By Omar Barraza
I think business plans are useful and most investors will want to understand your business before investing. It may help to imagine that your business belongs to a stranger and then decide what you would need to know before investing in their business. In any event, the investor gets to decide if they are comfortable with the results.
If you plan to use your own money only, you're the sole investor and you should devote enough time into planning to forecast the probable near future of your business. When you are using the money of others, or plan to soon, you should ask potential investors what they would need to know before they consider investing their money with you.
I think business plans are useful and most investors will want to understand your business before investing. It may help to imagine that your business belongs to a stranger and then decide what you would need to know before investing in their business. In any event, the investor gets to decide if they are comfortable with the results.
If you plan to use your own money only, you're the sole investor and you should devote enough time into planning to forecast the probable near future of your business. When you are using the money of others, or plan to soon, you should ask potential investors what they would need to know before they consider investing their money with you.