Those are the dirty parts of the business plan

The business plan, which is the sesame that opens doors to many areas when one embarks on entrepreneurship, should be the subject of a detailed analysis of its behavior in its writing. If some parts are run specifically, this is often due to the fact that they relate to the entrepreneur’s field of expertise. He will have a natural tendency to refine it, for others he will pay less attention to him and his argument can be easily challenged. The audience, whether they are bankers, business angels, or a competing jury…always aware of the flaws in the business plan and therefore will ask the questions that put you in trouble.

Some parts of a business plan are set aside by entrepreneurs who think they are not meaningful. All parts of a business plan are important, and some may be more important than others depending on the purpose of the business plan.

Business plan for investors: Don’t neglect the team

If you are writing a business plan with the purpose of obtaining financing, then you need to pay attention to the “team” part. It is not a matter of “copying/pasting” your resumes. You have to show the investors that you are a complementary team and above all a team that has the skills to implement the project.

If you do not have all the necessary skills, you need to explain how you are going to solve the problem. For example, if your project aims to develop a mobile app, you need a developer on your team. And if you haven’t partnered with a developer, you have a few solutions to deal with the problem: outsource the development part through an independent employee or agency, or outsource by contracting with a developer.

Why is this so important to the financier?

Before investing in a project or concept, investors mainly invest in a team. Because it is the team that will lead the project. That’s why you have to take care of the work team and ensure the confidence of investors in you!

Action Plan for Your Team: Strategy First!

If you are writing a business plan in order to impress a colleague or simply to serve as a guide, the parts that should not be neglected this time around are those related to the strategy. In fact, for the firm to function well, the partners must share the same vision. There may be differences on some points (which will be discussed and voted on later), but in general the vision should be the same. Otherwise, you risk experiencing conflict situations that may lead to the departure of one of the partners.

The business plan makes it possible to ensure that the partners have the same goals. So you can also take the opportunity to make everyone’s vision clear. When writing a business plan, you will have to think about any difficulties you may encounter, and especially how you will overcome them.

Business plan to win the competition: bet on your concept

If you want to write a business plan with the goal of participating in an entrepreneurship competition, this time you will have to focus on your concept (and often its innovative nature). In fact, although it’s not always the main criterion, the concept you have can somehow tip the scales. To win a contest, you will have to “show” your project. This means explaining your concept in a few minutes in a clear and concise manner. You will have to show the audience that you meet a need and you will also have to explain how to meet it. All this in a synthetic way and above all… an understandable way. However, depending on the competition, the rule remains to stick to the standards and insist on the good parts. Thus, some competitions favor innovation, others job creation, others feasibility (market study), repetition, etc. In this case, focus on the criteria that the jury members will consider!

The perfect business plan focuses on all the parts and leaves nothing out. But depending on the end goal of the business plan, there are parts that need to be highlighted a little more. Some parts are important in all business plans, this is the case for example the financial part that will also be analyzed by funders, such as by your partner or even a competition jury.

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