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--- a/plugins/startup-business-analyst/skills/competitive-landscape/SKILL.md
+++ b/plugins/startup-business-analyst/skills/competitive-landscape/SKILL.md
@@ -19,6 +19,7 @@ Analyze industry attractiveness and competitive intensity.
 ### Force 1: Threat of New Entrants

 **Barriers to Entry:**
+
 - Capital requirements
 - Economies of scale
 - Switching costs
@@ -31,6 +32,7 @@ Analyze industry attractiveness and competitive intensity.
 **Low Threat:** High barriers (e.g., regulated industries, hardware)

 **Analysis Questions:**
+
 - How easy is it for new competitors to enter?
 - What would it cost to launch a competing product?
 - Are there network effects or switching costs protecting incumbents?
@@ -38,6 +40,7 @@ Analyze industry attractiveness and competitive intensity.
 ### Force 2: Bargaining Power of Suppliers

 **Supplier Power Factors:**
+
 - Supplier concentration
 - Availability of substitutes
 - Importance to supplier
@@ -48,6 +51,7 @@ Analyze industry attractiveness and competitive intensity.
 **Low Power:** Many alternatives, commoditized (e.g., generic services)

 **Analysis Questions:**
+
 - Who are our critical suppliers?
 - Could they raise prices or reduce quality?
 - Can we switch suppliers easily?
@@ -55,6 +59,7 @@ Analyze industry attractiveness and competitive intensity.
 ### Force 3: Bargaining Power of Buyers

 **Buyer Power Factors:**
+
 - Buyer concentration
 - Volume purchased
 - Product differentiation
@@ -65,6 +70,7 @@ Analyze industry attractiveness and competitive intensity.
 **Low Power:** Many small customers, differentiated product (e.g., consumer subscriptions)

 **Analysis Questions:**
+
 - Can customers easily switch to competitors?
 - Do few customers generate most revenue?
 - How price-sensitive are buyers?
@@ -72,6 +78,7 @@ Analyze industry attractiveness and competitive intensity.
 ### Force 4: Threat of Substitutes

 **Substitute Considerations:**
+
 - Alternative solutions
 - Price-performance tradeoff
 - Switching costs
@@ -81,6 +88,7 @@ Analyze industry attractiveness and competitive intensity.
 **Low Threat:** Unique solution, high switching cost (e.g., ERP systems)

 **Analysis Questions:**
+
 - What alternative ways can customers solve this problem?
 - How do substitutes compare on price and performance?
 - What's the cost to switch to a substitute?
@@ -88,6 +96,7 @@ Analyze industry attractiveness and competitive intensity.
 ### Force 5: Competitive Rivalry

 **Rivalry Intensity Factors:**
+
 - Number of competitors
 - Industry growth rate
 - Product differentiation
@@ -98,6 +107,7 @@ Analyze industry attractiveness and competitive intensity.
 **Low Rivalry:** Few competitors, fast growth, differentiated (e.g., emerging AI tools)

 **Analysis Questions:**
+
 - How many direct competitors exist?
 - Is the market growing or stagnant?
 - How differentiated are offerings?
@@ -107,13 +117,13 @@ Analyze industry attractiveness and competitive intensity.

 Create a scorecard:

-| Force | Intensity (1-5) | Impact | Key Factors |
-|-------|-----------------|--------|-------------|
-| New Entrants | 3 | Medium | Low barriers but network effects |
-| Supplier Power | 2 | Low | Many cloud providers |
-| Buyer Power | 4 | High | Enterprise customers concentrated |
-| Substitutes | 3 | Medium | Manual processes alternative |
-| Rivalry | 4 | High | 10+ direct competitors |
+| Force          | Intensity (1-5) | Impact | Key Factors                       |
+| -------------- | --------------- | ------ | --------------------------------- |
+| New Entrants   | 3               | Medium | Low barriers but network effects  |
+| Supplier Power | 2               | Low    | Many cloud providers              |
+| Buyer Power    | 4               | High   | Enterprise customers concentrated |
+| Substitutes    | 3               | Medium | Manual processes alternative      |
+| Rivalry        | 4               | High   | 10+ direct competitors            |

 **Overall Assessment:** Moderate industry attractiveness with high rivalry and buyer power

@@ -160,6 +170,7 @@ Budget Hotel Strategy:
 Find the sweet spot: Lower cost + higher value

 **Steps:**
+
 1. Map industry competing factors
 2. Identify factors to eliminate/reduce (cost savings)
 3. Identify factors to raise/create (differentiation)
@@ -172,6 +183,7 @@ Find the sweet spot: Lower cost + higher value
 Plot competitors on 2-3 key dimensions.

 **Example Dimensions:**
+
 - Price vs. Features
 - Complexity vs. Ease of Use
 - Enterprise vs. SMB Focus
@@ -179,12 +191,14 @@ Plot competitors on 2-3 key dimensions.
 - Generalist vs. Specialist

 **How to Create:**
+
 1. Choose 2 dimensions most important to customers
 2. Plot all competitors
 3. Identify gaps (white space)
 4. Validate gap represents real customer need

 **Example:**
+
 ```
 High Price
    |
@@ -238,6 +252,7 @@ Our product [statement of primary differentiation]
 ```

 **Example:**
+
 ```
 For e-commerce companies
 Who struggle with email marketing automation
@@ -252,6 +267,7 @@ Our product uses AI to personalize at scale
 ### Information Gathering

 **Public Sources:**
+
 - Company websites and blogs
 - Press releases and news
 - Job postings (hint at strategy)
@@ -262,6 +278,7 @@ Our product uses AI to personalize at scale
 - Patent filings

 **Direct Research:**
+
 - Customer interviews
 - Win/loss analysis
 - Sales team feedback
@@ -273,11 +290,13 @@ Our product uses AI to personalize at scale
 For each key competitor, document:

 **Company Overview:**
+
 - Founded, HQ, funding, size
 - Leadership team
 - Company stage and trajectory

 **Product:**
+
 - Core features
 - Target customers
 - Pricing and packaging
@@ -285,22 +304,26 @@ For each key competitor, document:
 - Recent launches

 **Go-to-Market:**
+
 - Sales model (self-serve, sales-led)
 - Marketing strategy
 - Distribution channels
 - Partnerships

 **Strengths:**
+
 - What they do better than anyone
 - Key competitive advantages
 - Market position

 **Weaknesses:**
+
 - Gaps in product
 - Customer complaints
 - Operational challenges

 **Strategy:**
+
 - Stated direction
 - Inferred priorities
 - Likely next moves
@@ -310,18 +333,21 @@ For each key competitor, document:
 ### Price Positioning

 **Premium (Top 25%):**
+
 - Superior product/service
 - Strong brand
 - High-touch sales
 - Enterprise focus

 **Mid-Market (Middle 50%):**
+
 - Balanced value
 - Standard features
 - Mixed sales model
 - Broad market

 **Value (Bottom 25%):**
+
 - Basic functionality
 - Self-service
 - Cost leadership
@@ -329,13 +355,14 @@ For each key competitor, document:

 ### Pricing Comparison Matrix

-| Competitor | Entry Price | Mid Tier | Enterprise | Model |
-|-----------|-------------|----------|------------|-------|
-| Competitor A | $29/mo | $99/mo | Custom | Subscription |
-| Competitor B | $49/mo | $199/mo | $499/mo | Subscription |
-| Us | $39/mo | $129/mo | Custom | Subscription |
+| Competitor   | Entry Price | Mid Tier | Enterprise | Model        |
+| ------------ | ----------- | -------- | ---------- | ------------ |
+| Competitor A | $29/mo      | $99/mo   | Custom     | Subscription |
+| Competitor B | $49/mo      | $199/mo  | $499/mo    | Subscription |
+| Us           | $39/mo      | $129/mo  | Custom     | Subscription |

 **Analysis:**
+
 - Are we priced competitively?
 - What does our pricing signal?
 - Are there gaps in our packaging?
@@ -345,21 +372,25 @@ For each key competitor, document:
 ### Market Entry Strategies

 **Direct Competition:**
+
 - Head-to-head against established players
 - Requires differentiation and resources
 - Example: Better features at lower price

 **Niche Focus:**
+
 - Target underserved segment
 - Become specialist vs. generalist
 - Example: "Salesforce for real estate"

 **Disruptive Innovation:**
+
 - Target non-consumers or low end
 - Improve over time to move upmarket
 - Example: Freemium model disrupting enterprise

 **Platform Play:**
+
 - Build ecosystem and network effects
 - Aggregate complementary services
 - Example: Marketplace or API platform
@@ -367,6 +398,7 @@ For each key competitor, document:
 ### Beachhead Market

 **Characteristics of Good Beachhead:**
+
 - Specific, reachable segment
 - Acute pain you solve well
 - Limited competition
@@ -381,32 +413,39 @@ Instead of "project management software", target "project management for constru
 ### Sustainable Advantages

 **Network Effects:**
+
 - Value increases with users
 - Example: Slack, marketplaces

 **Switching Costs:**
+
 - High cost to change
 - Example: CRM systems with data

 **Economies of Scale:**
+
 - Unit costs decrease with volume
 - Example: Cloud infrastructure

 **Brand:**
+
 - Trust and reputation
 - Example: Security software

 **Proprietary Technology:**
+
 - Patents or trade secrets
 - Example: Algorithms, data

 **Regulatory:**
+
 - Licenses or approvals
 - Example: Fintech, healthcare

 ### Testing Your Advantage

 Ask:
+
 - Can competitors copy this in < 2 years?
 - Does this matter to customers?
 - Do we execute this better than anyone?
@@ -419,17 +458,20 @@ If "no" to any, it's not a sustainable advantage.
 ### What to Track

 **Product Changes:**
+
 - New features
 - Pricing changes
 - Packaging adjustments

 **Market Signals:**
+
 - Funding announcements
 - Key hires (especially leadership)
 - Customer wins/losses
 - Partnerships

 **Performance Metrics:**
+
 - Revenue (if public or disclosed)
 - Customer count
 - Growth rate
@@ -438,28 +480,34 @@ If "no" to any, it's not a sustainable advantage.
 ### Monitoring Cadence

 **Weekly:**
+
 - Product release notes
 - News mentions

 **Monthly:**
+
 - Win/loss analysis review
 - Positioning map updates

 **Quarterly:**
+
 - Deep competitive review
 - Strategy adjustment

 **Annually:**
+
 - Major strategy reassessment
 - Market trends analysis

 ## Additional Resources

 ### Reference Files
+
 - **`references/frameworks-deep-dive.md`** - Detailed application of each framework with worksheets
 - **`references/intel-sources.md`** - Comprehensive list of competitive intelligence sources

 ### Example Files
+
 - **`examples/competitor-analysis.md`** - Complete competitive analysis for a SaaS startup
 - **`examples/positioning-workshop.md`** - Step-by-step positioning development process

--- a/plugins/startup-business-analyst/skills/market-sizing-analysis/SKILL.md
+++ b/plugins/startup-business-analyst/skills/market-sizing-analysis/SKILL.md
@@ -17,18 +17,21 @@ Market sizing provides the foundation for startup strategy, fundraising, and bus
 ### The Three-Tier Market Framework

 **TAM (Total Addressable Market)**
+
 - Total revenue opportunity if achieving 100% market share
 - Defines the universe of potential customers
 - Used for long-term vision and market validation
 - Example: All email marketing software revenue globally

 **SAM (Serviceable Available Market)**
+
 - Portion of TAM targetable with current product/service
 - Accounts for geographic, segment, or capability constraints
 - Represents realistic addressable opportunity
 - Example: AI-powered email marketing for e-commerce in North America

 **SOM (Serviceable Obtainable Market)**
+
 - Realistic market share achievable in 3-5 years
 - Accounts for competition, resources, and market dynamics
 - Used for financial projections and fundraising
@@ -37,18 +40,21 @@ Market sizing provides the foundation for startup strategy, fundraising, and bus
 ### When to Use Each Methodology

 **Top-Down Analysis**
+
 - Use when established market research exists
 - Best for mature, well-defined markets
 - Validates market existence and growth
 - Starts with industry reports and narrows down

 **Bottom-Up Analysis**
+
 - Use when targeting specific customer segments
 - Best for new or niche markets
 - Most credible for investors
 - Builds from customer data and pricing

 **Value Theory**
+
 - Use when creating new market categories
 - Best for disruptive innovations
 - Estimates based on value creation
@@ -61,12 +67,14 @@ Market sizing provides the foundation for startup strategy, fundraising, and bus
 Start with total market size and narrow to addressable segments.

 **Process:**
+
 1. Identify total market category from research reports
 2. Apply geographic filters (target regions)
 3. Apply segment filters (target industries/customers)
 4. Calculate competitive positioning adjustments

 **Formula:**
+
 ```
 TAM = Total Market Category Size
 SAM = TAM × Geographic % × Segment %
@@ -84,12 +92,14 @@ SOM = SAM × Realistic Capture Rate (2-5%)
 Build market size from customer segment calculations.

