How to Write a Business Plan Tips You Need To Know When You Write a Business Plan
By Dee Power
Aug 18, 2007
A business plan is in essence a creative writing project. You want the business plan to be an interesting read, not a long boring discussion. You have to put on your marketing hat and make your company's future sound exciting. How to write a business plan is a challenge for any entrepreneur. Here are a few tips to keep in mind.
Write your plan in a style that fits your industry and your management team.
The plan for a sports bar company would sound much different than a plan for a bank. Make your plan sound like you; put some of your personality and philosophy in the plan, so after reading the plan an investor or lender would feel
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Then you get their business plan and it reads like the operations manual that came with your VCR. The purpose of the plan is to create excitement in the minds of the investors, in other words to activate the area of their brains devoted to greed.
Avoid getting mired in technical jargon.
Internet companies, medical companies and computer companies all tend to dwell on minute details about their technology and don't adequately develop the business reasons why they are going to make money for themselves and the investors.
A CD-ROM can't replace a mind.
More and more entrepreneurs are relying on business plan writing software. These products are sometimes helpful in formatting the plan and creating the financial schedules, but they can't formulate your strategies for you. The heart of the is explaining how you are going to sell more of your product or service than your competitors, and operate your business at high enough profit margins to generate a superior rate of return for investors.
The CD-ROM you might purchase has no idea how to do any of this. It's spent nearly all of its life on a shelf, in a box.
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