How to Write a Catchy & Intelligent Business Plan
With hordes of investors rushing to
pump significant capital into Indian startups, it is becoming more critical
than ever for fledgling entrepreneurs to be able to draw their attention and
convince them that they are the ones to bet on. And the key tool for this is a
well-crafted business plan. Entrepreneurs
have realised that business plans can have a massive impact on whether their
startups will receive the steady flow of capital they need to sustain, critical
for any earlystage venture that typically works on wafer-thin margins.A typical
business plan is one that contains a definition of the product or service on
offer, details on current and future earnings, team profile and snapshots of
competitors and investors. But given the rapid maturing of the country's
startup ecosystem, business plans, too, have metamorphosed to keep pace.“Always
go big. That's been our constant mantra,“ said Jaydeep Barman, cofounder and
chief executive of on-demand restaurant chain Faasos, which is backed by
venture capital firms Lightbox Ventures and Sequoia Capital. “Big plans, by
definition, means big markets, and that's what VCs want to see.“
Barman's tip: Never talk about
potential returns for an investor, identify opportunities, emphasise team, and
give details on projected costs.“That's what we're looking for,“ said Vijay
Shekhar Sharma, founder and CEO of mobile commerce startup Paytm as well as an
early-stage investor. “Excel sheets with financial modelling may not always
work.“
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Biswarup Gooptu & Harsimran
Julka
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New Delhi:
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ET16JUN15
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