Going back to my first blog post this month about the two experts in the business plan and investing field that we chose to write about, in my case Nic Brisbourne and Tim Berry, I can say that their inputs were very useful. Especially since this is my first time that I find myself writing a business plan and sometimes studying and reading about the knowhow is not enough. Books, classes and guides can sometimes oversee the reality when focusing on explaining every step of the BS and how to write it. That’s when, in my point of view, reaching out somehow to experts can count a thousand times more. Because it’s their job, their passion, and their opinions are priceless. And most importantly when they give insights on how investors act and what they are looking for when it’s you the one acting as the creator of a new business for the first time.
In my case I consider Brisbourne’s advice on going straight to the point summarizing concisely the financials, the product, the market and yourself very realistic and applicable since he speaks from his standpoint of being a venture capitalist in ‘Understanding how a business plan is read’ (2010) from the his ‘theequitykicker’. The most valuable insight is the one he points out when he says that venture capitalists are constantly reading and receiving business plans which makes them sometimes unable to go through the entire document and so they just go directly to the financial sections and a description of the company and the market. A little alike the when producers are reading a movie script where they to page of minute 10, 30 and the end and if it gets their attention then they read the complete document. It might seem unfair for the business man/woman but that’s the way it is so we really have to take advantage in going straight to the point concisely in order to get the capitalists attention.
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