If you’re looking to get going on the sustainable wheel this year, the world would definitely support you as per the shocking pollution statistics we’re facing every day. Or maybe you’re thinking of other business topics and wanting to reach all your career goals. No matter what your plans are taking you, let’s pause for a moment and ask: What is a business without its funding? So, if you’re wondering how to attract funders and get ready for any requirement they ask for, you might be in the right place!
Business Plan, Business Plan, Business Plan
We can’t even stress enough how important this element is for each and every funder. Your business plan must include all of the objectives and target market information related to your idea. A business plan can have multiple significant points to cover, but investors look up closely to the following three:
Scalability
Can your idea change into a viable revenue-generating one?
Customer Target
Does your target market have the demanded need for its offerings?
Team Abilities
Does your team potentiate a strong core to pursue the needed objectives in your domain?
We Precede the future
Now that investors have seen the business model as a reliable market need, you’ll need to pay more attention to the scalability factor. When it comes to revenues and sales, you’ll have to precede the future with your forecast model.
- Pick the specific service/s – product/s you’ll be studying and decide on the time you’ll be forecasting, being it short, medium, or long term
- Calculate the expected revenue the offering would generate. You can rely on past information or current market performances of similar ideas
- Obtain a tracking system. This could potentially be the most important factor in your forecast. In the end, you are creating a model built on risks, and tracking any future fluctuations is a necessity
Viable Financial plan
Financial statements you need
After you’ve hopped to the future forecast, let’s return to the current financial statements required mostly in the investment analysis which include balance sheets and income statements. But, adding a cash flow statement would truly reflect your specificity as you reflect the retained earning and working capital in your business.
How will you use the money?
You need to explain the milestones you’re heading towards and the amount of money you’ll be spending on each. Yet, despite the expenses that developing your business requires, finding an efficient approach to sustaining your business plans would be perfect no matter what the economic conditions dictate.
Sales, Marketing & Management
Sales & Marketing
Will people buy your service/product? Is your idea worth the purchase? Does your idea stand out over others? How will you introduce your competitive advantage? How will you reach your audience?
Management
What are your leadership milestones as the CEO? Are you confident enough with your ideas? Ready for the questions? Convincing? Experienced? Is your team reliable? Passionate? Ambitious?
Statements and numbers are a thing, but having the soft and hard skills required by the business is another.
Conclusion
To sum it up, you need to have everything planned out beforehand. Ask your peers and professionals what potential questions your business idea initiates. Remember that no matter what, you must confidently believe in your idea and take comments objectively. For that, you need to get the right guidance and mentorship, especially for technological startups and sustainable ones. So, you might be a Lebanese worried about the financial crisis yet owning the passion for a brighter and sustainable future. Energy Innovation Hub has got you covered for that!
