How much does an investor value an actual business plan compared with how you present it? I feel I always come across better face-to-face, rather than on paper.
Both face-to-face presentation and written information are equally important, purely because everyone is different and you simply don’t know what the investor prefers.
Personally, I am always watching how the idea is presented but appreciate the professional business plan when it’s prepared.
In any circumstance when you are seeking funding, the best way is to cover all bases, demonstrate your effort, work and thinking process.
It’s one thing to win an investor over with your charm face-to-face but inevitably you will need to move to the next stage with a business plan, so why not have it all there, ready for the taking at the outset.
I may know a good idea and a person worth investing in within the first five minutes but if they can’t back it up with solid evidence of their intended approach, research and of course, figures, they’ve lost me just as quickly.
Practice your presentation both verbally and in written form and you will be better off than just relying on one of these components.
Consider this, if the shoe was on the other foot and you were the investor, what would you want to see?
Andrew Sadauskas is a former journalist at SmartCompany and a former editor of TechCompany.
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