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Management and Funding
Did you know that one of the most often cited reasons that Venture Capitalists give for their decisions on whether to fund a business or not is management? In fact, many will tell you that they would sooner back a good idea with a great management, than a great idea with only so-so management.
If you intend to give your pitch to a VC firm for later stage financing, make sure you have the right team in place to take the business forward. The fact that the business was your idea will not convince professional financiers that you are the right person to grow the business. The most important quality a management team can have in the eyes of investors is experience, preferably successful experience, in starting and growing a company. |
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Angel Investor to a Planigent client
"I always try to poke holes in the business plans I read. To be honest, I can't find any in yours."
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Planigent Tip: Competitive Analysis
Many entrepreneurs approach the Competitive Analysis section of their business plan with trepidation, as if having competitors will invalidate their idea. Don't fall into this trap.
Instead, use this section to show how well you have researched the industry. By demonstrating a thorough assessment of your competition, you are in a perfect position to describe your value proposition and what makes your offering unique. Make the most of it! |
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