Preparing a business plan for a startup venture

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Preparing a business plan for a startup venture

Are you looking to raise venture capital? You need a good idea — and an excellent business plan. Business planning and raising venture capital go hand-in-hand. A business plan is required for attracting venture capital.

But how exactly will your business plan persuade investors to sign a check? This article provides advice on how to position each section of the business plan for an investor audience. Executive Summary Goal of the executive summary: Stimulate and motivate the investor to learn more.

Hook them on the first page. Most investors are inundated with business plans. Your first page must make them want to keep reading. After reading the first page, investors often do not understand the business.

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If your business is truly complex, you can dive into the details later on. The executive summary should be 2 to 4 pages in length. Company Analysis Goal of the company analysis section: Provide the background on the company, including date of formation, office location, legal structure, and stage of development.

Show off your track record. Detail prior accomplishments, including funding rounds, product launches, milestones reached, and partnerships secured, among others. Prove that there is a real market for your product or service.

What is a 'Business Plan'

Demonstrate the need — rather than the desire — for your product. Ideally, people are willing to pay money to satisfy this need. Cite credible sources when describing the size and growth of your market.

If possible, source research through an independent research firm to enhance your credibility. For general market sizes and trends, we suggest citing at least two independent research firms. For example, if you sell a portable biofeedback stress relief device, your relevant market is not the entire health care market.

In determining the relevant market size, focus on the products or services that you will directly compete against. Be sure to explain how your company would overcome potential negative trends. Be prepared for due diligence. Customer Analysis Goal of customer analysis section: Define your customers precisely.

How many customers fit the definition? Where are these customers located? What is their average income? Identify the needs of these customers.

Explain what drives their decisions.

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For example, is price more important than quality? Detail the decision-making process. For example, will the customer seek multiple bids? Will the customer consult others in their organization before making a decision?

Competitive Analysis Goal of the competitive analysis section: Define the competition and demonstrate your competitive advantage. Many companies make the mistake of conveying that they have few or no real competitors."We would make revisions to our plan after every meeting with a potential investor, because sophisticated investors would ask questions we hadn't thought of, causing us to go back and refine the.

5 Template courtesy of The Crucial Areas of the Business Model [Your business model is the core concept upon which you build your business model business model should be a significant portion of your business model plan.

Launching a new enterprise—whether it’s a tech start-up, a small business, or an initiative within a large corporation—has always been a hit-or-miss proposition.

According to the decades-old. The 30 Day Small Business Startup Plan: Find Out if You Have What it Takes to Be Your Own Boss and Achieve Financial Freedom: (Work from Home Series: Book 8) Kindle Edition. Here are five good reasons why you should write a business plan when starting a new business.

preparing a business plan for a startup venture

01 Be prepared for your business plan to be scrutinized; both venture capitalists and angel investors will want to conduct extensive background checks and competitive analysis to be certain that what's How to Prepare an Investor-Ready Business.

BREAKING DOWN 'Business Plan' A business plan is a fundamental tool that any startup business needs to have in place prior to beginning its operations. Usually, banks and venture capital firms.

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