That might mean forging a strategic alliance with another company that can help you distribute your product. They also want to see strategies for expanding your brand and product line, and your plans for broadening relationships with customers. Investors are demanding solid management experience. They want to see executives on a venture's team that have at least three or four years' worth of operating experience in the industry you're targeting. One area is how they differentiate from their rivals.
Many entrepreneurs just slam competitors without offering real facts.
This turns investors off. You need precise data showing why the competition cannot meet the needs of your target market. We are also looking to find out what you plan to do to keep a competitive advantage. Nobody looks closely at a business plan that is sent over the transom, so the most important thing is to get an introduction to the prospective funder through someone you know. If you don't know anyone, hook up with other entrepreneurs who've received funding.