Page 15 - In The Mind of Startups Business Magazine InDesign Template – 50 Pages
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Be clear and concise: your audience, whether it is evolves and grows.
Your business plan should be potential investors, lenders, or
easy to read and understand, partners. Conclusion
with clear and concise lan- Creating a business plan is
guage and formatting. Seek feedback: an important step in start-
Get feedback from trusted ad- ing and growing a successful
Be realistic: visors, mentors, and colleagues business. By following the key
Your financial projections to help you refine your busi- components and tips outlined
should be based on realistic ness plan and identify potential in this article, you can devel-
assumptions and market re- challenges and opportunities. op a compelling and effective
search, and should be support- business plan that helps you to
ed by data and analysis. Update regularly: articulate your vision, develop
Your business plan should be a a strategy, and secure funding
Know your audience: living document that you up- from investors or lenders.
Tailor your business plan to date regularly as your business
IN THE MIND OF STARTUPS 15
