Venture capital firms are comprised of individual partners. These partners make investment decisions and typically take a seat on each portfolio company's Board. Partners tend to invest in what they know, so finding a partner that has past work experience in your industry is very helpful. This relevant experience allows them to more fully understand your venture's value proposition and gives them confidence that they can add value, thus encouraging them to invest.
Fortunately, most venture capital firm websites list their partners with great pride. Each partner typically has a bio that includes their educational credentials, business accomplishments and investments that they have made. In identifying the right venture capital partner to contact for your company, try to find the partner that, from their background, will truly grasp the opportunity and can really add value.
Once you have identified the most appropriate venture capital partner, it is important to figure out how to contact them. As partners are often inundated with business plans, having a personal connection and/or introduction is often the difference between getting heard and not getting heard. For instance, if you attended the same university or worked at a company that they did, call or email them and use this as the introduction. If not, it is important to network. Call people that may have been associated with the partner and ask for an introduction.
Getting the partner's attention is the first key hurdle in raising venture capital. The second hurdle is getting them to believe in the opportunity, and finally, giving them the enthusiasm and information needed to convince other partners in their firm that investing in your venture represents a sound investment.
In Business Planning, Competition is Good
When developing the competition section of your business plan, companies must define competition correctly, select the appropriate competitors to analyze, and explain its competitive advantages.
To start, companies must align their definition of competition with investors. Investors define competition as any service or product that a customer can use to fulfill the same need(s) as the company fulfills. This includes firms that offer similar products, substitute products and other customer options (such as performing the service or building the product themselves). Under this broad definition, any business plan that claims there are no competitors greatly undermines the credibility of the management team.
In identifying competitors, companies often find themselves in a difficult position. On one hand, they want to show that they are unique (even under the investors' broad definition) and list no or few competitors. However, this has a negative connotation. If no or few companies are in a market space, it implies that there may not be a large enough customers need to support the company's products and/or services.
Business plans must detail direct and, when applicable, indirect competitors. Direct competitors are those that serve the same target market with similar products and services. Indirect competitors are those that serve the same target market with different products and services, or a different target market with similar products and services.
After identifying competitors, the business plan must describe them. In doing so, the plan must also objectively analyze each competitor's strengths and weaknesses and the key drivers of competitive differentiation in the marketplace.
Perhaps most importantly, the competition section must describe the company's competitive advantages over the other firms, and ideally how the company's business model creates barriers to entry. "Barriers to entry" are reasons why customers will not leave once acquired.
In summary, too many business plans want to show how unique their venture is and, as such, list no or few competitors. However, this often has a negative connotation. If no or few companies are in a market space, it implies that there may not be a large enough customers need to support the venture's products and/or services. In fact, when positioned properly, including successful and/or public companies in a competitive space can be a positive sign since it implies that the market size is big. It also gives investors the assurance that if management executes well, the venture has substantial profit and liquidity potential.
For More Free Resources visit www.oversightsystem.com
April 03, 2008
One-Off Customer to Permanent Business
Numerous businesses develop with one-off customers, which is a risky business strategy. Different industries cater to different client needs. It spans from repetitive to regular to one-off projects. With reference to the latter, this industry will not get a chance to serve their clients again. In such case, how a business can market itself to convert one-off customers to permanent business is a difficult question.
Development of new client base is always a weaker choice. If financial conditions vary, or a fresh competitor steps into the market, there is a possibility that customers will turn to competitors. To increase a business, a repeat customer is preferred than a one-off customer. This fact has forced many businesses to focus less attention on developing one-time customers.
Renewable Income for One-Off Business:
Consider certain steps to get a renewable source of income from a one-off customer. The following steps help to access a renewable income:
• Regular boost ups and check-ups: The way a doctor asks for regular visit, ask the customers to do so. A quarterly or half-yearly backyard updates of scenery designers can force the customers to visit an art gallery regularly. Yearly planning sessions can also enhance the business. As a wedding planner, an individual can offer updates on an admiring basis. A birthday and a party organizer can do the same things, to boost the business. Attract one-time customers and change them into repeat clients. These techniques do not guarantee a large income at once, but do helps to maintain a steady flow of customers.
• Creating products with replacements: Produce or sell products that require replacements on a regular basis. A great source of renewable income is the choice of consumables. Consider the case of inkjet printers, its business can develop by selling replacement ink cartridges. Replacement of products compels a one-time customer to become a regular customer and act as a permanent source of income.
Factors That Hold One-Off Customers:
Few businesses focus on serving one-off customers, and therefore suffer losses in their venture. To succeed in a business, a one-off customer has to become a regular customer. There are many business organizations, which cater to one-off customers. However, most such organizations fail to fulfill the needs of their one-off customers.
