They need not be investors, but should be able to step in if the business flounders. Submit information about any past financing your business received - how much, and especially how the money was spent. The projected time in which entrepreneurs will more than recoup their initial investment and exit the business. Opinion of customers - Allen said his firm pays firms like Gartner Group Inc. of Stamford and Forrester Research to gather data, including customer comments. Capability of the management and its board to run the business.
Leadership potential the company shows in a large and growing market.
Credibility of projections - not just revenue forecasts, but the company's model for making money. Also at the seminar was Kevin McGovern, the chairman and CEO of McGovern Capital in Greenwich, Conn., and New York City. Intensity - Entrepreneurs should have a passion for their work. Intelligence - Knowledge and insight into the market. More details on writing effective business plans are expected to be presented at the Westchester Venture Group's next meeting on Sept. 19.