Today’s class provided us poor students with our first glimpse at a formal business plan. While I knew that making one would be time consuming, I didn’t think it would be that awful. Apparently, I was wrong.
A proper business plan is around 25 pages, and has a zillion parts that I really don’t feel like outlining on here due to sheer laziness and because it’ll probably bore most readers to death. If you’d like to examine on yourself, here’s a nice example. The whole explanation was interesting to me until we got to the math portion, in which everything began to go in one ear and promptly out the other. I am not a math person at all, so if I do end up having to build any of these revenue charts it’s not going to be pretty. I apologize in advance to the poor panel of venture capitalists who get to listen to me babble on and on about this stuff at the end of the semester. I’ll try to be coherent, I promise.
The other main part of a proper presentation is the elevator pitch, or a 60-second explanation of your business that is ridiculously simple yet thorough. In case you’re somewhat curious (I know you are), the name apparently spawned from the idea of a “pitch that you could explain to even your grandmother over the course of one elevator ride.” Somewhat peculiar, but I suppose it makes sense. That too shall be fun to figure out, as while I’m somewhat thorough, I am by no means quick nor concise in my descriptions…as if my blog entries haven’t given that way already.
All in all this talk about business plans has made me incredibly anxious. Shocking. Stay tuned for further updates.