Before I begin, let me say, I’m not a financial expert and this won’t give you advice on the right investment sources for your business. However, I have worked with many people who have been putting together business plans with a view to getting either a bank loan or an independent investment. I’ve also worked on various crowd-funding campaigns. This is about getting the pitch right.
Some people think a business plan is all about the numbers – they are important, but not the only thing that’s important.
There are two things that are critical:
- You know who your client base are.
- You know how what you do or sell makes a significant difference to them
If you haven’t identified your market – or markets – clearly and in detail most investors (including your bank) will be reluctant to commit money.
Knowing that there is a demand for your service or product and the impact it will make underpins that.
This is just as important if you’re crowd-funding your investment. There are thousands of crowd-funding products that never really gain enough traction to generate the funds they need. This is almost always because the pitch simply isn’t clear and compelling.
It’s not enough to be excited about your offering – it has to make sense to the readers of your pitch.
- Why will this take the world by storm?
- Who will benefit from it?
- What will those benefits be?
- How will they impact their life, business, relationship, health…?
- What exactly is the plan for the investment?
Woolly wanderings won’t work! You have to be crystal clear about all these things so the reader can envisage it all in action. Your words have to capture their imagination and bring it all to life. Then they’ll be ready to get on board and invest.
Yes, do your figures – and base them on achievable results – but never underestimate the power of words. If you get it right people will be willing to get behind you and support you in achieving your goals.