Write a Business Plan - Nah! I Can Do That Myself (and Why You Shouldn't)
There are three reasons why you need a business plan… To obtain funding. Every good potential lender or investor, be they bank, angel investor, venture capitalist or business partner, will require a business plan. They want to be comfortable that you have thought long and hard about your business rather than jumping straight into a business. More importantly they want to ensure that they have a good chance of not only having their investment returned, but also making a profit out of the arrangement. Your business plan is your sales tool – it explains your business and your strategies to make this business a success. It shows how detailed and organized you are and how you intend to make a success of your business. To introduce your business to potential investors. The Executive Summary in undoubtedly the most important part of your business plan. Investors receive hundreds of business plans. They decide on their initial sort of who they want to investigate more thoroughly, by...