Did you search shark tank and business plans? The popular ABC program that pits would-be entrepreneurs against profit-driven venture capitalists shows viewers what it looks like for someone with a business idea to make their pitch to a board of prospective investor partners. But is this what the scene looks like in real life? To be frank, most of the contestants on this show have overcome many, many hurdles already simply by virtue of actually being in front of people who might help them with their businesses. The pursuit of funding, for most of us, is a much grittier and drawn-out affair that doesn't always end in a boardroom full of suits. You first need a business plan – a document that shows, in summary form, what you believe you can accomplish:
• What are your objectives for the business?
• What sort of revenues do you envision in 5 years?
• How will you recruit and train the right people?
• What competition will you face?
• How will you position your business for success?
• What is the projected profitability in 5 years?
Just like on the popular TV program, an investor or venture capital firm will want to know their potential share of the pie – in other words, how much of your ownership or what volume of shares will the business forfeit in exchange for the funding required to launch or expand? This is not an idle question and while the details will usually play out in face-to-face negotiations later on down the road, your business plan needs to have an idea of the funding scenario's details and your planned exit strategy. Need help crafting a convincing pro forma or a market analysis that articulates why you can succeed? Call MasterPlans today. With more than 10,000 documents written to date, we are the business planning experts and we can help you survive “the shark tank†too. 877-453-2011.
