Business plans are needed for every business or aspiring investor, and new businesses are created every day, writers demand, business plans and business planning services always follow. In order for a company to have an opportunity for success, it must focus on clear direction. Here are three simple tips on what to do to become a reputed and successful writer of business plans.
1. Do not over complicate things – Avoid filling business plans with complex jargon and long sentences because only confusing the reader with the task of reading the plan seems like a very long and tedious time. Try to keep the information short and sweet, which can be done by using subtitles and bullet points that will make all the information readable. The client will be more likely to navigate the plan if he has a structure this way.
Try to avoid using acronyms and technical terms, and if you want to use them, be sure to fully explain in a universal way that the reader can understand.
2. Knowing who your reader is – knowing who the recipient is, will allow you to “reconcile” the business plan at the right level. Banks often require the emphasis on finances with a review and description of the business. Venture capitalists and other advanced investors (eg, Angels) may need in-depth research and analysis on market potential.
If the plan is presented to more than one group, consider whether the plan needs to be changed to meet the needs of each group. Also consider how the plan should be presented and in what ways. If you are unsure about preparing for a paper plan as well as electronic.
3. Share a clear methodological structure – when you know who the reader will be, and the foreseeable needs of the plan, then the appropriate structure can be considered. Typically, the structure should be transparent, methodical and cover all areas sufficiently to allow adequate communication of the appropriate message.
Emphasis must always be on achievement and strength; however, weaknesses in the business model should be highlighted. This often increases the integrity of the plan. As a general rule, make sure the plan contains an index, a summary, and an extensive financial section. The summary should be brief but impressive and encourage the reader to keep encouraging. The financial part should not be just numbers, which should be the history of assumptions, risks and funding requirements.
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