How to Write A .com Business Plan: The Internet by Joanne Eglash
By Joanne Eglash
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Additional info for How to Write A .com Business Plan: The Internet Entrepreneur's Guide to Everything You Need to Know About Business Plans and Financing Options Writing & Journalism
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Investors are busy folks, and they may only glance, if that, at your appendix. Be complete and concise as you list the qualities that your managers possess. Here's some advice from an expert. Marian Banker is president of Prime Strategies, which offers coaching, consulting, and training in business leadership. "The management team for a Web-based business should possess the same comprehensive and well-rounded attributes as in any other business," notes Banker. "Financial, promotion, sales, and leadership are specific skills required to support and build any business.
Commenting on Mayfield's positioning in the venture capital industry, Fong noted, "Mayfield is an early-stage firm. We like to invest early in a company's development, work side by side with the management, and help them take it from concept to product to IPO. It's a highly collaborative and participatory process, and we bring a lot of specialized industry experience to the table. " Asked about the importance of the management team, Fong responded, "The management team is the most important element.
The result? Customer satisfaction with both the product and the service. Marketing and Sales How do you plan to market your product? What will you do for public relations? You can have the best product or service in the world—but if there's no buzz, there's no business. Some of the keys to this area are: • Market research: analyzing and evaluating the target sector and profiling your customer. • Focus groups: gathering and using feedback from potential customers and/or clients. • Developing synergy between your marketing and sales teams, so that the information gathered by the marketing group is clearly conveyed to the sales department.