It’s time for an in-depth series about the business plan format and what you have to be thinking about when you launch your business. A business plan writer can help you coalesce your thoughts and dreams into concrete information and facts which you can present to a lender or investor with confidence.
What Your Business Plan Format Should Be:
Your business plan format should embody the following concepts:
- The Story: Your business plan should explain who you are, what you offer in the way of products or services when you can make a profit, where you are located, how you plan to attract and satisfy customers, and why you think your business is likely to succeed long term.
- The Presentation: A good business plan isn’t about style, number of pages font selection, or cover design, although all of these are important points when it comes to looking professional. Your plan should be above all, focused, clear, and easy to understand.
- The Goals: Your business plan should define specific business objectives and goals, including a timeline for meeting those goals, and include general parameters to guide your organization from the conception of your business through the planning stages to execution and success.
What Your Business Plan Format Should NOT Be:
Your business plan format should never be reduced to the following:
- The Hodgepodge: A disconnected bundle of thoughts and ideas held together with bullet points is not a business plan. If you haven’t addressed the who, what, when, where, how, and why, you can forget about attracting investors or convincing a lender to back you.
- The Hype: A fitness routine demonstration or an elaborate puff of smoke may work on ‘Shark Tank’, but a serious banker or entrepreneur backer will want facts backed up by figures and statistics, not a bunch of fake guarantees and hyped-up promises.
- The Hopeful: A wistful approach begging for money isn’t the way to go. You need to layout a logical plan that convinces lenders that your company is certain to succeed based on a methodical progression of events.
Our next post will deal with the Executive Summary of your business plan and why it should be the first and last thing on your mind, as well as how a business plan writer can help!