Before investing, venture capitalists will look for the following in your business plan:
- Founders. They focus on the founders, the management team, their work ethics and principles and the commitment of the founders towards their business. One of the key factors can also be whether the owners are open to constructive criticism. Are the founders passionate and experienced in what they do and so on.
- Market Opportunity. They will look at your business model and see whether there is a need for the product or service or not. How large is the market size and would it be worth investing in, in the long-run, what is the opportunity for growth, if any?
- Pitch Deck. How unique is your product or service from those that are similar in the market, are you well aware of your competitors, are your costing and revenue projections realistic and achievable?
- Future Plan. Venture capitalists will be concerned about how their money will benefit the business, what progress will the capital injected make to the business.