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Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
Five guaranteed ways NOT to get your business plan funded
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Five guaranteed ways NOT to get your business plan funded

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Five guaranteed ways NOT to get your business plan funded, for Slow Money's Business Plan 101, October 10, 2012

Five guaranteed ways NOT to get your business plan funded, for Slow Money's Business Plan 101, October 10, 2012

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  • 1. David Karp, Sprout LendersGreater Boston Slow Money Business 101 October 10, 2012
  • 2.  The mission of Sprout Lenders is to support a vibrant and healthy local food system by making small loans to farmers, producers, and food system entrepreneurs that serve the greater Boston area. Foodies, finance majors, sustainability geeks, etc. looking for decent ROI and better food Next loan application deadline: November 15 ◦ www.sproutlenders.com ◦ sproutlendersllc@gmail.com ◦ @sproutlenders
  • 3.  Left and right-brained marketer Director of Marketing, Currensee Treasurer, Photographic Resource Center at BU Founding Member, Sprout Lenders Business coach, Neighborhood Business Builders MBA, MIT Sloan Favorite sandwich: grilled cheese (extra sharp local cheddar) ◦ dkarp@limeduck.com ◦ @limeduck
  • 4. Here are five things NOT to do
  • 5.  Some investors read the financials first, and the rest not at all if they don’t add up Cashflow is more important than your mother Show a clear path to profitability and payback that supports your narrative
  • 6.  Risk is part of business and of life Showing awareness of the risks of your business and explaining how you’ll mitigate them builds your credibility There are always known risks and unknown risks, a good plan leaves room for both
  • 7.  Some funders look at the team first, and throw the plan away if they don’t impress Even if you’re the only employee of your business, you’re probably not the the only member of your team Build a team with good credentials and good contacts – it’s your support system and it builds confidence with investors
  • 8.  Can you sell 500 pounds of sausage a week? How do you know? What makes you think so? Nobody knows the future for sure, but you must build a convincing case for the numbers in your plan Use comparables, competitors, primary data, anything you can get, and document it
  • 9.  They read it first, so you write it last, after you’ve done all the rest of the hard work This is your first and sometimes only chance to capture the interest of a funder Present key data Don’t contradict the summary later in the plan Provide a compelling case for why you will succeed, but don’t sound like you’re selling
  • 10.  Obfuscate the financials Ignore the risks Go it alone Don’t support your assumptions Phone in the executive summary
  • 11.  If your investors don’t get what you’re about, nobody’s going to be happy Sustainability and social good are not excuses for sloppy math or non-functional businesses Want to run a non-profit organization? It’s harder, and the paperwork is much worse You owe it to your community and to make your business work (oh yeah, and your investors, too) – your business plan is your promise to both
  • 12.  If this presentation taught you something or helped you out… ◦ Share it with others who might like it ◦ Modify it and share it some more ◦ Come back here next time and give it – better yet give a better one – and share that one, too ◦ I’ll post it here: http://www.slideshare.net/limeduck Sprout Lenders www.sproutlenders.com David Karp dkarp@limeduck.com

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