This week feels like I’ve gone back to school and am in a Business Studies class.
My Indian cold has finally cleared up, and fingers crossed it won’t come back, so it’s been back to business.
So how is it that I’m back in a business studies class?
Well a few weeks ago I alluded to a new online/offline business that I was working on with Aravind and Anand.
It turns out that we had massively underestimated the cost of gathering a certain type of data. An underestimate that was ‘out’ by about £60,000! The only alternative is to look for outside investors who are willing to inject the cash into the business upfront so that we can really begin.
Unfortunately, investors need graphs, forecasts, profit & loss accounts, SWOT analysis, expenditure break downs, marketing strategies and a whole host of other things before they’ll even give you the time of day.
So my job for the week has been to create a substantial business proposal with all the above information collated into one report.
I’ve been using all the old skills learnt during my business studies courses when I was 18, but had to go back and research it and brush up my skills (and remember what the difference is between a profit and loss sheet and a balance sheet).
I’m pretty sure it’s going to be worth it though because this type of business exists in the UK and the leading company makes £100m+ per year, but the business model doesn’t exist anywhere, in any form, in India. Crazy!