Starting up a business is an exciting time, but writing a business plan can seem daunting initially. However, being able to write a good business plan is an essential skill to have for any entrepreneur or new business looking to increase their chance of survival.
Business Overview- This section will cover the objectives, mission and vision of the business. The goals of the business should be properly outlined in this section.
Attention to detail. A plan that is concise and clear reads professionally so don't make yours too wordy. The reader needs enough detail and information to be able to make an informed decision. As with all professional documents, care must be taken to avoid spelling mistakes and use correct grammar and punctuation. A plan that makes absurd or unrealistic assumptions is of no use so stick to the facts and make sure you are making credible projections and accurate content at all times.
An exit strategy- A business plan becomes perfect only when you write a good exit strategy for the investor. It is important to note that investors generally have a 3 year horizon within which they want to exit. The author is the partner at IntelligentQ. IntelligentQ specializes in Integrated Marketing Communications: Business Content, Sports Content, Business Plans.