Oleksiy Nesterenko Startup Finance
Business Startup And Strategy Consultant
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Business Plans and The Importance of Funding Discussed by Oleksiy Nesterenko
15 Nov 17 - 01:51
A business plan is a vital component of your start-up venture and without it you won't get very far, and you certainly won't be treated as a professional. But one great mistake entrepreneurs make when composing business plans is to draw them up with no real regard for funding. At best, the funding section of a business plan gets added to the end of the document as an appendix, with a note stating the obvious - you need to find funding and this is how much money you want. Business plans should contain an executive summary, a description of what your business is and how you run it, a section on market strategies and innovations, and a competitor analysis. But integral to all these sections is funding.
From the very start, when you write your business plan, edit it and refine it, you should be thinking about how your investors will see it. Investors scrutinize your business plan to see the kind of prospect your company makes but also to see how they fit. Traditional lenders like banks are not overly impressed by innovative marketing, hype and stunning claims about the originality of your product or service. Banks look for solid assurances of profit, a track record, and other forms of backing. Adding a long section describing the uniqueness of your product will probably not help your case with traditional lenders.
Other potential investors are also turned off by over-hype and bold claims that can't be substantiated. Excess words and description are unnecessary and cause funders to stop reading. Of course, your business plan must be interesting and exciting in order to catch funders' interest. A one-dimensional plan that gives nothing but figures will not help you win investment. But it's common to get carried away and add hype that makes you look unprofessional and unreliable.
Oleksiy Nesterenko says that your business plan should be a slick, polished product that states your case professionally and showcases your product in the best possible light. This is what potential investors want to read. Wild promises will not win you money.
You need to create this impression throughout the entire document, and not just in the section specifically about funding. Your business plan also needs to be complete and finalized. All the details need to be there before you take it to any investors. Even if you are short on time and desperately need funding, you should not rush your business plan. Check and double-check all your figures, make sure all the sections are complete and write with your investors in mind. Looking after the whole business plan is an investment that will pay off in the long run.
Oleksiy Nesterenko Startup Finance, an advisory firm in Los Angeles can help you with your business planning issues and give you the right advice to make the perfect decision. Large number of businesses does not succeed simply because they fail to plan. Oleksiy Nesterenko will help you identify market opportunities, reduce risk, and develop a roadmap for your business, based on financial and economic analysis.
Contact at (310) 710 4248 or mail at email@example.com.
Or visit here at: http://www.oleksiy-nesterenko.com/
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