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If you are interested in being funded for your business venture, remember these five things that will lead you to a great business plan:
Show off your amazing history.
Any investor will be aware that they need to see the successes on the business and the executives in the past so they can try to predict if the new business will be successful. If you have been funded in the past, show them how you used your capital to bring …
Market Research
The first thing any investor will want to know about your company is its potential for growth within its market. That means you must find data that reveal the presence of a large, expanding market for your company’s service or product. Furthermore, the data must prove that your product or service is something customers need, not just want.
Depending on the nature of your company, your market research can come from various resources: reports from trade, educational and …
If you want to receive funding from venture capitalists, your business plan must answer three key questions. Here they are:
What are your funding requirements?
Don’t just toss out any figure. Instead, specify the amount you need, but be prepared to operate your business differently, depending on the amount of funding you actually raise. If you prioritize the essentials for your business and identify what can be eliminated, you’ll be prepared to answer a common venture capitalist question: What would …
Creating a business plan can be a daunting prospect, but don’t let it keep you from pursuing the funding you need to get started. You can write a great business plan with relative ease as long as you follow this step by step plan.
1. Make An Outline
Write down the ten sections that every business plan needs and use them as the basis of your outline. These sections are: Executive Summary, Company Analysis, Industry Analysis, Customer Analysis, Competitive Analysis, …
A good business plan is based on solid data and not merely an idea. For entrepreneurs who are highly creative and idea driven this may come as a slap in the face. If you are an entrepreneur with a creative side all is not lost, you can still prove to investors that your idea is worth banking on, simply put your research skills to work to obtain the supporting details!
A business plan is built upon three major elements, these …
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