A quintessential business plan and being able to communicate effectively with various stakeholders including potential investors, partners, customers and employees is necessary to make it big in the industry. Here’s a recipe to present your venture in the best way possible.
- Idea- To convince, you need to present the soul of the business, your idea in a compelling way. Begin by telling the problem that your idea solves and why it stands out from the crowd. You could perhaps tell a story to include all aspects of the problem, and how you plan to solve it.
- Successes- To build some credibility right in the beginning, you must cite the small steps that you’ve successfully taken. And if you’ve already started off, including your sales, product launches, contracts, key hires makes a strong impression.
- Market- It is essential that you mention the specific market that you are aiming at, and why your solution is a significant advancement on anything that’s available presently. You should discuss the size of the market, the past and how it’s expected to be in the future.
- Team- What drives a ship is the sailors. Its obligatory that you convince your audience that the team and people you’ve hired are the right ones. Also it shows the skill sets that you have.
- Marketing strategy- Describe how you’re going to convince the customers to buy your product. In depth discussion of the sales strategy and how you’re going to reach out to the people is an imperative decision.
- Revenue Model- This is perhaps the part that investors look forward to the most. You need to build a credible and convincing revenue model for your product, keeping in mind the other players in the market.
- Funding- You need to tell the amount if money that has already been invested in your venture and what further funds are you looking to procure and what you intend to do with it.
- Exit Strategy- If you’re looking for high capital to be invested in you, people who are investing would definitely look for how you drop the anchor when going gets tough. If you plan to get acquired, go public or some other alternative.