Well a busy week and some real eye openers even for me who’s been in business for many a year from would be entrepreneurs who think they can take short cuts on everything.
I’ve been getting a lot of mail about Business Plans this week and thought it might be worthwhile having a brief session on the do’s and don’ts.
Quite a few people seem to think a Business Plan is something they can hand over to a third party to create, then show it to a Bank or an Investor and hey presto – they hand the cash over and everybody smiles. What a way to waste time and money.
Would you part with your cash that way? No of course you wouldn’t. You’d read the plan and start asking questions. You’d look for anomalies in the plan, things that don’t add up or contradict each other. But most of all you’d expect the person sitting in front of you to be able to answer ANY question about the plan that you put to them – and answer it with confidence.
There is nothing wrong with getting outside help and advice in preparing a business plan especially if it’s something you haven’t done before, but for heavens sake take the time and trouble to read it, inside and out. Know it backwards, because your potential investor will expect it.
