A business plan is designed to attract investment to start a new business or expand an existing one. It is commonly said that 9 out of 10 business plans have been rejected because VCs or angels consider them unattractive or not good. So what it takes to create a business plan that can produce results. Here are some points
as well. Talk to the people who were there and did it. This gives you a new perspective on your way of looking at the company. Teachers in business cells and venture capitalists can also share great ideas to get it going.
B. Another important factor before proceeding is to understand if a business idea is profitable. You can travel far and create a great business plan to realize that there is a malfunction alone. Perfect your idea and business model before you start taking photos.
to. If you are sure that you have written a great plan yourself, do it yourself. However, if words like marketing, finance or strategy do not ring the bell, you should hire a great writer. However, you should clearly state all your goals and share it with a professional business plan writer.
D. Key sections of the plan should include a summary, market potential, marketing strategies, competition, and finance.
my. Venture capitalists and angels are interested in numbers. They want to see how the company will grow in 3 years (preferably when they want to leave). You have to do homework to defend the numbers that have been put into the plan. If it is a business, you can extrapolate your current income. However, if it is a new business, good market analysis and research should be done.
FA. If you are unsure about financial forecasts and break even analysis, consult an expert in business plans. They will help you finance your business model.
Sun. Do not forget the “look” of your business plan. Every venture capitalist wants to see a plan that is well designed looks great.
After several presentations, if you need to change the plan again, change it accordingly. Someone may want to see some parts made differently. In my conversations with Venture Capitalists I have always said that they always want to see “Proof of Concept” along with a business plan. So if you can show them a prototype work for the software or specific business tips that will help you. This is also the reason is why doing business is easy. So move forward with confidence and prepare a business plan. They will fail, but as they say, “failures are the basis of success.” Glad the best