Young entrepreneurs try the same business plan over again without any success and ask themselves why it never gets funding.
The fact: a business plan has 1 minute to catch the investor’s eye. If it’s messy, poorly written or has typos, it ends up in the trash can. For the investors don’t waste time on 2nd class pitches.
Insights from investors on how to write a killer business plan:
- First look: succinctly written and easy-to-read font.
- Weight: the less it weighs, the better.
- Executive summary: the most important part. Make it concise yet comprehensive. Hire a great writer, if you cannot write self.
- Investor’s perspective: you should have a right team and a scalable product.
- For high-tech industry: the content is crucial, thus, include the most compelling research results and lots of data proofs.
- Personal contact: the source of the deal plays an important role. Take advantage of every possible contact (accountants, attorneys, other successful business guys).