Do you need investors? Buying a loan? Do you wish to apply for a grant? Or has the time just come to join in a self-analysis of your business? Are you increasing your business? Looking for new markets? Seeking the next level in your business https://eco-smart.biz/? These are all times that you need a business plan? What are the insane and bolds of a business plan?
All business plans have more or less the same sections some even have the same content.
However, when they arrive at the investor’s or lender’s table some remain where they are while others pass to the “I’ll read them later” pack or worse still the waste can! So how do you make your business plan legible and memorable those best reasons.
Let’s look at what in fact is at the heart of a business plan. A business plan is a methods that defines and integrates the actions that are required for a business idea to become a company and expectations that prove it will be profitable. In other words, it is the hook to get an investor and tell them that your idea is innovative and will be very profitable. Note those two important words: innovative and profitable. No investor will be interested in a company that is not going to be profitable enough to give them their investment back plus a very healthy profit. Now the what could be an interesting word – innovative. For a company to hit your objectives it must have something that is dissimilar to all of those other companies working in the same market. After all if your company is going to be the same as all the others, they are hardly going to move over and let you take their customers. No, your company needs to have something different that will attract these customers away from what they buy all the time. So innovative in some way, be it products, enterprize model or service.
Lets add another word that your need to prove within your business plan – viable. Your investor or lender wants to see that you company is going to be viable. If you do a Google search about the “Internet Bubble” of circa 1995 you will see that thousands of investors invested and lent to new fangled internet companies that assured to make them vast amounts in easy profits. Memories are long and now investors look to see that new companies are going to be viable for the for seeable future so that they continue to receive profits stream and have a good chance of getting their loan or investment back.
Your business plan should be a communication tool selling an original idea that serves to attract and get people that you have the ability to implement the plan by establishing and managing the company.
At the beginning we highlighted other reasons for business planning. In addition to raising funds, your business plan is also the best tool for you to assess the viability of your business.
So that is the INSANE of a business plan, lets look at the BOLTS that hold it together:
Professional: Internally it should be well structured with an index, page numbers, headings and bulleted paragraphs that explain complex matter. Plenty of graphics break up the boredom of too many words. Outside the body it should be expertly bound and have a colorful and attractive cover page. It stands to reason that full company details and contact information should also be on the front cover.
Tempting. Written in a way that encourages the reader to assess the likelihood of entering the business. Take care of the writing style, be brief but not brief and certainly not so wordy that tiredness beckons. Keep to the point, zwoding extraneous information that does not support your business planning or enterprize model. Avoid vocabulary and if you must use initials ensure that the first example is spelt out completely with the initials in brackets afterwards.
Dynamic. You ought to be creative, but with some constraint. It’s advisable if you tell a story but not one that is found in the fiction section of a library. If the business you propose does not invite big flourishes, save them. It can be counterproductive to distract the reader. Creativity is important as long as you highlight something about the business and is there to keep the attention of the reader. Creativity must only provide to paint a picture of how the business will operate in the future.
Accurate. Clarity is fundamental, but so is accuracy and truthfulness about the current state of your company and its future aims. A little bit of driver’s license is offered by the reader but they do expect you to be truthful about your figures, customer numbers and state of the production of your goods.
Ordered. Guide your reader through your business plan and put supporting documentation within the appendix of the report. Although the key information should be in the main sections of the report, in the appendices you can include second data, market study results, resumes of professionals and any letters from recommendation or favorable report.
The last big BOLT that will hold your business plan together is CARE. Your business plan is not just something you have to rush through in order to get your funding. It is the description of what your business looks like now and what you want it to look like in the future. Most business plans start at about 20 pages long for a small business setting out in the world to at the most 50 pages for a business seeking major funding. Whatever the size of your business plan, and please practice writing complex ideas succinctly, it should be written with care – after all a good business plan is a roadmap to company success!