The Q&A session following a business plan presentation is normally the liveliest. If you’re not prepared for it, it will definitely show. To make the job easier for yourself, you can come prepared with predetermined answers for some business plan frequently asked questions. These are some biz plan FAQs you must have answers to prior to your business plan presentations!
- What is your vision?
- What problem are you trying to solve and for whom?
- Where do you or your company want to be in the future?
- How big is your market and what is the growth rate?
- Is the market ready for your product?
- How do you intend to become of the top players in this market?
- Why is the timing right for your product/service now?
- What is your product or service?
- What problem will your product be solving?
- What is unique selling proposition about your product/service?
- Who are your existing or target customers?
- What is an ‘ideal’ customer prospect for your company?
- What is your value proposition to your customer?
- What kind of ROI can your customers expect by using your product/service?
- What pain are you eliminating or are you selling a nice to have?
- Who is the management team? How do you intend to grow the team?
- What is each member’s work experience?
- What team members are missing and what is the plan to fill these open positions?
- What is your revenue model?
- When and where is your break-even point?
Stage of Development
- What is your stage of development? 2D prototype, 3D prototype, Product engineering, User testing, Full production?
- What are the plans for future products?
- What are your future milestones?
- What funds have already been raised?
- How much money are you raising and what is your valuation expectation?
- How will the money be spent?
- How long will the new money last and what milestones will be met?
- How much additional financing do you anticipate and when?
- What is your burn rate?
- Who is your existing and likely competition?
- Who is adjacent to you in the market that could enter your market?
- What are your competitors’ strengths and weaknesses? What are yours?
- Why are you different?
- Who are your current and possible future technology and distribution partners?
- How dependent is your model on these partners?
- What assumptions have you made when coming up with your business plan?
- What are your companies’ weaknesses and threats?
Having answers to the above biz plan faqs will go along way in providing satisfactory answers to any question that your audience may have at the end of your presentation. The result will be an enjoyable Q&A session for you and your audience.