Why Do You Need A Professional Business Plan?

Why Do You Need A Professional Business Plan?

Your business plan is an important document and it is essential that it looks professional. Taking your time over writing your business plan and being thorough and methodical in checking it over will pay off in the long run. Plus, the state of your plan will tell potential lenders and investors a lot about you. After all, if you don’t take your business plan seriously, will you take your business seriously?

 

So what makes a business plan look professional? Here are four things to check to make sure your business plan is in top form before you approach investors.

 

Good spelling and grammar

A professional business plan will be a pristine, error-free document. This includes being free from spelling and grammar mistakes, which will stick out like a sore thumb and suggest to the reader that you haven’t taken care over the document, or even that your attention to detail is lacking.

 

Factually correct

A professional business plan is also free from mistakes such as incorrect facts or miscalculations. It is worth checking and re-checking to make sure everything you have written is correct. If you make an error, such as saying something about your industry that isn’t true, your potential investor could pick up on it – especially if they are working within the same industry – and that will reflect poorly on you.

 

Use the correct tone

Business plans require a certain tone and writing style. Though it should be easy to read, it should still be formal – think clear and concise, rather than rambling and full of technical or industry-related jargon. Read our blog post “What is the Right Tone and Writing Style for a Business Plan?” for more guidance.

 

Good layout

Your business plan should be easy to read, which includes the layout and formatting of your text. A professional document considers the reader’s experience, how to keep them engaged, and how they would like to read the document. For example, split your text into shorter paragraphs rather than having large walls of text. Take a look at our previous blog post for ten tips on formatting your business plan.

 

It’s worth investing in a little help when working on such an important document – your business plan could make or break your chances of running your own business. If you would like any help with writing a professional business plan you can present to lenders or investors, get in touch with cbm. Contact us online using the form on the right or call 01604 420 420.

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