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Prepare a Business Plan.BY: Geoffrey Roberts | Category: Others | Submitted: 2010-09-10 01:12:26
When deciding to prepare a business plan it is wise to have an empathatc view, considering the investor you are hoping to attract. Is it a financial input you require or a more business coaching type role you and the business will require? Tailor the business plan accordingly for your scenario without omitting vital facts and data such as the details of the business and type, markets, finances, forecasts and so on. Also, bear in mind your own personal exit strategy and what you need to do to get out of the business at the right time with the reward you have in mind. People often forget this when considering a business plan and future business sale. Furthermore, remember investors will focus on the following points generally, though they will vary depending on the market the business is in. Finance - be factual and know your numbers. The easiest way to turn a potential investor away is to not be perfect with the numbers, both current and for forecasted results. Experience - again be honest. Not just with regard to your strengths and experience, but also that of your management team. Industry/sector - is your product unique, is it cheaper than competition, is it better? What will excite the potential investor? Why will it be a success? Competition - know your competition. If you do not know your market how will you be able to position your business accordingly? Knowledge is vital for your marketing and pricing, it is partly what you will base your strategy on for launch. Return - what is in it for the investor. What returns are forecast, how long to recover his investment? What percentage is forecast? Probably most importantly, have an exit strategy in place to include finance and timing. Remember, investers and entrepreneurs normally like to move forward and invest in many business areas. Capital is king and is always required for new projects for successful investors. The balancing act of keeping investors happy along side of your own personal requirements is difficult, but should not be underestimated. Article Source: http://www.writearticles.org/ About Author / Additional Info: http://www.e-businessbrokers.co.uk/article-category.asp http://www.e-businessbrokers.co.uk Comments on this article: (0 comments so far)
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