Business Plan Reviews

So if they start paging through your plan and can't find the section on "Management," they may decide to move on to the next, more organized plan in the stack.3. Every business has customers, products and services, operations, marketing and sales, a management team, and competitors.At an absolute minimum, your plan must cover all these areas.Wherever possible, make sure you check your assumptions against benchmarks from the same industry, a similar industry or some other acceptable standard. A simple example of this would be the real estate section of your plan.

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When they see one with spelling, punctuation and grammar errors, they immediately wonder what else is wrong with the business.One way to do this is to break your plan into three parts: a two- to three-page executive summary, a 10- to 20-page business plan and an appendix that includes as many pages as needed to make it clear that you know what you're doing.This way, anyone reading the plan can get the amount of detail he or she wants.6.You claim there's no risk involved in your new venture.Any sensible investor understands there's really no such thing as a "no risk" business. You must understand them before presenting your plan to investors or lenders.For instance, I once met a conservative Midwest banker who funded an Indian-Japanese fusion restaurant partly because the plan was--like the restaurant concept--upbeat, trendy and unconventional.2. Once your writing's perfect, the presentation has to match.Nothing peeves investors more than inconsistent margins, missing page numbers, charts without labels or with incorrect units, tables without headings, technical terminology without definitions or a missing table of contents.You should research the locations and costs for real estate in your area, and make a careful estimate of how much space you'll actually need before presenting your plan to any investors or lenders.7. Just as it's important to tie your assumptions to facts, it's equally important to make sure your facts are, well, facts.Learn everything you can about your business and your industry--customer purchasing habits, motivations and fears; competitor positioning, size and market share; and overall market trends.The most important assumption, of course, is that your business will succeed!The best business plans highlight critical assumptions and provide some sort of rationalization for them.


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