ny po in the future Yeah yeah

what about that That should be in the plan Well

there's a lot to figure out a lot of work

to put together a business plan So you better get 00:02:27.7 --> [endTime] uh you know busy No