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→Business Feasibility Study
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#*Within the first paragraph of the cover letter, the reason for contacting the potential investor should be disclosed. In addition, a brief summary of the product or service that the business will offer should be provided. Details about how the business will serve the market competitively should also be included in this paragraph. | #*Within the first paragraph of the cover letter, the reason for contacting the potential investor should be disclosed. In addition, a brief summary of the product or service that the business will offer should be provided. Details about how the business will serve the market competitively should also be included in this paragraph. | ||
#*A summary of the target market and how it will be reached might be included in the second paragraph of a business plan cover letter. At the very least, the letter should provide some rationale for how the business will become profitable. Potential profitability can be communicated by highlighting several competitive advantages, unmet market needs, or market test data. | #*A summary of the target market and how it will be reached might be included in the second paragraph of a business plan cover letter. At the very least, the letter should provide some rationale for how the business will become profitable. Potential profitability can be communicated by highlighting several competitive advantages, unmet market needs, or market test data. | ||
#*The ultimate goal of a business plan cover letter is to convince an investor to provide funds for your business. Besides being informative, the letter needs to highlight the positive aspects of the business plan without going into too much detail. The cover letter should indicate that the complete business plan is attached for further review, and be enticing enough to persuade the potential investor to actually read the plan. | |||
#Describe your product or idea in detail. List your potential customers and explain their views about your product or idea. Explain how customers will use the product. | #Describe your product or idea in detail. List your potential customers and explain their views about your product or idea. Explain how customers will use the product. | ||
#Lay out the infrastructure. Indicate where you intend to house the business and if you intend to rent or buy. Describe the technology you will use. | #Lay out the infrastructure. Indicate where you intend to house the business and if you intend to rent or buy. Describe the technology you will use. | ||