Tips in Writing a Good Business Plan

Before proceeding with the development of a business plan, determine who the business plan is for. Business plans may be perceived in number of ways including; internally to help with the strategic direction and planning of an organisation or used to attract the interests of external parties eg partners or venture capitalists. Essentially, all business plans have a similar structure and so certain techniques can still be applied accordingly.

A typical business plan raises issues and matters that involve the direction of the organisation and the resources used to achieve set goals. It would contain information that ultimately identify the size of the opportunity, whether it has the right team to exploit the opportunity, who the competition is, what the threats and risks are, and whether the organisation have the resources and expertise to successfully implement the business plan.

The job of the business plan is to address these questions convincingly and effectively.

1. Emphasis your Strengths

Highlight the capabilities and experience of the team when ever the opportunity arises in the plan. If the business focuses on a particular (niche) market, the plan would be more persuasive if there was member(s) of the team with a background in that industry.

Rather than including full resumes of team members, draw talent from each member that will show how each will contribute to the business in one form or another.

2. Be Clear, Keep it Simple and Precise

If you are able to communicate the business plan in a clear, simple and precise manner there will be no need to repeat the message later on. The traditional formality of business plans has a way of endorsing that long words eg jargon are suited for this purpose. However, the reality is that keeping words short and punchy tend to push across points more effectively.

Use brevity as much as possible to keep ideas clear and short. If more details are provided for a concept, have a paragraph that introduces that concept near the top and place the details down the document. This way any interests generated may entice him/her to scroll down the document.

3. Be Realistic.

Do not place too much hype into your business plan and setting goals that are not realistic. A business will take time, dedication and plenty of work to be successful. Setting unrealistic goals and adding hype will only place a heavy burden on the business - and a negative impression if the business plan can not be successfully implemented.

4. The Sales Pitch Drive.

The facts and ideas that are written in to the business should be easy to absorb and understood, making more of an impact towards the reader. Maintain a logical sequence of presenting benefits, strengths, and new opportunities so that it is well phrased. Even if the ideas behind the business already exist, the reader can understand how resources will be managed to exploit the business to its full potential.