I’ve been running around meeting different people with my new business plan. I’m pitching to experienced entrepreneurs and businessmen mainly for constructive feedback.
I work best under an iterative process, trying to refine my pitch AND plan after each presentation. Many times the oral presentations and critical exchanges really take my written thoughts to another level. It’s been an exhilarating experience as some excitingly predict the next slides, while others ask probing questions, and some add interesting perspectives to the idea.
The idea needs further refinement. However, one very encouraging sign is that my audience so far have understood the concept rather quickly. It’s simple, and that’s always been a big point when I review other people’s business plans. The barrier to entry is obvious. The revenue model is easy to understand. The competitive advantage is clear. The target market is broad.
Of course, many good and simple ideas have not succeeded to plan. But clarity and simplicity in a plan that tries to approach an obvious need in a unique manner is a good start.
(I will be sharing more of the business plan after the launch of the company – if indeed that were to happen)