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The best-relaid plans ... when investors ask you for a growth plan, they want a growth plan. A cleaned-up, rehashed business plan isn't going to do the job.
Publication:
Entrepreneur
Publication Date: 01-MAR-03 |
Format: Online
Delivery: Immediate Online Access |
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Full Article Title: The best-relaid plans ... when investors ask you for a growth plan, they want a growth plan. A cleaned-up, rehashed business plan isn't going to do the job.(Raising Money) |
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Article Excerpt
SOMEWHERE IN YOUR OFFICE, IN A DARK closet on a dusty shelf, sits a yellowing tome you call your business plan. Once, this mighty document was a map to lead you through the difficult terrain of product development, business models and marketing strategies.
But now it's gathering dust because your challenges are about growth. Now, you are more likely to worry about optimizing output, budgeting for capital equipment and opening new locations.
If you're looking for growth capital, it could be tempting to dust off that yellowing plan and head right out on the road to find funding. But be forewarned, the document you will need to secure growth financing may not resemble the one you made for your startup-stage business.
What's the Difference?
First and foremost, a growth-stage funding plan is different in tone and purpose from a start-up business plan, says Jim Horan, author of The One Page Business Plan (One Page Business Plan...
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