BUSINESS NEWS - Writing a business plan can be daunting, but it doesn’t have to be.
Here are a few guidelines for writing a business plan that can be a useful tool to help you refine your business strategy quickly and easily.
Get your idea across quickly and clearly
Potential investors don’t have a lot of time so get the idea of your business across quickly and clearly.
Potential investors don’t have a lot of time so get the idea of your business across quickly and clearly.
It’s also a very good exercise to cut down your business plan to the absolute minimum – it forces you to trim unnecessary words and to communicate your idea clearly.
Think carefully about the content of your business plan
Think carefully about what you are trying to communicate. Presentation is important, but what you are saying and how you are saying it is really is crucial.
Investors will use this document to get an understanding of your communication skills as well as your ability to think critically about your business. You should spend more time on this part of your plan than on any other section.
Think carefully about what you are trying to communicate. Presentation is important, but what you are saying and how you are saying it is really is crucial.
Investors will use this document to get an understanding of your communication skills as well as your ability to think critically about your business. You should spend more time on this part of your plan than on any other section.
Your business plan should contain:
- A description of the problem your customers have
- Your solution (your product or service)
- Business model (how you make money)
- Target market (who is your customer and how many of them are there)
- Competitive advantage
- Management team
- Financial summary
- Funding required
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