Therefore, to retain such clients, it is important to follow certain guidelines. Businesspersons need to remind their one-off customers that only they are the ones, who offer all kinds of products and support desired.
Another way to retain one-off customers is to create new and modified products that are more interesting. The newly designed products can attract old as well as new customers and enhance profits. Keep regular contact with one-off customers through e-mails.
Establish a good rapport with them. Get some ideas from clients end by inquiring what they want in their products. Use mouth-to-mouth publicity to advertise the products. When one-off customers hear praise of companies from which they have already sought a service, they are bound to come back again to make a repeat purchase.
John Elton owns and operates a Best Penny Stocks Picks website to help other investors with their stock decisions. He also operates a Home Based Business earn money online site to help entrepreneurs gain experience and wealth."
Development of new client base is always a weaker choice. If financial conditions vary, or a fresh competitor steps into the market, there is a possibility that customers will turn to competitors. To increase a business, a repeat customer is preferred than a one-off customer. This fact has forced many businesses to focus less attention on developing one-time customers.
Renewable Income for One-Off Business:
Consider certain steps to get a renewable source of income from a one-off customer. The following steps help to access a renewable income:
• Regular boost ups and check-ups: The way a doctor asks for regular visit, ask the customers to do so. A quarterly or half-yearly backyard updates of scenery designers can force the customers to visit an art gallery regularly. Yearly planning sessions can also enhance the business. As a wedding planner, an individual can offer updates on an admiring basis. A birthday and a party organizer can do the same things, to boost the business. Attract one-time customers and change them into repeat clients. These techniques do not guarantee a large income at once, but do helps to maintain a steady flow of customers.
• Creating products with replacements: Produce or sell products that require replacements on a regular basis. A great source of renewable income is the choice of consumables. Consider the case of inkjet printers, its business can develop by selling replacement ink cartridges. Replacement of products compels a one-time customer to become a regular customer and act as a permanent source of income.
Factors That Hold One-Off Customers:
Few businesses focus on serving one-off customers, and therefore suffer losses in their venture. To succeed in a business, a one-off customer has to become a regular customer. There are many business organizations, which cater to one-off customers. However, most such organizations fail to fulfill the needs of their one-off customers.
Therefore, to retain such clients, it is important to follow certain guidelines. Businesspersons need to remind their one-off customers that only they are the ones, who offer all kinds of products and support desired.
Another way to retain one-off customers is to create new and modified products that are more interesting. The newly designed products can attract old as well as new customers and enhance profits. Keep regular contact with one-off customers through e-mails.
Establish a good rapport with them. Get some ideas from clients end by inquiring what they want in their products. Use mouth-to-mouth publicity to advertise the products. When one-off customers hear praise of companies from which they have already sought a service, they are bound to come back again to make a repeat purchase.
John Elton owns and operates a Best Penny Stocks Picks website to help other investors with their stock decisions. He also operates a Home Based Business earn money online site to help entrepreneurs gain experience and wealth."
Online Business,Is it as Easy as it Seems?
In today society a regular 9 to 5 is almost obsolete. New age society are finding easier and quicker ways to make the "o mighty dollar".
The Internet is our new found solution to business, and many people are now deciding to work-at-home. Rather you are a telecommuter or running your own Internet business, there is always a high command for freelancers in just about any field. Nevertheless, the Internet is risky business. There are millions of get rich scams and it seems that everyone is trying to take advantage of unaware visitors. So how does one avoid being scammed?
Clues You are Being Scammed
Clue #1- What do your instincts tell you? Follow your gut instincts. If the company sounds to good to be true, then it usually is.
Clue #2- Is the company asking for a start up cost? If the company is legit and seeking freelance employees, there should not be a cost to you. The only time companies should charge is if they are offering you service. However, if they are requiring your service there should not be a charge to you.
Clue #3- Is the company reputable? In order to find out if a company is reputable you will have to do some research. Search online and find out what others may have to say about the company. You can do this by reviewing forums and blogs, Google company name, check for any reviews. If the company is reputable there will be information online for your review.
Starting Your Own Online Business
Many of us make the mistake of believing that starting an online business is easy as cutting pie.
You have a product or service that you want to offer
You have a website
You have a bank account to start collecting the dough
However, you will soon learn that the pie your cutting is as hard as a brick. The strategy to a successful online business requires much more than a product and a website.
Basic Elements to a Successful Online Business
1. Business Plan- Your Business Plan should include: The product and or service that your company will solicit, target audience, marketing strategy, finances and start up cost, and prediction of expected revenue for the first year.
