Over the last 20 years, one observation I have gained from working with startup companies, or any company, is the failure of management to assign the right talent for the right roles. A serial entrepreneur told me once, “You can take my ideas, money, computers, equipment, buildings and people and if you only let me have one back, I’ll take my people. I will then restart my business and make better and stronger. You can have the rest.”
So, it cannot be emphasized too strongly the purpose of a business plan is to first and foremost demonstrate you and your management team, Board of Directors and Advisors have the skills, experience and capabilities to start, launch and grow your company.
Through your Business Plan, you demonstrate your business has:
- A robust management team.
- Sufficient demand for our product.
- Sustainable competitive advantage.
- Realistic goals & objectives.
- Well thought out financials.
- The Business Plan also shows investors it has:
- Focus. Too many Business Plans promise too much, too soon.
- A well thought out roadmap to an exit strategy.
- Realistic financial forecasts that show acceptable return to your investors.
- Funding needs that support the forecast.
- Angel Investor Network www.angel-investor-network.com
- Capital Vector (Venture Capital directory) www.capitalvector.com
- Keiretsu Forum SoCal www.keiretsusocal.com
- Los Angeles Venture Association www.lava.org
- Maverick Angels www.maverickangels.com
- Pasadena Angels www.pasadenaangels.com
- Tech Coast Angels www.techcoastangels.com
Mike spent fourteen years in corporate America with Bendix and Allied Signal corporations. Positions he held included divisional chief marketing officer, new product development manager, marketing channel manager, national sales manager, marketing communications manager and acquisition manager, . Since 1989, he has been in the consulting industry. Of Mike’s current clients, three are start up firms. He holds a B.S., Industrial Engineering from Lehigh University (Bethlehem, PA), and a M.B.A. from Loyola Marymount University, (Los Angeles, CA), and is certified by the Center for Creative Leadership (Greensboro, North Carolina) to conduct 360º leader assessment and development programs.