10 Key Points
Ten key points to remember when writing your business plan:
- Be honest. Do not be overly optimistic or try to hide limitations or weaknesses.
- Write in easy to understand terms. Avoid jargon and terms that are unfamiliar to people outside of your industry.
- Represent your company’s image, and convince the reader you understand all aspects of the business.
- Provide the lender with an understanding of your business and how you will use the loan.
- Evaluate the company’s management team. This is a major focus of the plan.
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Answer the three strategic planning questions:
Where are we now?
Where do we want to be?
How do we get there?
- Quantify your market, sales, production, and cost data. Do not generalize. Be specific. Use data to help tell the story.
- Begin each major section on a new page with the appropriate title; for example, Marketing Plan.
- 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.
- The business plan may be used as a sales document. The content and quality of the plan should be representative of your company.