A business plan means different things for different people. You can use the same business plan or go a step ahead and customize it to suit the target audience. This becomes a win-win all around!
A business plan is vital for raising funds for a business – be it a startup, a new venture or an existing enterprise. The banks, lenders and other investors will rake through the plan with a fine tooth comb to understand the actual prospects of the business.
Therefore, the investor business plan should excite interest, make the right impression and compel them to find out more about the proposal. Only when they are completely satisfied with the business prospects and financial probabilities will they even consider backing the business.
However, there is a lot more riding on a business plan apart from the crucial responsibility of raising investment capital.
- If you are seeking to enter into a partnership, the prospective partners will primarily wish to peruse the business plan to understand their level of ownership, authority and responsibilities. They are more concerned with the organizational structure, control and accountability rather than the product/service lines and financial details.
- You will obviously want to establish dealings with suppliers, distributors and other strategic allies. This relationship will again hinge on the business plan. They will be more interested in the financial reports, particularly related to the cash flow and profitability prospects of the business. The growth probabilities will also play a starring role here.
- When it comes to the management, they will be more concerned with the vision, goals and objectives of the business that translate into milestones for them. The economic factors, market conditions and strategic analysis will become a blueprint that guides business growth.
- In fact, even customers and competitors consider the business plan to gauge the stability and future prospects of the business.
In sum, an investor business plan holds strategic importance which varies depending on the target audience. A professional business plan consultant like The Plan Writers (www.planwriters.com) can not only arm you with a compelling business plan, but also adapt it to the motivations of the person reading the same!