A Business Plan!
Not only is this document absolutely essential to get any kind of financing for your business, but it also serves as a reference point for your company’s vision, objectives, cash needs, operational style and marketing plan. In short, your business plan should provide the answers to three broad questions:
- Why is your market going to purchase your product or service today, tomorrow and in the future?
- How are you going to attract your market and make investors a return?
- Is this product or service realistically going to compete in the competitive landscape, and if so, where does it fit in?
What you need: business plan and related documents
- Cocktail party 1-liner
- 1-paragraph description of value proposition
- 2-3 page executive summary
- Full Business Plan (20-25 pages, plus appendices)
- Comprehensive Financial Model
- Action plan for next 90 days
- Milestone plan for next 18 months
- Website online and up-to-date
What you also need: your investor presentation
- 20-30 minute version
- 8-10 minute version
- 30-60 Second Elevator Pitch
We can help you develop your business plan. There are also many free templates online, some of which are great and some of which are not so great!
We have two great blog series upcoming:
- Blog Series 1: Most Common Business Plan and Pitch Mistakes Made by Entrepreneurs
- Blog Series 2: What Actually Goes Into a Business Plan?
So stay tuned!