Write on Paper, Not “Parchment”

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Write on Paper, Not “Parchment”

When writing your business plan, stay clear, concise and succinct. Follow these three simple guidelines to better make your point to your intended audience.

1. Cut pretense – and acronyms. If you focus on impressing your readers, you have already lost the plain English fight. Unless your business involves reinstating Shakespeare-era speech, use short simple words that we all understand. Similarly, don’t assume your audience – particularly a potential investor – understands your acronym. Spell it out at least once, please!

2. State your point in the first sentence. Make your point up front. Avoid the temptation to describe how the founders developed the Company or to use statistics and cite publications demonstrating the need for the product. This won’t impress investors and other readers of your business plan. Your ability to succinctly state your plan, however, can impress them by showing you understand and are focused on the market opportunity.

3. Use easy to read formatting. Few people read every word of your business plan before determining if they are interested in learning more about your startup. Use headers, bullet points and new paragraphs for each new idea so that a quick scan of your plan makes your business purpose and model clear. To keep it really clean, add a space between points and paragraphs.

You’ve Got VC Money: The Punchlist

As outside counsel to thousands of VC-backed startups, we are often asked the same questions about what startups need to do after raising their first round of VC financing. Here is a quick and dirty list of those next steps. The action items below are described in…

You’ve Got VC Money: Board Meetings

Board meetings are your opportunity to check in with and give an update to your bosses and get feedback and guidance from the experienced members of your board. It is common for VC-backed startups to have four to six board meetings per year, though this frequency can…

You’ve Got VC Money: Board vs Stockholder Approval

While your financing agreements might have other requirements, below is a nonexhaustive list of the types of corporate decisions that typically require board and/or stockholder approval: Board Approval Is Required to: Stockholder Approval Is Required to: Amend the charter or bylaws. Approve significant corporate transactions (e.g., sale…