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It shows that you've analyzed and weighed options, so investors can move forward with full confidence in you and your enterprise.A good business plan helps you better understand your company so you can run it more effectively. All of this and more should be condensed into a brief description – from a couple of sentences to a maximum of 1 page long – that is easily understood and limits the use of insider jargon.
Whether you’re just for years, you need to be able to speak with lenders, investors, employees, and other third parties about your business in an intelligent way.
Putting together a good business plan can help you articulate your vision for your business.
Never be afraid to show that one of your competitors is profitable; after all, potential investors are going to want to know that your industry is a viable one and that success is not only possible, but probable.
Also include any opportunities (and threats) that may potentially affect your progress, as well as any rules and regulations your market has to follow.
Prove your business is more than just a good idea by presenting a team of individuals who bring experience, enthusiasm and credibility to the table.
Also demonstrate your commitment to these people (capital and expense requirements for the next 3 years) so that potential investors get a feel for your commitment to success.
You should be strategic about obtaining business financing.
Ideally, you should apply for financing when your company’s financials are strongest.
This is one of the most critical elements of any business plan.
There are 3 major forecasts your plan should contain, and you should make sure that each lines up with the funding request, should you choose to include one: As a rule of thumb, keep certain things on hand that aren’t included in your business plan such as credit history, resume, letter of reference or any other relevant information that lenders might request.