Create that Business Plan!

Sometimes, it feels like the small business owners and entrepreneurs are always pitching. And, in many ways, you are. To help you out with presenting you ideas, it’s always a great idea to make a business plan. So, what are some things to keep in mind when creating a business plan?

You don’t think I’d leave you hanging, did you?

1. Get to the point.Create a business plan

I put this first because I wanted to get to the point. If you don’t know what your business is about then how are you going to tell anyone else? One way to figure it out is a brainstorm. Sit down and take a minute to think through your business. What’s the most important part about it? Don’t spend too much time painting a picture. Some people don’t have the time to wait around to see what it looks like when it’s finished.

2. Make it pop.

Tell me, why do I need this right now? In many ways, getting to your point quickly can help give your business a bit of urgency, but don’t forget to tell people why they should choose you. There’s a time for humility. This isn’t it.

3. Try not to forget anything.

While you’re spending all that time getting to the point, don’t leave out things investors need to know. You need financials, marketing strategies, release dates…while you might not tell investors about every single one of these, you will definitely need to have them somewhere an investor can refer to them. Don’t just give them smoke and mirrors, give them something solid to go off of.

4. Polish your pitch.

Practice your pitch. Pitch in the mirror. Pitch to your friends; your family; your coworkers. Get it down cold. That way, when you’re in front of investors, you can always defer to the script. That doesn’t mean you should memorize it. Make sure you keep your pitch a little bit improvisational so it feels fresh.

If you follow this advice, you’re on your way to a better pitch and a better business plan.

What do you put in your business plan? Tell us here!

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Posted on May 24, 2013, in Biz Tips, Entrepreneur, Small Business and tagged , , , , , . Bookmark the permalink. 1 Comment.

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