If design and development are big aspects of your business, include a budget. Your costs should include things like labor, materials, and consulting fees. Don’t make the mistake of under-estimating your development costs, because this may hurt your cash flow projections. It’s a good idea as well to incorporate a 15 to 30 percent cost contingency factor into your projections.
Don’t make the mistake of comparing the technology you are working with now and will have on the market in a year or two with what the competition has now. Instead, compare your product to what the competition will have at the same time as you are in the market.
Stop yourself from using detailed technical terminology. Investors, like us, don’t like to work too hard in reading a document.
It may be more compelling for you to present your technical team rather than the research they are doing.
A young man, to achieve, must first get out of his mind any notion either of the ease or rapidity of success…Nothing ever just happens in this world: Everything is brought about. Success never comes to a man of its own volition: It will meet a man halfway, but it will never come to him all the way. Edward W. Bok.