 **Process:**
+
 1. Define target customer segments
 2. Estimate number of potential customers per segment
 3. Determine average revenue per customer
 4. Calculate realistic penetration rates

 **Formula:**
+
 ```
 TAM = Σ (Segment Size × Annual Revenue per Customer)
 SAM = TAM × (Segments You Can Serve / Total Segments)
@@ -107,6 +117,7 @@ SOM = SAM × Realistic Penetration Rate (Year 3-5)
 Calculate based on value created and willingness to pay.

 **Process:**
+
 1. Identify problem being solved
 2. Quantify current cost of problem (time, money, inefficiency)
 3. Calculate value of solution (savings, gains, efficiency)
@@ -114,6 +125,7 @@ Calculate based on value created and willingness to pay.
 5. Multiply by addressable customer base

 **Formula:**
+
 ```
 Value per Customer = Problem Cost × % Solved by Solution
 Price per Customer = Value × Willingness to Pay % (10-30%)
@@ -135,6 +147,7 @@ SOM = SAM × Realistic Adoption Rate
 Clearly specify what market is being measured.

 **Questions to answer:**
+
 - What problem is being solved?
 - Who are the target customers?
 - What's the product/service category?
@@ -142,6 +155,7 @@ Clearly specify what market is being measured.
 - What's the time horizon?

 **Example:**
+
 - Problem: E-commerce companies struggle with email marketing automation
 - Customers: E-commerce stores with >$1M annual revenue
 - Category: AI-powered email marketing software
@@ -153,12 +167,14 @@ Clearly specify what market is being measured.
 Identify credible data for calculations.

 **Top-Down Sources:**
+
 - Industry research reports (Gartner, Forrester, IDC)
 - Government statistics (Census, BLS, trade associations)
 - Public company filings and earnings
 - Market research firms (Statista, CB Insights, PitchBook)

 **Bottom-Up Sources:**
+
 - Customer interviews and surveys
 - Sales data and CRM records
 - Industry databases (LinkedIn, ZoomInfo, Crunchbase)
@@ -166,6 +182,7 @@ Identify credible data for calculations.
 - Academic research

 **Value Theory Sources:**
+
 - Customer problem quantification
 - Time/cost studies
 - ROI case studies
@@ -176,18 +193,21 @@ Identify credible data for calculations.
 Apply chosen methodology to determine total market.

 **For Top-Down:**
+
 1. Find total category size from research
 2. Document data source and year
 3. Apply growth rate if needed
 4. Validate with multiple sources

 **For Bottom-Up:**
+
 1. Count total potential customers
 2. Calculate average annual revenue per customer
 3. Multiply to get TAM
 4. Break down by segment

 **For Value Theory:**
+
 1. Quantify total addressable customer base
 2. Calculate value per customer
 3. Estimate pricing based on value
@@ -198,6 +218,7 @@ Apply chosen methodology to determine total market.
 Narrow TAM to serviceable addressable market.

 **Apply Filters:**
+
 - Geographic constraints (regions you can serve)
 - Product limitations (features you currently have)
 - Customer requirements (size, industry, use case)
@@ -205,11 +226,13 @@ Narrow TAM to serviceable addressable market.
 - Regulatory or compliance restrictions

 **Formula:**
+
 ```
 SAM = TAM × (% matching all filters)
 ```

 **Example:**
+
 - TAM: $10B global email marketing
 - Geographic filter: 40% (North America)
 - Product filter: 30% (e-commerce focus)
@@ -221,6 +244,7 @@ SAM = TAM × (% matching all filters)
 Determine realistic obtainable market share.

 **Consider:**
+
 - Current market share of competitors
 - Typical market share for new entrants (2-5%)
 - Resources available (funding, team, time)
@@ -229,12 +253,14 @@ Determine realistic obtainable market share.
 - Time to achieve (3-5 years typically)

 **Conservative Approach:**
+
 ```
 SOM (Year 3) = SAM × 2%
 SOM (Year 5) = SAM × 5%
 ```

 **Example:**
+
 - SAM: $720M
 - Year 3 SOM: $720M × 2% = $14.4M
 - Year 5 SOM: $720M × 5% = $36M
@@ -244,6 +270,7 @@ SOM (Year 5) = SAM × 5%
 Cross-check using multiple methods.

 **Validation Techniques:**
+
 1. Compare top-down and bottom-up results (should be within 30%)
 2. Check against public company revenues in space
 3. Validate customer count assumptions
@@ -252,6 +279,7 @@ Cross-check using multiple methods.
 6. Compare to similar market categories

 **Red Flags:**
+
 - TAM that's too small (< $1B for VC-backed startups)
 - TAM that's too large (unsupported by data)
 - SOM that's too aggressive (> 10% in 5 years for new entrant)
@@ -262,12 +290,14 @@ Cross-check using multiple methods.
 ### SaaS Markets

 **Key Metrics:**
+
 - Number of potential businesses in target segment
 - Average contract value (ACV)
 - Typical market penetration rates
 - Expansion revenue potential

 **TAM Calculation:**
+
 ```
 TAM = Total Target Companies × Average ACV × (1 + Expansion Rate)
 ```
@@ -275,11 +305,13 @@ TAM = Total Target Companies × Average ACV × (1 + Expansion Rate)
 ### Marketplace Markets

 **Key Metrics:**
+
 - Gross Merchandise Value (GMV) of category
 - Take rate (% of GMV you capture)
 - Total transactions or users

 **TAM Calculation:**
+
 ```
 TAM = Total Category GMV × Expected Take Rate
 ```
@@ -287,11 +319,13 @@ TAM = Total Category GMV × Expected Take Rate
 ### Consumer Markets

 **Key Metrics:**
+
 - Total addressable users/households
 - Average revenue per user (ARPU)
 - Engagement frequency

 **TAM Calculation:**
+
 ```
 TAM = Total Users × ARPU × Purchase Frequency per Year
 ```
@@ -299,11 +333,13 @@ TAM = Total Users × ARPU × Purchase Frequency per Year
 ### B2B Services

 **Key Metrics:**
+
 - Number of target companies by size/industry
 - Average project value or retainer
 - Typical buying frequency

