| PRIVIA BUSINESS CONSULTANTS |
| GUIDING YOU THROUGH ALL OF BUSINESSES' TOUGH DECISIONS ™ |
FREQUENTLY ASKED QUESTIONS
Question: “I have an idea for a terrific product. Do I need a business plan?”
Answer: Absolutely. In the current market for capital, a clear, focused business plan is crucial. Investors will not spend a minute
looking at a project until they see if it meets their specific criteria. A well-written business plan will do this.
Question: “How can I gauge potential market interest in my product?”
Answer: There is no single magic formula. However, a good guide is the Rule of 4.
1. Does your product have a first to market advantage?
2. Is there a strong management in place?
3. What proprietary feature, or benefit, does your product offer?
4. Do the financials portray an exciting Return on Investment?
Question: “What criteria do you use to rate clients, projects and chances for success?”
Answer: No two projects are the same. We are select in choosing clients. Turning down a client is preferable to accepting a project
that has no chance for commercial success. Our income and reputation is enhanced by a successful product placement.
Question: “Can you assist in selling my product?”
Answer: A number of our clients have international sales being generated through distribution agreements we have organized.
Additionally, clients have international sales being generated through distribution agreements we have organized.
Question: “Why pay for a business plan, they are all over the Internet for $50?”
Answer: Simple answer, we have never seen a project funded off an inter-net business plan template. Bankers see hundreds of
plans per year. If the plan is not exciting, creative, focused, it will not be read. Opening a business plan we can tell immediately if
it is thoughtfully, professionally written, or a fill in the blank template. How a plan is constructed and written speaks volumes about
an entrepreneur’s commitment.
Question: “What is the most common error you see entrepreneur’s make?”
Answer: Pursuing capital too soon. The typical entrepreneur is fixated on funding and has minimized the importance of proper
market research. Unless there is a rich uncle in the picture, the start-up will need help from outside sources of capital. This
investment will only happen if the proper planning, strategy, projections and financials are in place. There are simply no shortcuts.
Many great products never succeed, while often inferior products enjoy great success. A solid marketing plan is crucial.
Question: “Do you have funding sources for my project or company expansion?”
Answer: We are selective, and careful, in analyzing the commercial potential of every client we work with. We only work with
projects in which we have confidence of commercial success. Those projects will be presented to a network of sources, investment
bankers, blind investment pools, angel and mezzanine firms and individuals with interest in the specific product or service being
offered. The project will be professionally presented to serious groups and given the maximum opportunity to be success.
Question: “Other than investment funding, what are my best options to expand?”
Answer: Many. In fact, most start-up or small growth companies instinctively seek funding as the best method for advancing their
business without considering all options. Franchising, strategic alliance, joint ventures, international distributors, partnering, royalty,
licensing are some of the options available for launching or expanding a business.
Question: “I have an idea for a terrific product. Do I need a business plan?”
Answer: Absolutely. In the current market for capital, a clear, focused business plan is crucial. Investors will not spend a minute
looking at a project until they see if it meets their specific criteria. A well-written business plan will do this.
Question: “How can I gauge potential market interest in my product?”
Answer: There is no single magic formula. However, a good guide is the Rule of 4.
1. Does your product have a first to market advantage?
2. Is there a strong management in place?
3. What proprietary feature, or benefit, does your product offer?
4. Do the financials portray an exciting Return on Investment?
Question: “What criteria do you use to rate clients, projects and chances for success?”
Answer: No two projects are the same. We are select in choosing clients. Turning down a client is preferable to accepting a project
that has no chance for commercial success. Our income and reputation is enhanced by a successful product placement.
Question: “Can you assist in selling my product?”
Answer: A number of our clients have international sales being generated through distribution agreements we have organized.
Additionally, clients have international sales being generated through distribution agreements we have organized.
Question: “Why pay for a business plan, they are all over the Internet for $50?”
Answer: Simple answer, we have never seen a project funded off an inter-net business plan template. Bankers see hundreds of
plans per year. If the plan is not exciting, creative, focused, it will not be read. Opening a business plan we can tell immediately if
it is thoughtfully, professionally written, or a fill in the blank template. How a plan is constructed and written speaks volumes about
an entrepreneur’s commitment.
Question: “What is the most common error you see entrepreneur’s make?”
Answer: Pursuing capital too soon. The typical entrepreneur is fixated on funding and has minimized the importance of proper
market research. Unless there is a rich uncle in the picture, the start-up will need help from outside sources of capital. This
investment will only happen if the proper planning, strategy, projections and financials are in place. There are simply no shortcuts.
Many great products never succeed, while often inferior products enjoy great success. A solid marketing plan is crucial.
Question: “Do you have funding sources for my project or company expansion?”
Answer: We are selective, and careful, in analyzing the commercial potential of every client we work with. We only work with
projects in which we have confidence of commercial success. Those projects will be presented to a network of sources, investment
bankers, blind investment pools, angel and mezzanine firms and individuals with interest in the specific product or service being
offered. The project will be professionally presented to serious groups and given the maximum opportunity to be success.
Question: “Other than investment funding, what are my best options to expand?”
Answer: Many. In fact, most start-up or small growth companies instinctively seek funding as the best method for advancing their
business without considering all options. Franchising, strategic alliance, joint ventures, international distributors, partnering, royalty,
licensing are some of the options available for launching or expanding a business.
| PRIVIA BUSINESS CONSULTANTS |