Business plans are a necessity for any business start-up or investor.
With new start-ups being formed every day, the demand for business-plan writers and business-plan services will always continue.
For any business to have a chance of success it must focus on clearly defining its direction.
Below are three simple tips on what you will need to do to become a reputable and successful business-plan writer.
1. Don't overcomplicate things
- Avoid filling business plans with complex jargon and long sentences as it will only confuse the reader and make the task of reading the plan look like a very long and tedious one.
Try keeping information short and sweet, which can be done with the use of sub-titles and bullet points; making all information easy to read
- The client will find it a lot easier to navigate their way through the plan if it is structured. Look to avoid the use of acronyms and technical terms, but if you feel like you have to use them, ensure that you explain them fully in a way that all readers would understand.
2. Know your reader
- Knowing who the audience is will allow you to “pitch” the business plan at the right level. Banks will often require an emphasis on financials with an overview and description of the business.
- Venture capitalists and other sophisticated investors (such as angels) may require in-depth research and analysis into the market potential. Where the plan is being presented to more than one group, consider if the plan needs to be altered to cater for each group’s requirement.
- Also consider how the plan should be presented and in which media; If uncertain, prepare to produce the plan in both paper and electronic formats.
3. Provide a clear methodical structure
- Once you know who the reader will be and the likely requirements of the plan you can then consider a suitable structure. Typically the structure should be clear, methodical and cover any areas sufficiently to be able to successfully convey the right message.
- Emphasis should always be biased towards achievements and strengths; however any weaknesses within the business model should be highlighted. Often this adds a level of integrity to the plan.
- As a general rule, ensure that the plan has an index, executive summary and comprehensive financials section. The executive summary should be brief but impressive and entice the reader to continue.
- The financial section should not just be pages of numbers but be a narrative about the assumptions, the risks and the funding requirements.
