Writing a business plan doesn`t have to be complicated. In this comprehensive guide, I`ll show you how to quickly and easily write a business plan that will get the results you want. Don`t worry, you don`t have to have a business or accounting degree to put together a great business plan. This guide will show you how to get your plan done step-by-step without any of the complexity or frustration.
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.
If you say your management team is experienced and qualified to help the business succeed, you have to support that claim with resumes that demonstrate that experience. It`s easy to lose credibility – and investors – if you`re making claims you can`t fully support.
Later, as the investment process proceeds (if it does), the latest regularly-revised plan will serve as a companion piece to the pitch and a key document for due diligence.
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.
Defining the problem you are solving for your customers is by far the most critical element of your business plan and crucial for your business success. If you can`t pinpoint a problem that your potential customers have, then you might not have a viable business concept.