Business Plan Writing?
I'm working on a start-up and I need some creative marketing strategies to input in my business plan to attract investors. I have learned that most businesses in my field typically out-scource or subcontract their makerting since there are companies in this industry that specialize in such business to business marketing I need. In the meantime I have to write a business plan. I will be manufacturing an additive chemical essential to diesel fuel efficiency and blending. My target audience is big transportation companies, bus/ transit systems, marinas, aircraft operators, mininig equipment users. What are some attractive marketing strategies to put in Business Plan that will look do-able and attractive to investors? Bare in mind I cant just say I will designate this task to another company...
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- You don't say whether this chemical is already used or a new concept. If it is already used then you need to spell out why your product is better than competitive alternatives bearing in mind that the factors of paramount importance are price, quality, reliability of your company, your product and your delivery promises.
If it is a new product then you need to also spell out why the extra expense of an addative will save money and add to profits for your customers and/or distributors.
If you can satisfactorily convince your investors that the above factors are favourable you need also to state simply your investment requirements, the percentage return you can expect to distribute to shareholders and investors in the short term and some indication of your long term plans and hopes.
- According to the book “The ABC's of Writing Winning Business Plans: How to Prepare a Business Plan That Others Will Want to Read -- and Invest In” http://www.amazon.com/exec/obidos/asin/0... by Garrett Sutton, below are some tips to make a winning business plan that can get funding:
- Money follows management. Investors look first at the people involved in the company. If you are just starting out and don’t have relevant experience, investors expect to see that you have an experienced team of advisors and employees helping you in the business.
- Make sure you “sell” the one reason your business will become profitable.
- State clearly the strategies you will employ to get the word out about your business. Your business plan must show how you will leverage the Internet, public relations, viral marketing, and other strategies to attract customers. Your business plan must clearly state how you are going to get your target market to deal with you -- whether you have existing contacts with them that you can tap, you've been an insider and knows the relevant people, and what you can offer them to make them deal with you.
- Present realistic estimates of the time, energy and costs of building a successful business. Do not underestimate or overestimate revenues. While investors know your numbers are simply guesses, they want to see that your numbers are within the “range of reality.” Be careful of your financial statements: this is one area where you can easily lose credibility if presented poorly.
- Benchmark similar companies to show that you’ve done your homework and researched the market.
- Your Executive Summary is your calling card. If it is not a winner, investors may not even read your entire plan. Emphasize your own as well as your team’s track record in the Executive Summary.
- Before sending your business plan to lenders and investors, send it out first to a few in order to get feedback. You’d want to correct your plan if someone tells you that you’re way off mark, rather than have a potential investor tell it to you and lose the chance to get the funding you need.