I have been planning a dream, a dream to open my own business
at some point of time [though it is decades away from happening]. But, well we all have a power and that is
imagination. So I have been imagining myself as a entrepreneur and trying to
convince my investors to lend me funds.
From the past few marketing/business classes I realized that
business plan will be a secondary source of information to our clients but what
has to be perfect, short, point-to-point is the executive summary.
All business plans must have an
executive summary, details of the culture, vision of the business, marketing
strategy and financial analysis. But what makes a good business plan excellent
is providing the funding request with a clear and compelling reason. It also
helps if the owner has spent time, money in the business. The investors or the
financiers would like to know how much you are emotionally, intellectually and
financially invested in the business. Another factor is providing the financiers
or investors with an exit strategy in which they can leave the company in a
very planned and orderly manner. No matter how good your business might be, if
an investor wants to leave you should provide him/her with a way to do that in
an orderly and planned manner. Finally in the business plan, it is important to
do the Strength, Weaknesses, Opportunity and Threat (SWOT) analysis and compare
it with your competitors and make it a point to put it into the business plan
which will ensure that the investors know what will they gain or lose if they
invest. This all should be summarized and put into the executive summary which
should be written at the end of the business plan creation.