 **TAM Calculation:**
+
 ```
 TAM = Total Target Companies × Average Deal Size × Deals per Year
 ```
@@ -313,6 +349,7 @@ TAM = Total Target Companies × Average Deal Size × Deals per Year
 ### For Investors

 **Structure:**
+
 1. Market definition and problem scope
 2. TAM/SAM/SOM with methodology
 3. Data sources and assumptions
@@ -320,6 +357,7 @@ TAM = Total Target Companies × Average Deal Size × Deals per Year
 5. Competitive landscape context

 **Key Points:**
+
 - Lead with bottom-up calculation (most credible)
 - Show triangulation with top-down
 - Explain conservative assumptions
@@ -329,6 +367,7 @@ TAM = Total Target Companies × Average Deal Size × Deals per Year
 ### For Strategy

 **Structure:**
+
 1. Addressable customer segments
 2. Prioritization by opportunity size
 3. Entry strategy by segment
@@ -336,6 +375,7 @@ TAM = Total Target Companies × Average Deal Size × Deals per Year
 5. Resource requirements

 **Key Points:**
+
 - Focus on SAM and SOM
 - Show segment-level detail
 - Connect to go-to-market plan
@@ -345,26 +385,31 @@ TAM = Total Target Companies × Average Deal Size × Deals per Year
 ## Common Mistakes to Avoid

 **Mistake 1: Confusing TAM with SAM**
+
 - Don't claim entire market as addressable
 - Apply realistic product/geographic constraints
 - Be honest about serviceable market

 **Mistake 2: Overly Aggressive SOM**
+
 - New entrants rarely capture > 5% in 5 years
 - Account for competition and resources
 - Show realistic ramp timeline

 **Mistake 3: Using Only Top-Down**
+
 - Investors prefer bottom-up validation
 - Top-down alone lacks credibility
 - Always triangulate with multiple methods

 **Mistake 4: Cherry-Picking Data**
+
 - Use consistent, recent data sources
 - Don't mix methodologies inappropriately
 - Document all assumptions clearly

 **Mistake 5: Ignoring Market Dynamics**
+
 - Account for market growth/decline
 - Consider competitive intensity
 - Factor in switching costs and barriers
@@ -374,6 +419,7 @@ TAM = Total Target Companies × Average Deal Size × Deals per Year
 ### Reference Files

 For detailed methodologies and frameworks:
+
 - **`references/methodology-deep-dive.md`** - Comprehensive guide to each methodology with step-by-step worksheets
 - **`references/data-sources.md`** - Curated list of market research sources, databases, and tools
 - **`references/industry-templates.md`** - Specific templates for SaaS, marketplace, consumer, B2B, and fintech markets
@@ -381,6 +427,7 @@ For detailed methodologies and frameworks:
 ### Example Files

 Working examples with complete calculations:
+
 - **`examples/saas-market-sizing.md`** - Complete TAM/SAM/SOM for a B2B SaaS product
 - **`examples/marketplace-sizing.md`** - Marketplace platform market opportunity calculation
 - **`examples/value-theory-example.md`** - Value-based market sizing for disruptive innovation
--- a/plugins/startup-business-analyst/skills/market-sizing-analysis/examples/saas-market-sizing.md
+++ b/plugins/startup-business-analyst/skills/market-sizing-analysis/examples/saas-market-sizing.md
@@ -15,6 +15,7 @@ Complete TAM/SAM/SOM calculation for a B2B SaaS startup using bottom-up and top-
 ### Step 1: Define Target Customer Segments

 **Segment Criteria:**
+
 - E-commerce companies (D2C and marketplace sellers)
 - $1M+ in annual revenue
 - North America based
@@ -22,13 +23,14 @@ Complete TAM/SAM/SOM calculation for a B2B SaaS startup using bottom-up and top-

 **Segment Breakdown:**

-| Segment | Annual Revenue | Count | ACV | Priority |
-|---------|---------------|-------|-----|----------|
-| Small E-commerce | $1M-$5M | 85,000 | $3,600 | High |
-| Mid-Market E-commerce | $5M-$50M | 18,000 | $9,600 | High |
-| Enterprise E-commerce | $50M+ | 2,500 | $24,000 | Medium |
+| Segment               | Annual Revenue | Count  | ACV     | Priority |
+| --------------------- | -------------- | ------ | ------- | -------- |
+| Small E-commerce      | $1M-$5M        | 85,000 | $3,600  | High     |
+| Mid-Market E-commerce | $5M-$50M       | 18,000 | $9,600  | High     |
+| Enterprise E-commerce | $50M+          | 2,500  | $24,000 | Medium   |

 **Data Sources:**
+
 - U.S. Census Bureau: E-commerce business counts
 - Shopify, BigCommerce, WooCommerce: Published merchant counts
 - Statista: E-commerce market statistics
@@ -37,11 +39,13 @@ Complete TAM/SAM/SOM calculation for a B2B SaaS startup using bottom-up and top-
 ### Step 2: Calculate TAM (Total Addressable Market)

 **Formula:**
+
 ```
 TAM = Σ (Segment Count × Annual Contract Value)
 ```

 **Calculation:**
+
 ```
 Small E-commerce:   85,000 × $3,600  = $306M
 Mid-Market:         18,000 × $9,600  = $173M
@@ -51,6 +55,7 @@ TAM (North America):                  $539M
 ```

 **Global Expansion Multiplier:**
+
 - North America = 35% of global e-commerce market
 - Global TAM = $539M / 0.35 = $1.54B

@@ -80,6 +85,7 @@ TAM (North America):                  $539M
 **SAM = $169M**

 **SAM Breakdown by Segment:**
+
 ```
 Small E-commerce:   $306M × 0.45 × 0.70 = $96M (57%)
 Mid-Market:         $173M × 0.45 × 0.70 = $54M (32%)
@@ -91,22 +97,26 @@ Enterprise:         $60M × 0.45 × 0.70  = $19M (11%)
 **Market Share Assumptions:**

 **Year 3 Target: 2.5% of SAM**
+
 - Typical new entrant market share
 - Requires strong product-market fit
 - Assumes $10M in funding for GTM

 **Year 5 Target: 5% of SAM**
+
 - Achievable with scale and brand
 - Requires effective sales and marketing
 - Assumes additional funding for growth

 **Calculation:**
+
 ```
 SOM (Year 3) = $169M × 2.5% = $4.2M ARR
 SOM (Year 5) = $169M × 5.0% = $8.5M ARR
 ```

 **SOM by Segment (Year 5):**
+
 ```
 Small E-commerce:   $96M × 5% = $4.8M ARR (565 customers)
 Mid-Market:         $54M × 5% = $2.7M ARR (281 customers)
@@ -117,12 +127,12 @@ Total:                          $8.5M ARR (888 customers)

 ### Bottom-Up Summary

-| Metric | North America | Notes |
-|--------|---------------|-------|
-| **TAM** | $539M | All e-commerce $1M+ revenue |
-| **SAM** | $169M | AI-ready, addressable switching market |
-| **SOM (Year 3)** | $4.2M | 2.5% market share, 495 customers |
-| **SOM (Year 5)** | $8.5M | 5% market share, 888 customers |
+| Metric           | North America | Notes                                  |
+| ---------------- | ------------- | -------------------------------------- |
+| **TAM**          | $539M         | All e-commerce $1M+ revenue            |
+| **SAM**          | $169M         | AI-ready, addressable switching market |
+| **SOM (Year 3)** | $4.2M         | 2.5% market share, 495 customers       |
+| **SOM (Year 5)** | $8.5M         | 5% market share, 888 customers         |

 ## Methodology 2: Top-Down Analysis (Validation)

@@ -132,6 +142,7 @@ Total:                          $8.5M ARR (888 customers)
 **Source:** Gartner Market Share Report (2024)

 **Global Email Marketing Software Market:**
+
 - Market Size: $7.5B (2024)
 - Growth Rate: 12% CAGR
 - Geography: Worldwide
@@ -141,42 +152,47 @@ Total:                          $8.5M ARR (888 customers)
 ### Step 2: Apply Geographic Filter

 **North America Market Share:**
+
 - North America = 40% of global software spending
 - Email Marketing NA = $7.5B × 0.40 = $3.0B

 ### Step 3: Apply Segment Filters

 **E-Commerce Focus:**
+
 - E-commerce email marketing = 25% of total email marketing
 - E-commerce segment = $3.0B × 0.25 = $750M

 **$1M+ Revenue Filter:**
+
 - Companies with $1M+ revenue = 65% of e-commerce market
 - TAM = $750M × 0.65 = $488M

 **AI-Powered Subset:**
+
 - AI-powered email marketing = 35% of market (growing rapidly)
 - SAM = $488M × 0.35 = $171M

 ### Top-Down Summary

-| Metric | Amount | Calculation |
-|--------|--------|-------------|
-| **TAM** | $488M | NA e-commerce email marketing $1M+ |
-| **SAM** | $171M | AI-powered subset |
+| Metric  | Amount | Calculation                        |
+| ------- | ------ | ---------------------------------- |
+| **TAM** | $488M  | NA e-commerce email marketing $1M+ |
+| **SAM** | $171M  | AI-powered subset                  |

 ## Triangulation and Validation

 ### Comparing Methodologies

-| Metric | Bottom-Up | Top-Down | Variance |
-|--------|-----------|----------|----------|
-| **TAM** | $539M | $488M | +10% |
-| **SAM** | $169M | $171M | -1% |
+| Metric  | Bottom-Up | Top-Down | Variance |
+| ------- | --------- | -------- | -------- |
+| **TAM** | $539M     | $488M    | +10%     |
+| **SAM** | $169M     | $171M    | -1%      |

