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Summary

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)
    Make your short term strategy part of the long term strategy, logical and easy to follow.

    Dennis G. Lucan (Founder of DGL Group)
    Sometimes the daily tasks do not make sense without being part of the bigger picture. From time to time, remember to pause and think about the overall direction of the business.

    Polina Alexandrova (Entrepreneur)
    Breakdown long term strategy into smaller achievable steps and track the progress along the way. The tasks must be timebound and have deadlines.

    Vadim Rusin (International markets expansion)
    If you have a long term strategy, you must have an implementation plan with specific actions. You need to setup KPIs to track progress which then blends into a balanced score card.

    Join us for breakfast by becoming a member of the Marylebone Entrepreneurial Club.

    If you would like to see the stories and lives, follow: @dennisglucan on Instagram.

    *The entrepreneurial breakfasts are for club members and by invitation only. If you would like to join, please send us an email:
    info@marylebone.club