How to write a good business plan
From Entrepedia: The Entrepreneurship Wiki
by Company Creators
Top Tips
Keep in mind that investors invest in people above anything else, and they ideally want you to invest your money: approx about 10% of money raised. To a potential investor, this demonstrates your commitment to the venture. It is also very important that you are realistic when determining your cash flows and financial projections, which will show investors that you are a clear-headed and more reliable investment. That said, ask for enough money: make sure that you have taken into account any and all of these potential costs involved in starting a business.
Use the right accountants: big is not best — a large firm of accountants asked an entrepreneur for £35k to write a business plan. They said it would be more accepted by investors, but the investors' feedback was that they wanted to see the entrepreneur's involvement with the business plan: they weren't interested in seeing some template. If you stay involved with writing your business plan you will be familiar with the background behind the figures, which is a must! Furthermore, limit director salary to 30-40k. Remember that investors look for excuses to say no — test all assumptions! Keep your business plan a maximum of 15 pages long.
