5 Tips for a Great Business Plan
Get rid of the fluff: You should always be as concise as possible and remove any filler language. Even if it sounds nice, fluff gets you nowhere and wastes space. Plus, no investors want to read a long business plan. Get to the point quickly.
Be realistic: You should be honest with yourself in your business plan, which is why it’s important to consider challenges and opportunities. If you’ve got a strong idea, let it stand on its merit.
Show you’re conservative: Everyone says they’re “conservative” in their business plans, but most aren’t. You should be. Use examples to demonstrate that you’re conservative in your approach and projections.
Visuals are good: Whenever possible, and without overdoing it, use visuals in your business plan. Graphs, charts, and images can help bring your concept to life. Plus, it breaks up the text and helps a plan flow better.
Be creative: Include a creative element in your business plan so you stand out and grab someone’s attention. You can use templates, but don’t look identical to a template. Do something unique to make the plan yours.