BizPlanAssist.com

How to write a powerful business plan

Writing a business plan is hard work and there are many pitfalls awaiting the unwary when writing one. It is imperative that you produce an impressive document that will be read with interest by the potential investor or funding organisation. Many venture capital firms are ruthless with the business plans that land on their desks. If the executive summary does not grab them, they bin the plan and move on to the next one! Your plan, therefore must make that critical first impression.

Some of the common errors include:

1. Not tailoring the plan to a specific audience: investors look for capital growth, while a bank manager is interested in security to support a small business loan application
2. Unrealistic sales forecast and financial projections
3. There is no marketing strategy to back up the sales forecast
4. Thorough research into the market has not been conducted
5. The target market is not clearly identified
6. No detail as to how the opportunity can be profitably exploited
7. No sustainable competitive advantage
8. Poorly written executive summary
9. Poor understanding of good cash flow management
10. Vague explanation as to how the fund raised will be used
11. No evidence of real demand for the product or service
12. No clear business objectives, vision, and purpose
13. Not understanding the distinction between direct and indirect competitors, and substitute products
14. No management team in place
15. Missing financial data, e.g., profit and loss account, balance sheet, cash flow, breakeven analysis, etc.
16. Not taking into account seasonal variations
17. No clear strategy as to how to defend the company's intellectual property, or protect market position from competitors
18. Not understanding market drivers
19. Not conducting a risk analysis and stating how to mitigate potential risks
20. Shoddy presentation full of typos and grammatical errors

The above list is by no means exhaustive, but paying close attention to them can help to 'bullet-proof' your business plan. The BizPlanAssist service will ensure that you are covered in all eventualities. We will make sure that we understand your business and vision, and that thorough research is conducted prior to commencing the business plan. We will then provide you with a powerful and comprehensively written business plan with all the sections intact and blending together seamlessly.