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What are some best practices for building my Bizplan with Monét?

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I just purchasedMonét and would like to understand the best way to use it -- I want to avoid developing and having to correct bad habits 🤓.

This topic was modified 4 months ago 2 times by alpha
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Tips for building Monét Bizplan sketches:

  1. Get your ideas out of your head first — by just adding:
    • Idea names
    • 1-4 line descriptions
    • desired annual profit goal
  2. Edit your first Bizplan
    • Start editing by tapping it in the Bizplan list
    • Focus first on the Ideate tab and jot down your initial answers to the Concept, Strategy and Tactics questions — you can refine or expand on these answers later after doing further research
    • Next switch to the Validate tab and start to put numbers to your Bizplanan sketch — Tap the pencil icons to use the Startup and Monthly Fixed Cost helpers
  3. Sketch your plan by experimenting and refining
    • Go to the Simulate Tab and see the financial results based on the Costs, Price and Sales inputs
    • Adjust Sales, Price and Cost sliders to simulate these changes to your business model
    • The Summary Chart provides the big picture results: 
      • Average annual profit (the average profit each year over the 3 year simulation period)
      • Startup Investment Payback period (how many months it will take to recover your startup investment)
      • Break-even Sales units (how may items you need to sell each month to offset your fixed cost and generate a profit)
      • Note: Lightening will flash and the Summary Chart will display in color when the plan achieves the annual profit goal
    • The Yearly Chart shows Year 1, Year 2 and Year 3 details, including:
      • Revenue
      • Fixed Costs
      • Variable Costs
      • Profit
      • Note: The Yearly Chart will display in color when the plan achieves the annual profit goal
    • The Monthly Chart shows 36 months, month-by-month details, including:
      • Revenue
      • Fixed Costs
      • Variable Costs
      • Cumulative Cashflow
      • Cash Reserve Deficit (Additional cash required to cover losses until your plan becomes profitable)
      • Note: The Monthly Chart will display in color when the plan achieves the annual profit goal
    • The sliders allow you to determine the Sales, Price and Cost changes required for success.
      • Make sure to edit the cost, price and sales entries in the Validate tab to capture these insights.
      • These adjustments will align your baseline plan with the discovered success criteria.
  4. Export and Collaborate
    • When your Bizplan sketch achieves the desired results you are ready to share it with the world.
    • Go to the Simulation Tab and tap the Bizplan Export Button (box with upward arrow)
    • Review the previewed Bizplan sketch containing your full narrative plus financials
    • Tap the Export button and share via AirDrop, Messages, Mail, Notes, or other app or Save to Files app for later editing.

This is the generally recommended approach to using Monét. The takeaway is to take your time to think about your idea, research it, capture your insights in Monét, then sketch your plan through experimentation and refinement at your pace and wherever inspiration strikes you.

This post was modified 4 months ago 2 times by alpha
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