Definitive Business Plan, Second Edition, The

Back to the drawing board

If you are rejected, the best consolation that you can have is knowing why you failed. Always ask. At worst, you might learn something that will improve your business plan or next presentation. Or better, there might be a simple gap that you can close. We like your proposal but we have decided not to invest unless we have. …

If you are getting nowhere, you need to consider redrafting some or all of your business plan, or maybe revisiting the strategy. I was once involved with a business plan for a unique invention. I cannot tell you about it specifically because it is still under wraps. The point is that there was absolutely no competition for this amazing item. But it soon became clear that saying this was counter-productive. ...