So anticipate these questions from investors: Of course, your financial projections will not be perfectly matched with your actual results, but your financial projections can be revised as you move through the stages of your business.
There are a variety of reasons why investors turn down startups and entrepreneurs.
Of course, you want a “minimum viable product” (MVP) to begin with, but even that product should be good and differentiated from the competition.
Having a “beta” test product works for many startups as they work the bugs out from user reactions.
Try this exercise: For now, your goal is to write something quickly and move to the next sections.
As you develop your business plan, you’ll find ways to revise this headline to more accurately summarize your unique business, vision statement, and the specific value you bring to customers.
There are more important things you can do to build a successful business.
For additional advice, and a sample pitch deck, see How to Create a Great Investor Pitch Deck for Startups Seeking Financing and Want to Raise Financing for Your Mobile App Startup? It also gives you some momentum and traction and helps you recruit partners and employees.
Let’s move on to the next sections, knowing we’ll return to make changes often.
This is the most important section for many early-stage startups since it ensures that your product is not a “solution in search of a problem.” You must prove that real people are willing to give you money for your product.