by ELLE KAPLAN @ellekaplan
Even if you never plan to pitch a venture capitalist, you should still have a financial plan that can stand up to tough scrutiny.
So you’re not pursuing venture funding, you’ve eschewed angel investors, and you’re going to bootstrap. I’m all in favor (after all, that’s how I grew my asset management firm, Lexion Capital), but you should still create a detailed business proposal, just as if you were going to pitch to a roomful of the toughest venture capitalists.
You’d never hop in the car for a road trip without first researching the route you’ll take to your destination. This is no different: A business proposal will serve as your financial road map throughout the journey to come. Here’s the how-to on translating your vision into numbers.