From the makers of Business Plan Pro comes the easiest way to Pitch, Plan and Track your business’ success. While you might be able to succeed without one, being armed with information on how to write good business plans will give you a considerable leg up in starting a business , keeping it operational, managing your money, and cultivating business growth.
It’s easy to forget that business is first and foremost people oriented and that many private investors will consider the who before they consider the what – understandably so, given that poor human relations can cast a bad light upon the very best entrepreneurial idea.
If you’re applying for a loan or looking for investors, a business plan shows you’re prepared and have fully vetted your business idea, says Craig Allen, a financial advisor who teaches business plan writing classes at Southern New Hampshire University.
Given that such matters will inevitably provide the starting point for any investor negotiations, your projections should also detail the absolute minimum of new cash that will be required over the next twelve months in order for the business to survive.
Your plan should be set out neatly in a folder with a cover that outlines what the report is about and who contributed to it. It is likely that many different parties will read your plan so you may consider attaching a cover letter to each one that addresses the reader specifically, highlighting the concerns that they will have.