|
Is an "Implementation" section a viable part of a business plan? From the entrepreneurs perspective it would seem so, as I feel like it would be really helpful to document how i plan on creating my software, developing my website, marketing the product etc. For a VC or Investor, is it something they'd like to see described in any depth in a business plan? I feel like I might be a bit delusional thinking they want too much detail about the implementation of the project... What do you guys think? |
|||
|
|
|
You definitely want an implementation section - here's why. First, while not every investor will want to see this in detail, knowing that you have a thoughtful and realistic approach to your project will give you more confidence and improve your ability to convince investors that they should invest with you. Second, you want this as a guide to help you get things done. A good idea is great - but - it's in the category of "necessary but not sufficient". You need to complement your good idea with a solid view of how you're going to make everything happen - it doesn't have to be perfect and it is totally fine to modify it as you proceed. Execution matters. |
|||
|
|
|
An investor will want to know how you will use their money. So, yes, implementation is an important part. Documenting your implementation plans shows that you know your stuff. Now, they may not read the whole detailed plan but they will be looking for buzzwords that show your implementation chops. BTW, most VC's (if not all) don't read business plans. They typically only look at your Executive Summary, Power Point Pitch and Financial model. You need to think about and document your plans but as for formally submitting them, that usually does not happen. It's still good to do because you will get drilled on all aspects of your business plan at any pitch meeting, so be prepared for that. |
|||||
|
