Set your goals and track your progress. Signing up won't affect your score.
What should I send investors? Understand that investors care about traction over everything else. If you like this article, check out our free e-book on Pitching. Nobody reads them and nobody executes them.
Investors who want a long plan look bad—so do companies that generate them. Document your detailed plans on a napkin, wiki, spreadsheet, deck, to-do list, or whatever.
Share it with investors sometime around your second meeting and make sure they generally agree with your plan. It can happen like a rainbow! Competing companies tend to get started at the same time because the market timing is right.
And this barrier is insurmountable: Please do not distribute. And ask any recipients, in writing, via email, to kindly not distribute the deck outside their firm. Investors often look at several similar companies at once.
If you have incredible traction in what seems to be a large market, you can raise money no matter what the product and team look like—although a good product and team will improve your terms.
Traction is demonstrated profit, revenue, customers, pilot customers, or users in order of importanceand their rates of change, and the rates of change of the rates of change, and the rates of change of… Read The only thing that matters by Marc Andreessen to learn more.
Got a question for us? Send your questions to ask venturehacks. We read every question and answer the most interesting ones here! If you like this article, check out our e-book on Pitching.Bplans offers free business plan samples and templates, business planning resources, How-to articles, financial calculators, industry reports and entrepreneurship webinars.
Summary: Don’t send long business plans to investors. Don’t ask for NDAs. Don’t share information that must remain confidential. Understand that investors care about traction over everything else. Many people design business plans as simply part of the process and usually go by the standard rules for development.
This is all fine and can be done without much effort but that’s only if you don’t want to create a winning business plan. The tax rules have turned out less painful for investors than early proposals suggested. But the investment expense deduction is gone, and there are other changes to consider.
This article is part of both our Business Startup Guide and our Business Planning Guide —curated lists of our articles that will get you up and running in no time!. If you’ve reviewed what a business plan is, and why you need one to start and grow your business, then it’s time to dig into the process of actually writing a business plan..
In this step-by-step guide, I’ll take you. A business plan is all conceptual until you start filling in the numbers and terms.
The sections about your marketing plan and strategy are interesting to read, but they don't mean a thing if you.