Finding Funding, Part 3

Tips for writing a financing-friendly business plan

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Make sure your plan is complete. Even if your executive summary sparkles, you need to make sure the rest of your plan is just as good and that all the necessary is included. Some are in such a hurry to get financing, they submit a condensed or preliminary , promising to provide more information if the recipient is interested. This approach usually backfires for two reasons: First, if you don't provide information up front, will assume the information doesn't exist yet and that you are stalling for time. Second, even if investors are interested in your preliminary plan, their interest may cool in the time it takes you to compile the rest of the information.

Tomorrow: Conclusions on writing a business plan that will win you funds.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need

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