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Your business plan isn’t complete without a financial forecast. Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself. IntellectualProperty : Again, this mostly applies to technology and scientific ventures. Read more ». Financial Plan. Read more ».
Furthermore, Dave reminds us that “it was created specifically for the earliest stage investments as a way to find a starting point without relying upon the founder’s financial forecasts.”. For example, some investors would not fund a company without at least a minimum of customer feedback or intellectualproperty.
Set time aside to sit down and revise the plan , comparing forecasts to actuals and revising as necessary. . With the rise of new cannabis companies, it is important to differentiate your cannabis company from the competition, whether you are opening a farm, extraction operation, or dispensary. Competition and competition matrix.
Check your business name doesn’t conflict with that of another business, by looking up the free online registers provided by the IntellectualProperty Office of New Zealand and the NZ Companies Register. What differentiates your business from its competitors? What’s the financial forecast?
Key parameters always include opportunity size and forecast. Some element of “secret sauce” or intellectualproperty. Even if I am impressed with your technology, you have to convince me with evidence that your customers are ready to buy, and you have what it takes to differentiate from competitors.
Rodney highlights the significance of selecting the right areas for transformation that can deliver a differentiating value, plus the importance of upskilling and reskilling existing talent within digital changes. It's something we have to invest in, but it's not, uh, competitively differentiating. And we wanna see the world do better.
Be able to differentiate your offering from competitors. The best differentiation is a patent or other intellectualproperty that also provides a barrier to entry. Generate a 5-year financial forecast from opportunity data. Remember you can’t sustain a business or social cause with no revenue or profit.
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