Fundable Business Plan
Traditional 50 page business plans do have a place but they are not often used these days with securing investment for early stage companies. Most investors prefer to receive a pitch deck that is no more than 15 pages long in a slide deck form (power point). A pitch deck should cover:
- Introduction to the Business
- Problem you are solving
- Your solution
- Your products/services
- Business model (how you make money)
- Case studies (if you have them)
- Competitive advantage
- Addressable market
- Current status and milestones
- Growth strategy
- Value Proposition
- The ask (how much money you require)
Free Download: You can download our free pitch deck template here.
As mentioned, it is not essential to have a full business plan to raise capital for very early stage companies. This is because a business plan will often force you to make a number of key assumptions about pricing your products, target markets, business models, etc. Investors know very well that these will change and evolve as the business moves from pre-revenue to revenue and growth stage.
This is why investors prefer receiving a pitch deck as it addresses the now and is predicated far less on future expectations.
If you still want to write a business plan the 10 essential components are:
- Executive summary
- Mission and vision statement to set the scene of what you plan to create and why;
- Description of your company and product or service. Include the company’s legal structure, shareholders and other compliance matters;
- Description of how your product or service is different to that of your competitors. What is your value proposition?;
- Details of your target market, competitors, how you compare and how you plan to compete;
- Description of your founders, management team, and key staff, including their previous experience and relevant education;
- Marketing plan, including how you plan to win new customers;
- SWOT Analysis including your company’s strengths, weaknesses, opportunities, and threats;
- A cash flow statement; and
- Revenue projections and Balance Sheet with details of key assumptions.
Writing a business plan takes a lot of effort and time. We also have available a simple one page business plan here to download for free.
Even if you don’t plan to write a business plan, it may be a good idea to use the one page business plan internally for your business. It will, at the very least, allow you to think about some of the key topics that relate to your business.
Finally, a business plan is never set in stone. It evolves with your business. As you build your business, learn more about your industry, customers and competitors, plans for your business also evolve and change.
You should print multiple copies of our one page business plan and keep it on your desk so that you can work on it from time to time. Taking time out and looking at your business from a high level and reviewing your strategies and plans is a healthy way to keep focused on your vision and main goals.
Keeping previous copies of your one page business plans also allows you to keep track of progress and come back to old ideas, if you ever need to.
In this FREE report, we reveal the best way to find investors, the best way to pitch, the funding process, and our top 10 tips for raising capital.