By on February 26 2018 22:28:38
Creating your business plan is more than just getting your ideas down on paper for potential funders to see. It is an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities. It might even lead you to kill off aspects of your business before investing too much time or money in them
Know your market. A big part of knowing whether your business will be successful is understanding your audience. Make sure your plan is clear about your target market – who will you be selling to and how many other companies are already selling similar products?
Be concise. It’s really important that potential investors can understand what your business is all about from a quick glance at your plan. Make sure you include a summary of your business, and how it will make money right from the start, and use simple language throughout.
That does not mean you have to bust out Word and start the plan from scratch. A template is great--you probably are not doing anything that has not been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized.
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