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1. Develop a timeline (flowchart) of the tasks that need to be accomplished in order to make your company profitable. Build in as much efficiency as possible by completing tasks in parallel.
2. Identify appropriate distributions for all of the tasks on your timeline, to include sales and the potential for them to generate revenue.
3. Build an Excel-based simulation of your timeline and create a histogram of possible durations for the company to become a success.
4. Apply the “Clint Eastwood” rule to your simulation output (“How lucky do you feel?”) Remember: being too aggressive can get you burnt if you don’t achieve your goals, but being too conservative in your estimate and asking for too much can result in your proposal getting turned down.
5. Generate Cost and Revenue curves for your timeline from step 4.
You will have two deliverables for the project, which are due together as documents in Canvas at the beginning of class, Lesson 19.
DELIVERABLE 1. A business plan proposal and funding request for your Angel Investor. This should be brief, and should focus on specifics and results. In particular, specify how much money will be required to fund this venture, how long it will take to generate a profit, and how much return can be expected on the initial investment over time.
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