Graduate of the University of Cambridge, London native, Nic Brisbourne has been working in the venture capital industry since 2000. Brisbourne’s major focus is on software, media and a variety of investments.
“This business plan has two purposes, to introduce your company to prospective investors and as a document investors…can look to for additional information about the company” (Brisbourne, 2011).
I’ve written business plans before (i.e. class assignments), but I don’t think I was ever exposed to the specific purpose of the plan and what exactly was the point. Yes it’s a document that gives an overview of your company. However, I never really understood what would make someone want to read it and why anyone else would read it outside of a bank when your company was applying for a loan.
Brisbourne gives a basic breakdown of how to present the business plan and what to include in the plan itself. Ironically, the business plan shouldn’t necessarily be the first document you would submit to a potential investor. The first document you should submit would the Executive Summary. The Executive Summary should be a stand-alone document. “The reader should get a good high level feel for the whole business without needing to read any other part of the business plan” (Brisbourne, 2011).
Another expert in the business plan industry is Startup Professionals Inc. founder, Martin Zwilling. Known as Marty in the professional world, Zwilling has accrued over 30 years of experience in software engineering, product management, and marketing. Like Brisbourne, Zwilling feels the Executive Summary is a highly important factor when it comes to writing the business plan.
According to Zwilling, some investors won’t even scan through the plan if an Executive Summary is not included. He also touches on what I call the “common-sense” factors of the business plan. If you want an investor to take you and your business seriously, professionalism is key. Typos and poor grammar is a quick way to diminish any positive regard you may have had before the investor attempted to read your plan.
Nic: Brisbourne: uk.linkedin.com/in/brisbourne
Martin Zwilling: http://www.linkedin.com/in/martinzwilling
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