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Pitching your Business idea

Pitching your Business idea

After completing your Business Plan, now what? Where do you go from there? Remember, you wrote a Business Plan for one of two possible reasons: as a personal guide or as a funding proposal. If you wrote the Plan as a personal guide — i.e. as a blueprint through which to organize your thoughts on your business to help you understand the idea from all important angles through the stages determining the total investment to what it will take you to have your business fully setup, then you may need to pitch it in a non-traditional pitching process.

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Part X – Risk Assessment and Management

Part X – Risk Assessment and Management

It is very rare to come across business plans which have an exhaustive assessment and mitigation plan of the potential business risks in any given business, that one intends to invest his or her resources into. This being a vital component of business plans, most businesses will describe and develop strategies on on how to go about various business risks, but will somewhat fail to highlight or mention them. As such, business assumptions are thought through and well articulated, key to success will be included in the business plan, but you will not see anything about potential business risks and how a business plans to mitigate them.

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Part IX – The Financial Statements

Part IX – The Financial Statements

We have various articles on different components of a business plan from the cover page, to the marketing strategy, including motivational articles like the story of Mark Zuckerberg, the Facebook Founder and women entrepreneurship among others. As we take on this blog post on financial statements, it is of great importance that, financial statements will never exist, if there was no sales/ revenue vs costs/ expenses. There must have been some trading.

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Part VIII – Financing the Investment

Part VIII – Financing the Investment

Description of the Investment Capital Structuring

As we continue this journey of facilitating you to develop your own business plan, we are moving away from the descriptive section to the finances and real numbers sections. In this section, the aim is to determine the total investment required to get your business off the ground and actually determining the sources of finance required to help you implement the business from the business plan document into a well operational and sustainable business, that lives to its mission and vision.

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Part VI – The Marketing Strategy

Part VI – The Marketing Strategy

The description of the marketing strategy is the section of the business plan that seeks to make great use of the data collected from the market research section of the market description, in a more specific and targeted manner to enable the business to produce or develop a service that solves the problems in the target market. The section also details how the firm intends to deliver the product to the market and the actual selling price of the product.

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Part V – The Market

Part V – The Market

The market is essentially the only reason anybody will think of setting up the business. Of course the beginning of how everyone ends up thinking of setting up a business differs. It may stem from passion, having worked in a business in the same industry or related industry, having an academic qualification in the business sector, inheritance of an existing business, name them. Whichever the case, our potential products or services must have people or organizations willing to exchange money to be able to enjoy them. These people willing to do this, constitute our market. We can target strategies to identify them as well as targeting them. Thus this is a very essential component of a business plan and it must be very well studied.

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Part IV: Description of the Business

Part IV: Description of the Business

Why include a description in your business plan?

Your Business Plan will fall flat on its face if it fails to answer one key question: What is the most important reason for the existence of this business and what is our mission? Arguably, this is the most basic section of your Business Plan. Without an elaboration of the mission or vison, as well as the broader business that this explanation suggests, your Business Plan is impotent. If your potential investor fails to grasp what it is you will be selling, it would be safe to say that your effort at crafting the entire Business Plan has not delivered for you.

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Part III – The Promoters as Business Owners

Part III – The Promoters as Business Owners

Who are Founder-Promoters?

Frequently, the person who initiates the business idea and the person who actually seeks the seed capital to launch and run the business are one and the same. In other words, you who came up with the idea for a given business will be the same person who tries to persuade investors to come on board to either support a pre-existing idea or finance an entirely new business venture. With the advent of the internet and the boundless possibilities for entrepreneurs that the world-wide web portends, we are seeing a new breed of founder-promoters. Among these, as many are blooming as are falling by the wayside.

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Part II – The Executive Summary

Part II – The Executive Summary

A snapshot description of  the executive summary

A crucial part of any business plan is the executive summary. This is a snapshot of the entire business plan provided at the beginning or the end of a business plan (but usually at the beginning), providing the key points of the business plan, without giving all the details.

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