Suppliers have a lot of the same concerns as customers, except they're in the other direction on the supply chain. Customers rarely ever read a company's business plan, so you should probably have your miniplan available for these occasions. So deal with these sections of your plan in greater depth you can be more concise in other areas. They're certainly going to be more concerned about your relationships with your other customers and, possibly, suppliers than most of your readers. Customers.Ĭustomers who are looking at your business plan are probably doing so because they're contemplating building a long-term relationship with you. So make sure that any plan presented to a potential partner deals comprehensively with the ownership structure and clearly spells out matters of control and accountability. Naturally, anyone who's considering partnering with you is going to have similar concerns. If you were thinking about becoming a partner in a firm, you'd no doubt be very concerned with the responsibilities you'd have, the authority you'd carry and the ownership you'd receive in the enterprise. An angel investor used to playing their hunches might be put off by an imposing plan rather than impressed with your thoroughness. Rather than going for impressive bulk, seek brevity. For such an informal investor, prepare a less-formal plan. Make sure they're fully detailed and come with notes to explain any anomalies or possible points of confusion.Īngel investors may not insist on seeing a plan at all, but your responsibilities as a businessperson require you to show them one anyway. For these readers, you'll want to give extra attention to balance sheets and cash-flow statements. Bankers.īankers tend to be more formal than venture capitalists and more concerned with financial strength than with exciting concepts and impressive resumes. Remember, time is of the essence to venture capitalists and other investors. That said, make it concise and to the point. Emphasize a cogent, succinct summary and explanation of the basic business concept, and don't stint on the details about the impressive backgrounds of your management team. It's essential, when courting these harried investors, that you make the right impression fast. Even if your plan excites initial interest, it may receive only a few minutes of attention to begin with. Most plans probably receive no more than a glance from a given venture capitalist before being rejected others get just a cursory inspection. VCs see hundreds of plans in the course of a year. Let's take a look at eight typical audiences who'll be reading your business plan.
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