By Claire West
Find out how the Institute of Directors can help you...
Investors agree that the most important aspect of any business plan is the Executive Summary – this is your ‘elevator pitch’ – a one page summary of the whole plan.
If you get this right then people will read on – get this wrong and you join the ‘no thanks’ pile.
A good business plan needs to be easy to understand and jargon free – remember that the person reading the plan is unlikely to be an expert in your business or industry. Even if they are they could forward the plan onto other people and excessive use of acronyms can put people off.
One size definitely doesn’t fit all – a good business plan should be tailored to the audience it’s aimed at – a seasoned investor or VC will be looking at it differently than a bank manager or a family friend.
Every management team should know where it is taking the business and this free guide from the Institute of Directors outlines the key issues to consider when putting together a ‘typical’ business plan.