10 Key Points

Ten key points to remember when writing your business plan:

  1. Be honest. Do not be overly optimistic or try to hide limitations or weaknesses.
  2. Write in easy to understand terms. Avoid jargon and terms that are unfamiliar to people outside of your industry.
  3. Represent your company’s image, and convince the reader you understand all aspects of the business.
  4. Provide the lender with an understanding of your business and how you will use the loan.
  5. Evaluate the company’s management team. This is a major focus of the plan.
  6. Answer the three strategic planning questions:
         Where are we now? 
         Where do we want to be?
         How do we get there?
  7. Quantify your market, sales, production, and cost data. Do not generalize. Be specific. Use data to help tell the story.
  8. Begin each major section on a new page with the appropriate title; for example, Marketing Plan.
  9. The actual content of the business plan will vary depending on the nature and complexity of the business, the stage of development and the type of financing needed.
  10. The business plan may be used as a sales document. The content and quality of the plan should be representative of your company.