If you dream of starting your own business, there may be just one, small thing standing in your way - lack of funds! One way around this, is to enlist support of a "sleeping partner" - no, not that sort of sleeping partner! But someone who will provide financial backing for you to set up your business (and allow you to keep control).
There are many places that provide this start up help, such as banks and joint venture companies, but you can approach anyone you think might be willing to back you, if you have a business proposal prepared.
Here's a brief outline of what you need to include in your proposal.
Executive Summary · Provide an outline of your vision for business · Briefly describe what already exists in this field · The niche - as you see it and benefits your business will bring · Type of business proposed - benefits you will bring to market niche · Overall financial goals - anticipated sales and profits · Funds required to start up business
Business Profile You must provide details of following: · Business name · Principals · Description of business - what it aims to do and its target market · Vision - ultimate goals · Mission - value, service you'll offer · The competitive advantage you have - eg flexibility, able to draw on wide base of talents, connections in industry etc
SWOT analysis This is where you analyse your proposed business, yourself and competition - list examples under each of following: · Strengths · Weaknesses · Opportunities · Threats Be honest with these - but only put in threats and weaknesses that you know you can meet and overcome successfully.
Objectives Detail what your short and long-term objectives are for business: · at end of first 12 months of operation · after 12 months
Product and Market Analysis This requires some exacting research, so you can provide plenty of detail. · Product / Service - description of what you're offering · Features · Benefits · Price structure · Industry description and outlook · Market demand - percentage of market you think you can capture; competition share you think you can take etc
Operating Plan Outline your resource requirements - what you need in order to operate and what this will cost. List items and specify prices. Provide name of suppliers. Use tables, graphs etc to support your claims.