Trying to get your hands on a spectacular business plan? There's no one secret recipe for what makes a business plan good – much less spectacular – but experts agree that all great plans have a few core things in common. For one, they're concise, get-to-the-point documents full of meaningful content, not fluff. They have careful market data that's presented quickly and with relevance, and they show a corresponding financial model that's underpinned by confirmable figures from industry research or competitive comparables. They do NOT include any of the following:
• A long-winded executive summary
• A start-up table with “lump sum†totals and no categories or research
• A financial forecast without underlying assumptions
• A pie-in-the-sky exit strategy
• An enormous net profit percentage
• A trumped up list of “advisors†or a board of directors
A savvy investor can quickly pick apart a business plan where the financial model was thrown together without any real logic. “Filling right†in a spreadsheet simply to meet an end goal, unless your starting point and growth rate can both be tied to researched figures, is a bad approach. And the best plans show concise appraisals of market opportunity and get-to-market approach; not endless sections of vagaries or over-aggressive strategizing. Avoid these pitfalls – get a plan that will pass muster by calling on the professionals the first time. MasterPlans has made more than 9,000 business plans to date and we know what goes into a spectacular plan. Call us today at 877-453-2011.
