Lyonette Hawa August 2, 2021 Business Plan
The business plan is a necessary but not sufficient condition for finding outside investors. The plan describes the business and what it might become, and that`s all. A beautifully written, edited, and formatted business plan will not make a less investible business more investible.
The more you test and review elements of your plan, the better your plan and business will be. This can save you from spending days developing a strategy that just isn`t feasible.
Write your plan using language that your audience will understand. Accommodate your investors, and keep explanations of your product simple and direct, using terms that everyone can understand. You can always use the appendix of your plan to provide the full specs if needed.
It`s trendy to say investors don`t read business plans, but what actually happens is they only read business plans of the businesses they are interested in. They reject businesses from intro and pitch, without reading the business plan.