The steps…

Create a clever and insightful graphical representation of the business model which will become your company.

1. Identify who the customers are and why they will pay money for your product. This is the revenue side of the model.
2. Identify the elements which must be incorporated into your product to create it. This is the expense side of the model.
3. Identify all the management functions which are necessary to transform the ingredients into the product and to educate the customers and to make the sale and to manage the money.
4. Identify the competitive forces that are lurking in the darkness wanting to destroy you — the ones that are real and the imaginary ones.

Make an org chart which shows each of the functions that are necessary to operate the business model.

1. Make it a functional chart and don’t worry that it turns out very close to what every company ever created looks like. That is good. Remember, you did not invent sex.
2. Identify the functions which are “essential” and those which are “nice to have”.
3. Now identify what you can afford and what you can stretch to afford and those which are simply out of reach for the time being.

Vision, Mission & Values

1. Vision — big dreams and little dreams all cost the same, so go with the big ones so that if you only accomplish fifty percent, it will still make your Momma proud.
2. Mission — simple, direct and jettison every extra word. The mission of the Infantry — “Find ‘em. Fix ‘em. Kill ‘em.”
3. Values — sweat this one because you will have to live this one. If you are going to take risks and run with the bulls, this is where you let everyone know. Don’t be afraid to say that “frugal” is a value. I like frugal.

A good comp plan includes:

1. Salary;