By now, if you have been following our blogs, you should be a business plan expert. You know what elements a business plan contain, you know why having one is important, and most importantly you know that you must update it often. You’ve got a brilliant new idea and you’re ready to implement it. Along the lines, are you thinking to yourself, what information on here will the investor hold more importance over? Do I focus more on my financials? Do I focus more on my products and services? Do I focus more on how my business will grow financially? Investors will care about four elements that are critical to every new venture.
- Opportunity: what will you sell, and to whom? How fast do you plan to grow?
- People involved: present who will be starting and running the business, and any outside parties involved.
- Environment: Any regulatory, demographic trends, or market factors you can’t control that dynamically affect your business.
- Contingency: Explain how you and your team respond when things go wrong.
Business plans can help perform various assignments for the individuals involved in the business. They’re utilized to pass on their vision to potential investors, prospect for new business, deals with suppliers and to align their future goals and objectives. If you need help with writing your business plan, BizCentral has you covered. Call us at 407-857-9002, or click on the live chat box to talk to a business consultant.
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