Droplets of Wisdom

When it comes to creating our business plan, we should consider following advice from those who have experience and have become experts in business. In Experts Views On Business Plas we can see and research about what these experts have done to attract investors and to build their businesses successfully.

Having read Andrea's recommendations about business plan pitches, the most important things I intend to incorporate in mine are:

• Prove my business will have success because I studied my target and there is a market and a location that needs my service.
• Show the investor that I know how to run a team and that I know how to select a team with the proper expertise.
• Show them I know where the numbers will come from and where are they going. Make them notice I know the importance of the business's income and expenses. 

Researching further on about the important elements and structure of the business plan, I plan on working hard to also follow David Gumpert (2) advice.

David Gumpert narrowed down the business plan pitch in 5 key components:
•   The Executive Summary
•   The Company Analysis
•   The Industry Analysis
•   The Analysis of Customers
•   The Competition

I agree with the industry experts I selected for my business plan research. Overall, they both say that the most important sections of the plan for an investor are the target market, the financials and the analysis. With this, I think they mean to prove to the investor that you have done the research in the location of your business and that there IS a potential target. Let him/her know that your target market has a need for your service and that they are READY and ABLE to pay for it and use it.

Make sure you know your financials. Show investors that you know what your costs and expenses are going to be, but even though, that your business will be profitable. Give them a realistic estimate of the sales you want to reach. Show them you have analyzed your business potential in the industry and that you have researched and studied who you are competing with and the challenges you are going against. But above everything, demonstrate that there is opportunity of market growth and a successful future for your business; investors want to have a view of the future of a company.

Finally, I plan on making sure I have an Executive Summary with a strong scope of what my business is about. After doing the whole Business Plan, make sure you do the Executive Summary in case a potential investor asks for this before hand. This should summarize and describe the overall business plan. Give the investor a "teaser" that interests him/her to meet for a further description of what the business is about. Make sure the Executive Summary is 1, 1½ or 2 pages long; not more than that. Write clear concise statements and facts that briefly explain the business. 

For more details on how to write a Powerful Executive Summary go to:

http://www.bizplanit.com/blog/executive-summary/item/10-rules-for-writing-a-powerful-executive-summary.html 



For further information about Business Plans you can also check out:

Creating a Business Plan? Listen to What Experts Have to Say