The investment decision is about the content – the team, the market, the differentiators, the scalability, traction so far, validators, growth potential – not the presentation or formatting of the plan.
This can be as simple as having a mentor or partner review elements of your plan, or conducting market research and speaking directly to your potential customer base.
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.
Investors and loan providers need to know that you have a solid understanding of the trajectory of your business. You need to prove that there is an attainable and sustainable need for your solution, that you have a strong business strategy, and that your business can be financially stable.
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.
A business plan is more than a document. It`s a guide that helps you outline and achieve your goals. It`s also a management tool that allows you to analyze results, make strategic decisions, and showcase how your business will operate, and grow. In short, if you`re thinking of starting a business or plan to pitch your business to investors, writing a business plan can improve your chances of success.