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For investors, you'll also want to show how each member is qualified to fulfill their duties.For example, you'll get more investor confidence if your key members have a proven track record in running a business or working in the industry.
You'll also want to show how you plan to pay back debt and when you expect to be profitable. Funding needs If you are looking for investors, how much do you need and how exactly are you going to use the funds? Once you have your Business Plan made, try to look at it as if you were a stranger to your business.
Have a few respected colleagues read through it as well and tell them not to be nice, but to find as many weak areas as they can.
Making a Business Plan does not need to be a laborious task.
Using our Business Plan interview you can build a professional plan, specific to your state, with minimal effort if you know your business well.
One way to perform this analysis is to create a side-by-side comparison sheet.
Using this type of document, you can compare pricing, product offerings, web presence, user review scores, size of business and market reach, customer profiles and more depending on your business.
You'll also want to map out your marketing schedule and how you plan to pay for everything. How much of the seed money will be from your own savings? But your investors, unless they are family or friends, are going to look at it objectively.
Financial plans You'll need to map out how you plan to finance your business. Investors will also want to know if you plan to take on additional debt or if other investors are involved. This is one of the reasons you need a Business Plan capable of surviving intense scrutiny.
If you want to open a coffee shop across the street from another coffee shop, you'll need to be able to explain why that makes sense.
You should be able to describe your market in quantifiable terms, like how many potential customers are in the market and what you expect them to spend.