Before we get into the “how to write a business plan” section, here are some facts that are really going to shock you!
First off the rank – A glossy business plan with fancy charts is NOT enough to get you funding, and producing basic sales forecasts, with generic assumptions, WILL damage your credibility.
Following a sample business plan will NOT help you write YOUR business plan. You only get one shot at securing funding. Banks have teams of people trained to pick holes in your plan and the scary thing is that they are good at it!
On top of this, recent figures suggest that less than 10% of business plans seeking equity funding succeed. The reality is you will get less than 5 minutes from an equity investor to convey your message and make them want to read the rest of your plan.
Business plan templates are all the same!
Business plan software still leaves the blanks for you to fill in, duplicates software you already have, and in some cases you don’t even own it. When your subscription ends, so does your business plan!
Neither product tells you what you actually need to know to secure funding for your business.
You need to understand your business plan or you won’t get funding. It’s that simple.
If you don’t understand it, then business planning software and business plan templates are completely useless to you.
Believe it or not, even if you buy these products, you still won’t know how to write a business plan let alone communicate it effectively. And your application for funding will be rejected.
The bottom line is, investors back innovative people with good investment potential and sound business acumen, NOT a generic plan churned out by software or copied from a business case template found on the internet.
Take it from us, financiers will see through you a mile away!!