by: Lauren Randel, Director of Marketing & Communication
What Is The Product or Service?
Explain in thirty seconds or so and use terms and phrases a 5th grader would understand. This is an elevator pitch, meaning you would have time to give someone in an elevator with you a very quick summary of what you do.
What Is Your Unique Value?
Give a brief synopsis of why clients should choose your product or service. Highlight what make you different from your competitors.
What’s The Market Opportunity?
Illustrate market opportunity by answering these questions: How many total dollars are spent in your specific market each year? Is yours a growing market? Give projections on how much of the market share you think you can gain over the course of a year.
How Do You Plan To Make Money?
What is your business model? Will you provide a subscription based service? Will you sell a physical product? Will you be listed as a service provider or a freelancer?
What Is Your Long Term Vision?
Will your website be a premiere destination for small businesses to run their business? Will you be the most comprehensive resource for a particular niche market? How do you want others to view your business?
How Do You Intend To Sell Your Business?
What is your marketing plan? How do you plan to acquire customers? What will your customer acquisition costs look like?
How Much Capital Do You Need To Get Started?
Give an itemized projection for each area of your business.
Who Is Your Management Team?
Why is each member you have chosen qualified to help build this business? List the experience of each member of the leadership team. Highlight past successes of each person.
What Are Your Projected Financials?
Include data for up to three years out, and most importantly the next year. Include how you plan to make the money and how you plan to spend it in detail.
What Is Your Preliminary Valuation?
This is the value of your company? This is what you believe someone would be willing to pay to acquire your business right now.