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How do I put my Business idea to paper and make it interesting for investors?

I've got this great business idea on starting an eCommerce website in Nigeria. I've even conducted surveys, done research on the current eCommerce market in Nigeria, designed the platform. The problem is I find it difficult to come up with a business plan or model for the business.

Is there anyway I can learn how to write a business plan or model? I would really want to attract investors.

18 Replies

Burke Franklin
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Burke Franklin Advisor
Business Planning Expert, Accomplished Entrepreneur, International Keynote Speaker, Best-Selling Author, Coach to CEO's!
Hi Kenneth,
I recommend BizPlanBuilder to write a business plan:
http://www.jian.com/project/bizplanbuilder-business-plan-software-template/
Mustafa Faisal Ahmed
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CEO of Ascend E-Ventures, Digital Transformation, E-Commerce Lecturer @ KFUPM, Startup Mentor & Board member
Great to see that you are looking into E-Commerce in Nigeria. Big things are happening in that space in Nigeria.

The Business Model Canvas is another fantastic tool you can use to start getting your idea onto paper.

I would highly recommend Steve Blank's Lean Canvas. I have taught this class and I have seen students create very good businesses.

Check out the FREE course on Udacity.com

https://www.udacity.com/course/how-to-build-a-startup--ep245

Best of luck!
Gray Holland
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Gray Holland Entrepreneur • Advisor
founder / director at UX-FLO
http://leanstack.com/lean-canvas/

This is a great way to outline your business plan and goal on one page.
There are several discussions around business plans and whether startups need them (you should check them out). The point is you need a business hypothesis that you are going to test, and you need the thinking behind that, but a traditional business plan is not the right form for the agile needs of a startup. I highly recommend you stand with the Lean Canvus and go from there.
Rocky Richard Arnold
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Entrepreneur/Author: The Smart Entrepreneur & The 90-Minute Entrepreneur
I wrote a book for entrepreneurs such as yourself. Check it out at http://tinyurl.com/pv248qq. Developing a BP can be broken down into process steps making the effort seem not so overwhelming. Good luck.
Jackson Powell
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Jackson Powell Advisor
UI/UX Designer & Front End Developer
Kenneth, it sounds like you could benefit from some personalized guidance. Someone like Lonnie Sciambi, an advisor.

Apart from being tried and tested as an investor and entrepreneur like I'm sure the other suggestions are, the benefit of Lonnie is he's accessible to help you on-demand.

He's got a service where you can ask him your toughest question and he'll reply directly with a custom response. Give him a try, it costs you nothing.

http://www.thesmallbusinessforce.com/ask/
Andreas Ramos
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Andreas Ramos Entrepreneur • Advisor
VP Marketing at Zenyx Inc.
Kenneth: I wrote a template for a one-page business plan. It's used by many incubators and startups. Free copy athttp://andreas.com/faq-execsummary.html
Paul Lukaszewicz
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Paul Lukaszewicz Entrepreneur
Founder & CEO
If it is a simple e-commerce site to sell others' goods, then one method might be a listing fee as a percentage of the purchase price, or have a listing fee in of its self. E-bay could be a good working model and serve as a starting point. Personally, I would suggest getting your business model hammered out, then work on a full version of a business plan. Anyone that thinks that they can skip having a full plan is mistaken imho. Creating the full plan lets you peer into the future and see what challenges might arise. There are so many variables to consider that it serves as an idea refinement tool as well. A full plan also gives you a little more stick-with-it-ness through tougher times, you may avoid false "pivots" (if you follow lean methodologies).

With all that said, the best way to attract investors is action. Try running a preliminary test on a basic website. Have something to show them more than just your idea. As an entrepreneur who leads, your job is execution and driving tangible results.
Ian Homer
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Ian Homer Entrepreneur
Coach To Executives and Business Owners
Hi Kenneth,
Whatever template you choose to produce a plan I'd pay particular attention to one word: 'demand'. Today Kenneth, (thanks to huge investments in supply-chain-related technologies) supply now outstrips demand. There are too many suppliers of, well, everything! However, we can still win if we take particular note of the emotional, practical and economic demands of our target niche today and make our best guess at how those demands will change. Often we state our target customer as a demographic. That wont work any more. We have to think in terms of specific, pent-up demands that are going unmet with current offerings and how yours can satisfy them.
Best wishes Kenneth.
Kenneth Omirigbe
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Kenneth Omirigbe Entrepreneur
Social Media Manager for Dunamis World Class Youth Church
Wow!!! Thanks a lot everyone who advised.

I've got so many advises to start with.

Thanks once again
RAJENDRA HALEMANE
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RAJENDRA HALEMANE Entrepreneur
•22 years in Switch gears, Instruments Installation, Testing, Commissioning, Management, and Production.
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