A group of angel investors has chosen you and several other entrepreneurial candidates to start and operate a virtual business.
A group of angel investors has chosen you and several other entrepreneurial candidates to start and operate a virtual business. The angel investors will own 40% of the business and will hold three out of five permanent seats on the board of directors of your virtual business.
One unique competitive advantage of your company is that it is a virtual business. The group of angel investors will provide $100,000 in funding to start your virtual business.
You must ask for the money of $100,000 from the angel investors. Give a compelling conclusion for your strategic business plan and explain why and how your virtual team will be successful.
Sample Solution
Dear Angel Investors, Thank you for your time and consideration. I am writing to you today to ask for your investment in our virtual business. As you know, our company is a virtual business, which means that our employees work remotely from all over the world. This gives us a number of advantages, including:- We can hire the best talent, regardless of location. This means that we can find the most talented people for our team, regardless of where they live.
- We can save on office space and other overhead costs. This allows us to pass on these savings to our customers, making our products and services more affordable.
Full Answer Section
- We are more flexible and adaptable. We can quickly adapt to changes in the market or the economy.
- Hire our team of remote employees.
- Develop our products and services.
- Market our products and services.