Present Business Plan
At the same time, before you begin shopping your business plan around to investors or bankers, it’s imperative to get a second pair of eyes on it after you’ve put the final period on your first draft.After you run your spell check, have someone with strong “English teacher skills” run a fine-tooth comb over your plan for any spelling, punctuation, and grammatical errors you may have glossed over.Here’s some easy formatting tips to help you do just that.
Your business plan is made up of several key sections, like chapters in a book.Sometimes it’s better to show instead of just tell.Assume that your readers are going to skim your plan rather than read it word-for-word and treat it as an opportunity to grab their attention with color graphics, tables, and charts (especially with financial forecasts), as well as product images, if applicable.You might be a prodigy in quantum mechanics, but if you show up to your interview rocking cargo shorts and lime green Crocs, you can probably guess what the hiring manager is going to notice first.In the same way, you present your business plan to your readers equally as important as what you present to them.Before you set fingers to the keyboard, we’re going to walk you through the most important things to keep in mind to help you tackle the writing process confidently — with plenty of real life business plan examples along the way! There’s no version of you presenting an 80-page business plan to an investor and they enthusiastically dive in and take hours out of their day to pore over the thing front to back.There’s this oldschool idea that business plans need to be ultra-dense, complex documents the size of a doorstop because that’s how you convey how serious you are about your company. Complexity and length for complexity and length’s sake is almost never a good idea, especially when it comes to writing a business plan. If your chief goal is using your business plan to secure investment capital, then it means you intend on getting it in front of an investor. Instead, they’re looking for you to get your point across as quickly and clearly as possible so they can skim your plan and get to the most salient parts to determine whether or not they think your opportunity is worth pursuing (or at the very least initiating further discussions).A good business plan is always evolving, and every last detail is rarely ever set in stone.This means that the first version of your plan probably won’t (and shouldn’t be) your last.As your business progresses and your ideas about it shift, it’s important revisit your business plan from time to time to make sure it reflects those changes, keeping everything as accurate and up-to-date as possible.This rule especially holds true when you go about your market research and learn something that goes against your initial assumptions.