subject: IMPORTANCE OF A PROFESSIONAL BUSINESS PLAN: [print this page] IMPORTANCE OF A PROFESSIONAL BUSINESS PLAN:
Getting into business is not an easy task; it requires enough time and cost. There are many entrepreneurs in corporate world, who have good ideas for business in their head, but do not have the capital to start it. There are a lot of investors seeking for entrepreneurs who have good ideas for business, but all they need is a solid business plan.
In order to acquire funds it is necessary to impress potential investors and lenders. If you can manage to impress them you will easily get the capital. Investors and lenders, each day, come up with hundreds of business plans. The success ratio for getting funds is about 1 or 2 in 1000. Taking a chance will ruin your business. All you need is strong and powerful business plan, something that will catch the attention of the investors and lenders.
A business plan is an important document that will take you on to the heights of success, but on the other hand if it is not crafted professionally it will also take your business towards failure. All you need is to plan carefully you can really get that singular magnificence.
Getting considered and starting a business plan is not a big deal, all you need is to plan it in a manner that in last you will get a business plan that stands out in front of investors and lenders. Search carefully about the different kinds of investors, before starting the business plan. The two main kinds of investors are:
The angel investors
The venture capitalists
THE ANGEL INVESTORS: Angel investors are the investors who have so much wealth that they have nothing to do better than taking risks by investing in a business. In return they get a share in the business and also attain profits.
VENTURE CAPITALISTS: Venture capitalists are the type of investors who invest in high profit companies with fixed amount of money. Their target is to get high stake of ownership in the business. Attaining funds from venture capitalists are much difficult than an angel investor, but a solid written business plan can do much for you.
Business plan has so much importance, the main and the most important one is that it helps to impress potential investors and lenders. No matter, how good you have idea in your mind, without a solid written business plan the idea won't works.
