Including the Right Support in Your Business Plan
Business Plan Writing Tips

Your business plan is meant to confirm the fact that your business will be successful during its operation. Your plan should also confirm the fact that your business is a good investment opportunity. Your market opportunity, management expertise, and exit strategy are three categories that need to be clearly outlined in your business plan.

Market Opportunity

Your business plan should include lots of support to show the basic market opportunity. Show that there is an unsatisfied need in your market for the services or products that your company will offer. Do the necessary research to find articles, interviews, surveys, focus groups, or data from industry reports. Also include research on your competitors. This way you can determine whether or not they should be included in your plan, to show that your company can take advantage of the opportunity.

Management Opportunity

Support your management teamís expertise by showing their qualifications. This will demonstrate that their specific functions will be fulfilled. Industry experience or functional experience should be included. Avoid adding irrelevant experience that doesnít pertain to the position. Keep in mind that unrelated positions may yield experience that can be added here.

Exit Strategy

An exit strategy is a plan for investors or lenders to cash out of your business. If your business plan includes an exit strategy, you should support it completely. For example, if a strategic sale to a competitor occurs it may value your business. This sounds appealing, however, it is only realistic if it is supported by the necessary evidence that the particular competitor does make acquisitions and that they will consider it an advantage.

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