About a year ago, I came up with an idea that I thought would revolutionize the way people sell their goods on the Internet. After a lot of planning, I decided to try to attract investors by developing a business plan . I got some advice from my friend Steve who is a very successfulentrepreneur .
First, he told me I needed to figure out my business model . How would my investors make money? How long would it take for the company to be in the black ? Steve said that theproposal would need to show revenue projections for the first five years, and that I should give an estimate of gross sales for that same period.
Steve also said that I should include what I thought was the target market for the new service and my plan for convincing potential buyers that the new service would give them acompetitive advantage .
After working on the plan for a few months, I thought it was ready to show to some prospective investors. All I need is just one big investor to take a chance on it. Hopefully,this time next year , I’ll be well on my way to building a new business empire .