Released on: March 15, 2008, 9:41 am

Press Release Author: Anil Thakur

Industry: Management

Press Release Summary: Investors, like the rest of us, have different tastes. One
investor may love a concept and/or business plan while the next may hate both. It is
important to understand this as business plans are working documents and are always
undergoing iterations.

Press Release Body: Investors, like the rest of us, have different tastes. One
investor may love a concept and/or business plan while the next may hate both. It is
important to understand this as business plans are working documents and are always
undergoing iterations.

Management teams must not rush to incorporate each potential investor’s comments.
Instead, have several investors, partners and other business colleagues review the
plan and provide feedback. Then incorporate common concerns and probe other comments
to determine if they are valid.

Always try to understand the rationale behind an investor’s comments. For instance,
an investor may poke holes in a business plan if it doesn’t have enough funds to
fully fund the opportunity. In this case, the investor’s criticism is solely for
them to save face.

However, if you are hearing the same feedback from multiple investors, it is
probably valid. In such cases, be humble. Tell investors that you appreciate their
feedback and modify your strategy and plan appropriately. You may then be able to
re-approach these investors with great success.

Many investors have significant operating and investing experience and can quickly
and expertly find potential flaws in a business plan. Seek out investors who have
such experience, and be open to their suggestions. Just don’t take one point of
feedback and blindly follow their advice. It is also important to note that even the
most successful and largest public companies have Boards that provide similar
feedback and advice, so don’t take criticism and feedback as a sign that something
is wrong with your venture. Rather, use it as a launching pad for an even stronger
business.


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