MSME founders generally end up reviewing their decision rather than documenting the process of decision making. It is for the founders of MSME to learn and expand the team in order to remain as active player in highly competitive market. Often, decision taken without considering many aspects, results in an adverse situation for MSME Business.

Below, is an answer founder and management team can find for themselves and work on all areas that need focus. It is better to have a neutral third party (advisor/consultant) while attempting to prepare a business plan

Make an attempt to document the following.

MSME Business Owner Questioner

1. Business Model

   • Scalable business with potential for growth – Do you have a Business Plan for showing capacity to expand to new markets, increase production, and reach a broader customer base.

   • Clear and sustainable revenue model – Is your income predictable with streams of income and has profitability potential?

   • Strong product-market fit – Can you solve a geninue problem and your solution has demand?

2. Management Team

   • Experienced leadership and management team – Founder and Professional Team

   • Proven execution capability and industry expertise – Check

3. Financial Health

   • Positive cash flow and sound financial management – Check your financial numbers

   • Low or manageable debt levels – how is debt servicing done. Check your bank statement for source before periodical loan repayments?

4. Innovation and Differentiation

   • Unique product/service or competitive advantage – It should better than competitors

   • Evidence of innovation (processes, technology, business model) – what things you do differently and better than market players.

5. Market Opportunity

   • Large or growing target market – How to tell investors about market size and your product or service potential

   • Favorable competitive landscape – Lower the better but still how is your competition and how you are better positioned

6. Risk Mitigation

   • Clear identification of potential risks – required a lot of review of process to identify. Also need to look at external factors.

   • Established risk mitigation strategies – whether the same is documented

   • Regulatory compliance (e.g., environmental, labor laws)

7. Sustainability and Social Impact

   • Adoption of sustainable business practices – may be a cost centre and optional today but make become inevitable

   • Positive social impact (e.g., job creation in underserved areas)

8. Technology Adoption

   • Effective use of technology to enhance operations and scalability – Need to look at current and future technology  and built future based on current trends

9. Exit Strategy

   • Clear exit options (e.g., acquisition, merger, IPO) – Do anyone wants your business and why?

Hope this exercise has given an insight for effective decision making