1. Write an Outline
The easiest way to write a business plan is to use the standard format. There are ten sections which should be included in any business plan. In order, these are: Executive Summary, Company Analysis, Industry Analysis, Customer Analysis, Competitive Analysis, Marketing Plan, Operations Plan, Management Team, Financial Plan and an Appendix. Make an outline by filling in the details you already know about each section and stick with this format, since potential investors are familiar with … Read the rest
Archive for November, 2011
1. Write an Outline
Entrepreneurs are almost always in need of capital specifically money for their for-profit operations. Unfortunately, money for business can be difficult to find especially with the current state of the economy where business confidence is at an all-time low. The good news is that angel investors can come to the rescue under certain conditions.
But before rejoicing at the news, it is always a good idea to step back and see the whole picture. Tapping into the so-called angel network … Read the rest
As you seek the backing of venture capitalists, private equity firms, angel investors or traditional debt capital for your new venture, there is one thing which every potential investor or lender will look at: your business plan. An investor who wants to learn more about your company will invariably ask you for your business plan. If you can get their interest, they will read the whole thing – and how well you make the case for your company will have … Read the rest
There are just 750 venture capitalists companies in the U.S., and more than 600,000 new companies started annually. Now that’s competition. In order to attract a VC and grow your business into a lucrative exit by getting the funding you need, follow these tips:
1. Hold the Pain cure.
The market has pain, but where is the pain? That is what you need to ask yourself. Identify a segment of the market that needs your service or product and is … Read the rest
What you must remember when doing market research is the fact that collecting the right data is the most important thing. Collecting this data allows you to understand your customers, which gives you the chance to tailor your products to meet their needs. Keep in mind that your competitors are doing the exact same thing at the exact same time, so you are in competition for this information as well. Therefore, make sure that you make the right choices when … Read the rest
A business plan has many functions and serves several purposes, not the least of which is introducing your company to potential investors. As such it should be well organized and answer some pertinent questions. It is also a place to organize your ideas and set up some management guidelines.
That being said, lets review each section of a business plan.
Is your Executive Summary compelling, concise and clear? It must succinctly outline what your business does and who the customers … Read the rest
When it comes to funding a large business venture, venture capital is the best way to do so. Usually venture capitalists are people who manage large pools of funds for a number of investors, and they can be the best source of financing your business endeavor. Usually venture capitalists will only invest in a business that has potential for huge profit, so it is vital that you are prepared when making a presentation to venture capitalists.
Before beginning a business plan, it is important to lay the pen aside and take stock. Any writer worth their salt will tell you this is a necessary part of the process. A business plan starts, not with pen and paper but with research. Do some reconnaissance on the market for your service or product and the competition! Once you have completed the research it is time to develop your strategy, calculate revenues and costs, draft the plan and fine … Read the rest
If you are an entrepreneur, you already realize that a professional business plan is essential to raising capital.
A very common question asked about the business plan involves the length, just how long should a good business plan be?
If you are wondering about the proper or optimum length there is a simple rule, it should not be longer than is necessary to spark the interest of financial investors – but not so short that your investors are left wondering … Read the rest
When starting out in the business world, market research holds all kinds of importance. What marketing research does is give you an idea if others will purchase your products or not, so you really cannot survive without it. If you are introducing a new product to the marketplace, this research will inform you if people will respond favorably to your product or service. If the product is already in the marketplace, this research can help you decide whether or not … Read the rest