 **Validation Result:** ✅ Excellent alignment (< 2% variance on SAM)

 **Why alignment matters:**
+
 - Bottom-up and top-down within 10% gives high confidence
 - SAM alignment of 1% is exceptional
 - Use bottom-up as primary (more granular)
@@ -185,12 +201,14 @@ Total:                          $8.5M ARR (888 customers)
 ### Public Company Validation

 **Klaviyo (Public, KVYO):**
+
 - 2024 Revenue: ~$700M
 - Focus: E-commerce email/SMS marketing
 - Market Share: ~46% of our SAM
 - Validates large e-commerce email market exists

 **Mailchimp (Intuit-owned):**
+
 - 2024 Revenue: ~$800M (estimated)
 - Broader focus, includes SMBs
 - Significant e-commerce customer base
@@ -219,25 +237,28 @@ Total:                          $8.5M ARR (888 customers)
 ### Market Growth Assumptions

 **Email Marketing Market CAGR: 12%**
+
 - Source: Gartner market forecast
 - Drivers: E-commerce growth, marketing automation adoption

 **AI Subset Growth: 25% CAGR**
+
 - Higher than overall market
 - AI adoption accelerating in marketing
 - More companies seeking AI-powered tools

 ### SAM Evolution (5-Year Forecast)

-| Year | SAM | Growth | Notes |
-|------|-----|--------|-------|
-| 2026 | $169M | - | Starting point |
-| 2027 | $211M | +25% | AI adoption accelerating |
-| 2028 | $264M | +25% | Mainstream adoption begins |
-| 2029 | $330M | +25% | AI becomes table stakes |
-| 2030 | $413M | +25% | Market maturity |
+| Year | SAM   | Growth | Notes                      |
+| ---- | ----- | ------ | -------------------------- |
+| 2026 | $169M | -      | Starting point             |
+| 2027 | $211M | +25%   | AI adoption accelerating   |
+| 2028 | $264M | +25%   | Mainstream adoption begins |
+| 2029 | $330M | +25%   | AI becomes table stakes    |
+| 2030 | $413M | +25%   | Market maturity            |

 **Growing SAM Impact:**
+
 - Year 5 SOM of 5% applied to $413M SAM = $20.6M potential
 - Provides headroom for growth
 - Supports expansion beyond initial 5% share
@@ -247,17 +268,20 @@ Total:                          $8.5M ARR (888 customers)
 ### Market Share Distribution

 **Current Leaders:**
+
 - Klaviyo: ~46% share
 - Mailchimp: ~35% share
 - Others: ~19% share (fragmented)

 **Market Dynamics:**
+
 - Two dominant players
 - Long tail of smaller competitors
 - Opportunity in AI-differentiated positioning
 - Typical SaaS market consolidation pattern

 **Implications for SOM:**
+
 - 5% share requires strong differentiation
 - AI capabilities could drive 10-15% share long-term
 - Acquisition potential if unable to reach scale
@@ -324,22 +348,26 @@ Demonstrates large, proven market
 ## Key Takeaways

 **Market Sizing Results:**
+
 - TAM: $1.5B globally, $539M North America
 - SAM: $169M (North America, AI-ready customers)
 - SOM: $4.2M (Year 3), $8.5M (Year 5)

 **Methodology:**
+
 - Bottom-up primary (most granular and credible)
 - Top-down validation (<2% variance on SAM)
 - Public company validation (Klaviyo, Mailchimp)

 **Investment Implications:**
+
 - Market supports venture-scale outcome
 - 5% market share achievable with strong execution
 - Growing market (25% CAGR) provides tailwinds
 - Competitive but differentiated positioning possible

 **Next Steps:**
+
 1. Validate pricing assumptions with customer research
 2. Refine segment prioritization based on GTM capacity
 3. Update SAM annually as market evolves
--- a/plugins/startup-business-analyst/skills/market-sizing-analysis/references/data-sources.md
+++ b/plugins/startup-business-analyst/skills/market-sizing-analysis/references/data-sources.md
@@ -7,24 +7,28 @@ Curated list of credible sources for market research and sizing analysis.
 ### Premium Research Firms

 **Gartner** (https://www.gartner.com)
+
 - Technology market forecasts and sizing
 - Magic Quadrants for competitive positioning
 - Typical cost: $5K-$50K per report
 - Best for: Enterprise software, IT services, emerging tech

 **Forrester** (https://www.forrester.com)
+
 - Business technology and digital transformation
 - Wave evaluations for vendor comparison
 - Typical cost: $3K-$30K per report
 - Best for: Marketing tech, customer experience, B2B

 **IDC** (https://www.idc.com)
+
 - IT market intelligence and sizing
 - Detailed segment breakdowns
 - Typical cost: $4K-$40K per report
 - Best for: Hardware, software, IT services

 **McKinsey** (https://www.mckinsey.com/featured-insights)
+
 - Free insights and reports
 - Strategic industry analysis
 - Best for: Industry trends, macroeconomic context
@@ -32,21 +36,25 @@ Curated list of credible sources for market research and sizing analysis.
 ### Accessible Research

 **Statista** (https://www.statista.com)
+
 - Cost: $39/month individual, $199/month business
 - Coverage: 80,000+ topics across industries
 - Best for: Quick market size estimates, charts, trends

 **CB Insights** (https://www.cbinsights.com)
+
 - Cost: Custom pricing (typically $10K+/year)
 - Coverage: Venture capital, startup markets
 - Best for: Emerging markets, competitive intelligence

 **PitchBook** (https://pitchbook.com)
+
 - Cost: Institutional pricing
 - Coverage: Private company valuations, M&A, VC
 - Best for: Startup valuations, funding trends

 **Grand View Research** (https://www.grandviewresearch.com)
+
 - Cost: $2K-$5K per report
 - Coverage: B2C and emerging markets
 - Best for: Consumer markets, healthcare, cleantech
@@ -56,21 +64,25 @@ Curated list of credible sources for market research and sizing analysis.
 ### U.S. Government Sources

 **U.S. Census Bureau** (https://www.census.gov)
+
 - Free, authoritative demographic data
 - Economic census every 5 years
 - Best for: Business counts, demographics, spending

 **Bureau of Labor Statistics** (https://www.bls.gov)
+
 - Free employment and economic data
 - Industry-specific statistics
 - Best for: Employment trends, wages, productivity

 **SEC EDGAR** (https://www.sec.gov/edgar)
+
 - Free public company filings
 - 10-K, 10-Q reports with segment revenue
 - Best for: Validating market size with public company data

 **Data.gov** (https://www.data.gov)
+
 - Free government datasets
 - Aggregates across agencies
 - Best for: Specialized industry data
@@ -78,14 +90,17 @@ Curated list of credible sources for market research and sizing analysis.
 ### International Sources

 **OECD** (https://data.oecd.org)
+
 - Free international economic data
 - Best for: Cross-country comparisons

 **World Bank** (https://data.worldbank.org)
+
 - Free global development data
 - Best for: Emerging markets, macro trends

 **Eurostat** (https://ec.europa.eu/eurostat)
+
 - Free European Union statistics
 - Best for: European market sizing

@@ -94,22 +109,27 @@ Curated list of credible sources for market research and sizing analysis.
 Industry associations often publish market research:

 **Software & SaaS**
+
 - Software & Information Industry Association (SIIA)
 - Cloud Security Alliance (CSA)

 **E-commerce & Retail**
+
 - National Retail Federation (NRF)
 - Digital Commerce 360

 **Financial Services**
+
 - American Bankers Association (ABA)
 - Financial Technology Association (FTA)

 **Healthcare**
+
 - Healthcare Information and Management Systems Society (HIMSS)
 - American Hospital Association (AHA)

 **Manufacturing**
+
 - National Association of Manufacturers (NAM)
 - Industrial Internet Consortium (IIC)

@@ -118,21 +138,25 @@ Industry associations often publish market research:
 ### B2B Databases

 **LinkedIn Sales Navigator** ($99/month)
+
 - Company and employee counts
 - Industry filters
 - Best for: B2B customer counting

 **ZoomInfo** (Custom pricing)
+
 - Company databases with firmographics
 - Contact data
 - Best for: B2B TAM calculations

 **Crunchbase** ($29-$99/month)
+
 - Startup company data
 - Funding and employee information
 - Best for: Tech startup markets

 **BuiltWith** ($295-$995/month)
+
 - Technology usage data
 - Website analytics
 - Best for: Technology adoption sizing
@@ -140,14 +164,17 @@ Industry associations often publish market research:
 ### Consumer Data

 **Euromonitor** (Custom pricing)
+
 - Consumer market research
 - Best for: B2C product markets

 **Nielsen** (Custom pricing)
+
 - Consumer behavior and media
 - Best for: CPG, retail, media markets

 **Mintel** (Custom pricing)
+
 - Consumer trends and insights
 - Best for: B2C products and services

@@ -156,11 +183,13 @@ Industry associations often publish market research:
 ### Market Research Aggregators

 **Research and Markets** (https://www.researchandmarkets.com)
+
 - Aggregates reports from 100+ publishers
 - $500-$10K per report
 - Search across all major research firms

 **MarketsandMarkets** (https://www.marketsandmarkets.com)
+
 - Custom and syndicated research
 - $4K-$10K per report
 - Good for niche B2B markets
@@ -168,14 +197,17 @@ Industry associations often publish market research:
 ### Free Search Tools

 **Google Scholar** (https://scholar.google.com)
+
 - Free academic research
 - Best for: Emerging technologies, academic validation

