More than 70% business fail in first year if their life cycle. Among the major reasons for this failure are attributed to pre-start-up planning and knowledge of the market. Business plans are developed to gauge the feasibility of ideas from numerous perspectives and forms basis for pitching to secure funding. Reading, understanding such detailed document could be cumbersome and take long time. There is no one – two page illustration of a start-up’s strategy, plan and financial implications that can be used universally. Additionally, there is no known method or a model that develops the context of the business enabling the start-up to relate to and know the market and is built on design thinking principles.
A ‘start-up frame’ is constructed to model a start-up taking a logical sequential flow connecting value drivers on economic, operational and strategic levels of the start-up. Additionally a new detailed business plan format is also presented that helps develop “Context, build Strategy and know the Financial Impact”.. Frame benefits from considerations of the design thinking, value dynamics, the business canvas and numerous important strategy and finance frameworks. This frame is tested by start-ups and professionals at www.12manage.com. The frame is included in business models dictionary.
The website will provide assistance to entrepreneurs to develop their plans in comparatively less time with complete confidentiality, more dependability and efficiency. It will also help develop business plans and feasibility in simplistic manner.
Dr. Muhammad Rahatullah Khan
Associate Professor and
Director Business Innovation and Entrepreneurship