Power of Ideas: SELLING your IDEAS

Now that your idea is ready, what’s next??? Well, it’s time for selling your ideas, the big task ahead i.e. approaching angel investors with your idea. As long as the idea is in your mind, it’s a piece of thought, the moment it comes on paper it becomes a blueprint of our business. And, when it’s business, it’s serious. So, how to make your plan eye catching for the investors?? What are the points to be covered which gives a strong foundation to your business?? Well, here are some points that needs to be covered on the paper:

1.Value Proposition of your Idea: Every unqiue idea sells and every generic idea fades. So, the first and foremost thing to cover in your plan is the business model and it’s USP.You should be clear enough of the market you would be catering to, geography segments and any validation that supports your business idea. If you have charted out a framework for your business, mission and vision statement, then it would be a value addition to your plan and good enough for the angel investors to believe your thoughts.

2.Sales/Marketing Strategy: The idea is viable, it’s unique and have potential to grow. But, the next question arises, how to sell your products/services and acquire customers? Mind you, without a good sales/marketing strategy in hand, business die. You might be very good in ideating but if you don’t know how to sell your ideas, then you are not a good businessman. Prepare a clear sales/marketing strategy for your proposition along with the expenses (advertising,branding and others) and growth model for your business.

3.Competitor Analysis: Your idea is unique and saleable but what about the existing players in the market? A good competitor analysis always supoorts your plan and help the angel investors to know the differentiation points of your business. Support your plan with the exisiting players in the market, SWOT analysis, unique features/ parameters of your products/services. DO mention the entry and exit barriers too.

4.Key Financials: Every start up/ business has a key question to ask i.e. when do we breakeven??? And that’s also the interest of the angel investors too. Present a proper plan of the funds required for your business, allocation of funds, capital required projected P and L Account, Balance Sheet etc. Good numbers support good business.

5.Risk Management: Risk Management is the key to everything right from a business survival to its downfall. It’s an important point that needs to be covered in the business summary. Risk Management includes risks that you either foresee or are already facing in your business and explain the same and do make a point to add risk reduction strategies too.

Interesting?? Well, keep reading STRATEGYAAN for more…