Hi Sai,
Nice starter material. For the development into a bosai it is perhaps an idea to balance the branches. The tree now just looks like a tree placed at an angle in a pot. If you balance the branches and level them out, you can start to create foliage pads, and the tree would look more natural.If you prune the branches, they should start to create some more branches and will offer you the option to add some ramnifiation. I think getting this developed in a bonsai within the next 6 months might be pushing it though, unless you are in the tropics or have access to a warm moist greenhouse with added light.
Top get some idea on shohin, have a look here:
www.westcoastbonsai.com/Articles/article.Shohin.html