How To Write A Business Plan For Getting Financing

It is important that you spend ample time to write a good business plan for your new business. The business plan throws light on what service or product your company is into and how to do you earn the money. It also should state what the business aims to do. Thus a business plan is basically a marketing method for your company that will let the reader know that your company is worth investing into. It is only when investors get excited about your company will they want to invest in it.

The three basic rules to writing a business plan

There are three key rules that should be followed when writing a business plan.

  • Keep the plan short and crisp – The business plan should not be lengthy and boring, it should be precise. You want that someone read a business plan and if it is 100 pages long then no one is ever going to read it. A business plan is something that will keep changing with time. It is a tool that will let you run your business and you will have to make changes to it. If your business plan is long and lengthy then you will face a lot of hassle to work on it.

  • Understand your audience – Your business plan should be in a language that your target audience will understand. Like if suppose you are into a business that is related to scientific equipment however your target investors are not from a scientific background. Herein case you have a business plan with lots of scientific jargons then the investors would not understand your product well and would eventually lose interest in the same. Make your investors understand your product in the simplest way that you can. If the investor can relate to what you are selling then they would be interested in the same.

  • Do not get frightened –Most of the investors will not be experts and they are just like you who have a degree in business. If you have a business and are passionate about it then writing a business plan and selling it should not be that challenging. Also, you do not need a business plan that is very detailed. You can just start simple.

How should your business plan look like?

The business plan should normally look like this.

  • The cover page

  • Table of contents

  • The background of your company and the summary of the opportunity

  • Address the opportunity in the market. It should include research and competition. It also should include the customers and the end users as well as the sale and marketing strategy

  • Services and products offered

  • The people behind the business

  • Finances

  • What is the source of funding is and how do you plan to proceed with it

  • Milestones

  • Appendixes