When I am presenting my business plan to investors I have to think like an investor. Mark Cuban and Daymond John both determine if there is a need for the product or service. I will explain to them why my services are needed and show them the huge market. Like Cuban and John, all investors are looking for ROI. I have to prepare my financials and show them how their money will multiply. Having a thorough lists of start up costs and beginning salaries will show them that I have thought the money aspect out completely. Using web tools like Google Analytics that show who my target market is will also help my business plan. There will also be a list of potential marketing campaigns and the cost of each in the business plan. Investors also look at past financial records of the business owner. I probably will not have any financial records for them to review other than my personal history. I have to make sure that this is all in order, so they can trust me with large sums of money to run a business.
As well as making sure the business and the financials are well explained, I have to prove my product. I will have examples of production work and a demo reel that shows why customers will be interested in my company. These investors also see if there is potential growth for the company. Because of the nature of production, there is always room for growth. Wether it is more advanced technology, or employing more staff in order to tackle more projects, production companies can always expand and even franchise.
John and Cuban also look for how they can contribute to the partnership. When i target investors I will target those who have built companies from ground up. I will also target investors who are familiar with video production work.
No comments:
Post a Comment