Submit a draft full business plan. This will allow a week of refinement. The plan should be over 10 pages long, be a pretty document with graphs pictures and forecasts, and convey the story regarding your business.
Sample sections that would be in the business plan are below.
Summary of the Company
Financial Summary (financials and projections summary)
Target Market – Size and Growth of opportunity (market size, market growth rates, insights into the market, etc.)
Customers – who target customer are
Value Added Services
Core Company Capabilities – what the company does
How firm makes money – unit economics, what customer purchase, how much they spend for your product, what makes them buy,
Uniqueness of Business – what makes you different
What Problems does your business solve
Who are your competitors – what are they doing now, what are they purchasing now, how are they purchasing now
SWOT analysis – Strengths, Weaknesses, Opportunities, and Threats
Context – how is your market changing and how will changes in the market benefit or hurt you (regulatory, technology, customer needs)
How do you sustain a competitive advantage over time?
People involved in the business – your bio, types of folks that you want to hire (bio), types of folks you want on advisory board to give advice to firm
What types of folks you want to hire as company grows and what relevant experience would you be looking for – could be experts in manufacturing, sales, marketing, industry, regulatory, and other folks who would help the company grow
Insights regarding how you plan to grow the organization?
Financial Performance and Projections
Financial model – more detail than executive summary
Assumptions for projections
How firm makes a profit
What is the break even for the firm – # of customers, sales,
Profitability of business
Do you sell direct, work through channels such as retail; embed your technology in other firms’ products, ect.
Do you build intellectual property assets such as patents and focus on licensing the technology or sell the IP to a strategic firm who can benefit from your IP
Are you Raising Capital and if so, why you are raising capital?
How much capital is needed and what will it be used for (or how much money do you need for donations for a social entrepreneurship venture)
Where do you see the company in 5 years?
Expand product lines