Investors read through numerous business plans each week containing different ideas from different entrepreneurs. In order to stand out from the rest and impress a prospective investor you need to include the key points, details and strengths of your business.
To help you perfect your business plan, we have compiled a list of key points to consider when writing your plan.
- Less is More - Investors may read dozens of business plans each and every week so make sure yours is straight to the point and not full of marketing jargon or technical speak. Grab their attention quickly and keep hold of it!
- Attention to Detail - Investors reading your business plan WILL pick up on any spelling, financial or technical errors. Check, Check and Check again that the details are accurate before sending out.
- Don’t over play your hand – Nothing puts off an investor like reading for the 50th time that this business will be the next ‘Google’, ‘Apple’, ‘Facebook’, ‘Coca Cola’ or ‘Nike’ because the global market is worth billions and they ‘only’ need to capture 5% of it! Even if it is true they will have heard it so often before that the statement will lose all intended impact. Sell to them the real opportunity you have created for them and you.
- Hindsight isn’t Foresight nor Insight – Just because a certain market has grown steadily for the last 10 years doesn’t mean it will continue to grow for the next 10 nor does it mean you have an insight into that market opportunity. If this is stated as a strong rationale for seeking investment please remove it. Focus on your products benefits to that market irrespective of future bull or bear trends as that will really catch their attention.
- Emphasise the Strength of your Team – A balanced and diversified team will impress investors and demonstrate strength in depth. This is possible even for a small team and helps disarm any ‘key man’ concerns the investor may initially have.
At Bridge we provide guidance and assistance to individuals and companies working through the business plan process. Please contact us for further information.