Everyone knows a person who just has a knack for being able to find something wrong with any new idea or concept. When writing your business plan keep that person in mind.
You will want your business plan to be as brief as possible, and bullet proof. Whether its your money, your lender’s money or any investor, you will want to make sure your business plan is rock solid, and you need to be able communicate it in as few words as possible. Make sure the words you use are clear and precise and avoids industry jargon. Remember, your business plan is a detailed plan – not a sales pitch. Your business plan should take into account specific problems your business offering will solve, and demonstrate that you are not being too broad. Does your plan clearly define your target audience? Do you clearly know who your target customer base is, and how you are going to solve a problem for them that your competition today does not?
Your business plan needs to convey that you covered your bases with the research of the factors impacting your business, and recognizes where problems might occur. Credibility is established through presenting your plan in a manner where each of the components of your plan work together in a logical way. If the assumptions in your plan do not make complete sense to you or those advising you, then your assumptions most likely need to be reviewed and adjusted.
A coherent plan works together to achieve an outcome. You should be able to communicate your plan in as few words as possible. Does your 30 second elevator pitch clearly convey the problem you will solve for your target customer, how you are going to solve it, make money doing it and with as little risk to the investor as possible? If your 30 second elevator pitch grabs the investor’s attention, then you need to be ready to answer factually with quantifiable data and information any question the investor may ask.
Remember, in the landscape industry, your small business probably isn’t looking to round up millions of dollars of funding and have to answer to Ivy league MBAs. But nothing is more important to you then a successful outcome of your business. Putting the time into your business plan so it is logical, factual and the plan works in coordinated steps, can help you succeed in your new or on-going business.
- Make Your Business Plan Stand Out – Entrepreneur Magazine
- How to Make Your Business Plan Stand Out – Small Business Administration
- 4 Ways to Make Your Business Plan Stand Out to Investors – Small Biz Club
- The Right Way to Present Your Business Case – Harvard Business Review