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November 18, 2016

[Video] Do I need a business plan to get a seed investment? – Bobby’s Minute, ep. 58

ep58

A good entrepreneur is always prepared to pitch. What does that tell you?

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Transcript:

Do I need the business plan in order for my startup to get seed investment? The answer is “yes”, you need a business plan. Even if it’s not really detailed, you still need a business plan for your startup to get investment.

While we hear a lot of stories of investments signed on the back of a napkin, in a pub or similar stuff, this is not true for most people. It may happen, but it’s not true for most people. Most of the startup founders actually have an idea of a business plan when presenting to an investor.

Yes, it can be a short business plan, like: “We estimate this amount of revenues, we estimate this amount of cost and we kind of estimate this amount of profit”. You still need to look over the numbers and have them at hand when you meet with a potential investor.

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