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Dale Carnegie said, ``Most of the
important things in the world have been accomplished by people who have kept on trying
when there seemed to be no help at all." There will be times when you
will feel this way as you try to fund your new venture. Perhaps this article will
give you an easier time with the basics. And if you run up against an obstacle,
drop me a note and I'll try to help, time
permitting.
What to Expect
You're going to have to work and work hard on your business plan. There's no way
around it if you want it to do the job. Have you ever written a major business
report or proposal or strategic plan? If not, consider hiring a business or
technical writer to help you with that part so you can be free to gather and organize the
information. It will save you a lot of grief. If you're going to write it yourself,
here's what you'll need to do to get ready.
- Do your homework. A business plan
gives prospective investors the facts about your concept and ability to deliver, but it
also demonstrates how you think through a problem. This is important to investors
who may not know you.
- Determine your audience and get facts to
support your idea that will matter to the audience of potential investors you are trying
to reach. The Roman poet Ovid said, ``Everyone is a millionaire where promises are
concerned." It takes proof, not claims, to convince an investor to write a
check.
- Rewrite your resume to emphasize the
skills needed to make your venture succeed. A business plan is like a management
team resume with financial projections. An investor wants to know that the people
behind the idea have the expertise to make it happen.
- Give a structured presentation in a
factual way. Even if your idea involves creativity or leading edge technology or a
radically new concept, the people with the checkbooks still need a document that is full
of substance, easy to read and simple to understand. In this case the rule is
substance over form. That is why you will work harder than you think on your business
plan.
About Kaye
Copyright 1997 by Kaye Vivian (kvivian@cloud9.net). All rights
reserved. |
