I had an excellent opportunity to attend the BPC (Business Plan Competition) session at Foster School of Business (UW) last week. It had a great mix of technology entrepreneurs, students and investors. There was a healthy brainstorming and presentation of ideas as to what constitutes a good business plan pitch. Some key takeaways for your quick reference:
Know your audience - Angel investors
What are they really looking for? - Can they trust you with their money?
What is more important - an idea or execution of an idea? It is always about the execution of an idea
What should the business plan address? a logical statement of the problem and its solution, a battery of facts based on credible sources of research, and a well thought out process to address risks
What are the risk factors that needs to be addressed in the business plan?
Technology Risk
Market Risk
Financial Risk
Product Risk
People Risk
Competitive Risk
6. Your financial projections need to include at the most 3 years out - anything more than that in today's day and age is regarded as a fantasy
7. Finally remember an angel investor is investing with an option to be able to exit with a maximum ROI