Here is an in-depth roadmap on writing perfect business plan which would guide you in persuading potential investors to pump money in your business and be your mentor.
Perfect Business Plan Vs Perfect Business Idea
It is a common observance that a lot of business plans fail miserably and end up in trash. Experts have dug up such papers and found that it was the business idea that has failed and not the plan. The plans were diligently written and were on target with perfect wording and loaded with information.
Thus, the thumb rule is to set the business idea right. Even if it is a common business idea, it is wise to give it an innovative and unique touch so that it impresses the potential investors or clients straightaway.
Churn Your Grey Matter – Burn the Midnight Oil
Just like the theory of gravitation and buoyancy, great ideas come to mind when it is in a thinking state. Thus, give room to your mind to think and give it an impetus to come up with new ideas. Open a new word document, just observe it, don’t write anything, just focus your mind on your business idea and let the mind get filled with thoughts.
Don’t write anything at this point and let the mind overflow with ideas and compel you to write. Right at that moment start writing.
Small, Simple Is Beautiful & Welcome
Always remember, people fear to read as nobody has time for too many words. We are living in a digital world and time is precious and is the modern-day money. In order to make business plan simple and short, write the first draft, redraft it and delete unnecessary details, words, etc. Reread it and make it so precise and to the point that it become short. Remember, in the process of making it terse do not make it difficult. Keep it simple.
Follow the Format Religiously
Experts, investors, clients & analysts look for a format while going through business plan. It is very important to adhere to the format related to heading, sub-heading, margin, font type, visuals and overall stylesheet.
Replace Words with Pictures
Let pictures take precedence but don’t forget it’s a business plan and it has to be more or of a writing stuff than being overly picturesque. Thus, insert an image, chart etc. where it is necessary and do not over do it. Ultimately, the business plan would be read, assessed and reassessed by investors or interested parties and thus they would consider words more than pictures, images etc.
However, many a times, whatever you say during the business plan presentation matter a lot and everything else is just paperwork.
Section Wise Breakup
Divide the entire document in parts such as executive summary, company synopsis, market overview, etc. and write about each part diligently. It is worth reminding here that the document is the one that would be the most important key in getting investment for your business. Thus, make it so precise and just so that it fulfils its purpose.
Parts And Whole – Do Not Leave Anything Out Of Place
It is important to check that the parts do become part of the whole and do not remain just parts. The parts should make the document a whole contribute to its success.
The financial, funding, traction, management team, consumer acquisition etc. sub-parts of the plan should integrate and so aligned and matched so that these add to the beauty of the whole document. Nothing should look out of place.
Weigh Your Words
The best business plans in the industry have been those which are backed by great business ideas and are composed awesomely. Writing business document of this sort is an art and there are experts available who can be of help to you in designing and writing.
Its Your Business Plan
Its your baby, take care of it. Invest time and nurture it best so that your initial investment bears fruits. Design it in such as way that the most important points take precedence and possible investors do not have to wiggle for things they look for in the document.
These include, revenue model, Cost Maturation & Milestones, investment costs etc. These are the points which are the most important ones for the investors as these affect their investments a lot and give them an insight whether investing in your business would be feasible for them or not.
On the other hand, while writing the plan, you also get a clear picture about your business model and also learn a lot of things that you should check and prepare answers for them before presenting the plan before the interested parties.
Presentation Is Also Key
It is a fact that the business model plan may have been poorly formatted but if it is presented well, it can derive required results. So, it is up to you to present it in the most fascinating and apt way that impresses investors.