Dennis G. Lucan and Slava Baranovskiy organised an entrepreneurial breakfast on Saturday 23th June between 10am and 12pm.
This was the largest breakfast with entrepreneurs organised by the Marylebone Entrepreneurial Club and the group discussed about best practices in building business plans, what is scalability and why is it important to embed it into a business from day 1, as well as financial planning and forecasting. In general, entrepreneurs could be working on the next million pound idea, however, if the business plan is lacking clarity and does not address scalability, the business will struggle to get investment. The group shared personal difficulties with writing business plans from a structural and content point of view and asked for advice around the table.
Boris Rykov (eMop LTD )
Scalability could lead to a dead end if you are not careful. Make sure you see clearly when you can achieve BEP, especially considering that the costs will most likely go up as you scale your business.
Slava Baranovskiy (Founder of ELIGENT SYSTEM)
Clearly reflect how the business will reach the monetising point and when that would be reached.
Dennis G. Lucan (Founder of DGL Group)
Keep it simple and easy to understand. Make sure you include the key KPIs for the business and have an in detail explanation about how those will be monitored and by whom.
Join us for breakfast by becoming a member of the Marylebone Entrepreneurial Club.
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*The entrepreneurial breakfasts are for club members and by invitation only. If you would like to join, please send us an email:
info@marylebone.club
