Anatomy of a Startup

Develop a five-year circulation and financial plan. Said another way, is Mr. Hambleton willing to lose money for at least three years while building a housefile (customer list)? I strongly suggest he create a five-year circulation plan, forecast and pro-forma by year. This should detail expected response rates, selling expenses, gross margin and customer return ratios. The plan will show him how much money to invest and expected results by year. He should update the plan at least annually as results become available.