Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
Stop by any day for a new Top Tip of the Day
Your business introduction letter works just like an elevator
pitch: in the shortest
time possible, it generates interest in your business plan.
Your introduction letter is the piece of paper that sits on top
of your business plan when it is delivered. The very best advice
I can give is: Keep the focus on the business plan.
You've got 10 seconds to give it your best shot, or the investor is lost forever.
You have spent a lot of time, effort and money to make the business plan say what you want it to say, so don't try to condense the business plan into a paragraph or two in a letter. Rather, use the letter to invite the reader to open the business plan.
Establish a commonality between you and the lender/investor.
Why have you chosen this particular person or company to write
to? Is he a referral from a colleague? Did you hear him speak?
did you have a few second of pleasantries at a conference? "Per
your request" is a great way to start out, if indeed that is so.
When John Howardson, President of QRP, suggested that I contact you, I knew our business was on the right track.
We spoke briefly at the Community Development Expo yesterday, and you requested that I forward my business plan to your attention.
When your firm backed QRP, you knew that John would locate the enhanced energy co-generation system that QRP needs to succeed. We have that product now.or
Galloping Galoshes is looking for an international banking presence that will work hand-in-hand with us to open new doors throughout Europe.
This company has already exceeded first year projections by more than 30%, due in part to the invaluable connections on our Advisory Board.or
Our ten year track record speaks volumes.
I know that you will feel the same sense of connection that our team does, and I will call you next week so that we can discuss it further.or
Our key people will be at the Southeast Conference in two weeks, and I would like to plan to meet you then. I will call you next week to set the time for that meeting.That's it. One paragraph. Maybe two. Don't try to sell your concept with the business introduction letter -- that isn't its purpose. The whole purpose of the business introduction letter is just to get the lender/investor to pick up the business plan and start to read. Then let the business plan do its job.
The most difficult thing is the decision to act, the
rest is merely tenacity. The fears are paper tigers. You
can do anything you decide to do. You can act to change and
control your life; and the procedure, the process is its own reward.
Aviator and Explorer
For all publications, see The Business Plan Library
THE Financing B Plan
Finance your business now with help from the pros.
Start Up Right Now
Start up knowing you got your bases covered, and have a solid blueprint in place.
Your Home Based Business
Millions have joined the home business revolution. You can too.