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Alright, time to write a business plan. Does anyone have any suggestions to sites I can get free templates and assistance.
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Do not use business plan software.
If you use a template, modify it massively and cut out all the boilerplate.
Most investors read hundreds and most lenders thousands of business plans. They will recognize boilerplate at a glance.
IT YELLS!
HE COPIED THIS. HE DIDN'T DO THE WORK!
Nothing will turn them off your deal quicker than recognizing that it is a template they have seen a hundred times before that you paid $50 for.
The main purpose of the business plan is to convince them you have done massive homework and research and know every angle of your business, especially the problems and pitfalls.
The only thing worse than a template, is overly optimistic sales projections. They know from published studies how much product "X" can be sold and what kind of net margin can be realized. Do NOT try to snow them with pie in the sky projections and claims. If they think - that you think - you are going to make a killing real quick with little or no work, You will not get funded.
I wish you the best of luck and prosperity.
If you use a template, modify it massively and cut out all the boilerplate.
Most investors read hundreds and most lenders thousands of business plans. They will recognize boilerplate at a glance.
IT YELLS!
HE COPIED THIS. HE DIDN'T DO THE WORK!
Nothing will turn them off your deal quicker than recognizing that it is a template they have seen a hundred times before that you paid $50 for.
The main purpose of the business plan is to convince them you have done massive homework and research and know every angle of your business, especially the problems and pitfalls.
The only thing worse than a template, is overly optimistic sales projections. They know from published studies how much product "X" can be sold and what kind of net margin can be realized. Do NOT try to snow them with pie in the sky projections and claims. If they think - that you think - you are going to make a killing real quick with little or no work, You will not get funded.
I wish you the best of luck and prosperity.
source(s):
Personal experience.
30 years commercial lending.
Three years venture capital.
Personal experience.
30 years commercial lending.
Three years venture capital.
voted helpful: acastlegirl
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