Entrepreneurship. Rhonda Abrams

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       Five crucial minutes

       Although you may spend five months preparing your plan, the cold, hard fact is that an investor or lender can dismiss it in less than five minutes. If you don’t make a positive impression in those critical first five minutes, your plan will be rejected. Only if it passes that first cursory look will your plan be examined in greater detail.

Distributing and Presenting Your Plan

      Whether you intend to use your plan internally or externally, you must consider how you can best distribute it for greatest impact and how to make the finished plan an effective instrument for achieving your aims. Although a banker will probably be satisfied with only a written plan, an investor or strategic partner will probably want a digital presentation, such as a PowerPoint, as well.

A word about confidentiality: Nondisclosure agreements

      Although most new entrepreneurs are probably overly concerned about issues of confidentiality, you may want to draw up a nondisclosure agreement, or NDA, for the recipient to sign before receiving your plan. However, many professional investors—particularly venture capitalists—don’t sign NDAs. They see so many plans in so many related industries that they would inevitably have a conflict.

      To best protect your information, be selective about to whom you send your plan. Research your recipients to make certain they haven’t already funded a competitor. Check their reputations for honesty and discretion. Deal only with reputable people. On top of that, limit the number of copies of your plan in circulation, and omit from your plan highly technical, sensitive information. You can provide that information later to only the most serious sources of potential funding.

       See page 407

Preparing a digital presentation

      Most investors now expect to first see your business plan’s basic info and highlights in digital form. Expect to be asked for your “slides” and financials. However, you still need a written plan, either to be reviewed before you’re granted a meeting or to leave behind after you meet with potential investors.

      In some cases, you won’t present your plan in person. Many investors will likely ask for your slides before they’ll even consider looking at your plan. In that case, you’ll send your presentation electronically. For this reason, you must create a presentation that’s compelling enough to stand on its own without a presenter.

      NINE SUREFIRE WAYS TO RUIN YOUR BUSINESS PLAN

      Consider embedding video or audio into your slide show. Your content can include a prototype if you have one, a demonstration such as how your service will be performed, a look at your location, or anything else that will make your plan more comprehensible and exciting. You can link to a password-protected YouTube video if you have one. You may also choose to put the slides online on a password-protected site.

       12 CRITICAL SLIDES

SLIDE NUMBER	SLIDE NAME	SLIDE DESCRIPTION
1.	Title Slide	Your company’s name, a short company description, name of presenter(s) if presenting in person
2.	Your Elevator Pitch	A succinct description of your products or services, market, and competitive advantages; use vibrant language; if possible, embed audio or video to demonstrate your product or service
3.	Size of Opportunity	Investors want to know the potential size your company can grow to and your plans for future development
4.	Your Specific Target Customers	Who they are and the customer needs that your product will meet
5.	The Market Size	Numbers and dollars, past growth, growth forecasts
6.	The Competition	Division of market share, how your product compares to theirs, your value proposition in comparison to the competition’s, and barriers to entry
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