But in real life, the plan related to seeking investment is a subset, a special case. Most real business plans are about managing a business and need a lot less description and research than the business plan related to seeking investment. In most cases, a lean business plan fits the business purpose best.
Writing a business plan may seem like a big hurdle, but it doesn`t have to be. You know your business—you`re the expert on it. For that reason alone, writing a business plan and then leveraging your plan for growth won`t be nearly as challenging as you think.
At the top of the page, right under your business name, include a one-sentence overview of your business that sums up the essence of what you are doing. This can be a tagline but is often more effective if the sentence describes what your company actually does. This is also known as your value proposition.
Working through your business plan, and starting with a one-page pitch, can help you test the viability of your business idea long before launching. As you work through everything from your branding and mission statement, to your opportunity and execution, the best thing you can do is get feedback and test different elements of your business.
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.
Whether you are in the beginning stages of starting your own business or planning on taking it to the next level, you will need a clear and informative business plan. `What is a business plan?` you may ask. In short, it is a comprehensive guide wherein answers to the questions and problems you will face in each stage of growth are laid out in detail.