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10 Tips to Grow Your Business Plain & Simple
“Try not to become a man of success but rather to become a man of value.” Albert Einstein
Recently I heard a statistic that the majority of businesses operate at 60% of their potential. While I was unable to obtain the source of that...
"As Seen Online" -- Local Businesses Finally Figure Out the Internet (and Newspapers, Yellow Pages May Feel the Pinch)
A catering company in a suburban Connecticut town eliminates its Yellow Pages advertising, which once ran to $12,000 a year, in favor of promoting its website. For a growing number of small businesses, local Internet marketing is proving cheaper,...
IS THE BEST RETIREMENT BUSINESS RIGHT FOR YOU?
IS THE BEST RETIREMENT BUSINESS RIGHT FOR YOU? By Ilene Fudim. According to the Coin Laundry Association, laundry centers and coin laundries average a powerful 20 to 30% return on investment. A successful laundry owner offers 6 powerful insights on...
Is Your MLM/Multilevel Marketing Business Legitimate?
INTRODUCTION
A legitimate multilevel marketing business is a great way to get a legitimate residual income that could change your life from the 9-5 rut to a life of financial freedom. But there are many pitfalls out there that will make...
The Online Businessperson Butterfly - Part 1
The Internet is LOADED with opportunity for those who want to start their own online business today! The only thing that seems hard to find is where to start. Too many beginners start out like a butterfly. They go from program to program as the...
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The Ideal Length of Your Business Plan
How long should a business plan be? A business plan needs to be whatever length is required to excite the investor, prove that management truly understands the market, and detail the execution strategy. From surveys of investor needs, Growthink has found that 15 to 25 pages of text is the optimum length in which to accomplish this. Any more and the time-constrained investor will be forced to skim certain sections of the plan, even if they are generally interested, which could lead them to miss essential elements. Any less and the investor will think that the business has not been fully thought through, or will simply not have enough information to make an investment decision.
Many management teams feel that their company is too complex to describe in 15 to 25 pages. While this is sometimes true, the business plan is not meant to tell the whole story. Rather, the company must be “boiled down” into its essential elements. If the investor is interested, there will be plenty of additional time to tell the whole story.
Business plans, like other marketing communications documents, should be visually appealing and easy-to-read. This can be accomplished by using charts and graphics and by formatting the plan for readability. Effectively using these techniques will enable the investor to more quickly and easily understand the company’s value proposition within fewer pages.
While the body of the business plan should be 15 to 25 pages, the Appendix can be used for supplemental information. The Appendix should include a
Embryonic-Stem-Cell Funding Stays Bottled Up
A federal judge ruled the government is wrong about a "parade of horribles" that a stay on funding of researcher involving human embryonic stem cells would have on the field. He refused to lift a preliminary injunction imposed last month.
Marine Scientists Seek Standards For Spill Research
Much of the scientific effort that has followed the oil spill in the Gulf of Mexico has focused on how much oil escaped and where it's gone. But many biologists say they're puzzled by the lack of an organized research effort to measure the damage.
full set of financial projections, and as appropriate, technical and/or operational drawings, partnership and/or customer agreements, expanded competitor reviews, and lists of key customers among others.
If the Appendix is long, a divider should be used to separate it from the body of the plan, or a separate Appendix document should be prepared. These techniques ensure that the investor is not handed a thick business plan, which will make them queasy before even opening it up.
To summarize, the goal of the business plan is to create interest – not to have an investor write you a check. In creating interest, the full story of your company need not be told. Rather, the plan should include the essential elements regarding why an investor should invest and spend more time examining the business opportunity. The shorter length does not mean that your business plan should take less time to prepare. Rather, it will take more time. As Mark Twain once said, “If I had more time, I would write a shorter story.” Likewise, condensing your business plan to a concise, compelling document is challenging and time consuming. Fortunately the rewards are significant.
Growthink Business Plans has developed over 200 business plans for clients that have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink Business Plans is the sister site of GT Venture Capital.
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