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Alejandro Suárez Sánchez-Ocaña. Entrepreneur and private investor in the Internet sector and new technologies.
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Failure to perform a business plan
Do I need a business plan to start a business? The answer is: it depends, though, personally, I recommend it. For the entrepreneur a business plan is like the banks: a necessary evil. If you want to start a business and you have to do a 'road show' in search of financing (banks, investors ...), your 'business plan' will end up being a necessary tool Continue reading "errors when doing a business plan" Tags: Business plan , business plan mistakes , there is a guru in my soup , business plan
The reasons why I will not invest in your project
I imagine that is the issue, although I'd like to think not only that, but these weeks I've had in my hands more than 30 different business plan. Too. Some good but many even surreal. I do not think there is such a scandalous pursuit of money, which I think is tremendous to conclude real that many of these projects do NOT need money really. I really think that much of a project said to have begun to walk and not be just a PR on paper. It is important to see the ability, even without money, begin to shape a project and not simply focus the efforts of entrepreneurs in getting funds as an end. I wanted to write this post to discuss the main problems that makes me reject or not value a possibility of inversion. Some are very obvious, but too frequent. The other day having lunch with one of the best known Business Angels in Madrid, we were surprised and commented on how projects were coming to our hands, which, without being developed, with no more than a business plan on paper, without even having demonstrated ability of entrepreneurs, and ask for input, without showing any figures xxx.xxx Euro up, many of them to "international expansion" (a company that sometimes not even there yet). I may be interested in investing in a startup to expand internationally when the reality does not. Only 3% of the Spanish projects actually manage to leave the country, and before even thinking about leaving Spain you have to think if you can mount in Spain! On paper, a project that you can not ride in your country for you to ask only difficult in the first phase already planning to expand money. Other things that have pushed back these days on various projects. - Similarity: For example I had on the table 7 draft geolocation summer. Too hard to pick the winning horse. - Exaggeration: inflated figures. Working in online advertising since 1998 and working with all agencies. If your forecast for the early years from scratch, is triple my annual revenue with millions of users, something goes wrong. - Projects that do not value competition: There are dozens of projects that do not foresee competition in the sector. Only value the current players and there made a searching for new players that will appear. - Unit only advertising: In the same meal the other day we mentioned that advertising can not afford everything. If you can pay for content, but you can not expect to mount a massive structure based on projections of the advertising market that are not real, or even to be, not fully appreciated as the number of new publications that will deliver that growth. In some cases a 18% market growth vs 50-60% annual growth media. - Self-employment: self-employment Startups are camouflaged under the approach of "get up XXX.XXX, I get a monthly salary of 5,000 euros and income poor and won the money." Forget it, there are fewer business angels to risk their money on approaches that will only benefit you, to invest in someone, and that is not very romantic, we want to make money in the medium term or less general value. - You do not need: When asked where are you going to spend, you know give real answers. Want 50 or 100,000 euros and do not know where to spend it to generate value. Spend on a vacation and get on the salary is not enough. If necessary for marketing, need and want to see a media plan, not a game of 100,000 euros for that, I believe and value that you know how and where to spend it. - Little attention to the promotion: Project staff with a load of 60% and only 7-10% in advertising and marketing. It's not real. - Professional PowerPoint and pdf: Excellent presentations and business plans, unreal, without any possibility, but they would win any contest complete Business Plan, developed well-defined, but based on false premises. People who live to make the Business Plan, and they do great, but do not seem to be equally able to develop, even seems to be viable. - Cost Technology: 70% -80% of the Business Plan in recent months do not value technological investment and operating cost and curiously not updated to 24 months ahead while if more growth is expected: It's not real, growing costs money especially in technology. - The Megaidea: There are entrepreneurs with innovative ideas to consider worldwide. Forget 99% of cases. Your idea is not unique, not revolutionize the world and will not change. Often it is not the idea, which costs money and is the team builds confidence, capacity development. The idea is possibly invented. - Clones: I have seen 6-7 clones based on ideas or Twitter. Although none has told me that business model to follow, or how they can compete and beat the original, although I have not even seen as intended or as it will monetize Twitter itself. These are ideas for fashion. Tags: Business Angel , Business Plan , Entrepreneurship , strategy , investment , projects
Keys to undertake: Concern
This week we are especially busy, from the media presentation next Wednesday Yes.fm , until we are finalizing the assembly of office and selection of ocio.net , and I have up to 11 business plan and projects carefully consider the above table ... that is why on Monday, have not updated my blog (yellow card for me). As I have said a lot of projects, ideas, and business developments on the table. Some investment as possible, others simply entrepreneurs who have had the courtesy to send me yours for advice and / or opinion. First of all I say I love seeing projects. First of egoism, I "kept alive" even during times of market circumstances in which our own (other ongoing projects, workload, lack of liquidity) I can not participate in any of them but if you value the idea, and as far as I can, offer an opinion that could be wrong, but always sincere and based on my experience. I have read in recent weeks in some blogs, such as Charles White , or is not money , or the latest being that of Emilio Marquez to finally demystifies "the idea." As I once stated in a post about it, I am more worried that entrepreneurial idea, if an entrepreneur has wood, you may need to try several times, but come. I think it best defined Emilio Marquez was quoted a popular saying that "$ 1 for an idea - $ 1,000,000 to develop." But the entrepreneur is not everything. There are cases of people tremendously meaningful information on the role that often "fall by the wayside" stuck and unable to move. There, in that role comes an intangible that I call "unrest". Concern to undertake, to believe in your own project, to fight for it and to stand up for him, of Reframing and if necessary redefine it, to know to step back to take two steps forward then. It is an intangible, something that is not metered or be reflected in an ever excel, and that is one of the lines separating a Director General who may be a frustrated entrepreneur, an entrepreneur who will never be a CEO frustrated. That "plus" that "modus vivendi" is one of the greatest assets to find an entrepreneur. Not better or worse than not having it, is simply different analyzing the projects I have on the table,-that it take even weeks to see slowly, you can not find that spirit. You can see good projects, good ideas, equipment powerful on paper, interesting sectors or even good business prospects, and are important values, but I personally when I find a project that catches my attention, before defining myself, I just want to "know" the entrepreneur, to eat with him, spend some days with him, chat, meet my vision and measure intangibles, including my feeling about "unrest" to undertake. And those values, even you can not find an excel sheet or in a power point. Tags: Business plan , Entrepreneur , concern
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