2. Product or Service- Is your product a well sought after product? You want to offer the public a product that is needed. Your product must practically sell itself. The same with any service that you offer. If the product or service that you offer to consumers is useless, then of course, it want be profitable. Research products and competitors. Answer three questions during your research.
a. Is the product or service in high demand
b. What makes the product or service needed
c. How can you make the product or service unique
3. Website- Most first time Internet entrepreneurs assume that a fancy website is enough. However, your website can be cool, elegant, or professional. Without great written, interesting and informative content it might as well be blank.
Your content should be engaging and informative. You want your visitors to stay and buy.
4. Marketing- It is well advised that website owners should use a professional advertising management company to solicit the website and products online. This is a factor to get high rankings on search engines and to build traffic to your website. However, there are programs available to allow a website owner to lead their own marketing campaign. Leading your own campaign can be challenging if you are new to online marketing. A great marketing campaign is vital to the success of an online business. Without marketing your website you are unable to reach your target audience. This is the main factor for most failures in the online business world.
Running a successful online business is not as easy as one may assume; but, with proper preparation and time it can be a lucrative and successful venture.
John Elton owns and operates a Best Penny Stocks Picks website to help other investors with their stock decisions. He also operates a Home Based Business earn money online site to help entrepreneurs gain experience and wealth."
The Internet is our new found solution to business, and many people are now deciding to work-at-home. Rather you are a telecommuter or running your own Internet business, there is always a high command for freelancers in just about any field. Nevertheless, the Internet is risky business. There are millions of get rich scams and it seems that everyone is trying to take advantage of unaware visitors. So how does one avoid being scammed?
Clues You are Being Scammed
Clue #1- What do your instincts tell you? Follow your gut instincts. If the company sounds to good to be true, then it usually is.
Clue #2- Is the company asking for a start up cost? If the company is legit and seeking freelance employees, there should not be a cost to you. The only time companies should charge is if they are offering you service. However, if they are requiring your service there should not be a charge to you.
Clue #3- Is the company reputable? In order to find out if a company is reputable you will have to do some research. Search online and find out what others may have to say about the company. You can do this by reviewing forums and blogs, Google company name, check for any reviews. If the company is reputable there will be information online for your review.
Starting Your Own Online Business
Many of us make the mistake of believing that starting an online business is easy as cutting pie.
You have a product or service that you want to offer
You have a website
You have a bank account to start collecting the dough
However, you will soon learn that the pie your cutting is as hard as a brick. The strategy to a successful online business requires much more than a product and a website.
Basic Elements to a Successful Online Business
1. Business Plan- Your Business Plan should include: The product and or service that your company will solicit, target audience, marketing strategy, finances and start up cost, and prediction of expected revenue for the first year.
2. Product or Service- Is your product a well sought after product? You want to offer the public a product that is needed. Your product must practically sell itself. The same with any service that you offer. If the product or service that you offer to consumers is useless, then of course, it want be profitable. Research products and competitors. Answer three questions during your research.
a. Is the product or service in high demand
b. What makes the product or service needed
c. How can you make the product or service unique
3. Website- Most first time Internet entrepreneurs assume that a fancy website is enough. However, your website can be cool, elegant, or professional. Without great written, interesting and informative content it might as well be blank.
Your content should be engaging and informative. You want your visitors to stay and buy.
4. Marketing- It is well advised that website owners should use a professional advertising management company to solicit the website and products online. This is a factor to get high rankings on search engines and to build traffic to your website. However, there are programs available to allow a website owner to lead their own marketing campaign. Leading your own campaign can be challenging if you are new to online marketing. A great marketing campaign is vital to the success of an online business. Without marketing your website you are unable to reach your target audience. This is the main factor for most failures in the online business world.
Running a successful online business is not as easy as one may assume; but, with proper preparation and time it can be a lucrative and successful venture.
John Elton owns and operates a Best Penny Stocks Picks website to help other investors with their stock decisions. He also operates a Home Based Business earn money online site to help entrepreneurs gain experience and wealth."
Online Business,Is it as Easy as it Seems?
In today society a regular 9 to 5 is almost obsolete. New age society are finding easier and quicker ways to make the "o mighty dollar".
The Internet is our new found solution to business, and many people are now deciding to work-at-home. Rather you are a telecommuter or running your own Internet business, there is always a high command for freelancers in just about any field. Nevertheless, the Internet is risky business. There are millions of get rich scams and it seems that everyone is trying to take advantage of unaware visitors. So how does one avoid being scammed?
Clues You are Being Scammed
Clue #1- What do your instincts tell you? Follow your gut instincts. If the company sounds to good to be true, then it usually is.
Clue #2- Is the company asking for a start up cost? If the company is legit and seeking freelance employees, there should not be a cost to you. The only time companies should charge is if they are offering you service. However, if they are requiring your service there should not be a charge to you.
