“Your financial future will largely be determined by one factor; the people you choose to connect with and the system you follow, if any, for success.”
~ Warren Buffett
Below are 3 tips to ensure your business plan is ready to penetrate the checkbooks of any funding source to which it’s presented.
1. Always remember that your business plan is a marketing document
You will use your plan to convince a lender or investor to write you a check not to tell a lengthy and/or boring story.
2. Write with confidence, but be careful of superlatives
Your business plan needs to give investors and lenders confidence that you will be successful.
However, at the same time avoid superlatives like “best,” “greatest,” “most powerful,” etc., unless you can back them up.
3. Answer the key questions, but not all the questions
The purpose of your business plan is not to answer every conceivable question that an investor or lender might pose.
Rather, you need to answer the key questions that will get them excited about your venture, and influence them to invest more time meeting with you to discuss investment possibilities.