Wondering about writing a narrative for a business plan? For all the document's structure, there is surprisingly no hard and fast rule governing the way the narrative should be. While academic circles tend to advocate third-person voice and a removed delivery style, there can be little debate that the most cogent and impactful business plans tend to be written in first-person. So whether "The Company intends to..." or "We are planning to..." better suits your personal taste, don't worry, there's a narrative style that will work for you. But what should the narrative convey? These points are vital:
• What is the market need and how do you fill it?
• Who is the target customer or client and how many potential buyers are there?
• How will you market yourself or promote your products?
• What amount of capital do you need and how will you spend it?
• When can your business break even?
In addition to the break-even point, your plan should show who will you need to employ and when, as well as the salary or hourly rate for each hire. The personnel plan should be part of a larger pro forma that accounts for all expenses and forecasts revenues for a period of three years (for a bank plan) or five years (for investors or VCs). The narrative and the model should reflect one another to the greatest extent possible using assumptions and market figures uncovered in your research. MasterPlans can do all of this work for you. Our team of business planning professionals has years of experience putting together compelling business plan proposals for start-ups and existing companies. Call us to learn more, toll-free: 877-453-2011.
