kamolahy subscriber Posts: 27
edited July 2006 in Business Planning
I`m a 24 year-old entrepreneur who is currently going through the business plan grind. I`m looking for small seed money, but want to have a solid business plan to present for different reasons. My question is this...Although I`m sure of my own qualification, I don`t have the credentials to show for in my business plan. When talking about the management, I don`t know what to say. I also hear the guys talk about the importance of having a strong management team to present to investors. If my history has nothing more than a bit of a college degree and some part time jobs, how to I convince investors that I`m the man for the job?
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I understand that you "love ambiguity" but you will have to be specific for your investors to want to be part of your plan.
When you approach your investment sources you have to be careful. I`m in the process of this now myself so I can tell you that I am approaching it with more care than any othe aspect of the business.
It all comes down to potential. Potential to make money. If you can all but prove it you`re in business. Get your plan together and present it.
[Can it really be that simple?]
You might want to do a little reading on the subject, if you are unsure how to use this. I have found that this has helped me a few times, and other times, proved completely useless information for me. I hope it can help you!
Also, Engraver has a good point, ANYONE that you have working with (or for) you, can be added to your "management team" because they are providing you guidance, and support. I have seen this used quite beneficially as well, but again, you must use caution, so as not to misrepresent the roles of what those advisory positions are actually contributing. Remember that you can imply quite a bit to help "bulk up" your team experience, but you must show care not to come out with a misleading statement in the process.
It`s a very fine line to walk, but quite rewarding so long as you can learn how!
... rereading this post makes it sound almost unethical... but it is not so long as you ensure that you do not misrepresent the roles these people play, or what work you have done. I hope this helps!