Things You'll Need:
- Financial projections
- Market research
- Exit plan
- Marketing plan
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Step 1
Draft an outline of goals and objectives. This is the most important section for lenders. Here, you'll introduce your business strategy and summarize your ideas.
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Step 2
Give a brief history. Describe how your company came together or how you came up with your ideas.
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Step 3
Explain goals in detail. Take a couple of paragraphs to discuss in detail your short-term and long-term goals. Include your target customer and how fast you expect your company to grow.
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Step 4
Pitch your service or product. Explain why your product is marketable or why your service is unique from anything else on the market.
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Step 5
Research the market potential of your service or product. Hire a research firm to put together a report for you or use the Internet to gauge the demand for your product or service.
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Step 6
Develop a marketing strategy. Explain in detail how you plan on selling your project. Be specific about how you will advertise--by word of mouth, search engine optimization, television or radio spots.
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Step 7
Map out a 3 to 5 year financial projection. Put together some spreadsheets for your forecast period, including income statements, balance sheets and cash-flow projections. Explain to lenders how much money you need to cover your startup costs.
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Step 8
Create an exit strategy. Include a section that delineates when your company will bow out gracefully. It can be based on a revenues, profits or market reception or a vote by board members.
