Archive for the ‘business plan’ tag
I had a shock tonight when I ran into a study that says that most times business plans are no use to getting funding from venture capitalist. Wow, this is earth shattering.
Why is this the case? It seem from what the study is saying that knowing the funders actually helps more with ultimately getting funding.
Here is what I summarize from this.
1. Focus on networking to launch your new business. Find out where VCs hang out and make effort to meet them and make bounds.
2. Still do your business plan as that would help you organize your business and convince you that the end game will be good. The exercise is necessary to have a viable business anyway.
You can read more about the study here.
Well, plan to discuss a lot about business on this blog, since thats the mode that I am in right now. There is a lot of information out there that’s useful and can take you to the next step. Here is one from the SBA.