 **SSRN** (https://www.ssrn.com)
+
 - Free working papers
 - Best for: Financial services, economics

 **arXiv** (https://arxiv.org)
+
 - Free preprints in CS, physics, etc.
 - Best for: AI/ML, scientific markets

@@ -184,28 +216,34 @@ Industry associations often publish market research:
 ### Public Company Analysis

 **Yahoo Finance** (Free)
+
 - Public company financials
 - Segment revenue from earnings

 **Seeking Alpha** (Free + Premium)
+
 - Earnings transcripts
 - Analyst estimates

 **Public company investor relations**
+
 - Annual reports (10-K)
 - Investor presentations

 ### Private Company Intelligence

 **PrivCo** (Custom pricing)
+
 - Private company financials
 - M&A transaction data

 **Owler** (Free + Premium)
+
 - Company profiles and news
 - Revenue estimates

 **SimilarWeb** (Free + Premium)
+
 - Website traffic analytics
 - Best for: Online business sizing

@@ -214,28 +252,34 @@ Industry associations often publish market research:
 ### Survey Tools

 **SurveyMonkey** ($25-$75/month)
+
 - DIY surveys
 - Best for: Customer willingness to pay

 **Typeform** ($25-$83/month)
+
 - Conversational surveys
 - Best for: User research

 **Qualtrics** (Enterprise pricing)
+
 - Professional research platform
 - Best for: Large-scale studies

 ### Panel Providers

 **Respondent.io** ($100-$200 per response)
+
 - Recruit professionals for interviews
 - Best for: B2B customer research

 **UserTesting** ($49 per participant)
+
 - User research and testing
 - Best for: Product validation

 **Google Surveys** ($0.10-$3.50 per response)
+
 - Quick consumer surveys
 - Best for: Basic consumer insights

@@ -244,26 +288,31 @@ Industry associations often publish market research:
 When evaluating sources:

 **Authority**
+
 - [ ] Who published the research?
 - [ ] What's their reputation?
 - [ ] Do they have industry expertise?

 **Methodology**
+
 - [ ] How was data collected?
 - [ ] What's the sample size?
 - [ ] When was research conducted?

 **Recency**
+
 - [ ] Is data current (< 2 years old)?
 - [ ] Has market changed significantly?
 - [ ] Are growth rates still applicable?

 **Consistency**
+
 - [ ] Do multiple sources agree?
 - [ ] Are definitions consistent?
 - [ ] Do numbers triangulate?

 **Relevance**
+
 - [ ] Does it match your market definition?
 - [ ] Is geography appropriate?
 - [ ] Are segments aligned?
@@ -271,18 +320,21 @@ When evaluating sources:
 ## Free vs. Paid Strategy

 **Start with free sources:**
+
 1. Government data for customer counts
 2. Public company filings for segment revenue
 3. Trade associations for industry trends
 4. Google Scholar for academic research

 **Upgrade to paid when:**
+
 - Raising institutional funding (investors expect premium sources)
 - Need detailed segment breakdowns
 - Market is niche or emerging
 - Free sources are outdated or insufficient

 **Cost-effective approach:**
+
 - Buy 1-2 key reports that cover your core market
 - Use free sources for triangulation
 - Supplement with primary research (customer interviews)
@@ -293,6 +345,7 @@ When evaluating sources:
 Always cite sources in market sizing:

 **Format:**
+
 ```
 Market Size: $X.XB
 Source: [Publisher], [Report Name], [Date]
@@ -300,6 +353,7 @@ URL: [link if available]
 ```

 **Example:**
+
 ```
 Email Marketing Software TAM: $7.5B (2024)
 Source: Gartner, "Market Share: Email Marketing Software, Worldwide, 2024"
@@ -307,6 +361,7 @@ Note: Includes all email marketing software revenue globally
 ```

 **Include:**
+
 - Publisher and report name
 - Publication date
 - Geography and scope
@@ -316,26 +371,31 @@ Note: Includes all email marketing software revenue globally
 ## Keeping Research Current

 **Set Google Alerts**
+
 - Industry keywords
 - Company names
 - Market terms

 **Follow Research Firms**
+
 - Twitter accounts
 - LinkedIn updates
 - Free newsletter summaries

 **Track Public Companies**
+
 - Earnings calendars
 - Investor relations pages
 - Annual reports

 **Join Industry Groups**
+
 - LinkedIn groups
 - Slack communities
 - Trade associations

 **Review Annually**
+
 - Update market size with new data
 - Adjust growth assumptions
 - Revisit methodology if market changed
@@ -352,6 +412,7 @@ Note: Includes all email marketing software revenue globally
 6. **Triangulate** (15 min) - Compare sources

 **Document everything:**
+
 - Write down all sources
 - Note all assumptions
 - Show your methodology
--- a/plugins/startup-business-analyst/skills/startup-financial-modeling/SKILL.md
+++ b/plugins/startup-business-analyst/skills/startup-financial-modeling/SKILL.md
@@ -20,12 +20,14 @@ Financial modeling provides the quantitative foundation for startup strategy, fu
 Build revenue from customer acquisition and retention by cohort.

 **Formula:**
+
 ```
 MRR = Σ (Cohort Size × Retention Rate × ARPU)
 ARR = MRR × 12
 ```

 **Key Inputs:**
+
 - Monthly new customer acquisitions
 - Customer retention rates by month
 - Average revenue per user (ARPU)
@@ -63,6 +65,7 @@ ARR = MRR × 12
 ### Cash Flow Analysis

 **Components:**
+
 - Beginning cash balance
 - Cash inflows (revenue, fundraising)
 - Cash outflows (operating expenses, CapEx)
@@ -71,6 +74,7 @@ ARR = MRR × 12
 - Runway (months of cash remaining)

 **Formula:**
+
 ```
 Runway = Current Cash Balance / Monthly Burn Rate
 Monthly Burn = Monthly Revenue - Monthly Expenses
@@ -82,11 +86,13 @@ Monthly Burn = Monthly Revenue - Monthly Expenses
 Track headcount by department and role.

 **Key Metrics:**
+
 - Fully-loaded cost per employee
 - Revenue per employee
 - Headcount by department (% of total)

 **Typical Ratios (Early-Stage SaaS):**
+
 - Engineering: 40-50%
 - Sales & Marketing: 25-35%
 - G&A: 10-15%
@@ -97,6 +103,7 @@ Track headcount by department and role.
 ### Three-Scenario Framework

 **Conservative Scenario (P10):**
+
 - Slower customer acquisition
 - Lower pricing or conversion
 - Higher churn rates
@@ -104,12 +111,14 @@ Track headcount by department and role.
 - Used for cash management

 **Base Scenario (P50):**
+
 - Most likely outcomes
 - Realistic assumptions
 - Primary planning scenario
 - Used for board reporting

 **Optimistic Scenario (P90):**
+
 - Faster growth
 - Better unit economics
 - Lower churn
@@ -118,11 +127,13 @@ Track headcount by department and role.
 ### Time Horizon

 **Detailed Projections: 3 Years**
+
 - Monthly detail for Year 1
 - Monthly detail for Year 2
 - Quarterly detail for Year 3

 **High-Level Projections: Years 4-5**
+
 - Annual projections
 - Key metrics only
 - Support long-term planning
@@ -134,18 +145,21 @@ Track headcount by department and role.
 Clarify revenue model and pricing.

 **SaaS Model:**
+
 - Subscription pricing tiers
 - Annual vs. monthly contracts
 - Free trial or freemium approach
 - Expansion revenue strategy

 **Marketplace Model:**
+
 - GMV projections
 - Take rate (% of transactions)
 - Buyer and seller economics
 - Transaction frequency

 **Transactional Model:**
+
 - Transaction volume
 - Revenue per transaction
 - Frequency and seasonality
@@ -161,6 +175,7 @@ Define new customers acquired each month.
 Model customer retention over time.

 **Typical SaaS Retention:**
+
 - Month 1: 100%
 - Month 3: 90%
 - Month 6: 85%
@@ -175,10 +190,12 @@ For each cohort, calculate retained customers × ARPU for each month.
 Break down costs by category and behavior.

 **Fixed vs. Variable:**
+
 - Fixed: Salaries, software, rent
 - Variable: Hosting, payment processing, support

 **Scaling Assumptions:**
+
 - COGS as % of revenue
 - S&M as % of revenue (CAC payback)
 - R&D growth rate
@@ -189,12 +206,14 @@ Break down costs by category and behavior.
 Model headcount growth by role and department.

 **Inputs:**
+
 - Starting headcount
 - Hiring velocity by role
 - Fully-loaded compensation by role
 - Benefits and taxes (typically 1.3-1.4x salary)

 **Example:**
+
 ```
 Engineer: $150K salary × 1.35 = $202K fully-loaded
 Sales Rep: $100K OTE × 1.30 = $130K fully-loaded
@@ -205,6 +224,7 @@ Sales Rep: $100K OTE × 1.30 = $130K fully-loaded
 Calculate monthly cash position and runway.

