If you engage in business planning, you have to develop business plans that potential small business investors and loan providers want to fund.
Writers who succeed at this balancing act can proudly wear their business plan writer badge and daunt less-savvy strategists.
Business Plan writing requires an understanding of what funds providers want to see as well as what will help you reach your business goals.
There’s no point in having a well-written business plan if you don’t plan to implement it.
Master these simple yet brutally effective business plan writing techniques and not only will your business plan catch the attention of funders; but funding opportunities will present themselves all over the place.
What's Covered in This Article
Business Plan Writing Do’s
In order to make potential lenders and your business plan readers happy, apply the following principles.
Make sure you’re doing all of these and your Business Plan will impress lenders and readers:
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Thoroughly research your target market:
Make sure you are using your keyword in the first 100 words of the copy. It doesn’t have to be the first word; that can come off like over-optimization. Just find a natural way to use it in the first 100 words.
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Give it Substance:
There is no magic number for page count but don’t be surprised if a blurb about some business idea you have doesn’t skyrocket you to the boardroom of a venture capitalist.
As a general rule, aim for quality rather than quality.
Write only as much as is necessary to make your point. This pretty much depends on the industry, your business idea, and purpose of the business plan.
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Back your Financial Projections:
Don’t just throw figures around to make the pro forma financial statements.
Include a narrative that explains the rationale for your financials and assumptions
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Clearly Spell out your Value Proposition:
This is the problem you are trying to solve for the customer.
Why should they use your service or product over the competitors’?
Or rather, why should they even use it at all?
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Use Graphs, charts and Pictures:
Use graphs and charts to elaborate your figures.
Appropriate pictures also help break monotony and emphasize important points.
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Remember the Executive Summary:
The body of your business plan isn’t the only thing you need to worry about when it comes to business plan development.
Make sure your executive summary catches the readers’ attention from the first sentence.
Include the business name, product/service information, value proposition, and target market in the first couple sentences.
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Clearly Describe your Product or Service:
What solution are you offering to your target customers.
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Describe your Target Market:
Who will use the solutions you are selling? i.e. your products and/or services.
How old are they?
Where do they live?
What is their level of education?
How much is their disposable income?
What is their marital status? Etc.
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Include a Competitor Analysis:
A competitor is any other business that is offering a similar or alternate service.
Reflect on who else is providing a solution for your target customer.
Whose services or products will they be using when they are not using yours?
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Develop a Marketing Plan:
How will potential customers learn of your products and services?
Are you going to use traditional advertising channels such as posters, billboards, TV, ratio? Or digital channels such as social media, or both?
How frequently are you going to deploy the marketing activities?
These are some questions you need to answer.
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Come up with a Sales Strategy:
How will customers access your services or products?
Are your products available online or through brick and mortar shops or both?
Business Plan Don’ts
Stay away from these cardinal sins if you want a business plan that will help you to obtain financing:
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Grammatical Errors and Misspelled Words:
A business plan full of grammatical errors and wrong spellings doesn’t read well. Investors put it aside and financiers hate it.
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Unnecessary Use of Industry Jargon:
Not all your readers are conversant with your industry’s technical jargon.
It is therefore important that you explain any technical terms used in the business plan.
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Forgetting all of the Regular Business Planning Tactics:
Business planning is just another strategic part of your business plan that you need to consider.
You can’t forget to make your business plan readable, use graphics or pictures and be realistic.
Opportunities for Business Plan Writers
If you can become a decent Business Plan writer, there are plenty of opportunities for you out there.
Being able to develop plans that small business owners and funds providers love will allow you to:
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Write your own business plans:
Keep your talents in-house and update your business plan as necessary.
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Freelance:
Sell your business plan writing services through freelance sites like Upwork, online marketing forums, LinkedIn and the like.
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Partner up with other business strategists:
Maybe you know someone who is great at coming up with business ideas or can conduct market research like no one’s business.
Combine your strengths and make some planning magic.
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Get a full-time gig:
Yes, if you hone your craft and become a top-notch business plan writer, there are full time positions available that pay very well.
With so much opportunity out there, not focusing on the strategic side of business is just plain silly.
By learning and applying a few basic principles, you can get light years ahead of your peers.
Are you looking to hire an experienced business plan writer for your business planning needs?
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