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Guidelines for your business plan

• Clarity
  
  What does your business do? If you truly understand it, you should be able to explain it simply and clearly.



• Quality of the people behind the idea
  
  Most investors invest in people rather than ideas. A great person with an average idea is better than an average person with a great idea. You need to tell us why you are worth backing.
  
  Investors have to be able to work with the entrepreneur or management team. If you are unwilling to accept advice or do not anticipate ever having to relinquish operational control to an experienced businessman, you may encounter difficulties in sourcing investors.



• Market and need
  
  Have you established that there is a market for your product? There may be a gap in the market, but is there a market in the gap? The best product in the world is worthless if no one will pay for it.
  
  You need to show why there is market for your product. Investors normally prefer a market that has rapid growth, and an existing market over one that the public still has to be educated about.
  
  Tell us who needs your product. Who is your customer? Is your product something that a customer really needs, rather than just wants?



• Competitive advantage
  
  If you've established that there is a market for your product, what is it about your business that gives you a competitive advantage? In other words, what is to stop others from copying your idea?



• Deal for the investor
  
  How much money is required? What stake would you be prepared to offer? This guides us as to the realism of your expectations. Can you reduce the amount of funding required and still achieve your objectives? How will the investor be able to sell his shareholding, and when?