STEP 2: Create a Solid Business Plan
This next step is critical. No lender will back your business unless you can put together a sound business plan. This plan may be different from any plan you’ve created in the past because, this time, you need to create a compelling business case for a potential funding source. You business plan will need to include the usual information about your business such as:
- Executive summary
- Industry overview
- Market analysis
- Competitive analysis
- Marketing plan
- Management plan
- Operational plan
- Financial plan
- And more
However, in this plan, you will also need to clearly state the following in order to satisfy the needs of your future finance and capital supporters:
- Clearly stated use of capital
- The rate of return an investor can expect to see
- The time required to repay the capital
- Any other lender or capital providers that already make-up your business’ capital structure
You may not know all of this information right now. Or you may not be willing or able to disclose all of this information at this time. That’s OK. We can work with you to help you create a sound plan that will give your business the best chance at gaining access to capital and finance. Contact us today to learn more.