regards

Alex

Étienne, you touch a very important point with your above statement. I think it’s definitely a great tool to help you build a solid foundation for your business. I personally wouldn’t go without it quite frankly. If I didn’t need to pitch to investors I would spend less time on the document, but would nevertheless do the same research and answer the same questions as we need to in a business plan.

I hear what you’re saying about Montreal VC. Not big risk takers, that’s for sure.

It seems like you’re in the process of starting up a business. Am I right?

Thanks for your feedback!

But the problem goes deeper than that. In the current Montreal business climate, investors require all business unknowns and risks to be tackled before even considering the investment opportunity, hence their focus on the business plan. Are you willing to caution the mandatory loans in the first round? No? Too bad. Have you identified all your key personel and your complete offering? No? Come back when you do. Do you have a solid market penetration strategy? Decent financial projections? Signed customer intention letters? Love money put aside? A registered corporation to accept the financing? Strategic distribution channel contacts? No? Well, don’t waste our time.

You’ll probably require the help of banks and government investment agencies in your first year; will they invest in your project without the bases being covered? Even if you could raise money with a half-baked plan, the valuation of your company would suffer greatly.

The BP is a selling tool. Realistically speaking, can you sell hundreds of thousands worth of first-round equity with the product/tech alone?