Different From the Rest: Making the Business Plan Stand OutAlex, July 10, 2015, 11:47 am
Thousands of business plans are written every day. The challenge is making yours better than the ones written by entrepreneurs who will be direct competitors in the marketplace or will be trying to land the same funding from angel investors or venture capitalists.
The business plan needs to stand out and get attention. There are simple ways to make it happen.
Don’t Confuse Readers with Language
You may know what a “thingamajig” is all about, but can the business plan reader figure it out based on the content?
You may have a clear vision of what the startup will look like, but can the business plan reader understand it as well?
Business plans should be written in plain language that:
- Is not confusing
- Does not use a lot of jargon
- Explains technical details in an understandable manner
- Anyone in any industry can understand
- Does not make an obvious attempt to impress
- Avoids generalities like “best in the world”
Showcase Personal Values
It is important that the reader be able to grasp the entrepreneur’s values and qualities. Banks and private investors are taking a risk by investing in the business. The business plan must demonstrate your:
- Commitment to the business
- Goal orientation
- Good judgment
Don’t Pitch the Business
Pitching the business in the business plan turns the document into an advertising campaign. That is not the purpose of the business plan. The purpose is to explain what the business is all about and how it plans on being successful.
Adhere to Conventions but Add Creativity
There is a time and place for two-page business plans that are popular with the up-and-coming entrepreneurs. The reality is that it takes a full and traditional business plan to get a bank loan approval, apply for crowdfunding, or convince angel investors or venture capitalists to risk funding.
Just as importantly, the business owner should not take shortcuts during the business planning stage. The document includes goal setting, strategizing, financial planning, and operations planning.
Just because the business plan is formal does not mean it is boring. Add personal creativity to the business plan by adding easily understood charts and graphs, and producing a high-quality document. This not only makes the document stand out; you will feel even better about your business.
The business plan is too important to leave anything to chance! If in any doubt about the process for writing a business plan, get help. Business plan developers with real world business experience can provide entrepreneurs invaluable assistance by sharing their knowledge. It could mean the difference between seeing or not seeing your business get up and running.
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