How to Write a Business Plan That Stands Out
To get investors on board your project, you need to come up with a business plan that instantly gets their attention. Investors see dozens of business plans on a weekly basis, so yours can quickly get lost among others if you don’t present it the right way. It’s crucial that your plan includes interesting ideas and practical strategies that are both presented in a clear, easy-to-understand format. Think of your plan as a road map to the final destination, which is securing funds and opening a successful business. You need to show how you plan to get to that point, what obstacles you might face and how you plan to overcome them without getting off-track.
Before you even sit down to work on your business plan, you should already have a clear concept and a unique point of view. Remember that investors look for promising entrepreneurs that might need some professional guidance to live up to their highest potential, but they want people who are ready to take the next step as soon as possible. They simply don’t have the time to mature and grow your ideas into a viable business plan. You have to do that on your own before walking into your presentation if you want to convince business-savvy professionals that you are ready to turn their investments into big profits.
Your next step should be to organize your ideas in a clear and concise way that highlights what you are trying to achieve and how you plan to do it without overwhelming the reader. One of the biggest mistakes entrepreneurs make is trying to squeeze too much information into their business plans, which is enough to get them automatically disqualified for funding. Details are important but including too many in your business plan will make it look unfocused and confusing. Investors should be able to skim through it and still get a clear understanding of what you and your business are all about. If you are the type of person who worries about forgetting important points, write your business plan out without worrying about its length and edit it down later.
Divide your business plan into separate standalone section that work well together. Each section should go over a specific topic that complements but will not be covered in the rest of the document. Structure your plan in a way that makes sense. For example, it should begin with an executive summary that sets the tone for your presentation and end with a realistic financial plan. If you’ve never written a business plan before, it’s a good idea to use a professional business plan template as an outline to make sure that you organize your document in the right way and don’t leave out any important information.
Keep in mind that you don’t need to stick to a standard plan if it’s not ideal for your business model. As long as you use a traditional format as a foundation, you can revise your business plan in a way that best highlights your goals, ideas and needs.