Well... few tips from me too. I started my consulting business without a business plan or a capex. Yet, I could generate some money for me. But there are still few important things to look at while preparing a business plan to launch a product-
- You need to show a full conceptual view of your product. I mean people should think beyond the usability of it. Highlight on why did you decide to build this particular product and what are the benefits of it. Also what are the possible innovations.
- Next, add a section full of only technical information. Load it with unheard jargons and specifications. People should know you have done extreme hard work. Add the number of people you will need for a minimum to keep your design and production unit running.
- Keep your marketing plan ready, including how many number of people you will need, at what stages and what locations. Give a resource ramp up strategy for an year at least.
- Show a 5 years revenue growth and expense/investment plan. Assuming you have mentioned the price and cost of the product, do not fail to add a note on why are you charging that much. Keep a buffer aside for R&D.
- If approaching VCs, tell them where all the money you borrow will be put. If you are asking money from a Bank, give a time line as to when will you need the disbursements (monthly, or quarterly...Bank works that way). Show the break even as per an assumed growth rate. Also add a note on how much time do you need to to agree to the SLAs (for services) and productivity matrices. (The Bank will ask this)
- Finally, speak about assured commitments, if any and share allotment to the Bank/VC.
- Add an executive summary of all the above in the beginning.
I hope this helps. If you need assistance for preparing a Biz Plan, let me know. I'll charge on $000.0000 for you
