Unless a full business plan has been written it is simply not possible to fully understand your market, competition, what is different about your product or service, and all the other very basic matters that you need to know.
The business plan should of course include financials to date as well as forecasts for the future and full, defendable, and robust assumptions behind those forecasts.
The business plan should be done simply as part of being in business, irrespective of whether you intend to raise funds.
When you decide that your business does require external funds, whether it is equity or debt, then the business plan and a pitch deck will be required by the funders – without it not only will no funds be forthcoming but it will also show you as founders or directors not to be fully prepared for the future or even to fully understand the present.
We at BOOM & Partners will always tailor our service to fit your exact requirements. We can write your business plan or pitch deck based on initial information supplied by you and then supplemented with our own research. We will ensure that it is written in such a way that funders are expecting to see and that it answers the questions that they will ask.
Alternatively we can assist you in preparing those materials, and help you to achieve the best result, or we can simply review what you have produced, and, using our knowledge and experience, will make constructive comments as to how they can be improved.
We can also work with more established companies in helping them to review and update the existing business plan and to re-validate the research and assumptions used – thus ensuring that you are still focussing on the right challenges.
The more of this process that we do for you the more time that you will have to focus on your business, but we can work with you whichever way you prefer.
in British English