HOW TO WRITE A WINNING BUSINESS PLAN BY STANLEY RICH AND DAVID GUMPERT

I came to realize then that in three potentially significant financing-related events for our company, namely seeking financing in and , and then selling the company in , a written business plan had been of absolutely no use to us. We took the first choice, and lo and behold, the business began to gain traction. Professional investors don’t want to back a company that actually needs money. Want to be up-to-date with the latest news and updates from Kauffman Entrepreneurs? After we sold NetMarquee, I decided to revisit the whole subject of business planning. No money came of this effort, and at several points during we contemplated giving up on the venture.

Once again, our advisory board told us not to bother. Those write-ups got the phones ringing with new prospects, several of which turned into clients that generated additional sales. I came to realize then that in three potentially significant financing-related events for our company, namely seeking financing in and , and then selling the company in , a written business plan had been of absolutely no use to us. After all, isn’t that the first lesson you learn in any course having to do with starting a business? In , when we made a major change in our strategy and product offerings, and sales failed to grow as quickly as we expected, we decided to try the financing route again. But we were stubborn. First, the venture capital route is closed to the vast majority of businesses that seek it out – even during good times.

how to write a winning business plan by stanley rich and david gumpert

Thought you might like this: Want to be up-to-date with the latest news and updates from Kauffman Entrepreneurs? Burn Your Business Plan! The realization about planning was especially important to me, since prior to launching NetMarquee, I had authored two widely read books about how to write a business plan: I confirmed my experience as an entrepreneur.

My partner and I sent our plan winnnig to venture capitalists and met with several to make presentations.

how to write a winning business plan by stanley rich and david gumpert

First, the venture capital route is closed to the vast majority of businesses that seek it out – even during good times. I came to realize then that in three potentially significant financing-related events for our company, namely seeking financing in andand then selling the company ina written business plan had been of absolutely no use to us.

  ONDERWERP THESIS BEDRIJFSKUNDE

Once again we had to chuckle, because we had become obsessive about phoning clients on day 31 if invoices weren’t paid, and thereby maintaining a healthy cash flow. Access the tools, resources and guides necessary to start and grow your business — anytime, all online, at your own pace.

They’re like bankers in that they like to support companies that don’t necessarily need the funds. The plan we actually followed was a slow-growth plan that wasn’t part of our write-up.

how to write a winning business plan by stanley rich and david gumpert

Kauffman Wrrite can help you clear the path from idea to business start. You might say, “Well, just having gone through the process of writing a plan probably helped you grow the business. Thumbs Up Thumbs Down. Second, it’s often amazing what you can accomplish without the financing you are convinced is essential to stave off failure.

Business Plans That Win $: Lessons from the MIT Enterprise Forum – Stanley R. Rich – Google Books

Once again, our advisory board told us not to bother. It argues that entrepreneurs wlnning focus their company-building efforts on such tasks as creating a Web site that communicates their business model, obtaining publicity, keeping the finances under control, and making sales before thinking seriously about writing a business plan. A lot of potentially deserving entrepreneurs never get their plans funded, and many others that do obtain funding actually do so without ever writing a business plan.

Put another way, you should be doing, rather than writing about what you will do.

Get out there and promote yourselves and make more sales, they advised us, in what was becoming a regular refrain. But we had recruited a board of advisors with broad experience in growth-company strategy, finance, and marketing, and the members advised us to spend less time massaging our business plan and more time making sales.

Isn’t that what the business media recommend writw hundreds of articles and books?

  COME SI SCRIVE UN CURRICULUM VITAE ET STUDIORUM

We went off seeking financing and, once again, it was thumbs down. We took the first choice, and lo and behold, the business began to gain traction. So we made a few sales, enough to stay afloat through No money came of this effort, and at several points during we contemplated giving up on the venture. Inwhen we made a major change gumperrt our strategy and product offerings, and sales failed to grow as quickly as we expected, we decided to try the financing route again.

I spoke with entrepreneurs who had obtained financing, and I surveyed venture capitalists to learn the real role of business winnign in raising money.

After all, isn’t that the first lesson you learn in any course having to do with gich a business? Increasingly, though, I am convinced that the key to the success of most young businesses is to ignore all the venture capital statistics and admonitions to write business plans, and instead use all the creativity and diligence you can muster to tend to your business.

My point in recounting our financing experience is twofold.

Download Summary Business Plans That Win Stanley Rich and David Gumpert Business Lessons Ebook

Down certainly described our feeling, since it seemed that every new Internet-related venture in the world was obtaining financing. Even though an acquisition is really an investment situation, the acquirer never asked to see our business plan; it only wanted to see financial projections under several different scenarios. According to the conventional wisdom, we’re now in the third year of tough economic times.

After we sold NetMarquee, I decided to revisit the whole subject of business planning.