The business plan is an irreplaceable thing when you are looking for investment. It is the underlying blueprint for your business and reflects the major selling points of your ideas, strategy, and team. A good business plan should be concise, persuasive, and realistic. In addition, the best business plan is expected to be a fluid document - it will change and adapt as your business evolves to meet the demands of reality.
Don’t think that the main purpose of your plan is to raise money or to explain every detail of your operating plans. The main objective of your business plan is to make prospective investors get interested in you and to make them want to take the next step and meet with you. You should consider that while writing each sentence.
Considering that fact that everyone is busy, an Executive Summary should be short, compelling, and complete enough so that if that is all someone reads, they will understand it. Also the great importance has your self introduction, what the customers' pain is and what are you going to do to relieve it, why your team is ideal for the job, where you are in the process of building your company, and of course how much funds you need.
The body of the plan should touch details on the Big Four: Management, Market, Product, and Finance. Present the backgrounds of key management members with detailed resumes. Explain that the market needs something more than the market size. Explain how you know. The most successful companies are usually started by frustrated customers. Intimate familiarity with the problem space, stemming from personal business experience, is the most convincing. While discussing your product is advisable to explain its benefits from the side of customer's perspective, not from the designer's.
Financials need not include eight years of monthly projection of travel expenses. It is desirable for income to show outcrop by month for the next six months, by quarter for the following six quarters, and then by year for another three years. Statements of balance are not decisive for start-ups, decisive are fund flow statements. Sometimes appendix of relevant articles or forecaster reports may appear to be very helpful.
Your plans have to be announced beforehand like house guests, preferably by an acquaintance. It is supposed that investors work hard to make themselves known. How are you going to find key employees, market insights, or clients, if you can’t get funding through meeting with deputed person of your prospective investors.
Remember that the only purpose of the plan is to make investor to arrange a meeting with you. Be sure to make your plan succinct and convincing - short and sweet.
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