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It also needs to be written in formal format and style. You have to remember that a business plan is something that you may have to present to your business partners, financial firms and banks. So if you can, refrain from using slang in any part of your plan.

The market potential for your service or product-You need to convince your customers and employees for your products and services you are offering and hence you have to find out the market which needs that product or service.

Finally, a business plan should be error - free. This is important because your business plan defines who you are as a business person. If it turned out sloppy, then that does not speak too highly of you.

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.

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