A Good Business Plan

A Good Business Plan-14
This means you’ll have to be very specific about your business model, because investors get hundreds of business plans every month, so make sure your business plan stands out from the crowd.We recommend, you ask your friends and family for input on how to improve your business plan.

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A business plan is a 30-40 pages long description of how you want to build your company.

In the business plan you want to explain what customers you want to target via which marketing channels, what makes you different from competitors, who the management team is, how you are going to make a profit, and what the milestones are for achieving your business plan.

A business plan helps you to: You’ll need a business plan if you want to secure investment or a loan from a bank.

Read about the finance options available for businesses on the Business Finance Guide website.

After each investor meeting, use their feedback for sharpending your pitch and business plan.

A good quality business plan will increase your chances of getting funded.For pitching equity investors you should focus on the disruptive factors and upside potential of your business while for debt investors you should clearly state the risks and position yourself as a risk minimizer (I mean, your business has no risk it cannot handle, hasn’t it 🙂 ).There is no perfect blueprint for a good business plan, but the following elements are definitely part of a good business plan.A lost of people think, they don’t have competitors. Either you have competitors that offer a similar product or at least you will competitors who try to solve the customer problem in another way.Show the investors in your business plan how you will position your business in comparison to the competition.Furthermore, you should show that your team is complementary meaning that the management team should have different backgrounds; this helps in making hard decisions as the whole team sees the problem from different perspectives.PROBLEM First, you need to specify what problem you would like to solve with your business. The more precise you describe the problem, the better your solution will be and thereby you will increase your chances of success.Here you describe how your product or service solves the problem.Make sure you describe why your product or service solves the problem in a more effective or efficient way, so you will have a value proposition over competitors.So, in a nutshell a good business plan follows the following story.Why make the effort and writing 30-40 pages when you could focus on product development or sales?

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