For instance, justwhatkindofstuffyouthinkgetsreadlikethis? Imagine pages full of that, with virtually no margins, no paragraph breaks, no breathing room. Lenders, investors and angel investors are confronted with piles of business plans like that every day.
Take a breath. Then lure your reader into the plan with snappy headlines and easy to read formatting.
Do you know why the Wall Street Journal and USA Today use headlines? Because it's the only way anyone will read a story. More to the point, it's the only way anyone will buy their paper. (Mmmm, sounds like you may have something in common with newspapers.)
Take a look at your favorite newspaper. Those headlines tell a story. Sometimes they ooze with conspiracy, and once in a while they stand majestic. Note:
Martha Jailed
The War is Over
The Watergate Starts to Smell
Your business plan needs to do no less. The headlines and section heads need to draw the reader in, not with an announcement, but with an invitation. Compare these:
The Executive Team
The Audio Industry
The Advisory Board
with these:
Strong Executive Team is Led by Industry Insider
Audio – the Industry that Reinvents Itself
7 Top Scientists Lead the Advisory Board
So which set are you going to read?
Lenders of all ilk get far too many business plans – certainly more than they can possibly fund. Simply getting your business plan read is a big step in the right direction.
Try this trick. Imagine that you are indeed writing a newspaper, one that competes with another strong paper in your town. What headline would you put on that paper to encourage readers to buy yours, and not the other?
Honesty, of course, is essential. But within that honesty there are a thousand ways to make the same statement. How many ways are there to say that it is spring time?
· It is spring
· It is April 22
· Lilacs are in bloom
· Snow is melting in the mountains
· Baseball camps are in full force
And how many ways are there to say that your business idea is a good one?
· This is a good idea
· An innovative approach
· A sure-fire winner
· A strong contender for funding
· A strong team in an equally strong market
· Lots of community support
· This fills a need in the marketplace
· The company draws on the experience of each of its members
· Two years of strong growth
· Impressive projections
Now jot down some headlines for your company. You may or may not be able to use them. Try first just to jot down every idea, a brain storming session.
Now use the best of those headlines to help structure your business plan. If “Nobel Prize Winner Heads Advisory Board” is your strongest headline, then lead with that story. If “A Prime Location in a Prime Shopping Center” is your strongest headline, then that is your lead.
Let the strength of the headlines pull your business plan up a notch or two. The power of your business may surprise even you!
Before you actually begin writing, take the time to really look at a good publication, something like the Wall Street Journal. Look at the styling and the use of headlines and sub-heads. Note how the ideas keep a steady flow, with an invitation to read.
Your business plan likely won't look like the venerable WSJ, or any other major publication, but odds are that it will look a whole lot better than most, and it will therefore be read much more readily. And that, after all, is what you are after.
Write A Business Plan Template
A business plan is in essence a creative writing project. You want the plan to be an interesting read, not a long pedantic discussion. When you're approaching lenders or investors, you have to put on your marketing hat and make your company's future sound exciting.
So write your plan as an exciting description of the opportunity you see that lies ahead. Are you excited (you should be!). Then let that excitement shine through in the narrative of your business plan. You want to infect the reader with the same excitement you have, don't you?!
WRITE YOUR PLAN IN LANGUAGE THAT FITS YOUR INDUSTRY AND YOUR OWN STYLE
The business plan for a consulting company would need to sound much different than a plan for a sporting goods store. Make your plan sound like you; Include some of your personality and philosophy so after reading the plan, an investor would feel as though he/she knows you.
BE ENTHUSIASTIC IN YOUR APPROACH
Most entrepreneurs are very enthusiastic about their company, bu they usually get SO enthusiastic that they almost wear you out. Then you get their business plan and it reads like the operations manual that came with your DVD player. The main objective of a business plan is to create excitement in the minds of the investors; to activate the area of their brains devoted to greed. If you aren't enthusiastic about your plan, who will be?
DON"Y GET CAUGHT UP IN INDUSTRY JARGON
Make sure not to dwell on nit-picky details about your technology - focus on adequately developing the business reasons why they are going to make money for yourself and the investors. Explain technology in everyday language, then focus on why your company will make money and how it will make money.
BE OPEN ABOUT THE RISKS AS WELL AS THE OPPORTUNITIES There are downsides to every business venture, recognizing those risks shows that you've considered all the alternatives. In the discussion come up with how your company will react to certain risks. That demonstrates smart management.
A CD ROM CAN'T REPLACE YOUR MIND! More and more entrepreneurs are relying on business plan writing software. These products are sometimes helpful in formatting the plan and creating the financial schedules, but they can't formulate your strategies for you. The heart of the business plan is explaining how you are going to sell more of your product or service than your competitors, and operate your business at high enough profit margins to generate a superior rate of return for investors.
The CD-ROM you might purchase has no idea how to do any of this. It's been in a box on a shelf for all of its life. How exciting is that?
The main idea here is that, to engage the reader of your plan, you need to share your sense of excitement about the opportunity. You will and should have lots of analysis, SWOT, financials, etc., but also make sure that your reader is engaged and interested from the 1st paragraph - so get excited!
Both Maryann Shank & Henri Schauffler are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Maryann Shank has sinced written about articles on various topics from Network Marketing, Network Marketing and Business Plan. MaryAnn Shank is an innovative pro in the world of business plans. The best of traditional and cutting edge techniques are at her website . Maryann Shank's top article generates over 60500 views. to your Favourites.
Henri Schauffler has sinced written about articles on various topics from Property Agents, Home Internet Business and Business Plan. Henri Schauffler, The CEO Coach, has dedicated the last 20 years to helping small businesses like yours to "Outmanage, Outhire, Outsell and Outprofit All the Competition." For a FREE business assessment and tune up to see exactly how you are doing in all. Henri Schauffler's top article generates over 60500 views. to your Favourites.
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