Always Submit a Professional Business Plan!
Preparing and presenting a professional business plan to an investor is not an option if you intend to be successful! So I can hear the next question you have is what does that mean exactly? Can't I take my figures and notes and just submit them to the investor? Sure you can do that but, it may be the last time you get a chance to present something to them.
Investors want a business plan that tells a story of every piece of the business process. This includes who the management will be and their qualifications, to financial forecasts that are realistic. This story is very important to the process and needs to be in a professional business plan format.
Let's talk about the management team first!
Let's talk about the management team first. A business plan will outline who the management team is even if it is just you. In this portion of your business plan you will outline your qualifications to give confidence to any potential investors. However, I would not recommend just stating how many years you have doing this. On the flip side I would stay away from turning it into a resume. Remember it is a story.
Forecasting realistic first year numbers by month is also a must in a professional business plan. Small business planning software will be a big help when it comes to laying this out for you. Of course the business planning software does not create these numbers for you. They just assist with asking for information and then presenting it in a proper business plan presentation. Do the work and use solid financial information that will continue telling the story.
Sales and marketing are another critical part!
Sales and marketing are another critical part of a business plan. Your plan must layout who your customer is, where they will come from, and why will they choose you over your competition? Don't fool yourself on this one either. Without actual sales you will not stay in business! I don't care if you have the best product in the world and make 100% profit on every sale. If you don't sell any you will not be in business long at all. This part of the plan better be solid and factual.
So you have your work cut out for yourself! A business planning software will lead you to a professional business plan, but the information must be researched. There is no simple way to do that except that it must be done. Kind of like living to 100 years old! In order to do that you must live each day at a time, one after the other. No short cuts. No simple way but to do it!
May God Bless You and Good Luck!
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