Outline for preparing a business plan

HIGH TECHNOLOGY INDUSTRY SPECIALTY

It is important to remember that our outline should be treated as a guide, and not as a rigid, all-encompassing format: each business is unique and its plan should reflect as much.  It is also important to understand that no reasonable investor will look at your plan as indelibly etched in stone. As market conditions change, as company strategies evolve, as projections are surpassed or not reached, the plan should be updated to reflect revised scenarios.

A FEW GENERALIZATIONS ABOUT BUSINESS PLANS

The Executive Summary is critical:    This two to three page summary of the plan is where most investors turn first; it is where they decide to read on or to decline the opportunity.

Focus: The plan should be clear as to products to be developed and markets to be addressed by the business. Do not say the company will develop a widget and sell it to General Motors and the grocery store down the street without detailing how it's to be done.

Avoid unsubstantiated superlatives: The "trust me" school of thought doesn't work in business plans -- if your product is going to be the best in the market, thoroughly describe why.

Quantity does not equal quality: The well written plan is succinct and to the point.    The typical plan should be able to say it all in 30 to 50 pages.

First impressions are lasting impressions:    Incorrect spelling, grammar, punctuation; numbers that don't total; a poorly organized plan; all can add up to sink a proposal that might otherwise float. Take the time to have the plan proofread by at least three other members of your team.

"Slick" plans can be a turnoff: Expensively prepared plans are often perceived as form over substance and frivolous spending. Don't waste scarce financial resources on a too-professional document.

Avoid the use of non-assertive language: Qualifying words such as "might," "probably," "maybe," "perhaps," and the like can have a subtly negative effect on readers; be positive or don't say it at all.

The Business Plan -- An Outline

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