September 29, 2010
How A Good Business Plan Can Help You Raise Money
You have decided to start your own business and one of the steps to be completed is the Business Plan. Why do you need it, since you have got the vision, the necessary knowledge and an excellent team of specialists? Well, the plan will guide you through the complicated business process. It is your road-map to success. That is why you need to consider projections for the following three to five years. More than that, you need to permanently update and revise your plan, as the market is continuously changing. Flexibility, the capacity to adapt and face challenges, as well as execution skills are key crucial features of an entrepreneur.
What Do I Need to Write in My Plan?
Before plunging into details you should be able to make a coherent structure. There will be a business overview section, including activity sector, the legal structure and technology used. Points you also need to include and develop are market analysis, operations and financial plans, a description of your products or services, background information for your team, sales and marketing strategies and projected income statements.
How Can a Business Plan Help Me Raise Capital?
After using your own savings, as well as money from family and friends, you realize that you still need capital to transform your innovative idea into a real venture. Whether you decide to appeal to angel investors or to VC firms, the business plan is also the tool that will help you build a financial relationship. Yes, it will help you raise money. What you are supposed to present to prospective business investors is an executive summary of your business plan. If they are enticed by the skillfully highlighted advantages of making a partnership, they will go further for a pitch.
Is There a Secret Ingredient?
There are so many great business ideas out there that do not get funded for a clear reason â€“ investors have not been convinced that the respective ventures have real chances of providing a high return on investment. If investors do not understand what your business is about and they lose interest after reading the first pages, your plan will end up in a pile of papers, eventually in the bin. You need to be able to meet their expectations and grab their attention. They invest primarily for financial reasons. Prove you have the potential for good revenue, that is the secret ingredient.
What if you have somebody else write your plan, such as consultant? Will you be sure there will be no leaks and you idea will not become source of inspiration for a competitor? Will any consultants be able to fully understand and define a vision that does not belong to them? What about dealing with writing the plan yourself?
Is There a Template I Can Personalize?
Possible questions that will surely arise during the writing process: Can I make sure my business plan has a clear structure and a suitable format? Is there a way to check if I have included all the necessary details? Will I be able to finish it quickly? The answer is simple â€“ you can finish your business plan today using a Business Plan Template. You will avoid the daunting work that can be so tedious and demotivating and have time to focus on other aspects as well, such as finding suitable investors. Thousands of successful entrepreneurs have already used this template. It will work for you, so seize the opportunity and take action! Download now your Business Plan Template.
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