Shutterstock Images I started investing in start-ups in and have seen plenty of business plans. I get them from people who are seeking some of my money and from entrepreneurs who are starting a capital raising campaign. Unless you have a spectacular track record as an entrepreneur or an exceptionally great new business idea, you cannot raise capital without a business plan.
You've got the idea, now package it well! The way you present your company and vision will determine whether you get the right financial partners and the right deal. Marketing Your Idea Life is marketing. We're constantly being pitched to as consumers, yet we also market our products, our ideas, and ourselves personally and professionally.
But where do so many early-stage entrepreneurs go wrong? They fail to sell their start-up effectively. The business plan, executive killer business plan, and financing pitch are the ultimate marketing tools. Marketing your start-up well results in getting optimal investors, more favorable financing terms, outstanding executives, committed customers and more -- in other words, a shot at success in today's extremely competitive market.
Writing a business plan doesn't have to be agonizing -- there can be some fun in doing it. Discusses how the cost of acquiring customers frequently is the cause of startup failure. For a viable business model, LTV must exceed cost of customer acquisition. (LTV= . Samples of Killer Business Plan Writing a business plan is no easy task, it takes a lot of time, effort and most importantly, research. On the other hand, not all business plans are created equal.
As a former entrepreneur and a start-up consultant today, I've certainly seen more business plans than I care to remember. Of the more than 30, high-tech business plans submitted to venture capitalists last year, less than 3 percent were funded.
The plans were either for products or services no one truly needed, or the plans were for great ideas that were not presented well. I see far too many of the latter.
What a shame to have a brilliant idea, and the right process of execution, only to poorly communicate that idea. Make your business plan shine with the three "Cs" to success: Be Concise A concise plan provides a simple explanation for why the business is a great idea, as well as how it will be executed.
The optimal length is 20 pages, but 30 is acceptable. This includes the three to five pages for the executive summary, but does not include the appendices only include relevant info here to support claims made in the plan. Few investors will read the plan in its entirety. Remember, the goal of the business plan is for the entrepreneur to explain the company they want to build so they will a be able to condense it and render an executive summary that the investors will read and b have a basic execution plan for the company.
Be Compelling The goal is to make your company appear to be deeply compelling. A compelling opportunity is optimized by the right deal, with the right price, at the right time, with the right product or service, and the right team.
Compelling deals always get financed with favorable terms. Be Complete You must have a trusted third party review your plan to ensure it addresses all possible issues an investor may have.
An incomplete plan, such as one that lacks three years' worth of financials, a marketing or sales strategy, or a section describing the first few releases of a product and the high-level technology strategy, makes it look like the entrepreneur hasn't thoroughly thought out their business.
This makes them look either unprofessional, fly-by-night, or both. Be complete -- it will help you gain the trust of all who read your plan. A Lesson to Remember Here's a sample paragraph from an executive summary I read a while ago: Freight trucks in America travel 30 billion miles empty each year.
This inefficiency costs distributors hundreds of millions of dollars in unnecessary freight-handling costs, such as scheduling one-way trips and paying for last-minute loads.
Our browser-based software matches empty containers with loads that need to be moved nationwide. By using our software, distributors and manufacturers can save millions of dollars in the first year of use alone. The distributors and manufacturers are under extreme pressure from their executive management to reduce their inefficient freight costs by 10 percent annually for the next three years.
Our team of seasoned freight, distribution, and manufacturing executives think we can capture a minimum of 1 percent of the market over the next three years. Huge pain, customers empowered to remove it, the right team to make it happen, and the potential for a glorious exit.
What's not to like? The entrepreneurs missed the "complete" part. The plan that backed up this fantastic opportunity lacked execution detail and thus has yet to be funded after two years of seeking capital. If you keep the three Cs in mind, you'll avoid falling into this trap.
Getting a Successful Start: Must-Dos and Mistakes So now you're ready to create a killer business plan, which will yield a killer executive summary and financing pitch. You'll want to leverage your plan by using the content later for sales presentations, marketing collateral and white papers, recruiting pitches, and website content.
Here's how to do it: Do not use a business plan package.This article is part of both our Business Startup Guide and our Business Planning Guide —curated lists of our articles that will get you up and running in no time!.
If you’ve reviewed what a business plan is, and why you need one to start and grow your business, then it’s time to dig into the process of actually writing a business plan.. In this step-by-step guide, I’ll take you. Killer Business Plan [Peter Mehit, Lydia Mehit] on kaja-net.com *FREE* shipping on qualifying offers.
When people think about starting a business, writing a business plan is usually the last thing they consider. It's exciting to dive into details. An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content.
Even if you are creative, passionate, charming and have amazing business ideas and skills, you can still be unprepared for many of the opportunities that come your way.
If any of your distinct. Tips to Write a Killer Business Plan. If you're committed to starting or growing your business, you need a business plan. Even if you don't need investment. Love Is the Killer App: How to Win Business and Influence Friends [Tim Sanders] on kaja-net.com *FREE* shipping on qualifying offers.
Are you wondering what the next killer app will be? Do you want to know how you can maintain and add to your value during these rapidly changing times? Are you wondering how the word love can even be used in the context of business?