We've discussed the importance of your business plan summary, and how to attract angel investors. Now let's take a look at the meat of your business plan.
The Perfect Plan: Your Business Description and Vision
This section is vital as it allows you to explain not only what your business is about but your projections for future success. It should include:
- Mission statement. This is a quick overview of your business purpose.
- Company vision. This is a concise statement about projected company growth.
- Business goals and objectives. These should be laid out by your business pan writer in logical progression.
- Brief history of your business. Explain how the concept came into being, and how your business has grown if your loan proposal is for expansion.
- List of key company principals. Any business should have principles that not only follow good ethics but abide by good business practice.
Your description should encompass all of the above and leave the loan officer reviewing it with a full understanding of
- Who the business is, what it stands for, how it proposes to grow, and when it will turn a profit, as well as why you need the loan.
- A complete overview of the company’s conception, growth & future potential.
- Specific goals and objectives of the business, laid out in bulleted form
- Background information about the company, including personal history of any principals.
If all of the points are covered, your investor should have a comprehensive idea of exactly why you are the perfect investment, and you have a better chance of having your plan approved and securing a loan if your business plan writer takes note of all the above factors.