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The other is more organizational an internal in nature.If you want to get funded by David Mc Clure, then he says he wants to see “a functional product that people are using.Business plans have long been a critical document for new businesses. If so, what best practices and data can help you create a winning document that will help your business get the funding you need and ensure your venture lasts?
Traditional business plans can be big beasts of a project that suck time, money and mojo at a vital moment.
Don’t do it unless you know why and what you are trying to achieve with it.
Getting lost in rehashing and dragging out a business plan for a year or more can cost your startup the optimal moment to get to market and the best funding opportunities.
Too many founders have also tried to cram the equivalent of a business plan into a pitch deck, only to find it is a hindrance to getting the results they want.
We look for functional prototypes and customer development and most importantly, scalability.
Can you scale customer acquisition cheaply and measurably?
Even your friends and family, or the most aggressive angel investors.
Things have changed., a business plan is still a must for some scenarios and some reasons.
This is especially true for those considering funding that involves commercial real estate or a SBA loan.
This is a brief 1-3 page document that sums up your business and plan, and gives viewers enough info to decide whether they want to see any more data or not.