How to Make a Business Plan Successful


There is a general idea about how to make a  business   plan , which is why the appearance of  business   plans  remain the same for all times. However, whether a  business   plan  is acceptable or not depends on the inclusion or not of certain ingredients necessary for its success.

Since one of the purposes of your  business   plan  is fund raising and because your  business   plan  will be reviewed by those you seek fund from, it is better to stay with a conventional format and the normal decision making components of a good  business   plan , if not your reviewers may see no reason to go ahead with the review.

Write Your Executive Summary Section Properly

The executive summary section of your  business   plan  is like the preamble or synopsis of your  business   plan , which is why it should be well written. If the attention of your audience is not grabbed the reading of your  business   plan  may be aborted. Write your summary with very powerful words that simply make clear what you are leading to in a short and very easy to understand language.

If your executive summary is impressive you are surely getting the reviewers on the side of your presentation by impressing them with points that show that your business will make profit.

A clearly written summary will most probably get the reviewers approval. A well written analysis of the potentials of your target market, the amount of capital you are looking for to take advantage of the market, expected proceeds from sales projections and your repayment plan therefrom are all the hallmarks of an excellent executive summary.

Introduce Your Business

Here is where you give more details about your company: The registered name, business premises address and more description of the nature of your business. Your reviewers are not going to rack their brains to understand you, so write simple and easy to understand statements of facts that need no thinking to understand. There is no point to speak a language your reviewers will not understand, if your company is technical, use ordinarily words that your reviewers will understand..

Clearly Analyze Your Market

This is where your reviewers will quickly appraise your knowledge of the market and business for which you are looking for funds. If you have done your homework, your analysis of the market will glow before them like a sun in splendor. Here you are just adding more shine to what you said at the executive summary. It is your marketing plan that you present here.

Funding, Your Source Of Expected Income And Your Financial Contribution

This is where you talk about company policy, strategies for beating competition using well researched market information etc. Also, you have to include your own monetary contribution in this section.

In closing, you showcase your management team – depending on your type of business, this is about your organizational structure. If you company is a limited one, the resumes of your key members of staff should be included for your reviewers to see. Now need I tell you that only relevant personnel should be presented as members of staff. The is how to make a  business   plan  that works.

Source by Ndokwu Enesha

· · ·

Related Articles & Comments

Menu Title