CASE STUDY
A BUSINESS PLAN HELPED


Situation

    A rapidly growing service company needed capital to
    grow. They had a new software/business process
    management program that needed completion.

Problem

    The CEO wasn’t convinced that he needed a business
    plan in order to receive additional capital. He thought he
    could sell anything – without a plan.

Solution

    The company solved part of the problem itself. They self-
    funded the code development using internal cash flow.
    Since the greatest strength of the CEO was selling, they
    focused on landing a national contract with a significant
    sales.

    With significant sales came a problem, cash flow. In order
    to roll out the now complete software/service product they
    needed significant venture capital. Luckily, the CEO heard
    the message. He finished his business plan, approached
    investors, and in relatively short order (it took about eight
    months, total), funded expansion with venture capital.

Benefit

    Without the business plan, the company would never have
    received funding. It was a pleasure to watch the CEO
    present to his plan to investors. He still was a great
    salesperson.
JACK MIXNER
STRATEGY