“Why You, Why Now” - A Critical Component of a Winning Business Plan & Work Your Home Based Business Idea in Three Easy Steps

Business plans continue to be an essential element of the capital-raising process. They must convince investors to take notice - investors that are shrewder today due to the ups-and-downs they have experienced over the past few years. 
 
Adding to the financing challenge is the plethora of high-quality companies, both public and private, in which investors can choose to invest. In this environment, more and more investors are asking companies seeking capital the question "Why You, Why Now"? 
 
The question seems simple at first, but has many complexities. The management team must clearly delineate what it is about the business opportunity that makes it such a good investment now. Should this investment have been made a year ago to cement a market leadership position? Or, is the venture before its time - will slow market adoption cause slow sales over the next few years, and as such, should the investment wait. Questions like these, based on investment failures from the past few years, continue to surface and must be addressed by the management team in their business plans. 
 
Likewise the team must address what it is that makes them uniquely qualified to succeed. Does the team have proprietary (and protectable) technology, management talent and experience that competitors do not, long-term strategic partners? According to Growthink president, Dave Lavinsky, "Management teams must prove to investors why they are unique and why they will succeed. They can't just state how wonderful they are - they need to prove it through detailing past successes and unique qualifications." 
 
A business plan that fails to address the "Why You, Why Now" question, is most likely a business plan that will remain in the stack of "not now" business plans. Business plans must present a compelling argument as to why the investor should invest and in our fast-paced world with unbelievable opportunities and opportunity costs, why investors should invest now.

Work Your Home Based Business Idea in Three Easy Steps

Create a Business Plan first 
The primary necessity is to get a perfectly designed plan of action for a genuine business. A business plan on its own is useless. It is a mere reflection, but it will not suffice you also need an action plan. A business scheme is the first step in working out your idea into actions that you can follow. Well-illustrated business plans can be found online or at your library. 
 
Begin now 
 
• Do not be afraid of failure. Remember failure is the first stepping stone to success, if this home based business idea does not work out for you now do not let this deter you. Always remind yourself of the spider when you feel like losing hope. 
• Do not let that wonderful home-based business idea gather dust. Start today. 
• Waiting for the right time to start your business might make success elude you forever. If there is any specific right time, it is right now. Do not waste your precious time. 
• 
Put a figure on it 
This is the greatest stumbling block for most home-based business owners. That is, they fail to evaluate their work. If you do not give proper attention to this, you may have to wrap up your business. You need to know that real figures and numbers are needed for you to stay in business. If this is not your agenda of work, you are probably going all wrong. 
 
Large businesses usually set up balanced scorecards. The idea is to have a referring point to compare how successful your work is. For example, to get five customers in one month you could settle on free seminars but if you see that your plan is not getting you five clients, you need to reassess your plan. Change of plan prevents waste of energy and resources. 
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