Whenever you plan of starting a new business, you need a good business plan. A business plan is written to structure your business concepts and ideas into paper so that it becomes easy for investors or banks to understand and finance your needs.
This situation is complicated by the fact that many venture capitalists will refuse to sign an NDA before looking at a business plan, lest it put them in the untenable position of looking at two independently developed look-alike business plans, both claiming originality. In such situations one may need to develop two versions of the business plan: a stripped down plan that can be used to develop a relationship and a detail plan that is only shown when investors have sufficient interest and trust to sign an NDA.
Products and services-You should list down all your products or service offerings and highlight how it is different from your competitors, its basic features and advantages and in what way it will benefit your customers.
An exit strategy- A business plan becomes perfect only when you write a good exit strategy for the investor. It is important to note that investors generally have a 3 year horizon within which they want to exit. The author is the partner at IntelligentQ. IntelligentQ specializes in Integrated Marketing Communications: Business Content, Sports Content, Business Plans.
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