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Get ready. Get set. Just don’t start putting ink on your business plan just yet. Since your business plan is so important in securing funding and moving your business forward for substantial success, you don’t want to rush into the writing process.
Take the time to prepare by doing the following:
Understand the basic format of a business plan and why this format is so important
Solidify your business concept and make sure you know what you want to do…
You put hours of sweat and tears into your business plan, and when it is finally laid out perfectly you don’t want to touch it again. You want to put it in the hands of investors and wait eagerly for their reactions. You have done your homework and gotten feedback from professionals you trust, and now you are finished with the planning phase of your business, right?
As much as you want to just be done with business planning, you …
Every entrepreneur needs to have a business plan, especially when it comes to securing additional funding. A solid business plan not only makes it easier to stay on track with development, it can convince investors that your business is worth their support. If the concept of creating a detailed business plan from scratch seems intimidating and overwhelming, it’s a good idea to start with an outline that you can fill in later when you have all the required information. Breaking …
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 …
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