The professionals that I have researched while developing my business plan have all shared many great tips that are only going to make my plan that much better. Tim Berry shared that having a background and experience within the industry your plan falls in is very important. This is the number one this I am currently working on while developing my plan. Although it does not have to do with physically writing the plan it will help my management section become much stronger. Having a lengthy list of experience within the industry in my description in this section will help to prove to investors that I am qualified and knowledgeable regarding everything my business wishes to do.
Also shared by Tim is how important realistic financial projections are. This is a section of the plan that I am going to improve over the next month. With deeper research and speaking with companies similar to mine, I will be able to develop more accurate financial projections. This will in turn prove to investors that there is a opportunity to make a return on their investment and then some.
When it comes down to it I really think there are three sections that an investor really cares the most about. My bases for this comes from these questions: Who are you? What do you do? How much will it cost? Will I make money? I think as an investor reviewing a plan these are the main questions that I would be looking to answer while reading threw a business plan. So with these being the major points, I believe the key sections would be the executive summary, management section, and the finances.
The executive summary is a great run down of what is included in the plan, and allows readers to really get an understanding about the company and what it is all about, which covers our what do you do question. Next the management section helps to show that they can trust you with their money and you have the skills needed to make it all happen, answering the question who are you. And lastly finances and projections answer the most important thing investors what to know is how much of my money do you want anyway?
No comments:
Post a Comment