 **Monthly Cash Flow:**
+
 ```
 Beginning Cash
 + Revenue Collected (consider payment terms)
@@ -214,6 +234,7 @@ Beginning Cash
 ```

 **Runway Calculation:**
+
 ```
 If Ending Cash < 0:
  Funding Need = Negative Cash Balance
@@ -227,22 +248,26 @@ Else:
 Track metrics that matter for stage.

 **Revenue Metrics:**
+
 - MRR / ARR
 - Growth rate (MoM, YoY)
 - Revenue by segment or cohort

 **Unit Economics:**
+
 - CAC (Customer Acquisition Cost)
 - LTV (Lifetime Value)
 - CAC Payback Period
 - LTV / CAC Ratio

 **Efficiency Metrics:**
+
 - Burn multiple (Net Burn / Net New ARR)
 - Magic number (Net New ARR / S&M Spend)
 - Rule of 40 (Growth % + Profit Margin %)

 **Cash Metrics:**
+
 - Monthly burn rate
 - Runway (months)
 - Cash efficiency
@@ -252,12 +277,14 @@ Track metrics that matter for stage.
 Create three scenarios with different assumptions.

 **Variable Assumptions:**
+
 - Customer acquisition rate (±30%)
 - Churn rate (±20%)
 - Average contract value (±15%)
 - CAC (±25%)

 **Fixed Assumptions:**
+
 - Pricing structure
 - Core operating expenses
 - Hiring plan (adjust timing, not roles)
@@ -267,18 +294,21 @@ Create three scenarios with different assumptions.
 ### SaaS Financial Model

 **Revenue Drivers:**
+
 - New MRR (customers × ARPU)
 - Expansion MRR (upsells)
 - Contraction MRR (downgrades)
 - Churned MRR (lost customers)

 **Key Ratios:**
+
 - Gross margin: 75-85%
 - S&M as % revenue: 40-60% (early stage)
 - CAC payback: < 12 months
 - Net retention: 100-120%

 **Example Projection:**
+
 ```
 Year 1: $500K ARR, 50 customers, $100K MRR by Dec
 Year 2: $2.5M ARR, 200 customers, $208K MRR by Dec
@@ -288,16 +318,19 @@ Year 3: $8M ARR, 600 customers, $667K MRR by Dec
 ### Marketplace Financial Model

 **Revenue Drivers:**
+
 - GMV (Gross Merchandise Value)
 - Take rate (% of GMV)
 - Net revenue = GMV × Take rate

 **Key Ratios:**
+
 - Take rate: 10-30% depending on category
 - CAC for buyers vs. sellers
 - Contribution margin: 60-70%

 **Example Projection:**
+
 ```
 Year 1: $5M GMV, 15% take rate = $750K revenue
 Year 2: $20M GMV, 15% take rate = $3M revenue
@@ -307,12 +340,14 @@ Year 3: $60M GMV, 15% take rate = $9M revenue
 ### E-Commerce Financial Model

 **Revenue Drivers:**
+
 - Traffic (visitors)
 - Conversion rate
 - Average order value (AOV)
 - Purchase frequency

 **Key Ratios:**
+
 - Gross margin: 40-60%
 - Contribution margin: 20-35%
 - CAC payback: 3-6 months
@@ -320,12 +355,14 @@ Year 3: $60M GMV, 15% take rate = $9M revenue
 ### Services / Agency Financial Model

 **Revenue Drivers:**
+
 - Billable hours or projects
 - Hourly rate or project fee
 - Utilization rate
 - Team capacity

 **Key Ratios:**
+
 - Gross margin: 50-70%
 - Utilization: 70-85%
 - Revenue per employee
@@ -338,6 +375,7 @@ Year 3: $60M GMV, 15% take rate = $9M revenue
 Based on metrics and comparables.

 **Dilution:**
+
 ```
 Post-Money = Pre-Money + Investment
 Dilution % = Investment / Post-Money
@@ -347,6 +385,7 @@ Dilution % = Investment / Post-Money
 Allocate funding to extend runway and achieve milestones.

 **Example:**
+
 ```
 Raise: $5M at $20M pre-money
 Post-Money: $25M
@@ -362,6 +401,7 @@ Use of Funds:
 ### Milestone-Based Planning

 **Identify Key Milestones:**
+
 - Product launch
 - First $1M ARR
 - Break-even on CAC
@@ -373,26 +413,31 @@ Ensure runway to achieve next milestone + 6 months buffer.
 ## Common Pitfalls

 **Pitfall 1: Overly Optimistic Revenue**
+
 - New startups rarely hit aggressive projections
 - Use conservative customer acquisition assumptions
 - Model realistic churn rates

 **Pitfall 2: Underestimating Costs**
+
 - Add 20% buffer to expense estimates
 - Include fully-loaded compensation
 - Account for software and tools

 **Pitfall 3: Ignoring Cash Flow Timing**
+
 - Revenue ≠ cash (payment terms)
 - Expenses paid before revenue collected
 - Model cash conversion carefully

 **Pitfall 4: Static Headcount**
+
 - Hiring takes time (3-6 months to fill roles)
 - Ramp time for productivity (3-6 months)
 - Account for attrition (10-15% annually)

 **Pitfall 5: Not Scenario Planning**
+
 - Single scenario is never accurate
 - Always model conservative case
 - Plan for what you'll do if base case fails
@@ -400,6 +445,7 @@ Ensure runway to achieve next milestone + 6 months buffer.
 ## Model Validation

 **Sanity Checks:**
+
 - [ ] Revenue growth rate is achievable (3x in Year 2, 2x in Year 3)
 - [ ] Unit economics are realistic (LTV/CAC > 3, payback < 18 months)
 - [ ] Burn multiple is reasonable (< 2.0 in Year 2-3)
@@ -418,6 +464,7 @@ Share model with advisors or investors for feedback on assumptions.
 ### Reference Files

 For detailed model structures and advanced techniques:
+
 - **`references/model-templates.md`** - Complete financial model templates by business model
 - **`references/unit-economics.md`** - Deep dive on CAC, LTV, payback, and efficiency metrics
 - **`references/fundraising-scenarios.md`** - Modeling funding rounds and dilution
@@ -425,6 +472,7 @@ For detailed model structures and advanced techniques:
 ### Example Files

 Working financial models with formulas:
+
 - **`examples/saas-financial-model.md`** - Complete 3-year SaaS model with cohort analysis
 - **`examples/marketplace-model.md`** - Marketplace GMV and take rate projections
 - **`examples/scenario-analysis.md`** - Three-scenario framework with sensitivities
--- a/plugins/startup-business-analyst/skills/startup-metrics-framework/SKILL.md
+++ b/plugins/startup-business-analyst/skills/startup-metrics-framework/SKILL.md
@@ -17,22 +17,26 @@ Track the right metrics at the right stage. Focus on unit economics, growth effi
 ### Revenue Metrics

 **MRR (Monthly Recurring Revenue)**
+
 ```
 MRR = Σ (Active Subscriptions × Monthly Price)
 ```

 **ARR (Annual Recurring Revenue)**
+
 ```
 ARR = MRR × 12
 ```

 **Growth Rate**
+
 ```
 MoM Growth = (This Month MRR - Last Month MRR) / Last Month MRR
 YoY Growth = (This Year ARR - Last Year ARR) / Last Year ARR
 ```

 **Target Benchmarks:**
+
 - Seed stage: 15-20% MoM growth
 - Series A: 10-15% MoM growth, 3-5x YoY
 - Series B+: 100%+ YoY (Rule of 40)
@@ -40,6 +44,7 @@ YoY Growth = (This Year ARR - Last Year ARR) / Last Year ARR
 ### Unit Economics

 **CAC (Customer Acquisition Cost)**
+
 ```
 CAC = Total S&M Spend / New Customers Acquired
 ```
@@ -47,31 +52,37 @@ CAC = Total S&M Spend / New Customers Acquired
 Include: Sales salaries, marketing spend, tools, overhead

 **LTV (Lifetime Value)**
+
 ```
 LTV = ARPU × Gross Margin% × (1 / Churn Rate)
 ```

 Simplified:
+
 ```
 LTV = ARPU × Average Customer Lifetime × Gross Margin%
 ```

 **LTV:CAC Ratio**
+
 ```
 LTV:CAC = LTV / CAC
 ```

 **Benchmarks:**
+
 - LTV:CAC > 3.0 = Healthy
 - LTV:CAC 1.0-3.0 = Needs improvement
 - LTV:CAC < 1.0 = Unsustainable

 **CAC Payback Period**
+
 ```
 CAC Payback = CAC / (ARPU × Gross Margin%)
 ```

 **Benchmarks:**
+
 - < 12 months = Excellent
 - 12-18 months = Good
 - > 24 months = Concerning
@@ -79,6 +90,7 @@ CAC Payback = CAC / (ARPU × Gross Margin%)
 ### Cash Efficiency Metrics

 **Burn Rate**
+
 ```
 Monthly Burn = Monthly Revenue - Monthly Expenses
 ```
@@ -86,6 +98,7 @@ Monthly Burn = Monthly Revenue - Monthly Expenses
 Negative burn = losing money (typical early-stage)

 **Runway**
+
 ```
 Runway (months) = Cash Balance / Monthly Burn Rate
 ```
@@ -93,11 +106,13 @@ Runway (months) = Cash Balance / Monthly Burn Rate
 **Target:** Always maintain 12-18 months runway

 **Burn Multiple**
+
 ```
 Burn Multiple = Net Burn / Net New ARR
 ```

 **Benchmarks:**
+
 - < 1.0 = Exceptional efficiency
 - 1.0-1.5 = Good
 - 1.5-2.0 = Acceptable
@@ -122,6 +137,7 @@ Downgrades from existing customers
 Lost customers

 **Net New MRR Formula:**
+
 ```
 Net New MRR = New MRR + Expansion MRR - Contraction MRR - Churned MRR
 ```
@@ -129,26 +145,31 @@ Net New MRR = New MRR + Expansion MRR - Contraction MRR - Churned MRR
 ### Retention Metrics

 **Logo Retention**
+
 ```
 Logo Retention = (Customers End - New Customers) / Customers Start
 ```

 **Dollar Retention (NDR - Net Dollar Retention)**
+
 ```
 NDR = (ARR Start + Expansion - Contraction - Churn) / ARR Start
 ```

 **Benchmarks:**
+
 - NDR > 120% = Best-in-class
 - NDR 100-120% = Good
 - NDR < 100% = Needs work

 **Gross Retention**
+
 ```
 Gross Retention = (ARR Start - Churn - Contraction) / ARR Start
 ```

 **Benchmarks:**
+
 - > 90% = Excellent
 - 85-90% = Good
 - < 85% = Concerning
@@ -156,21 +177,25 @@ Gross Retention = (ARR Start - Churn - Contraction) / ARR Start
 ### SaaS-Specific Metrics

 **Magic Number**
+
 ```
 Magic Number = Net New ARR (quarter) / S&M Spend (prior quarter)
 ```

 **Benchmarks:**
+
 - > 0.75 = Efficient, ready to scale
 - 0.5-0.75 = Moderate efficiency
 - < 0.5 = Inefficient, don't scale yet

 **Rule of 40**
+
 ```
 Rule of 40 = Revenue Growth Rate% + Profit Margin%
 ```

 **Benchmarks:**
+
 - > 40% = Excellent
 - 20-40% = Acceptable
 - < 20% = Needs improvement
@@ -179,11 +204,13 @@ Rule of 40 = Revenue Growth Rate% + Profit Margin%
 50% growth + (10%) margin = 40% ✓

 **Quick Ratio**
+
 ```
 Quick Ratio = (New MRR + Expansion MRR) / (Churned MRR + Contraction MRR)
 ```

 **Benchmarks:**
+
 - > 4.0 = Healthy growth
 - 2.0-4.0 = Moderate
 - < 2.0 = Churn problem
@@ -193,11 +220,13 @@ Quick Ratio = (New MRR + Expansion MRR) / (Churned MRR + Contraction MRR)
 ### GMV (Gross Merchandise Value)

 **Total Transaction Volume:**
+
 ```
 GMV = Σ (Transaction Value)
 ```

 **Growth Rate:**
+
 ```
 GMV Growth Rate = (Current Period GMV - Prior Period GMV) / Prior Period GMV
 ```
@@ -211,6 +240,7 @@ Take Rate = Net Revenue / GMV
 ```

