So, you’ve built your business and are ready to open it up for investors or partners. The problem is, you don’t know how to write a winning business plan for investors. Don’t worry. We’re here to help.
Here are some tips to help you get started with your business plan
1. Get to Know Your Audience
It’s easy to be tempted to create a generic business plan that you could use and re-use for different purposes. When you’re presenting to possible investors or partners, however, it might be wise to create a business plan specifically for that purpose.
Get to know the people that you’re going to meet with ahead of time. Do they prefer a formal business plan, or are they interested in having a creative presentation of your business? What’s their personality? These things could give you clues on how to develop and present your plan.
2. Keep It Simple
Understandably, you’d want to have everything on paper. However, no one has the time (or would wish) to read a 100-page document. Leave your in-depth explanations during the presentation. Use your business plan to highlight important details about your company. Make sure they don’t miss them as they go through your document.
3. Don’t Forget the Essentials
There are many things you could include in your business plan, but make sure to have the essentials. Here are some of them:
– Executive Summary — An introduction and background of your company
– Investment Opportunity — This is where you tell potential investors about your goals, how they can help you achieve them and where their investments would be used.
– Marketing Opportunity — This is the part where you tell your potential partners about the problem/s that your product or service is solving. This is also where you inform them about industry trends. Let them know that NOW is the best time to invest in a business like yours.
– Company Milestones — What have you achieved so far as a business? Present revenue milestones, social proof, partnerships with other organisations, and press mentions.
– Differentiating Factors — What makes you stand out? How do you plan to remain competitive in the industry?
Taking your business to the next level is exciting. However, it can be intimidating, too. A well-written business plan is essential to make investors consider your business opportunity. Don’t rush it.
Not sure if you’re doing it the right way? Sutherland Reid & Farrar could help you prepare your business plan, cash flow projections, and budgets. Please fill out our contact form or call us at 02 6752 9700 for more information.