The question now is how to conduct the search for money? What procedure should the entrepreneur pursue?
Planning for Financing : The Investment Plan
Most venture capitalists agree that the business plan prepared by the entrepreneur is not always appropriate for the would-be investor. The intrinsic purpose for a business plan may be, in fact, as much a need to organize the entrepreneur, literally forcing him or her to assemble venture onto paper in an organized. “It may well be that the process of planning, which involves a carful analysis of the firm and is just as important as the plan itself.” In this process the plan takes on a more strategic nature with a focus on operations and the role of individuals in the venture.