“I’m not looking forward to writing my business plan. I have no idea what to say or how to say it!” Sound familiar? Most of us can think of a million things we’d rather be doing than wracking our brains out over a business plan. Before you completely rub out the eraser on your pencil…read Entre-Plan. It’s a do-it-yourselfer on writing business plans. This website takes each major section of your plan–Executive Summary, Market, and Operational Plans to name three–asks thought-stimulating questions, gives you tips on what investors are looking for, and advice on what you should do to fit their bill. Entre-Plan tells you what to say in your business plan, and, more importantly, how to say it.
You’ll find as you read through this guide that certain questions pop up more than once. For instance, the question about “market need” appears three or four times. Although I’m not recommending you make a big deal about your product’s market fulfillment in all four sections, you don’t want investors to forget about it either. A general rule of thumb is not to repeat yourself–unless you’ve got something important to say. Use your discretion! The same is true for suggested page lengths. You may find two pages is not enough room to flex your muscles on your company’s marketing plan–so go to three or even four pages. Just don’t make a habit of saying more than you need to. Everybody knows how irritating people are that talk too much. Remember you can save nitty gritty details for the back of your plan, or make them available upon request.
Another point I’d like to mention is that Entre-Plan is not meant to be an everything-you-need-to-know guide on writing business plans. The questions are representative, but not exhaustive; and they apply mostly to start-ups. Also, don’t feel you somehow have to squeeze every last question into your plan. It’s not desirable, nor possible. Pick out the points pertaining to your business, and build on its strengths, however don’t neglect your business’ weaknesses either. Mention your soft spots in a tactful way–one where you project confidence in dealing with anticipated and unanticipated problems. The last thing is, Entre-Plan is not fill-in-the-blanks. Although this may seem like a simple solution to writing a business plan; it under-estimates the diversity and complexity not only between industries, but amongst companies within the same industry.
Finally, the greatest axiom, which all writers live and breathe is know your audience. Ask yourself these three questions:
- who am I writing to?
- what do they expect?
- what do they want to know?
You wouldn’t write to your investors the same way as you would to your best friend in school. At the same time you don’t want your style to be like cardboard. Imagine yourself writing to Uncle Bob–be relaxed, colloquial, humorous, but show respect.
Always keep in the back of your mind that your business plan is a mirror-image of yourself. From it investors will determine what kind of person you are, and whether your business has potential. First impressions are everything. Whether or not you get a chance to meet investors face-to-face hinges primarily on your business plan. Try to project yourself and your business in a positive, clear, and realistic light, and you won’t go wrong. Good luck!
Whenever you’re sitting across from some important person, always picture him sitting there in a suit of long red underwear: That’s the way I always operated in business. Joseph P. Kennedy.