Not only essential if you want to raise funds, a business plan is also vital for the good running of a business. This week's blog will be highlighting all elements essential to a good business plan.
Be as clear and brief as possible and don’t overstate. It is important to keep to the truth.
Ensure you customise it to your audience; a business plan aimed at raising finances will be presented very differently from one drafted for in-house use.
The Executive Summary will briefly highlight the key elements of the entire Business Plan. It will have to be kept short – 1 page, 2 at the most. The aim is to interest the readers and entice them to read further. Although presented first on the document, it makes sense to write it last.
Its purpose is to describe the business, its objectives, products, and business strategy. It will also highlight the chore elements of the Financial Summary as well as putting forward the skills and experience you (& partners or employees) will bring to the business.