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Incorporating Investor Feedback into Your Business Plan
By Dave Lavinsky

Investors, like the rest of us, have different tastes. One investor may love a concept and/or business plan while the next may hate both. It is important to understand this as business plans are working documents and are always undergoing iterations.

Management teams must not rush to incorporate each potential investor's comments. Instead, have several investors, partners and other business colleagues review the plan and provide feedback. Then incorporate common concerns and probe other comments to determine if they are valid.

Always try to understand the rationale behind an investor's comments. For instance, an investor may poke holes in a business plan if it doe...
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