“How do I present a business plan?†It's one of the most common questions we hear from people who've already done quite a bit of work on their business plan and are looking for guidance on how to make the perfect pitch. And it's great to ask! You need to go into an investor's office – or even a meeting with a bank officer – with as polished a pitch as you possibly can. Be prepared, be ready to field questions, and be composed in every response. Know that an interested party WILL have questions, and there are some common touchpoints you should be prepared to speak to. Hopefully these items are outlined in your business plan as well, but understanding them is important. Some common queries that you'll hear when you go to present you business plan:
(1) What return on investment do you envision, and what support do you have for the P/E used in that projection? If you're seeking a loan, be prepared to show how you can service the loan with the terms the bank will offer.
(2) How does the market data and competitive research you've done support the idea that this is a good market opportunity? What can you show me about your competitors (revenues, shortcomings, etc.) that would help make your case?
(3) In your financial projections, when does break-even occur and what benchmarks do you need to hit to ensure that you stay on target for that? You'll have to show that your cash balance will be sufficient throughout the start-up as well.
(4) Lastly, what if your sales come in under projections? Can you show a sensitivity analysis for the audience that will demonstrate you know what these scenarios look like?
Presenting a business plan can be scary and it's true that you often get only “one shot†with your target audience. But you can prepare for the pitch by making sure you have a thorough, vetted business plan and being intimately familiar with its contents. If you're unsure of your plan, have questions about the investor race, or want to bounce some document-specific questions off of an expert, call MasterPlans. We have 10 years of experience helping entrepreneurs prepare business plans. There's no better coach in the industry! Phone us today at 877-453-2011 or visit us on the web at www.masterplans.com to see how we can help you.
