Let's be honest, a great business plan alone is not sufficient for you to land a deal but it sure helps! For a start-up that is going through the fund raising process the first impression of the company is often conveyed by the business plan. So how do you as an entrepreneur make sure that your business plan makes it past the first screen?
"I want to retain more than 50% of my company so that I and not the investor has control." - This is a common sentiment that I hear from many entrepreneurs. The classic mistake being made here is that the entrepreneur equates share ownership to control. At the time of negotiation, this sentiment boils down to a single number - Valuation! Entrepreneurs end up fighting for this magic number like a lioness protecting her cub and as a result I have seen deals die early on at the negotiating table.
Can't make it by The Ranch? Check out Tech Ranch content for free 24/7 on our official Tech Ranch TV page!
