Business Plans: The Key to Convincing Investors?

Are you trying to start a business, or take your present business to a new level? Then you will, like many people, realized the scale of the challenge. Funnily enough, when you try to pitch your business idea to an investor, they want hard data rather than assumptions.

You can’t stand in the middle of a room with an investor or potential partner and talk in platitudes or assumptions. You need to be able to give them actual data. Rather than saying “There are millions of potential customers here in Leeds!” you need to sell it with data. Let’s say that you are targeting a younger demographic – let’s say smokers – with an anti-smoking solution. You would want to use stats and facts that show there is a large number of smokers in the area, but that there is also scope to show that – despite large numbers of people stopping – numbers are staying at the same rate.

Why does that matter? As it shows that there is both A) a large demographic to target and B) no signs that this is demographics is dwindling year-on-year.

Of course, you can stand off in the middle of a room and roll out percentages, facts, and studies all you like. The real way to convince investors is with the uniquely persuasive power of business plans.

Business Plan Writing: Why Business Plans Persuade Partners

So, when you turn up to an office meeting or an interview of sorts to show off your new business idea, you need to have the facts on hand. If you are serious about growth and improvement, then you need to be able to convince the person in the room to hear you out.
This comes from giving them information that immediately makes your business idea sound attractive. In the form of a comprehensive business plan, you can show them key factors including:

•How your business fits into the present demographic, and how the business idea will fit in the long-term.
•Financial goals, aims, and investment needed to make the plan a success.
•Year-on-year aims for growth, profit/loss and various other factors that need consideration.
•Key target markets and the kind of people who your business will accurately connect with.
•The markets and mediums you will use to interact with and eventually profit from in the long-term.
•Where the investor/partner fits in with relation to the overall plan.

This makes it much easier to convince someone of the plan’ success. By giving them all of this information, you make them feel much more open to the opportunity for this to be a success. You can also give clearly reasoned answers to any of their questions and concerns, backed-up with studies when needed.

So, can you see why writing a business plan is such a worthwhile idea?

If you find it hard to do this right, then you should look to invest in a business plan writer to help you piece together convincing content that delivers the correct message each time. You only get one shot to make this a success – are you willing to make the most of it?