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Let me show you why you will need one.
Before taking the decision to invest a lot of money and your time and your self in a business idea, in order to protect this precious investment, you first will need to know how financially viable your idea is and how your needs in capital and other resources will look like. And there is only one tool to figure it out. The loss of your investment, might other wise not be very hard to predict. So here is my advice for the "first investment" - invest in a BUSINESS PLAN It is a necessary tool if you need to raise money. Every Bank, Venture Capitalist or Business Angel will ask to see a business plan. Without such a plan you will not receive the necessary funding and you will not be considered a serious entrepreneur. Without a funded prediction of the investments return you will have a very hard time finding somebody willing to invest in your visions no matter how monumental they might be. Or would you give away your money to somebody, who couldn't explain you properly how you will get it back? As well as it is the keystone to financing it is even a more crucial tool when it comes to navigation. A business plan is your roadmap, which will help you navigate your business safely through the rough seas directing you in times while swift decision taking will be crucial for your success. When you will have to decide if the opportunity to adapt your business practice, that is presenting it self, is right or not, or when and how to adapt your business to the market needs. Be able to predict and identify your future needs and evolve. Now before you start, give this some serious thought it just might help you save money and protect yourself form some experience you do not wish to have on your resume. Sincere KR M. |
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Re: I am writing individual business plans for small business' -
05-01-2007, 11:57 AM
I doubt whether anyone here disagrees with the value of Business Plans as Teneric is one of the best resources for this type of thing anyway. Further details here
factoring, invoice discounting, asset finance and trade finance specialist broker. Founder member of the Independent Factoring Brokers Association |
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