How We Decide
Our process is really a simple one. First, we ask ourselves whether the investment opportunity and the business plan are attractive and plausible at face value - in other words, assuming we take everything the entrepreneur says for granted. Many plans do not meet this test, but if they do, we focus on assessing the claims, opportunities and risks that are presented by the team. Then, if we are able to get comfortable with the business plan and the team proposing to implement it, we decide to invest.
How Long It Takes
Generally it takes about four weeks of work to make a final investment decision.
How to Format a Business Plan
The What We Are Looking For section should give you a good sense of what we are looking for in a plan.
Each topic in that section also includes a list of related questions that should be addressed in a plan. We do not usually need to see a 100 page business plan. Our preference is for plans that are concise and ideally limited to two dozen presentation slides or less which cover the essentials: product, market, business model, team, competition, product roadmap, technology, business development, and financial status.