Building Blocks of The Business Side of a Business
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Business Component of your businessStage of CompanySudha's comments
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Business Operations
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Legal
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Signup a LawyerStartup
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Get basic legal docs ready - NDAs, Property Lease etc.Startup
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Incorporate businessStartup
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Term sheet and financing as appropriateStartup
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HR setup (once you employ people)
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Employment offer signed by each employeeStage 1 - Office Setup
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Signup Payroll companyStage 1 - Office setup
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Find Office space (can be your basement or a sub-lease of another startup for starters)Stage 1 - Office Setup
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Setup Office space - with Internet connection, computers, desks, chairs etc.Stage 1 - Office setup
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Basic Office Supplies purchases - setup a Staples card and a person to handle petty cashStage 1 - Office setup
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Technology Infrastructure:
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Development environment setup with testing environment setupStage 1 - Office Setup
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Buy Domain name and assign to companyStage 1 - Office Setup
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Setup regular backup (even if hosting company does it)Stage 1 - Office Setup
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Sales Infrastructure:
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Identify and Communicate initial customer targetsStartup
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Setup a basic CRM system to track customer contacts and progressStage 1 - Office
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Make ppt from Customer Point of viewStartup
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Accounting:
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Hire a bookkeeperStage 1 -Office
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Purchase software lisence for quickbooksStage 1 - Office
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Setup a schedule and person incharge to provide info and track time of the bookkeeper (if consultant)Stage 1 - Office
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Patent Management:
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Hire a patent lawyerStartup
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Sign first patent or provisionalStartup
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Make a patent pipeline (build on product plans)Managing patent applications can be time consuming and takes developers times if we wait for patent lawyer's call.
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Business Planning
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Build Hiring pipeline (min for 3 months)Stage 2
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Product pipelineStage 2
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Customer/Partners optimistically plannedStage 2
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Projection of costs and revenues,work, adding all of the above plans togetherStage 2
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Business Processes SetupStage 2You'll need this once you 6 people or first beta customer.
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Setup ongoing communication (wiki) internally
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Make sure the process from customer signup to executing is consistent for all customers (maybe shipping product or CD, or setting lisence to download or access site or software, or beginning of a setup and integration effort for customer , but make sure there is a consistent process independent of individual's whims for efficiency
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Setup key business metrics
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Track actual costs of production (independent of variable costs)
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Shares Tracking
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Keep Cap Table upto date
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Setup stock option plan
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Ensure stock options grant based on business metrics and update cap table on it.
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