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  • PITCH DAY 25 OCT
  • Topic: Startup business plan
    23 June 2018

    Breakfast with entrepreneurs

    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.

    Aspects covered:

    The difference between a pitch deck and a business plan
    Business plan structure
    Key information to include
    Scalability
    Costs and ways of decreasing unnecessary expenditure
    Financial forecasting
    Break even point (BEP)

    Key insights:

    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.

    Attendees:

    Taylor Semelsberger
    Slava Baranovskiy
    Dennis G. Lucan
    Boris Rykov
    Uzair Siddiqui
    Marie Antoine
    Tatiana Nazarian
    Aliona Sladzinskaya
    Pelumi Ojo
    Stas Kulminski

    Who is organising the breakfasts?

    Slava Baranovskiy

    Creative entrepreneur, tech startup founder, film director/producer and Entrepreneur in Residence of Westminster Business School with a strong business and tech background.
    Read more about him on his website.

    Dennis G. Lucan

    Awarded entrepreneur in national and international business competitions, business consultant with experience in marketing, growth, project management and corporate communications.
    Read more about him on his website.

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