 **Typical Ranges:**
+
 - Payment processors: 2-3%
 - E-commerce marketplaces: 10-20%
 - Service marketplaces: 15-25%
@@ -228,6 +258,7 @@ How long from listing to sale/match?
 % of users who transact multiple times

 **Benchmarks:**
+
 - Fill rate > 80% = Strong liquidity
 - Repeat rate > 60% = Strong retention

@@ -237,6 +268,7 @@ How long from listing to sale/match?
 Track relative growth of supply and demand sides.

 **Warning Signs:**
+
 - Too much supply: Low fill rates, frustrated suppliers
 - Too much demand: Long wait times, frustrated customers

@@ -253,11 +285,13 @@ Unique users active each day
 Unique users active each month

 **DAU/MAU Ratio**
+
 ```
 DAU/MAU = DAU / MAU
 ```

 **Benchmarks:**
+
 - > 50% = Exceptional (daily habit)
 - 20-50% = Good
 - < 20% = Weak engagement
@@ -275,11 +309,13 @@ Average time spent per session
 **Day 30 Retention:** % users active 30 days after signup

 **Benchmarks (Day 30):**
+
 - > 40% = Excellent
 - 25-40% = Good
 - < 25% = Weak

 **Retention Curve Shape:**
+
 - Flattening curve = good (users becoming habitual)
 - Steep decline = poor product-market fit

@@ -293,6 +329,7 @@ K-Factor = Invites per User × Invite Conversion Rate
 10 invites/user × 20% conversion = 2.0 K-factor

 **Benchmarks:**
+
 - K > 1.0 = Viral growth
 - K = 0.5-1.0 = Strong referrals
 - K < 0.5 = Weak virality
@@ -302,6 +339,7 @@ K-Factor = Invites per User × Invite Conversion Rate
 ### Sales Efficiency

 **Win Rate**
+
 ```
 Win Rate = Deals Won / Total Opportunities
 ```
@@ -312,11 +350,13 @@ Win Rate = Deals Won / Total Opportunities
 Average days from opportunity to close

 **Shorter is better:**
+
 - SMB: 30-60 days
 - Mid-market: 60-120 days
 - Enterprise: 120-270 days

 **Average Contract Value (ACV)**
+
 ```
 ACV = Total Contract Value / Contract Length (years)
 ```
@@ -324,6 +364,7 @@ ACV = Total Contract Value / Contract Length (years)
 ### Pipeline Metrics

 **Pipeline Coverage**
+
 ```
 Pipeline Coverage = Total Pipeline Value / Quota
 ```
@@ -331,6 +372,7 @@ Pipeline Coverage = Total Pipeline Value / Quota
 **Target:** 3-5x coverage (3-5x pipeline needed to hit quota)

 **Conversion Rates by Stage:**
+
 - Lead → Opportunity: 10-20%
 - Opportunity → Demo: 50-70%
 - Demo → Proposal: 30-50%
@@ -341,12 +383,14 @@ Pipeline Coverage = Total Pipeline Value / Quota
 ### Pre-Seed (Product-Market Fit)

 **Focus Metrics:**
+
 1. Active users growth
 2. User retention (Day 7, Day 30)
 3. Core engagement (sessions, features used)
 4. Qualitative feedback (NPS, interviews)

 **Don't worry about:**
+
 - Revenue (may be zero)
 - CAC (not optimizing yet)
 - Unit economics
@@ -354,18 +398,21 @@ Pipeline Coverage = Total Pipeline Value / Quota
 ### Seed ($500K-$2M ARR)

 **Focus Metrics:**
+
 1. MRR growth rate (15-20% MoM)
 2. CAC and LTV (establish baseline)
 3. Gross retention (> 85%)
 4. Core product engagement

 **Start tracking:**
+
 - Sales efficiency
 - Burn rate and runway

 ### Series A ($2M-$10M ARR)

 **Focus Metrics:**
+
 1. ARR growth (3-5x YoY)
 2. Unit economics (LTV:CAC > 3, payback < 18 months)
 3. Net dollar retention (> 100%)
@@ -373,6 +420,7 @@ Pipeline Coverage = Total Pipeline Value / Quota
 5. Magic number (> 0.5)

 **Mature tracking:**
+
 - Rule of 40
 - Sales efficiency
 - Pipeline coverage
@@ -382,12 +430,14 @@ Pipeline Coverage = Total Pipeline Value / Quota
 ### Data Infrastructure

 **Requirements:**
+
 - Single source of truth (analytics platform)
 - Real-time or daily updates
 - Automated calculations
 - Historical tracking

 **Tools:**
+
 - Mixpanel, Amplitude (product analytics)
 - ChartMogul, Baremetrics (SaaS metrics)
 - Looker, Tableau (BI dashboards)
@@ -395,20 +445,24 @@ Pipeline Coverage = Total Pipeline Value / Quota
 ### Reporting Cadence

 **Daily:**
+
 - MRR, active users
 - Sign-ups, conversions

 **Weekly:**
+
 - Growth rates
 - Retention cohorts
 - Sales pipeline

 **Monthly:**
+
 - Full metric suite
 - Board reporting
 - Investor updates

 **Quarterly:**
+
 - Trend analysis
 - Benchmarking
 - Strategy review
@@ -417,6 +471,7 @@ Pipeline Coverage = Total Pipeline Value / Quota

 **Mistake 1: Vanity Metrics**
 Don't focus on:
+
 - Total users (without retention)
 - Page views (without engagement)
 - Downloads (without activation)
@@ -440,12 +495,14 @@ Optimize for real business outcomes, not dashboard numbers.
 ### What VCs Want to See

 **Seed Round:**
+
 - MRR growth rate
 - User retention
 - Early unit economics
 - Product engagement

 **Series A:**
+
 - ARR and growth rate
 - CAC payback < 18 months
 - LTV:CAC > 3.0
@@ -453,6 +510,7 @@ Optimize for real business outcomes, not dashboard numbers.
 - Burn multiple < 2.0

 **Series B+:**
+
 - Rule of 40 > 40%
 - Efficient growth (magic number)
 - Path to profitability
@@ -461,6 +519,7 @@ Optimize for real business outcomes, not dashboard numbers.
 ### Metric Presentation

 **Dashboard Format:**
+
 ```
 Current MRR: $250K (↑ 18% MoM)
 ARR: $3.0M (↑ 280% YoY)
@@ -470,6 +529,7 @@ Burn: $180K/mo | Runway: 18 months
 ```

 **Include:**
+
 - Current value
 - Growth rate or trend
 - Context (target, benchmark)
@@ -477,11 +537,13 @@ Burn: $180K/mo | Runway: 18 months
 ## Additional Resources

 ### Reference Files
+
 - **`references/metric-definitions.md`** - Complete definitions and formulas for 50+ metrics
 - **`references/benchmarks-by-stage.md`** - Target ranges for each metric by company stage
 - **`references/calculation-examples.md`** - Step-by-step calculation examples

 ### Example Files
+
 - **`examples/saas-metrics-dashboard.md`** - Complete metrics suite for B2B SaaS company
 - **`examples/marketplace-metrics.md`** - Marketplace-specific metrics with examples
 - **`examples/investor-metrics-deck.md`** - How to present metrics for fundraising
--- a/plugins/startup-business-analyst/skills/team-composition-analysis/SKILL.md
+++ b/plugins/startup-business-analyst/skills/team-composition-analysis/SKILL.md
@@ -19,6 +19,7 @@ Build the right team at the right time with appropriate compensation and equity.
 **Team Size: 2-5 people**

