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What should be included in a business plan?
Too many business plans are written solely from the viewpoint of the third constituency—the producer. They describe the underlying technology or creativity of the proposed product or service in glowing terms and at great length.
How to write a winning business plan for a startup?
From there, assemble a credible sales plan and project plant and staffing needs. Cashing out. Show when and how investors may liquidate their holdings. Venture capital firms usually want to cash out in three to seven years; professional investors look for a large capital appreciation.
Who are the people in a business plan?
1 The market, including both existing and prospective clients, customers, and users of the planned product or service. 2 The investors, whether of financial or other resources. 3 The producer, whether the entrepreneur or the inventor.
Do you have to have a business plan to get investment?
The business plan admits the entrepreneur to the investment process. Without a plan furnished in advance, many investor groups won’t even grant an interview. And the plan must be outstanding if it is to win investment funds.
Last Update: Oct 2021
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