Business Plan- Another perspective

After reading all the material that has given to us in class, which includes the speakers. I must say that my perspective of how to create a business plan has change a little bit. The essential stuff that I knew was good enough to get the idea out to people interested in my business. But after all the guest speakers and the reading I have learned what an investor really looks when looking at a business plan. Because, as we know the business plan can server many purposes depending where in the cycle of you business you are ate. But since this class is about entrepreneurship and starting your business, then the business plan really is created with one person in mind and that is the investors. You want to be able to show them that you know what your business is about, that you have studied the competition, that you have done your research in the market. But most importantly they want to look at the financials. They want to know how much money they can potentially make by giving you money. And that is logic, why would someone invest in your company startup if the profits are not good enough. After, that they want to know who will be running the business. Again, that is logic why would you invest your money in someone who you cannot trust that will manage the money and the company correctly.

Funding

Funding a company is probably one of the hardest, if not the hardest part when you want to start you company. Unfortunately, not everyone (I would say 99.9%) of the people are not born with a few millions dollars in their bank account. Therefore, in order to start a company most likely you will have to ask around for money. In class we have learned the different processes of funding your company. Starting from friends and family, to angel investors, to venture capitalist and if your company is successful going public with an IPO. As how I'm going to fund my company, luckily for me I have a few friends how have money. So I have invited a friend to be a business partner and I presented him my business plan. He was very interested and decided to join to create the company. With his money, we will have enough funding to have everything that we need to get the business started. We know that with the money we have, it is not going to be enough if we want to be as successful and big as we want to. That is why as of now, we are looking to attract an angel investor. With that money we are planning to use a considerable amount for a big marketing campaign. The more people know about our website and the more users subscribe to the website, it is only going to help us be successful.