Startups Ireland Launches a New Startup Consultancy Service Called Quick Start
If you have a business idea but don’t know where to start or what first steps you need to take, this new service will help you get off the ground with ease. The programme covers all the essential elements you need before you can even consider marketing and promoting that business.
Every week Startups Ireland is contacted by people from all over the country with new ideas who don’t know where to start or Entrepreneurs with businesses issues that they need help with. QuickStart is designed to provide independent professional advice to help Startups get going or get around the current issues that they are facing.
About Quick Start & The STEP Programme
The Quick Start & STEP programmes were created to help Irish Startups evaluate their business ideas quickly – providing an independent evaluation of your idea from experienced entrepreneurs and business advisors. After Quick Start, you can access the STEP programme where you get the help you need to bring your Startup to life.
The discussion will cover, among other elements, the product or service you will provide, the market and its characteristics, proposed pricing and costs, scalability and funding requirements and will identify issues you will face if you go forward.
You will receive a written report covering the assessment of the opportunity you have identified. This report will enable you to make the key decision as to whether to move to the next stage and commit further time and financial resources.
The Start Up Evaluation Programme is suitable for Entrepreneurs who have made the GO decision and are anxious to move to the next phase of planning their new business. The programme is designed to produce five significant outputs:
- A medium-term Business Plan suitable for presentation to 3rd parties
- An accompanying Financial Plan
- An initial Funding Summary
- An initial Equity Valuation of the business
- An Action Plan to DAY 1 trading
This plan will include sections on Markets, Products, Marketing, Distribution, Manufacturing and Organisation requirements together with any other relevant matters.
The Financial Plan will cover a time horizon of 3/5 years and include profitability statements, Balance Sheet and Cash Flow movements together with a Risk/Opportunity analysis.
The Funding Summary will detail the initial capital and operating costs to be incurred (1) prior to trading and (2) post Day 1 until positive cash flow is achieved.
An initial Equity Valuation will be developed based on the present value of future cash flows.
Action Plan to DAY 1 trading
The Action Plan will set out the various 3rd party and founder actions required to get to DAY 1 trading – Go Live!