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Phase 3b - DefinitionAgent mode: synthesisv1.0.0

pm-business-case

Financial projections and investment rationale - synthesizes market size, business model, and KPIs

/pm-business-case

When to use

Phase 3b, after Lean Canvas and KPIs are complete. Synthesizes all commercial inputs into financial projections and an investment rationale. Used for internal go/no-go on funding Phase 4+ work, and as input to a pitch deck if fundraising.


What it produces

Business Case (artifacts/phase-3b-definition/business-case.md):

  1. Market opportunity - TAM/SAM/SOM from Phase 2 market analysis
  2. Revenue model - pricing, ARPU, payment terms (from Lean Canvas / BMC)
  3. Unit economics - CAC, LTV, LTV:CAC ratio, payback period
  4. Financial projections - Year 1-3 scenarios (conservative / base / optimistic)
  5. Cost structure - team, infrastructure, marketing, operations
  6. Investment ask - what is needed, for what, for how long (runway)
  7. Break-even analysis - when and at what customer count
  8. Key assumptions and risks - what must be true for projections to hold

How to invoke

/pm-business-case           # interactive
/pm-business-case --agent   # autonomous synthesis from Lean Canvas + KPIs + market analysis

Key rules

  • All projections must be grounded in actual market data or validated assumptions from Phase 2-3a. Mark any assumption [ASSUMED] if not validated.
  • Three scenarios are mandatory - a business case with only optimistic projections is not a business case.
  • Unit economics must be calculated at the segment level, not blended across all segments.

Dependencies

Required before running:

  • pm-lean-canvas or pm-business-model - Revenue Streams and Cost Structure are direct inputs
  • pm-kpis - AARRR metrics seed projection growth assumptions

Recommended:

  • pm-market-analysis - TAM/SAM/SOM and competitor pricing data
  • pm-personas - segment-level revenue and CAC estimates

Produces for:

  • pm-prd - business case summary is a required PRD section
  • pm-product-roadmap (v1) - investment staging informs roadmap phases
  • pm-pitch-deck - business case is the financial backbone of the pitch

Related skills: pm-kpis, pm-lean-canvas, pm-market-analysis, pm-product-roadmap, pm-pitch-deck