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Milestone Chart
The milestone chart of your envisaged
venturepreneurial journey leads to fulfillment of your
entrepreneurial
vision and provides a
roadmap to
strategic achievements. A milestone chart is also an
important tool of internal and external communication with
existing and prospective strategic partners. |
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Milestone |
Description |
Significance |
Required
Resources |
Timing |
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This column is required if you
prepare the milestone chart for prospective funders |
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Multiple
Users and Uses of a Milestone Chart |
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Users |
Uses |
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Company's Founder |
Thinking in terms of milestone events can help you see the big picture
of your
entrepreneurial journey and organize your
entrepreneurial strategies, activities and your available resources into
a logical sequence of stages and steps.
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Venture Manager |
Milestone-based
thinking helps you create the most effective strategic
business design of your venture,
align it strategically, and define the priorities at each stage of your
company’s development, growth, and operations.
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Venture Marketer |
Externally,
the milestone chart serves as a 30-seconds introduction of
the venture to potential strategic partners and funders. It
shows what
you are attempting to do, why it is important, and how each activity
relates to the required level of support and/or
funding and to the likely payoff. |
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Venturepreneurial Team |
The milestone chart
provides
strategic alignment,
strategic motivation, and intermediate
stretch goals, and helps streamline
ideation,
strategic creativity and
intellectual teamwork. |
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Venture Capitalists |
The milestone chart
facilitates quick understanding of what the startup has achieved so
far and what it is planning to achieve in future. |
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