 **Core Roles:**
+
 - Founders (2-3): Product, engineering, business
 - First engineer (if needed)
 - Contract roles: Design, marketing
@@ -30,6 +31,7 @@ Build the right team at the right time with appropriate compensation and equity.
 **Team Size: 5-15 people**

 **Key Hires:**
+
 - Engineering lead + 2-3 engineers
 - First sales/business development
 - Product manager
@@ -42,6 +44,7 @@ Build the right team at the right time with appropriate compensation and equity.
 **Team Size: 15-50 people**

 **Department Build-Out:**
+
 - Engineering (40%): 6-20 people
 - Sales & Marketing (30%): 5-15 people
 - Customer Success (10%): 2-5 people
@@ -55,15 +58,18 @@ Build the right team at the right time with appropriate compensation and equity.
 ### Engineering Team

 **Pre-Seed:**
+
 - Founders write code
 - 0-1 contract developers

 **Seed:**
+
 - Engineering Lead (first $150K-$180K)
 - 2-3 Full-Stack Engineers ($120K-$150K)
 - 1 Frontend or Backend Specialist ($130K-$160K)

 **Series A:**
+
 - VP Engineering ($180K-$250K + equity)
 - 2-3 Senior Engineers ($150K-$180K)
 - 3-5 Mid-Level Engineers ($120K-$150K)
@@ -73,15 +79,18 @@ Build the right team at the right time with appropriate compensation and equity.
 ### Sales & Marketing

 **Pre-Seed:**
+
 - Founders do sales
 - Contract marketing help

 **Seed:**
+
 - First Sales Hire / Head of Sales ($120K-$150K + commission)
 - Marketing/Growth Lead ($100K-$140K)
 - SDR or BDR (if B2B) ($50K-$70K + commission)

 **Series A:**
+
 - VP Sales ($150K-$200K + commission + equity)
 - 3-5 Account Executives ($80K-$120K + commission)
 - 2-3 SDRs/BDRs ($50K-$70K + commission)
@@ -91,13 +100,16 @@ Build the right team at the right time with appropriate compensation and equity.
 ### Product Team

 **Pre-Seed:**
+
 - Founder as product lead

 **Seed:**
+
 - First Product Manager ($120K-$150K)
 - Contract designer

 **Series A:**
+
 - Head of Product ($150K-$180K)
 - 1-2 Product Managers ($120K-$150K)
 - Product Designer ($100K-$140K)
@@ -106,12 +118,15 @@ Build the right team at the right time with appropriate compensation and equity.
 ### Customer Success

 **Pre-Seed:**
+
 - Founders handle support

 **Seed:**
+
 - First CS hire (optional) ($60K-$90K)

 **Series A:**
+
 - CS Manager ($100K-$130K)
 - 2-4 CS Representatives ($60K-$90K)
 - Support Engineer (technical) ($80K-$120K)
@@ -119,13 +134,16 @@ Build the right team at the right time with appropriate compensation and equity.
 ### G&A (General & Administrative)

 **Pre-Seed:**
+
 - Contractors (accounting, legal)

 **Seed:**
+
 - Operations/Office Manager ($70K-$100K)
 - Contract CFO

 **Series A:**
+
 - CFO or Finance Lead ($150K-$200K)
 - Recruiter ($80K-$120K)
 - Office Manager / EA ($60K-$90K)
@@ -135,6 +153,7 @@ Build the right team at the right time with appropriate compensation and equity.
 ### Base Salary Benchmarks (US, 2024)

 **Engineering:**
+
 - Junior: $90K-$120K
 - Mid-Level: $120K-$150K
 - Senior: $150K-$180K
@@ -143,24 +162,28 @@ Build the right team at the right time with appropriate compensation and equity.
 - VP Engineering: $180K-$250K

 **Sales:**
+
 - SDR/BDR: $50K-$70K base + $50K-$70K commission
 - Account Executive: $80K-$120K base + $80K-$120K commission
 - Sales Manager: $120K-$160K base + $80K-$120K commission
 - VP Sales: $150K-$200K base + $150K-$200K commission

 **Product:**
+
 - Product Manager: $120K-$150K
 - Senior PM: $150K-$180K
 - Head of Product: $150K-$180K
 - VP Product: $180K-$220K

 **Marketing:**
+
 - Marketing Manager: $90K-$130K
 - Content/Demand Gen: $70K-$100K
 - Head of Marketing: $130K-$170K
 - VP Marketing: $150K-$200K

 **Customer Success:**
+
 - CS Representative: $60K-$90K
 - CS Manager: $100K-$130K
 - VP Customer Success: $140K-$180K
@@ -172,6 +195,7 @@ Total Comp = Base Salary × 1.30 (benefits & taxes) + Equity Value
 ```

 **Fully-Loaded Cost:**
+
 - Base salary
 - Payroll taxes (7.65% FICA)
 - Benefits (health insurance, 401k): $10K-$15K per employee
@@ -192,22 +216,26 @@ Total Comp = Base Salary × 1.30 (benefits & taxes) + Equity Value
 ### Equity by Role and Stage

 **Founders:**
+
 - First founder: 40-60%
 - Second founder: 20-40%
 - Third founder: 10-20%
 - Vesting: 4 years with 1-year cliff

 **Early Employees (Pre-Seed):**
+
 - First engineer: 0.5-2.0%
 - First 5 employees: 0.25-1.0% each

 **Seed Stage Hires:**
+
 - VP/Head level: 0.5-1.5%
 - Senior IC: 0.1-0.5%
 - Mid-level: 0.05-0.25%
 - Junior: 0.01-0.1%

 **Series A Hires:**
+
 - C-level (CTO, CFO): 1.0-3.0%
 - VP level: 0.3-1.0%
 - Director level: 0.1-0.5%
@@ -218,6 +246,7 @@ Total Comp = Base Salary × 1.30 (benefits & taxes) + Equity Value
 ### Equity Pool Sizing

 **Option Pool by Round:**
+
 - Pre-Seed: 10-15% reserved
 - Seed: 10-15% top-up
 - Series A: 10-15% top-up
@@ -227,6 +256,7 @@ Total Comp = Base Salary × 1.30 (benefits & taxes) + Equity Value
 Investors often require option pool creation before investment, diluting founders.

 **Example:**
+
 ```
 Pre-money: $10M
 Investors want 15% option pool post-money
@@ -242,6 +272,7 @@ Founders diluted by pool creation before new money
 ### Reporting Structure

 **Pre-Seed:**
+
 ```
 Founders (flat structure)
 ├── Contractors
@@ -249,6 +280,7 @@ Founders (flat structure)
 ```

 **Seed:**
+
 ```
 CEO
 ├── Engineering Lead (2-4 engineers)
@@ -258,6 +290,7 @@ CEO
 ```

 **Series A:**
+
 ```
 CEO
 ├── CTO / VP Engineering (6-20 people)
@@ -279,6 +312,7 @@ CEO
 ### Span of Control

 **Manager Ratios:**
+
 - First-line managers: 4-8 direct reports
 - Directors: 3-5 direct reports (managers)
 - VPs: 3-5 direct reports (directors)
@@ -287,12 +321,14 @@ CEO
 ## Full-Time vs. Contract

 ### Use Full-Time for:
+
 - Core product development
 - Sales (revenue-generating roles)
 - Mission-critical operations
 - Institutional knowledge roles

 ### Use Contractors for:
+
 - Specialized short-term needs (legal, accounting)
 - Variable workload (design, marketing campaigns)
 - Skills outside core competency
@@ -302,12 +338,14 @@ CEO
 ### Cost Comparison

 **Full-Time:**
+
 - Lower hourly cost
 - Benefits and overhead
 - Long-term commitment
 - Cultural fit matters

 **Contract:**
+
 - Higher hourly rate ($75-$200/hour vs. $40-$100/hour FTE equivalent)
 - No benefits or overhead
 - Flexible engagement
@@ -318,12 +356,14 @@ CEO
 ### Realistic Timeline

 **Role Opening to Hire:**
+
 - Junior: 6-8 weeks
 - Mid-Level: 8-12 weeks
 - Senior: 12-16 weeks
 - Executive: 16-24 weeks

 **Time to Productivity:**
+
 - Junior: 4-6 months
 - Mid-Level: 2-4 months
 - Senior: 1-3 months
@@ -335,6 +375,7 @@ Always add 2-3 months buffer to hiring plans.

 **Example:**
 If need engineer by July 1:
+
 - Start recruiting: April 1 (12 weeks)
 - Productivity: September 1 (2 months ramp)

@@ -343,12 +384,14 @@ If need engineer by July 1:
 ### Compensation as % of Revenue

 **Early Stage (Seed):**
+
 - Total comp: 120-150% of revenue (burning cash to grow)
 - Engineering: 50-60%
 - Sales: 30-40%
 - Other: 20-30%

 **Growth Stage (Series A):**
+
 - Total comp: 70-100% of revenue
 - Engineering: 35-45%
 - Sales: 25-35%
@@ -369,10 +412,12 @@ Total: $1.1M
 ## Additional Resources

 ### Reference Files
+
 - **`references/compensation-benchmarks.md`** - Detailed salary data by role, level, and location
 - **`references/equity-calculator.md`** - Equity sizing formulas and dilution scenarios

 ### Example Files
+
 - **`examples/seed-stage-hiring-plan.md`** - Complete hiring plan for seed-stage SaaS company
 - **`examples/org-chart-evolution.md`** - Organizational design from 5 to 50 people