At your first meeting with potential investors, you’re going to dazzle them with your passion for your new business. The best way to do that is to write a succinct but detailed business plan. Even though you’ve been working on this document for months, you’ve probably missed a few crucial aspects of your business. Spend some time now working out these issues and adding them to your plan.
A major part of your business plan is spelling out how much you need to buy so that your investors understand why you’re asking for so much money. You’ve already included major purchases such as premises, large machines, and specialized equipment. However, don’t forget about smaller purchases such as RF power dividers. Without them, you can’t get your business started, so be sure to leave room for them in your proposed budget. As a bonus, your investors will be impressed at your attention to detail.
Unless you’re operating completely remotely, you need to set hours of operation for your company. You also need to stipulate how long your workers’ shifts are and when they will take the breaks that labor laws require. Be sure to leave time to set up and close your business.
In the age of the novel coronavirus, you must devote a large portion of your business plan to your health protocols. Explain how you will enforce mask-wearing, and detail your plans for sanitizing your workplace. Include a budget for disinfectant, hand sanitizer, and employees’ face shields. By the time you open your doors, these concerns may no longer be necessary, but it’s better to plan ahead and have extra room in your budget.
If you include these issues in your business plan, you’re sure to impress your potential investors, particularly if you address them with enthusiasm and determination. …Read more