Presenting the plan: pitching the idea
The venture plan is 'the sales document for the business'. As well as the venture team requiring a plan, it is needed to convince potential investors, partners, supporters and clients that the venture is credible and able to meet their requirements. This involves strategies and skills of presentation, communication and influencing.
The venture plan is a slim-line, easily revised document which communicates all the necessary information about the venture, as outlined in this chapter. It could also be termed a 'business proposal'. A useful analogy is that the venture plan or business proposal is rather like the 'trailer' for a film at the cinema - it is designed to excite atten¬tion and provide as much information as necessary to stimulate the target viewer to want more. For those who do want more, then the full business plan becomes the 'main picture'. Table 6.5 shows the characteristics of an effective venture plan.
The venture plan may be all that is needed for an opportunity where the client does not require more information. However some organisations, including some in the public sector, corporate and institutional sectors, equate the thickness and weight of a business plan with its value and ability to minimise risk. If one of these organisations requires a more detailed plan and you require their support, then it is important to obtain specific information from them about their detailed requirements so that you can follow this.
In presenting the plan or 'pitching' to potential investors, partners or customers, prepa¬ration and planning are the key. You need to 'know your audience', having researched