By Eryn Gable Only last year, booming dotcoms seemed all the rage. You could pop into almost any San Jose coffeehouse and find at least one MOP millionaire on paper. But now many of those papers have made their way to the trashcan as dotcom after dotcom faltered, flopped and just plain failed. We've asked her to share some of her tips on writing a dotcom business plan. A thoroughly developed business plan can make the difference between a company that succeeds and a company that fails.
Many entrepreneurs have wonderful visions.
They borrow money from friends or relatives in their eagerness to transform their dream businesses into a reality. Unfortunately, if they fail to plan all the essential elements of their business, such as customer care, and haven't researched the market to understand their customers' needs, the likelihood for their long-term growth and profit is minimal. Keep your business plan concise, clear and coherent. Potential investors are busy people, and they don't want to hunt through 100 pages of an executive summary to find your main points. As I probed into precisely what the distinction was, I recognized that although the basic sections of the business plan remain the same, the considerations differ dramatically.