Nowadays, no serious startup can hope to make it in the long term without a clear vision, mission and formal business model plan. If you keep all these in elements in your mind only, things stay abstract. You need to have a tangible written road map with clearly defined objectives and a plan to get there.
Investors and stakeholders in the Middle East especially Dubai and the UAE are of very high standards nowadays and the old days of doing business based on solely trust and PR have gone. Potential business partners and investors need a clear and written plan. They need numbers, forecasts, a business strategy and well defined objectives.
You need to answer questions such as:
- What is my business / startup about?
- What are my short, medium and long term objectives?
- What is my marketing strategy?
- Who is my target audience / customer?
- What are the financial implications of running my business?
- What are the expected cost and revenue I am generating in the next year? 2 years? 5 years?
We have just scratched the surface of business planning for startups and new businesses. If you are serious about your new venture then I recommend you contact us for more info and KCCG will happy to help you with writing a killer business plan to take your startup/company to the next level.