Writing A Great Business Plan
Who should get a business plan?
Once you've written this fabulous, scintillating business plan that reveals all your brilliance
and explains -- in detail -- how you're going to build the next Yahoo! or Microsoft, the
next question is who should receive this tome?
Our answer: the fewest number of people who will really be able to help build and grow
your company.
One common pitfall that entrepreneurs fall into is to distribute the business plan to
everyone under the sun. But that's not a good strategy: like keeping track of presents
received at a party, you really need to keep track of who received the business plan,
follow up with them on regular intervals, and pursue getting them involved with you.
A good way to get a plan to an angel or venture capitalist is through someone whose
opinion is respected by the investor. A common route is through your attorney or
accounting firm but there are other ways. The important thing here is to be creative. For
example, you could look at the list of successful companies a venture capital firm has
funded and try and approach the founders of one these companies, preferably one who
you think might understand what you're trying to accomplish. If he or she likes your idea,
there is a really good chance they will provide you with an introduction to the General
Partner who funded their company.
The basic rule to remember is to be very selective with whom you show your business
plan.
