Reference no: EM13724367
Starting a business- Food Truck Business
Apply the elements of marketing as it applies to entrepreneurship.
Your elevator pitch: a succinct description of your products or services, market, and competitive advantages.
Size of opportunity: this is what investors - Venture capitalists (VCs) even more so than "angels" - want to know. To what size can your company potentially grow and what are your plans for future development?
Your specific target customers: who they are and the customer needs that your product will meet.
The market size: numbers and dollars, past growth, growth forecasts. Is there a market in my community for this kind of business?Will people buy my product or service?
The competition: division of market share, how your product compares to theirs, your value proposition in comparison to the competition's, and barriers to entry.
The business model: how you will distribute your product, pricing strategies, how you will reach your customers?
Apply the elements of management as it applies to entrepreneurship.
Your team: who they are, past successes and experience, and why they are qualified to do the job.
The timeline: when you expect to reach key milestones.
Who are your suppliers?
Apply the elements of finance as it applies to entrepreneurship.
Financials: a brief summary of key points from your income statement and balance sheet.
Funding: how much you are asking for in this round, how many future rounds are expected, how much you will request during those rounds, and how the funds will be used.
The investment opportunity: potential exit strategies and financial return for investors.
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