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Tips on Writing a Business PlanThe plan should be formula-driven and fluid,
not a static estimate. Your projections and your
plans of attack must be committed to but must also Before you solicit financing, an important first step is to analyze the business thoroughly and prepare yourself for the fierce competitiveness of the capital markets. Keep in mind that it is not just the numbers that matter, you should be able to make transparent your venture’s source of value. Ask yourself: Help from Outside Professionals
Lawyers, accountants, marketing professionals, IT specialists, scientists,
and engineers can provide valuable input for emerging companies. Experienced accountants can: Lawyers and accountants can offer knowledge of
and contacts with venture capital firms, banks,
other lending sources and underwriters as In addition,
outside IT and engineering expertise may be needed to perform research and
development and determine the technical feasibility Business incubators are a
good source for providing these services or recommending resources.
Incubators affiliated with universities may NOTE: While seeking consultants' help in developing a business plan is important, the need for active management involvement in every aspect of the planning process is paramount. A business plan prepared principally by outside consultants will not reflect an entrepreneur’s total insight and broad concept of the business. The entrepreneur must take full ownership of the plan. More tips on writing a business plan:
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