Clue #3- Is the company reputable? In order to find out if a company is reputable you will have to do some research. Search online and find out what others may have to say about the company. You can do this by reviewing forums and blogs, Google company name, check for any reviews. If the company is reputable there will be information online for your review.
Starting Your Own Online Business
Many of us make the mistake of believing that starting an online business is easy as cutting pie.
You have a product or service that you want to offer
You have a website
You have a bank account to start collecting the dough
However, you will soon learn that the pie your cutting is as hard as a brick. The strategy to a successful online business requires much more than a product and a website.
Basic Elements to a Successful Online Business
1. Business Plan- Your Business Plan should include: The product and or service that your company will solicit, target audience, marketing strategy, finances and start up cost, and prediction of expected revenue for the first year.
2. Product or Service- Is your product a well sought after product? You want to offer the public a product that is needed. Your product must practically sell itself. The same with any service that you offer. If the product or service that you offer to consumers is useless, then of course, it want be profitable. Research products and competitors. Answer three questions during your research.
a. Is the product or service in high demand
b. What makes the product or service needed
c. How can you make the product or service unique
3. Website- Most first time Internet entrepreneurs assume that a fancy website is enough. However, your website can be cool, elegant, or professional. Without great written, interesting and informative content it might as well be blank.
Your content should be engaging and informative. You want your visitors to stay and buy.
4. Marketing- It is well advised that website owners should use a professional advertising management company to solicit the website and products online. This is a factor to get high rankings on search engines and to build traffic to your website. However, there are programs available to allow a website owner to lead their own marketing campaign. Leading your own campaign can be challenging if you are new to online marketing. A great marketing campaign is vital to the success of an online business. Without marketing your website you are unable to reach your target audience. This is the main factor for most failures in the online business world.
Running a successful online business is not as easy as one may assume; but, with proper preparation and time it can be a lucrative and successful venture.
John Elton owns and operates a Best Penny Stocks Picks website to help other investors with their stock decisions. He also operates a Home Based Business earn money online site to help entrepreneurs gain experience and wealth."
The Internet is our new found solution to business, and many people are now deciding to work-at-home. Rather you are a telecommuter or running your own Internet business, there is always a high command for freelancers in just about any field. Nevertheless, the Internet is risky business. There are millions of get rich scams and it seems that everyone is trying to take advantage of unaware visitors. So how does one avoid being scammed?
Clues You are Being Scammed
Clue #1- What do your instincts tell you? Follow your gut instincts. If the company sounds to good to be true, then it usually is.
Clue #2- Is the company asking for a start up cost? If the company is legit and seeking freelance employees, there should not be a cost to you. The only time companies should charge is if they are offering you service. However, if they are requiring your service there should not be a charge to you.
Clue #3- Is the company reputable? In order to find out if a company is reputable you will have to do some research. Search online and find out what others may have to say about the company. You can do this by reviewing forums and blogs, Google company name, check for any reviews. If the company is reputable there will be information online for your review.
Starting Your Own Online Business
Many of us make the mistake of believing that starting an online business is easy as cutting pie.
You have a product or service that you want to offer
You have a website
You have a bank account to start collecting the dough
However, you will soon learn that the pie your cutting is as hard as a brick. The strategy to a successful online business requires much more than a product and a website.
Basic Elements to a Successful Online Business
1. Business Plan- Your Business Plan should include: The product and or service that your company will solicit, target audience, marketing strategy, finances and start up cost, and prediction of expected revenue for the first year.
2. Product or Service- Is your product a well sought after product? You want to offer the public a product that is needed. Your product must practically sell itself. The same with any service that you offer. If the product or service that you offer to consumers is useless, then of course, it want be profitable. Research products and competitors. Answer three questions during your research.
a. Is the product or service in high demand
b. What makes the product or service needed
c. How can you make the product or service unique
3. Website- Most first time Internet entrepreneurs assume that a fancy website is enough. However, your website can be cool, elegant, or professional. Without great written, interesting and informative content it might as well be blank.
Your content should be engaging and informative. You want your visitors to stay and buy.
4. Marketing- It is well advised that website owners should use a professional advertising management company to solicit the website and products online. This is a factor to get high rankings on search engines and to build traffic to your website. However, there are programs available to allow a website owner to lead their own marketing campaign. Leading your own campaign can be challenging if you are new to online marketing. A great marketing campaign is vital to the success of an online business. Without marketing your website you are unable to reach your target audience. This is the main factor for most failures in the online business world.
Running a successful online business is not as easy as one may assume; but, with proper preparation and time it can be a lucrative and successful venture.
John Elton owns and operates a Best Penny Stocks Picks website to help other investors with their stock decisions. He also operates a Home Based Business earn money online site to help entrepreneurs gain experience and wealth."
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